Consolidated financial statement of the Eurosystem as at 9 October 2009

13 October 2009

Items not related to monetary policy operations

In the week ending 9 October 2009, the decrease of EUR 2 million in gold and gold receivables (asset item 1) reflected the sale of gold by one Eurosystem central bank (consistent with the Central Bank Gold Agreement that came into effect on 27 September 2009).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 4.1 billion to EUR 179 billion on account of customer and portfolio transactions and the US dollar liquidity-providing transactions.

Extraordinary transactions

Value date Type of transaction Maturing amount New amount
7 October 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 9.9 billion CHF 10 billion
8 October 2009 7-day US dollar liquidity-providing reverse transaction USD 34.1 billion USD 31.1 billion
8 October 2009 84-day US dollar liquidity-providing reverse transaction USD 3.1 billion -
8 October 2009 91-day US dollar liquidity-providing reverse transaction - USD 1 billion

The liquidity-providing transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangements (swap lines) that the European Central Bank has with the Swiss National Bank and the Federal Reserve System. The EUR/CHF foreign exchange swap had no effect on the net position of the Eurosystem in foreign currency.

The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.4 billion to EUR 305.6 billion. Banknotes in circulation (liability item 1) increased by EUR 1.3 billion to EUR 772.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.4 billion to EUR 138.4 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 33.9 billion to EUR 549.8 billion. On Wednesday, 7 October 2009, a main refinancing operation of EUR 66.8 billion matured and a new one of EUR 62.6 billion was settled. On Thursday, 8 October 2009, a longer-term refinancing operation of EUR 3 billion, with a maturity of three months, matured and a new one of EUR 1.1 billion was settled. On the same day, a longer-term refinancing operation of EUR 36.1 billion, with a maturity of six months, matured and a new one of EUR 2.4 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 144.8 billion (compared with EUR 150.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.8 billion to EUR 17.4 billion in the week ending 9 October 2009.

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 41.8 billion to EUR 176.5 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 238,167 −2
2 Claims on non-euro area residents denominated in foreign currency 193,681 −718
2.1 Receivables from the IMF 62,857 0
2.2 Balances with banks and security investments, external loans and other external assets 130,824 −718
3 Claims on euro area residents denominated in foreign currency 48,937 −3,387
4 Claims on non-euro area residents denominated in euro 15,418 277
4.1 Balances with banks, security investments and loans 15,418 277
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 694,579 −39,745
5.1 Main refinancing operations 62,620 −4,147
5.2 Longer-term refinancing operations 631,850 −35,590
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 85 −7
5.6 Credits related to margin calls 25 −1
6 Other claims on euro area credit institutions denominated in euro 23,969 −706
7 Securities of euro area residents denominated in euro 322,880 2,124
7.1 Securities held for monetary policy purposes 17,353 1,774
7.2 Other securities 305,527 350
8 General government debt denominated in euro 36,204 0
9 Other assets 228,907 333
Total assets 1,802,742 −41,825
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 772,263 1,317
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 321,317 −47,590
2.1 Current accounts (covering the minimum reserve system) 176,524 −41,784
2.2 Deposit facility 144,784 −5,813
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 9 7
3 Other liabilities to euro area credit institutions denominated in euro 169 10
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 152,328 578
5.1 General government 138,427 −2,409
5.2 Other liabilities 13,901 2,988
6 Liabilities to non-euro area residents denominated in euro 78,874 2,534
7 Liabilities to euro area residents denominated in foreign currency 4,551 686
8 Liabilities to non-euro area residents denominated in foreign currency 8,133 −708
8.1 Deposits, balances and other liabilities 8,133 −708
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 50,906 0
10 Other liabilities 148,991 1,346
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,957 0
Total liabilities 1,802,742 −41,825

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