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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.

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