Consolidated financial statement of the Eurosystem as at 23 October 2009

27 October 2009

Items not related to monetary policy operations

In the week ending 23 October 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 3.2 billion to EUR 174.7 billion on account of customer and portfolio transactions and the US dollar liquidity-providing transactions.

Extraordinary transactions

Value date Type of transaction Maturing amount New amount
21 October 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 6.6 billion CHF 8 billion
22 October 2009 7-day US dollar liquidity-providing reverse transaction USD 29.7 billion USD 24.2 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) decreased by EUR 0.2 billion to EUR 305.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.1 billion to EUR 768.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.8 billion to EUR 153.1 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 24.5 billion to EUR 598.9 billion. On Wednesday, 21 October 2009, a main refinancing operation of EUR 61.6 billion matured and a new one of EUR 49.8 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 80.7 billion (compared with EUR 68 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 19.7 billion in the week ending 23 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) decreased by EUR 34.4 billion to EUR 219.6 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 238,169 0
2 Claims on non-euro area residents denominated in foreign currency 195,007 685
2.1 Receivables from the IMF 63,147 278
2.2 Balances with banks and security investments, external loans and other external assets 131,859 407
3 Claims on euro area residents denominated in foreign currency 44,109 −3,623
4 Claims on non-euro area residents denominated in euro 15,313 306
4.1 Balances with banks, security investments and loans 15,313 306
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 679,583 −11,767
5.1 Main refinancing operations 50,503 −11,762
5.2 Longer-term refinancing operations 628,964 −3
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 79 −16
5.6 Credits related to margin calls 38 14
6 Other claims on euro area credit institutions denominated in euro 21,115 −1,061
7 Securities of euro area residents denominated in euro 325,438 1,265
7.1 Securities held for monetary policy purposes 19,746 1,447
7.2 Other securities 305,692 −182
8 General government debt denominated in euro 36,205 0
9 Other assets 231,184 −1,071
Total assets 1,786,122 −15,266
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 768,735 −2,136
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 300,265 −21,713
2.1 Current accounts (covering the minimum reserve system) 219,566 −34,416
2.2 Deposit facility 80,697 12,703
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 0
3 Other liabilities to euro area credit institutions denominated in euro 368 56
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 167,352 9,080
5.1 General government 153,116 8,758
5.2 Other liabilities 14,236 322
6 Liabilities to non-euro area residents denominated in euro 69,651 −1,227
7 Liabilities to euro area residents denominated in foreign currency 2,456 −1,503
8 Liabilities to non-euro area residents denominated in foreign currency 11,043 1,720
8.1 Deposits, balances and other liabilities 11,043 1,720
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 150,135 456
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,957 0
Total liabilities 1,786,122 −15,266

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