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Consolidated financial statement of the Eurosystem as at 29 October 2010

2 November 2010

Items not related to monetary policy operations

In the week ending 29 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) increased by EUR 0.2 billion to EUR 177 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
28 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 marketable securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 1.7 billion to EUR 313 billion. Banknotes in circulation (liability item 1) increased by EUR 3.8 billion to EUR 815 billion. Liabilities to general government (liability item 5.1) increased by EUR 14.6 billion to EUR 109.8 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 6.6 billion to EUR 420.3 billion. On Wednesday, 27 October 2010, a main refinancing operation of EUR 184 billion matured and a new one of EUR 183.4 billion was settled. Also on Wednesday, 27 October 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. On Thursday, 28 October 2010, a longer-term refinancing operation of EUR 23.2 billion matured and a new one of EUR 42.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.9 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 50.3 billion (compared with EUR 25.7 billion in the preceding week).

Since there were no new settled purchases under the Securities Markets Programme in the course of the week, the holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) remained unchanged at EUR 124.3 billion. As a result, in the week ending 29 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 25.3 billion to EUR 205.2 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 220,845 1,038
2.1 Receivables from the IMF 69,850 −108
2.2 Balances with banks and security investments, external loans and other external assets 150,995 1,145
3 Claims on euro area residents denominated in foreign currency 23,739 −62
4 Claims on non-euro area residents denominated in euro 17,806 −111
4.1 Balances with banks, security investments and loans 17,806 −111
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 534,093 18,035
5.1 Main refinancing operations 183,438 −591
5.2 Longer-term refinancing operations 350,386 19,309
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 264 −673
5.6 Credits related to margin calls 6 −10
6 Other claims on euro area credit institutions denominated in euro 30,210 −473
7 Securities of euro area residents denominated in euro 437,319 1,745
7.1 Securities held for monetary policy purposes 124,317 0
7.2 Other securities 313,002 1,745
8 General government debt denominated in euro 34,977 1
9 Other assets 262,278 −2,459
Total assets 1,895,679 17,716
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 815,022 3,834
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 319,056 −653
2.1 Current accounts (covering the minimum reserve system) 205,229 −25,266
2.2 Deposit facility 50,308 24,651
2.3 Fixed-term deposits 63,500 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 19 −38
3 Other liabilities to euro area credit institutions denominated in euro 1,386 810
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 116,203 14,694
5.1 General government 109,791 14,610
5.2 Other liabilities 6,412 84
6 Liabilities to non-euro area residents denominated in euro 41,959 438
7 Liabilities to euro area residents denominated in foreign currency 935 −1,189
8 Liabilities to non-euro area residents denominated in foreign currency 12,934 1,992
8.1 Deposits, balances and other liabilities 12,934 1,992
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 159,588 −2,209
11 Revaluation accounts 296,740 0
12 Capital and reserves 78,191 0
Total liabilities 1,895,679 17,716
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