Consolidated financial statement of the Eurosystem as at 30 January 2009

3 February 2009

Items not related to monetary policy operations

In the week ending 30 January 2009 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the net purchase of gold coin by one Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 38.1 billion to EUR 315 billion on account of customer and portfolio transactions and US dollar liquidity-providing operations. On Thursday, 29 January 2009, a US dollar liquidity-providing reverse transaction of USD 70.8 billion matured and a new transaction of USD 23.9 billion, with a maturity of 84 days, was settled. On the same day, a further US dollar liquidity-providing reverse transaction of USD 60.3 billion matured and a new transaction of USD 61.5 billion, with a maturity of seven days, was settled. Also on Thursday, 29 January 2009, an EUR/USD foreign exchange swap operation of USD 0.7 billion matured and a new operation of USD 0.6 billion, with a maturity of seven days, was settled, and a further EUR/USD foreign exchange swap operation of USD 0.7 billion, with a maturity of 84 days, matured. These two foreign exchange swap operations had no effect on the net position of the Eurosystem in foreign currency. All US dollar-denominated transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) between the European Central Bank (ECB) and the Federal Reserve System. On Wednesday, 28 January 2009, an EUR/CHF foreign exchange swap operation of CHF 28.3 billion matured and a new operation of CHF 28.5 billion, with a maturity of seven days, was settled. On Friday, 30 January 2009, an EUR/CHF foreign exchange swap operation of CHF 1.1 billion, with a maturity of 84 days, matured. These operations were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) between the ECB and the Swiss National Bank and had no effect on the net position of the Eurosystem in foreign currency.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 1 billion to EUR 283 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 740.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1.5 billion to EUR 120.3 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 60.4 billion to EUR 583.3 billion. On Wednesday, 28 January 2009, a main refinancing operation of EUR 251.5 billion matured and a new one of EUR 214.1 billion was settled. On Thursday, 29 January 2009, a longer-term refinancing operation of EUR 103.1 billion matured and a new one of EUR 43.2 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 4.8 billion (compared with EUR 1.6 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 164.9 billion (compared with EUR 198.7 billion in the preceding week).

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 51.2 billion to EUR 200.5 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 218,320 1
2 Claims on non-euro area residents denominated in foreign currency 159,179 −2,558
2.1 Receivables from the IMF 13,172 −45
2.2 Balances with banks and security investments, external loans and other external assets 146,008 −2,512
3 Claims on euro area residents denominated in foreign currency 171,214 −34,734
4 Claims on non-euro area residents denominated in euro 22,532 −292
4.1 Balances with banks, security investments and loans 22,532 −292
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 748,324 −94,083
5.1 Main refinancing operations 214,860 −37,365
5.2 Longer-term refinancing operations 528,617 −59,915
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 4,836 3,262
5.6 Credits related to margin calls 11 −65
6 Other claims on euro area credit institutions denominated in euro 33,509 −1,419
7 Securities of euro area residents denominated in euro 282,982 1,016
8 General government debt denominated in euro 37,439 0
9 Other assets 233,480 −751
Total assets 1,906,979 −132,820
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 740,264 294
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 365,607 −84,855
2.1 Current accounts (covering the minimum reserve system) 200,534 −51,165
2.2 Deposit facility 164,935 −33,739
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 138 49
3 Other liabilities to euro area credit institutions denominated in euro 409 −23
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 127,770 −2,787
5.1 General government 120,329 −1,540
5.2 Other liabilities 7,440 −1,247
6 Liabilities to non-euro area residents denominated in euro 232,203 −47,984
7 Liabilities to euro area residents denominated in foreign currency 1,828 462
8 Liabilities to non-euro area residents denominated in foreign currency 8,123 353
8.1 Deposits, balances and other liabilities 8,123 353
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,446 0
10 Other liabilities 177,593 1,708
11 Revaluation accounts 176,589 0
12 Capital and reserves 71,149 11
Total liabilities 1,906,979 −132,820

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