Consolidated financial statement of the Eurosystem as at 13 November 2009

17 November 2009

Items not related to monetary policy operations

In the week ending 13 November 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) remained virtually unchanged at EUR 171.9 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
11 November 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 7.8 billion CHF 6.8 billion
12 November 2009 7-day US dollar liquidity-providing reverse transaction USD 22.2 billion USD 22 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 0.5 billion to EUR 303 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 773.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 9.8 billion to EUR 147.3 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 54.7 billion to EUR 595.6 billion. On Wednesday, 11 November 2009, a main refinancing operation of EUR 46.2 billion matured and a new one of EUR 51.3 billion was settled. On the same day, a longer-term refinancing operation of EUR 7.7 billion, with a maturity of one month, matured and a new one of EUR 2.5 billion was settled. On Thursday, 12 November 2009, a longer-term refinancing operation of EUR 13 billion, with a maturity of three months, matured and a new one of EUR 10.8 billion was settled. On the same day, a longer-term refinancing operation of EUR 20.7 billion, with a maturity of six months, matured and a new one of EUR 0.8 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 2.5 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 54.3 billion (compared with EUR 128.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.1 billion to EUR 22.7 billion in the week ending 13 November 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 51.3 billion to EUR 232.2 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 238,150 1
2 Claims on non-euro area residents denominated in foreign currency 193,981 941
2.1 Receivables from the IMF 62,228 398
2.2 Balances with banks and security investments, external loans and other external assets 131,753 543
3 Claims on euro area residents denominated in foreign currency 41,880 −679
4 Claims on non-euro area residents denominated in euro 16,742 252
4.1 Balances with banks, security investments and loans 16,742 252
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 649,907 −19,957
5.1 Main refinancing operations 51,950 5,050
5.2 Longer-term refinancing operations 595,400 −27,347
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2,523 2,418
5.6 Credits related to margin calls 34 −77
6 Other claims on euro area credit institutions denominated in euro 21,767 1,611
7 Securities of euro area residents denominated in euro 325,762 1,681
7.1 Securities held for monetary policy purposes 22,745 1,135
7.2 Other securities 303,017 546
8 General government debt denominated in euro 36,195 0
9 Other assets 235,221 2,070
Total assets 1,759,605 −14,080
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 773,175 −654
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 286,503 −23,311
2.1 Current accounts (covering the minimum reserve system) 232,212 51,314
2.2 Deposit facility 54,289 −74,624
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −1
3 Other liabilities to euro area credit institutions denominated in euro 442 −8
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 155,518 9,565
5.1 General government 147,343 9,822
5.2 Other liabilities 8,175 −257
6 Liabilities to non-euro area residents denominated in euro 58,224 −3,570
7 Liabilities to euro area residents denominated in foreign currency 4,172 848
8 Liabilities to non-euro area residents denominated in foreign currency 8,912 −618
8.1 Deposits, balances and other liabilities 8,912 −618
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 156,543 3,669
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,956 −1
Total liabilities 1,759,605 −14,080

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