Consolidated financial statement of the Eurosystem as at 21 October 2011
Items not related to monetary policy operations
In the week ending 21 October 2011 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the purchase of gold by one Eurosystem central bank as well as the sale of gold coin by another Eurosystem central bank.
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 192 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).
| Value date | Type of transaction | Maturing amount | New amount |
| 20 October 2011 | 7-day US dollar liquidity-providing reverse transaction | USD 0.5 billion | USD 0.5 billion |
The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) that the European Central Bank has with the Federal Reserve System.
The holdings by the Eurosystem of marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.6 billion to EUR 338.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.2 billion to EUR 858.3 billion. Liabilities to general government (liability item 5.1) rose by EUR 24 billion to EUR 69.2 billion.
Items related to monetary policy operations
The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) decreased by EUR 69.2 billion to EUR 218 billion. On Wednesday, 19 October 2011, a main refinancing operation of EUR 204.9 billion matured and a new one of EUR 201.2 billion was settled. On the same day, fixed-term deposits in an amount of EUR 163 billion matured and new deposits were collected in an amount of EUR 165 billion, with a maturity of one week.
Recourse to the marginal lending facility (asset item 5.5) was EUR 4.6 billion (compared with EUR 2.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 202.1 billion (compared with EUR 136.2 billion in the preceding week).
The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 4.2 billion to EUR 228.7 billion. This increase was due to the net result of settled purchases of securities under the Securities Markets Programme and the redemption of securities under both the Securities Markets Programme and the covered bond purchase programme. Therefore, in the week ending 21 October 2011 the value of accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 169.5 billion and EUR 59.2 billion respectively. Both portfolios are accounted for on a held-to-maturity basis.
Current accounts of euro area credit institutions
As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 85.5 billion to EUR 213.1 billion.
| Assets (EUR millions) | Balance | Difference compared with last week due to transactions | ||
|---|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | ||||
| 1 | Gold and gold receivables | 419,824 | 1 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 226,877 | −226 | |
| 2.1 | Receivables from the IMF | 80,402 | 2 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 146,475 | −228 | |
| 3 | Claims on euro area residents denominated in foreign currency | 32,496 | 264 | |
| 4 | Claims on non-euro area residents denominated in euro | 21,563 | 1,760 | |
| 4.1 | Balances with banks, security investments and loans | 21,563 | 1,760 | |
| 4.2 | Claims arising from the credit facility under ERM II | 0 | 0 | |
| 5 | Lending to euro area credit institutions related to monetary policy operations denominated in euro | 585,241 | −1,379 | |
| 5.1 | Main refinancing operations | 201,182 | −3,757 | |
| 5.2 | Longer-term refinancing operations | 379,474 | 0 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 4,562 | 2,396 | |
| 5.6 | Credits related to margin calls | 22 | −17 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 79,747 | 1,567 | |
| 7 | Securities of euro area residents denominated in euro | 567,214 | 4,771 | |
| 7.1 | Securities held for monetary policy purposes | 228,691 | 4,195 | |
| 7.2 | Other securities | 338,523 | 576 | |
| 8 | General government debt denominated in euro | 33,966 | 0 | |
| 9 | Other assets | 346,248 | −4,441 | |
| Total assets | 2,313,175 | 2,318 | ||
| Liabilities (EUR millions) | Balance | Difference compared with last week due to transactions | ||
|---|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | ||||
| 1 | Banknotes in circulation | 858,311 | −1,206 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 580,330 | −17,661 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 213,075 | −85,498 | |
| 2.2 | Deposit facility | 202,098 | 65,903 | |
| 2.3 | Fixed-term deposits | 165,000 | 2,000 | |
| 2.4 | Fine-tuning reverse operations | 0 | 0 | |
| 2.5 | Deposits related to margin calls | 157 | −66 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 3,743 | 248 | |
| 4 | Debt certificates issued | 0 | 0 | |
| 5 | Liabilities to other euro area residents denominated in euro | 77,221 | 23,940 | |
| 5.1 | General government | 69,203 | 23,998 | |
| 5.2 | Other liabilities | 8,018 | −58 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 48,241 | −78 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 1,891 | −654 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 11,040 | 591 | |
| 8.1 | Deposits, balances and other liabilities | 11,040 | 591 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 54,486 | 0 | |
| 10 | Other liabilities | 213,154 | −2,863 | |
| 11 | Revaluation accounts | 383,276 | 0 | |
| 12 | Capital and reserves | 81,481 | 0 | |
| Total liabilities | 2,313,175 | 2,318 | ||
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