Consolidated financial statement of the Eurosystem as at 4 September 2009

8 September 2009

Items not related to monetary policy operations

In the week ending 4 September 2009 the decrease of EUR 31 million in gold and gold receivables (asset item 1) reflected the sale of gold by two Eurosystem central banks (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 0.2 billion to EUR 194.4 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
2 September 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 15.5 billion CHF 15.3 billion
3 September 2009 7-day US dollar liquidity-providing reverse transaction USD 42.1 billion USD 41.6 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 0.9 billion to EUR 305.2 billion. Banknotes in circulation (liability item 1) increased by EUR 2.8 billion to EUR 770 billion. Liabilities to general government (liability item 5.1) remained virtually unchanged at EUR 134.6 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 3 billion to EUR 566.6 billion. On Wednesday, 2 September 2009, a main refinancing operation of EUR 77.5 billion matured and a new one of EUR 72.1 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 140.1 billion (compared with EUR 142.6 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.4 billion to EUR 10.2 billion in the week ending 4 September 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 3.4 billion to EUR 199.6 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 232,081 −31
2 Claims on non-euro area residents denominated in foreign currency 196,250 −999
2.1 Receivables from the IMF 58,009 65
2.2 Balances with banks and security investments, external loans and other external assets 138,241 −1,064
3 Claims on euro area residents denominated in foreign currency 58,918 −366
4 Claims on non-euro area residents denominated in euro 16,999 −359
4.1 Balances with banks, security investments and loans 16,999 −359
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 706,663 −5,448
5.1 Main refinancing operations 72,086 −5,444
5.2 Longer-term refinancing operations 634,429 6
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 74 −35
5.6 Credits related to margin calls 74 24
6 Other claims on euro area credit institutions denominated in euro 23,335 1,241
7 Securities of euro area residents denominated in euro 315,423 2,332
7.1 Securities held for monetary policy purposes 10,224 1,436
7.2 Other securities 305,199 896
8 General government debt denominated in euro 36,230 0
9 Other assets 233,588 1,746
Total assets 1,819,488 −1,884
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 770,013 2,846
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 339,684 −5,843
2.1 Current accounts (covering the minimum reserve system) 199,572 −3,368
2.2 Deposit facility 140,108 −2,469
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 4 −6
3 Other liabilities to euro area credit institutions denominated in euro 164 −55
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 145,287 32
5.1 General government 134,635 35
5.2 Other liabilities 10,653 −3
6 Liabilities to non-euro area residents denominated in euro 94,068 677
7 Liabilities to euro area residents denominated in foreign currency 1,768 −1,653
8 Liabilities to non-euro area residents denominated in foreign currency 12,714 477
8.1 Deposits, balances and other liabilities 12,714 477
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 46,286 0
10 Other liabilities 148,747 1,635
11 Revaluation accounts 187,797 0
12 Capital and reserves 72,958 0
Total liabilities 1,819,488 −1,884

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