Consolidated financial statement of the Eurosystem as at 30 January 2009

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.

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).

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.