Consolidated financial statement of the Eurosystem as at 8 January 2010

12 January 2010

Items not related to monetary policy operations

In the week ending 8 January 2010 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 0.7 billion to EUR 162.1 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
6 January 2010 14-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 2.7 billion -
6 January 2010 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap - CHF 2.9 billion
7 January 2010 15-day US dollar liquidity-providing reverse transaction USD 5.5 billion -
7 January 2010 84-day US dollar liquidity-providing reverse transaction USD 1 billion -
7 January 2010 7-day US dollar liquidity-providing reverse transaction - USD 5.4 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 0.7 billion to EUR 300.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 10.1 billion to EUR 796.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.6 billion to EUR 114.9 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 90.9 billion to EUR 496.9 billion. On Wednesday, 6 January 2010, a main refinancing operation of EUR 78.6 billion matured and a new one of EUR 54 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 1.3 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 227.1 billion (compared with EUR 162.1 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 29.1 billion in the week ending 8 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) decreased by EUR 72.8 billion to EUR 160.7 billion.

Other issues

It should be noted that some items of the consolidated weekly financial statement of the Eurosystem as at 1 January 2010 (published on 6 January 2010) were updated, owing to the receipt of revised balance sheets from two Eurosystem central banks, although the changes were immaterial.

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 266,919 0
2 Claims on non-euro area residents denominated in foreign currency 196,138 659
2.1 Receivables from the IMF 62,816 17
2.2 Balances with banks and security investments, external loans and other external assets 133,322 642
3 Claims on euro area residents denominated in foreign currency 31,434 −717
4 Claims on non-euro area residents denominated in euro 16,190 992
4.1 Balances with banks, security investments and loans 16,190 992
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 724,030 −25,859
5.1 Main refinancing operations 54,652 −24,624
5.2 Longer-term refinancing operations 669,303 5
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 46 −1,243
5.6 Credits related to margin calls 30 3
6 Other claims on euro area credit institutions denominated in euro 26,890 609
7 Securities of euro area residents denominated in euro 329,637 985
7.1 Securities held for monetary policy purposes 29,112 330
7.2 Other securities 300,526 656
8 General government debt denominated in euro 36,171 10
9 Other assets 252,181 −2,009
Total assets 1,879,590 −25,331
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 796,391 −10,131
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 387,831 −7,783
2.1 Current accounts (covering the minimum reserve system) 160,684 −72,807
2.2 Deposit facility 227,141 65,024
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 6 0
3 Other liabilities to euro area credit institutions denominated in euro 497 157
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 123,371 −6,362
5.1 General government 114,933 −5,562
5.2 Other liabilities 8,438 −800
6 Liabilities to non-euro area residents denominated in euro 46,338 −421
7 Liabilities to euro area residents denominated in foreign currency 4,710 678
8 Liabilities to non-euro area residents denominated in foreign currency 9,560 −56
8.1 Deposits, balances and other liabilities 9,560 −56
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 51,249 0
10 Other liabilities 166,468 −1,374
11 Revaluation accounts 220,213 0
12 Capital and reserves 72,962 −39
Total liabilities 1,879,590 −25,331

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