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22 November
2011 - Consolidated financial statement of the Eurosystem
as at 18 November 2011
Items not
related to monetary policy operations
In the week ending 18 November 2011 gold
and gold receivables (asset item 1) remained unchanged.
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus
liability items 7, 8 and 9) increased by EUR 1.5 billion to EUR 194.8 billion
on account of customer and portfolio transactions and US dollar
liquidity-providing operations (see below).
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US dollar liquidity
operations
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Value date
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Type of transaction
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Maturing amount
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New amount
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17 November
2011
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8-day US
dollar liquidity-providing reverse transaction
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USD 0.5
billion
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USD 0.6
billion
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The liquidity-providing transactions
were conducted by the Eurosystem in connection with
the temporary reciprocal currency arrangement (swap line) that the European
Central Bank (ECB) 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 1 billion to EUR 336.2
billion. Banknotes in circulation (liability item 1) decreased by EUR
1.3 billion to EUR 865.1 billion. Liabilities to general government
(liability item 5.1) rose by EUR 7.6 billion to EUR 57.4 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 60.9 billion to EUR 200.1 billion. On
Wednesday, 16 November 2011, a main refinancing operation of EUR 194.8
billion matured and a new one of EUR 230.3 billion was settled. On the same
day, fixed-term deposits in an amount of EUR 183 billion matured and
new deposits were collected in an amount of EUR 187 billion.
Recourse to the marginal lending
facility (asset item 5.5) was EUR 2.7 billion (compared with EUR 2
billion in the previous week), while recourse to the deposit facility
(liability item 2.2) was EUR 236.8 billion (compared with EUR 144.7 billion
in the preceding week).
As announced on 6 October 2011, the
Governing Council of the ECB decided to launch a second covered bond purchase programme, to be
implemented between November 2011 and the end of October 2012. Purchases
under this programme are recorded under securities
held for monetary policy purposes (asset item 7.1).
The holdings by the Eurosystem
of securities held for monetary policy purposes (asset item 7.1)
increased by EUR 8.3 billion to EUR 254.4 billion. This increase was due to
the net result of the settled purchases of EUR 8 billion under the Securities
Markets Programme and of EUR 0.5 billion under the
second covered bond purchase programme, as well as
the redemption of securities under the Securities Markets Programme.
Therefore, in the week ending 18 November 2011 the value of accumulated
purchases under the Securities Markets Programme
amounted to EUR 194.7 billion, while that of the portfolios held under the
first and second covered bond purchase programmes totalled EUR 59.2 billion and EUR 0.5 billion
respectively. All three 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 58.4 billion to EUR 236.5 billion.
Full press release here
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