Consolidated financial statement of the Eurosystem as at 17 April 2009

21 April 2009

Items not related to monetary policy operations

In the week ending 17 April 2009 the decrease of EUR 6 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 2004).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 3.2 billion to EUR 277.2 billion on account of customer and portfolio transactions and US dollar liquidity-providing transactions.

Extraordinary transactions

Value date Type of transaction Maturing amount New amount
15 April 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 36.3 billion CHF 36 billion
16 April 2009 7-day US dollar liquidity-providing reverse transaction USD 77.5 billion USD 73.8 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 marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 1.1 billion to EUR 292.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 5.5 billion to EUR 756.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.9 billion to EUR 141.3 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) increased by EUR 13.3 billion to EUR 659.6 billion. On Wednesday, 15 April 2009, a main refinancing operation of EUR 237.6 billion matured and a new one of EUR 249.4 billion was settled. On Thursday, 16 April 2009, a longer-term refinancing operation of EUR 9.5 billion matured and a new one of EUR 13.2 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 1.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 21.9 billion (compared with EUR 21.5 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) increased by EUR 24.1 billion to EUR 256.3 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 241,663 −6
2 Claims on non-euro area residents denominated in foreign currency 157,016 −1,034
2.1 Receivables from the IMF 14,355 −5
2.2 Balances with banks and security investments, external loans and other external assets 142,661 −1,030
3 Claims on euro area residents denominated in foreign currency 139,379 −2,751
4 Claims on non-euro area residents denominated in euro 19,401 1,504
4.1 Balances with banks, security investments and loans 19,401 1,504
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 681,665 13,719
5.1 Main refinancing operations 249,411 11,776
5.2 Longer-term refinancing operations 432,162 3,695
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 80 −1,756
5.6 Credits related to margin calls 12 3
6 Other claims on euro area credit institutions denominated in euro 32,044 −1,565
7 Securities of euro area residents denominated in euro 292,829 −1,116
8 General government debt denominated in euro 37,397 0
9 Other assets 238,689 3,534
Total assets 1,840,083 12,285
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 756,560 −5,504
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 278,367 24,512
2.1 Current accounts (covering the minimum reserve system) 256,260 24,116
2.2 Deposit facility 21,872 384
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 236 11
3 Other liabilities to euro area credit institutions denominated in euro 320 25
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 149,763 −6,005
5.1 General government 141,303 −5,871
5.2 Other liabilities 8,460 −133
6 Liabilities to non-euro area residents denominated in euro 197,392 −2,629
7 Liabilities to euro area residents denominated in foreign currency 1,448 −1,454
8 Liabilities to non-euro area residents denominated in foreign currency 12,192 899
8.1 Deposits, balances and other liabilities 12,192 899
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,551 0
10 Other liabilities 162,688 2,692
11 Revaluation accounts 202,952 0
12 Capital and reserves 72,850 −251
Total liabilities 1,840,083 12,285

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