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Consolidated financial statement of the Eurosystem as at 8 October 2010

12 October 2010

Items not related to monetary policy operations

In the week ending 8 October 2010 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) decreased by EUR 0.2 billion to EUR 176.5 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

Extraordinary transactions
Value date Type of transaction Maturing amount New amount
7 October 2010 7-day US dollar liquidity-providing reverse transaction USD 60 million USD 60 million

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 securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 2 billion to EUR 309 billion. Banknotes in circulation (liability item 1) increased by EUR 1 billion to EUR 815.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 4.9 billion to EUR 93.2 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 46.9 billion to EUR 356.2 billion. On Wednesday, 6 October 2010, a main refinancing operation of EUR 166.4 billion matured and a new one of EUR 197 billion was settled. On the same day, a liquidity-providing fine-tuning operation of EUR 29.4 billion matured. Also on Wednesday, 6 October 2010, fixed-term deposits in an amount of EUR 61.5 billion matured and new deposits were collected in an amount of EUR 63.5 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.4 billion (compared with EUR 1.6 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 94.4 billion (compared with EUR 49.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 9 million to EUR 124.3 billion. This is due to settled purchases under the Securities Markets Programme. Therefore, in the week ending 8 October 2010 the value of the accumulated purchases under the Securities Markets Programme and that of the portfolio held under the covered bond purchase programme totalled EUR 63.3 billion and EUR 61 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 38.6 billion to EUR 151.7 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 334,411 0
2 Claims on non-euro area residents denominated in foreign currency 219,888 257
2.1 Receivables from the IMF 70,017 −67
2.2 Balances with banks and security investments, external loans and other external assets 149,871 324
3 Claims on euro area residents denominated in foreign currency 24,348 −573
4 Claims on non-euro area residents denominated in euro 18,342 693
4.1 Balances with banks, security investments and loans 18,342 693
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 514,201 84
5.1 Main refinancing operations 197,049 30,688
5.2 Longer-term refinancing operations 316,744 0
5.3 Fine-tuning reverse operations 0 −29,443
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 391 −1,168
5.6 Credits related to margin calls 17 7
6 Other claims on euro area credit institutions denominated in euro 29,081 2,829
7 Securities of euro area residents denominated in euro 433,329 2,011
7.1 Securities held for monetary policy purposes 124,317 9
7.2 Other securities 309,013 2,002
8 General government debt denominated in euro 34,975 0
9 Other assets 259,378 −3,233
Total assets 1,867,952 2,068
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 815,857 1,013
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 309,685 8,386
2.1 Current accounts (covering the minimum reserve system) 151,717 −38,557
2.2 Deposit facility 94,413 44,943
2.3 Fixed-term deposits 63,500 2,000
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 54 1
3 Other liabilities to euro area credit institutions denominated in euro 1,195 −151
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 99,154 −5,769
5.1 General government 93,215 −4,858
5.2 Other liabilities 5,939 −910
6 Liabilities to non-euro area residents denominated in euro 42,565 657
7 Liabilities to euro area residents denominated in foreign currency 1,627 561
8 Liabilities to non-euro area residents denominated in foreign currency 12,396 −669
8.1 Deposits, balances and other liabilities 12,396 −669
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,665 0
10 Other liabilities 156,877 −1,961
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,191 0
Total liabilities 1,867,952 2,068
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