Consolidated financial statement of the Eurosystem as at 14 August 2009

18 August 2009

Items not related to monetary policy operations

In the week ending 14 August 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) increased by EUR 0.6 billion to EUR 198.7 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
12 August 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 18.5 billion CHF 17.6 billion
13 August 2009 7-day US dollar liquidity-providing reverse transaction USD 40.2 billion USD 45.2 billion
13 August 2009 84-day US dollar liquidity-providing reverse transaction USD 4.8 billion USD 0.5 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 1.2 billion to EUR 304.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.2 billion to EUR 772.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1.1 billion to EUR 113.3 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 77 billion to EUR 616.6 billion. On Wednesday, 12 August 2009, a main refinancing operation of EUR 80.8 billion matured and a new one of EUR 73.6 billion was settled. On the same day, a longer-term refinancing operation of EUR 38.3 billion, with a maturity of one month, matured and a new one of EUR 30.7 billion was settled. On Thursday, 13 August 2009, a longer-term refinancing operation of EUR 33.7 billion, with a maturity of three months, matured and a new one of EUR 13 billion was settled. On the same day, a longer-term refinancing operation of EUR 10.7 billion, with a maturity of six months, matured and a new one of EUR 11.9 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 110.8 billion (compared with EUR 222 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.5 billion to EUR 7 billion in the week ending 14 August 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) increased by EUR 82.1 billion to EUR 264.2 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 232,118 0
2 Claims on non-euro area residents denominated in foreign currency 158,429 406
2.1 Receivables from the IMF 17,093 72
2.2 Balances with banks and security investments, external loans and other external assets 141,335 333
3 Claims on euro area residents denominated in foreign currency 61,288 517
4 Claims on non-euro area residents denominated in euro 17,924 389
4.1 Balances with banks, security investments and loans 17,924 389
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 727,458 −34,173
5.1 Main refinancing operations 73,596 −7,189
5.2 Longer-term refinancing operations 653,646 −27,086
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 207 112
5.6 Credits related to margin calls 9 −10
6 Other claims on euro area credit institutions denominated in euro 22,607 −1,409
7 Securities of euro area residents denominated in euro 311,542 2,716
7.1 Securities held for monetary policy purposes 7,033 1,479
7.2 Other securities 304,510 1,238
8 General government debt denominated in euro 36,230 0
9 Other assets 234,162 −2,583
Total assets 1,801,757 −34,137
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 772,829 −2,204
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 375,003 −29,141
2.1 Current accounts (covering the minimum reserve system) 264,188 82,072
2.2 Deposit facility 110,812 −111,212
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −1
3 Other liabilities to euro area credit institutions denominated in euro 246 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 123,373 −1,249
5.1 General government 113,326 −1,141
5.2 Other liabilities 10,047 −108
6 Liabilities to non-euro area residents denominated in euro 98,758 419
7 Liabilities to euro area residents denominated in foreign currency 3,598 512
8 Liabilities to non-euro area residents denominated in foreign currency 12,017 −217
8.1 Deposits, balances and other liabilities 12,017 −217
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 149,742 −2,258
11 Revaluation accounts 187,797 0
12 Capital and reserves 72,959 0
Total liabilities 1,801,757 −34,137

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