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Consolidated financial statement of the Eurosystem as at 5 November 2010

9 November 2010

Items not related to monetary policy operations

In the week ending 5 November 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) increased by EUR 0.2 billion to EUR 177.2 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations (see below).

Extraordinary operations
Value date Type of transaction Maturing amount New amount
4 November 2010 8-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 marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.6 billion to EUR 313.6 billion. Banknotes in circulation (liability item 1) rose by EUR 1.3 billion to EUR 816.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 28.9 billion to EUR 80.9 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 36.6 billion to EUR 383.6 billion. On Wednesday, 3 November 2010, a main refinancing operation of EUR 183.4 billion matured and a new one of EUR 178.4 billion was settled. Also on Wednesday, 3 November 2010, fixed-term deposits in an amount of EUR 63.5 billion matured and new deposits were collected in the same amount, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 81.7 billion (compared with EUR 50.3 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 711 million to EUR 125 billion as a result of settled purchases under the Securities Markets Programme. Therefore, in the week ending 5 November 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 64 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 15.2 billion to EUR 190 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 334,412 0
2 Claims on non-euro area residents denominated in foreign currency 220,253 −592
2.1 Receivables from the IMF 69,821 −29
2.2 Balances with banks and security investments, external loans and other external assets 150,431 −563
3 Claims on euro area residents denominated in foreign currency 23,709 −30
4 Claims on non-euro area residents denominated in euro 19,040 1,235
4.1 Balances with banks, security investments and loans 19,040 1,235
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 528,871 −5,223
5.1 Main refinancing operations 178,350 −5,088
5.2 Longer-term refinancing operations 350,386 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 131 −133
5.6 Credits related to margin calls 4 −2
6 Other claims on euro area credit institutions denominated in euro 28,353 −1,857
7 Securities of euro area residents denominated in euro 438,665 1,347
7.1 Securities held for monetary policy purposes 125,028 711
7.2 Other securities 313,637 635
8 General government debt denominated in euro 34,977 0
9 Other assets 258,073 −4,205
Total assets 1,886,353 −9,326
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 816,309 1,287
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 335,262 16,206
2.1 Current accounts (covering the minimum reserve system) 190,008 −15,221
2.2 Deposit facility 81,733 31,425
2.3 Fixed-term deposits 63,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 21 2
3 Other liabilities to euro area credit institutions denominated in euro 3,001 1,615
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 87,085 −29,118
5.1 General government 80,934 −28,857
5.2 Other liabilities 6,152 −261
6 Liabilities to non-euro area residents denominated in euro 41,884 −75
7 Liabilities to euro area residents denominated in foreign currency 1,354 418
8 Liabilities to non-euro area residents denominated in foreign currency 11,718 −1,216
8.1 Deposits, balances and other liabilities 11,718 −1,216
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 161,145 1,558
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,191 0
Total liabilities 1,886,353 −9,326
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