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Consolidated financial statement of the Eurosystem as at 1 January 2010

6 January 2010

Items not related to monetary policy operations

In the week ending 1 January 2010, the increase of EUR 28.8 billion in gold and gold receivables (asset item 1) reflected quarterly revaluation adjustments.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 3.3 billion to EUR 162.7 billion. This was due to quarterly revaluation adjustments, as well as customer and portfolio transactions carried out by Eurosystem central banks.

The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 1.2 billion to EUR 299.9 billion, mainly on account of quarter-end adjustments. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 806.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.2 billion to EUR 120.5 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 23.3 billion to EUR 587.8 billion. On Wednesday, 30 December 2009, a main refinancing operation of EUR 58.6 billion matured and a new one of EUR 78.6 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.3 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 162.1 billion (compared with EUR 164.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.3 billion to EUR 28.8 billion in the week ending 1 January 2010.

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 28.9 billion to EUR 233.5 billion.

Quarter-end revaluation of the Eurosystem’s assets and liabilities

In line with the Eurosystem’s harmonised accounting rules, gold, foreign exchange, securities holdings and financial instruments of the Eurosystem are revalued at market rates and prices as at the end of each quarter. The net impact of the revaluation on each balance sheet item as at 1 January 2010 is shown in the additional column “ Difference compared with last week due to quarter-end adjustments”. The gold price and the principal exchange rates used for the revaluation of balances were as follows:

Gold: EUR 766.347 per fine oz.

USD: 1.4406 per EUR

JPY: 133.16 per EUR

Special drawing rights: EUR 1.0886 per SDR


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