Consolidated financial statement of the Eurosystem as at 24 July 2009

28 July 2009

Items not related to monetary policy operations

In the week ending 24 July 2009 gold and gold receivables (asset item 1) remained unchanged.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 1.5 billion to EUR 200 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
22 July 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 21.6 billion CHF 20.5 billion
23 July 2009 7-day US dollar liquidity-providing reverse transaction USD 43.8 billion USD 42.4 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 2.6 billion to EUR 302.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.9 billion to EUR 768.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 24.7 billion to EUR 157.2 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 17.5 billion to EUR 594.5 billion. On Wednesday, 22 July 2009, a main refinancing operation of EUR 100.3 billion matured and a new one of EUR 88.3 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 195.3 billion (compared with EUR 189.9 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 2.9 billion in the week ending 24 July 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 35 billion to EUR 194.5 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 232,126 0
2 Claims on non-euro area residents denominated in foreign currency 159,626 2
2.1 Receivables from the IMF 16,840 −7
2.2 Balances with banks and security investments, external loans and other external assets 142,786 9
3 Claims on euro area residents denominated in foreign currency 62,639 −239
4 Claims on non-euro area residents denominated in euro 19,947 −680
4.1 Balances with banks, security investments and loans 19,947 −680
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 789,848 −12,040
5.1 Main refinancing operations 88,273 −12,021
5.2 Longer-term refinancing operations 701,456 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 96 3
5.6 Credits related to margin calls 23 −22
6 Other claims on euro area credit institutions denominated in euro 23,989 1,228
7 Securities of euro area residents denominated in euro 305,619 4,422
7.1 Securities held for monetary policy purposes 2,901 1,821
7.2 Other securities 302,719 2,601
8 General government debt denominated in euro 36,230 0
9 Other assets 237,824 −556
Total assets 1,867,848 −7,864
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 768,445 −1,934
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 389,811 −29,604
2.1 Current accounts (covering the minimum reserve system) 194,492 −35,036
2.2 Deposit facility 195,315 5,442
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −10
3 Other liabilities to euro area credit institutions denominated in euro 260 −18
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 167,243 24,471
5.1 General government 157,174 24,744
5.2 Other liabilities 10,070 −273
6 Liabilities to non-euro area residents denominated in euro 107,028 −2,468
7 Liabilities to euro area residents denominated in foreign currency 4,425 719
8 Liabilities to non-euro area residents denominated in foreign currency 12,387 513
8.1 Deposits, balances and other liabilities 12,387 513
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,436 0
10 Other liabilities 152,057 458
11 Revaluation accounts 187,797 0
12 Capital and reserves 72,960 −1
Total liabilities 1,867,848 −7,864

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