Consolidated financial statement of the Eurosystem as at 25 December 2009

29 December 2009

Items not related to monetary policy operations

In the week ending 25 December 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 1.7 billion to EUR 159.4 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
23 December 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 3.3 billion
23 December 2009 14-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap - CHF 2.7 billion
23 December 2009 6-day US dollar liquidity-providing reverse transaction USD 7.6 billion -
23 December 2009 15-day US dollar liquidity-providing reverse transaction - USD 5.5 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 0.5 billion to EUR 301 billion. Banknotes in circulation (liability item 1) increased by EUR 9.7 billion to EUR 807.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 21.1 billion to EUR 125.7 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 22 billion to EUR 564.5 billion. On Wednesday, 23 December 2009, a main refinancing operation of EUR 52.9 billion matured and a new one of EUR 58.6 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 164.1 billion (compared with EUR 136.5 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.8 billion to EUR 28.5 billion in the week ending 25 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) decreased by EUR 48.2 billion to EUR 204.6 billion.

Other issues

It should be noted with respect to the consolidated weekly financial statement of the Eurosystem as at 18 December 2009 (published on 22 December 2009) that receivables from the IMF (asset item 2.1) should have shown a balance of EUR 61,634 million, instead of EUR 62,257 million, and that liabilities to non-euro area residents denominated in euro (liability item 6) should have read EUR 46,768 million, instead of EUR 47,391 million.

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 0
2 Claims on non-euro area residents denominated in foreign currency 191,909 438
2.1 Receivables from the IMF 61,354 −279
2.2 Balances with banks and security investments, external loans and other external assets 130,554 717
3 Claims on euro area residents denominated in foreign currency 31,708 −1,551
4 Claims on non-euro area residents denominated in euro 15,696 −37
4.1 Balances with banks, security investments and loans 15,696 −37
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 728,584 5,649
5.1 Main refinancing operations 59,221 5,647
5.2 Longer-term refinancing operations 669,296 8
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 40 −6
5.6 Credits related to margin calls 27 −1
6 Other claims on euro area credit institutions denominated in euro 25,765 1,012
7 Securities of euro area residents denominated in euro 329,546 325
7.1 Securities held for monetary policy purposes 28,504 826
7.2 Other securities 301,042 −501
8 General government debt denominated in euro 36,188 5
9 Other assets 254,921 4,894
Total assets 1,852,463 10,734
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 807,191 9,689
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 368,683 −20,628
2.1 Current accounts (covering the minimum reserve system) 204,594 −48,231
2.2 Deposit facility 164,088 27,611
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −9
3 Other liabilities to euro area credit institutions denominated in euro 330 38
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 133,760 20,464
5.1 General government 125,693 21,122
5.2 Other liabilities 8,067 −658
6 Liabilities to non-euro area residents denominated in euro 46,459 −310
7 Liabilities to euro area residents denominated in foreign currency 3,703 393
8 Liabilities to non-euro area residents denominated in foreign currency 9,567 223
8.1 Deposits, balances and other liabilities 9,567 223
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 166,647 866
11 Revaluation accounts 192,254 0
12 Capital and reserves 72,964 1
Total liabilities 1,852,463 10,734

Media contacts