Consolidated financial statement of the Eurosystem as at 18 December 2009

22 December 2009

Items not related to monetary policy operations

In the week ending 18 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 1.6 billion to EUR 161.8 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
16 December 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 3.7 billion CHF 3.3 billion
17 December 2009 7-day US dollar liquidity-providing reverse transaction USD 9.6 billion -
17 December 2009 6-day US dollar liquidity-providing reverse transaction - USD 7.6 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) decreased by EUR 0.7 billion to EUR 301.5 billion. Banknotes in circulation (liability item 1) increased by EUR 8.1 billion to EUR 797.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 26.5 billion to EUR 104.6 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 10.7 billion to EUR 586.4 billion. On Wednesday, 16 December 2009, a main refinancing operation of EUR 55.8 billion matured and a new one of EUR 52.9 billion was settled. On Thursday, 17 December 2009, a longer-term refinancing operation of EUR 2.8 billion, with a maturity of 77 days, matured and a new one of EUR 2.6 billion, with a maturity of 105 days, was settled. On the same day a longer-term refinancing operation of EUR 96.9 billion, with a maturity of one year, was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 136.5 billion (compared with EUR 32.1 billion in the preceding week).

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 10.3 billion to EUR 252.8 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 238,147 1
2 Claims on non-euro area residents denominated in foreign currency 192,094 155
2.1 Receivables from the IMF 62,257 16
2.2 Balances with banks and security investments, external loans and other external assets 129,838 139
3 Claims on euro area residents denominated in foreign currency 33,260 −1,682
4 Claims on non-euro area residents denominated in euro 15,733 574
4.1 Balances with banks, security investments and loans 15,733 574
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 722,935 93,650
5.1 Main refinancing operations 53,574 −2,883
5.2 Longer-term refinancing operations 669,288 96,723
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 45 −193
5.6 Credits related to margin calls 28 3
6 Other claims on euro area credit institutions denominated in euro 24,752 323
7 Securities of euro area residents denominated in euro 329,221 305
7.1 Securities held for monetary policy purposes 27,679 1,024
7.2 Other securities 301,542 −719
8 General government debt denominated in euro 36,183 −8
9 Other assets 250,027 4,492
Total assets 1,842,352 97,810
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 797,502 8,150
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 389,312 114,645
2.1 Current accounts (covering the minimum reserve system) 252,825 10,261
2.2 Deposit facility 136,477 104,385
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 10 −1
3 Other liabilities to euro area credit institutions denominated in euro 292 41
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 113,295 −26,511
5.1 General government 104,571 −26,538
5.2 Other liabilities 8,724 27
6 Liabilities to non-euro area residents denominated in euro 47,391 −1,527
7 Liabilities to euro area residents denominated in foreign currency 3,310 −271
8 Liabilities to non-euro area residents denominated in foreign currency 9,345 307
8.1 Deposits, balances and other liabilities 9,345 307
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 165,782 2,976
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,963 0
Total liabilities 1,842,352 97,810

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