Consolidated financial statement of the Eurosystem as at 11 December 2009

15 December 2009

Items not related to monetary policy operations

In the week ending 11 December 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 1.1 billion to EUR 163.4 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
9 December 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 4.4 billion CHF 3.7 billion
10 December 2009 7-day US dollar liquidity-providing reverse transaction USD 11.6 billion USD 9.6 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 0.3 billion to EUR 302.3 billion. Banknotes in circulation (liability item 1) increased by EUR 4.1 billion to EUR 789.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 11.1 billion to EUR 131.1 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) increased by EUR 72.4 billion to EUR 597.2 billion. On Tuesday, 8 December 2009, a main refinancing operation of EUR 58.1 billion matured and a new one of EUR 55.8 billion was settled. On the same day a longer-term refinancing operation of EUR 2.5 billion, with a maturity of 27 days, matured and a new one of EUR 2.7 billion, with a maturity of 43 days, was settled. On Thursday, 10 December 2009, a longer-term refinancing operation of EUR 3.2 billion, with a maturity of three months, matured and a new one of EUR 2.9 billion was settled. On the same day a longer-term refinancing operation of EUR 18.2 billion, with a maturity of six months, matured and a new one of EUR 1.7 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 32.1 billion (compared with EUR 123.4 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR  0.4 billion to EUR 26.7 billion in the week ending 11 December 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 83.2 billion to EUR 242.6 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 238,146 1
2 Claims on non-euro area residents denominated in foreign currency 191,939 −721
2.1 Receivables from the IMF 62,241 7
2.2 Balances with banks and security investments, external loans and other external assets 129,698 −728
3 Claims on euro area residents denominated in foreign currency 34,941 −1,032
4 Claims on non-euro area residents denominated in euro 15,159 −495
4.1 Balances with banks, security investments and loans 15,159 −495
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 629,285 −18,834
5.1 Main refinancing operations 56,457 −2,349
5.2 Longer-term refinancing operations 572,565 −16,581
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 238 100
5.6 Credits related to margin calls 25 −3
6 Other claims on euro area credit institutions denominated in euro 24,429 1,861
7 Securities of euro area residents denominated in euro 328,916 692
7.1 Securities held for monetary policy purposes 26,654 429
7.2 Other securities 302,262 263
8 General government debt denominated in euro 36,191 0
9 Other assets 245,535 3,641
Total assets 1,744,542 −14,887
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 789,353 4,132
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 274,667 −8,065
2.1 Current accounts (covering the minimum reserve system) 242,564 83,193
2.2 Deposit facility 32,093 −91,268
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 11 10
3 Other liabilities to euro area credit institutions denominated in euro 250 −136
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 139,807 −11,119
5.1 General government 131,109 −11,125
5.2 Other liabilities 8,697 6
6 Liabilities to non-euro area residents denominated in euro 48,918 −696
7 Liabilities to euro area residents denominated in foreign currency 3,581 345
8 Liabilities to non-euro area residents denominated in foreign currency 9,038 −980
8.1 Deposits, balances and other liabilities 9,038 −980
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 162,806 1,631
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,963 0
Total liabilities 1,744,542 −14,887

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