Consolidated financial statement of the Eurosystem as at 12 June 2009
Items not related to monetary policy operations
In the week ending 12 June 2009 the decrease of EUR 21 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 3.9 billion to EUR 233.1 billion on account of customer and portfolio transactions, Danish krone and Swedish krona foreign exchange swaps and US dollar liquidity-providing transactions.
|Value date||Type of transaction||Maturing amount||New amount|
|10 June 2009||7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap||CHF 36 billion||CHF 32.5 billion|
|11 June 2009||7-day US dollar liquidity-providing reverse transaction||USD 63.4 billion||USD 51.8 billion|
|11 June 2009||3-month Swedish krona foreign exchange swap||-||SEK 32.4 billion|
|12 June 2009||3-month Danish krone foreign exchange swap||DKK 6 billion||-|
|12 June 2009||74-day Danish krone foreign exchange swap||-||DKK 7.1 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 Danmarks Nationalbank, Sveriges Riksbank, 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) increased by EUR 2.4 billion to EUR 300.6 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 762.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.2 billion to EUR 144.9 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 4.5 billion to EUR 599.6 billion. On Wednesday, 10 June 2009, a main refinancing operation of EUR 227.6 billion matured and a new one of EUR 302.1 billion was settled. On the same day, a longer-term refinancing operation of EUR 116.1 billion, with a maturity of one month, matured and a new one of EUR 56.8 billion was settled. On Thursday, 11 June 2009, a longer-term refinancing operation of EUR 30.2 billion, with a maturity of three months, matured and a new one of EUR 14.5 billion was settled. On the same day, a supplementary longer-term refinancing operation of EUR 38.1 billion, with a maturity of six months, matured and a new one of EUR 18.2 billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 1.7 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 11.3 billion (compared with EUR 28.8 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 6.6 billion to EUR 213.5 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||240,746||−21|
|2||Claims on non-euro area residents denominated in foreign currency||162,272||5,686|
|2.1||Receivables from the IMF||17,013||15|
|2.2||Balances with banks and security investments, external loans and other external assets||145,259||5,670|
|3||Claims on euro area residents denominated in foreign currency||90,851||−8,723|
|4||Claims on non-euro area residents denominated in euro||18,431||−326|
|4.1||Balances with banks, security investments and loans||18,431||−326|
|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||611,020||−21,862|
|5.1||Main refinancing operations||302,077||74,501|
|5.2||Longer-term refinancing operations||308,701||−94,855|
|5.3||Fine-tuning reverse operations||0||0|
|5.4||Structural reverse operations||0||0|
|5.5||Marginal lending facility||241||−1,498|
|5.6||Credits related to margin calls||0||−11|
|6||Other claims on euro area credit institutions denominated in euro||23,876||−205|
|7||Securities of euro area residents denominated in euro||300,606||2,439|
|8||General government debt denominated in euro||36,788||0|
|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||762,798||−696|
|2||Liabilities to euro area credit institutions related to monetary policy operations denominated in euro||224,940||−10,848|
|2.1||Current accounts (covering the minimum reserve system)||213,491||6,555|
|2.4||Fine-tuning reverse operations||0||0|
|2.5||Deposits related to margin calls||116||105|
|3||Other liabilities to euro area credit institutions denominated in euro||221||−15|
|4||Debt certificates issued||0||0|
|5||Liabilities to other euro area residents denominated in euro||152,896||7,857|
|6||Liabilities to non-euro area residents denominated in euro||131,799||−20,392|
|7||Liabilities to euro area residents denominated in foreign currency||3,204||−1,936|
|8||Liabilities to non-euro area residents denominated in foreign currency||11,237||2,776|
|8.1||Deposits, balances and other liabilities||11,237||2,776|
|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|
|12||Capital and reserves||72,976||−5|