Consolidated financial statement of the Eurosystem as at 16 October 2009

20 October 2009

Items not related to monetary policy operations

In the week ending 16 October 2009 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the purchase of gold coin by one Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 1.2 billion to EUR 177.9 billion on account of customer and portfolio transactions and the US dollar liquidity-providing transaction.

Extraordinary transactions

Value date Type of transaction Maturing amount New amount
14 October 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 10 billion CHF 6.6 billion
15 October 2009 7-day US dollar liquidity-providing reverse transaction USD 31.1 billion USD 29.7 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 0.3 billion to EUR 305.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.4 billion to EUR 770.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 5.9 billion to EUR 144.4 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 73.6 billion to EUR 623.4 billion. On Wednesday, 14 October 2009, a main refinancing operation of EUR 62.6 billion matured and a new one of EUR 61.6 billion was settled. On the same day, a longer-term refinancing operation of EUR 10.6 billion, with a maturity of one month, matured and a new one of EUR 7.7 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 68 billion (compared with EUR 144.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.9 billion to EUR 18.3 billion in the week ending 16 October 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 77.5 billion to EUR 254 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 238,168 1
2 Claims on non-euro area residents denominated in foreign currency 194,322 641
2.1 Receivables from the IMF 62,869 12
2.2 Balances with banks and security investments, external loans and other external assets 131,453 629
3 Claims on euro area residents denominated in foreign currency 47,732 −1,204
4 Claims on non-euro area residents denominated in euro 15,007 −411
4.1 Balances with banks, security investments and loans 15,007 −411
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 691,350 −3,229
5.1 Main refinancing operations 62,265 −355
5.2 Longer-term refinancing operations 628,967 −2,883
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 94 10
5.6 Credits related to margin calls 24 −1
6 Other claims on euro area credit institutions denominated in euro 22,176 −1,794
7 Securities of euro area residents denominated in euro 324,173 1,293
7.1 Securities held for monetary policy purposes 18,299 946
7.2 Other securities 305,874 347
8 General government debt denominated in euro 36,205 1
9 Other assets 232,255 3,348
Total assets 1,801,388 −1,354
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 770,871 −1,392
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 321,978 662
2.1 Current accounts (covering the minimum reserve system) 253,982 77,458
2.2 Deposit facility 67,995 −76,789
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −7
3 Other liabilities to euro area credit institutions denominated in euro 312 143
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 158,272 5,944
5.1 General government 144,357 5,931
5.2 Other liabilities 13,914 13
6 Liabilities to non-euro area residents denominated in euro 70,877 −7,997
7 Liabilities to euro area residents denominated in foreign currency 3,959 −592
8 Liabilities to non-euro area residents denominated in foreign currency 9,323 1,189
8.1 Deposits, balances and other liabilities 9,323 1,189
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 50,906 0
10 Other liabilities 149,679 688
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,957 0
Total liabilities 1,801,388 −1,354

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