Consolidated financial statement of the Eurosystem as at 22 January 2010

26 January 2010

Items not related to monetary policy operations

In the week ending 22 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 0.8 billion to EUR 158.3 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
20 January 2010 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 2.2 billion CHF 0.8 billion
21 January 2010 7-day US dollar liquidity-providing reverse transaction USD 1.2 billion USD 0.08 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 swaps had no effect on the net position of the Eurosystem in foreign currency. As announced on 18 January 2010 these Swiss franc liquidity-providing operations will no longer be conducted after 31 January 2010.

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 296.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 4.6 billion to EUR 783.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 14 billion to EUR 124.4 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 90.1 billion to EUR 577.8 billion. On Wednesday, 20 January 2010, a main refinancing operation of EUR 60.1 billion matured and a new one of EUR 58 billion was settled. On the same day a longer-term refinancing operation of EUR 2.7 billion matured and a new one of EUR 5.7 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 143.1 billion (compared with EUR 232.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 2.2 billion to EUR 32.1 billion in the week ending 22 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 81.9 billion to EUR 244.2 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 266,918 0
2 Claims on non-euro area residents denominated in foreign currency 195,138 −1,273
2.1 Receivables from the IMF 62,822 6
2.2 Balances with banks and security investments, external loans and other external assets 132,316 −1,279
3 Claims on euro area residents denominated in foreign currency 27,812 −358
4 Claims on non-euro area residents denominated in euro 17,395 71
4.1 Balances with banks, security investments and loans 17,395 71
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 720,920 1,045
5.1 Main refinancing operations 58,629 −2,078
5.2 Longer-term refinancing operations 662,188 3,085
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 83 37
5.6 Credits related to margin calls 19 0
6 Other claims on euro area credit institutions denominated in euro 28,468 1,204
7 Securities of euro area residents denominated in euro 328,848 1,675
7.1 Securities held for monetary policy purposes 32,054 2,160
7.2 Other securities 296,793 −485
8 General government debt denominated in euro 36,171 0
9 Other assets 248,673 −2,627
Total assets 1,870,342 −264
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 783,351 −4,552
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 387,294 −7,222
2.1 Current accounts (covering the minimum reserve system) 244,221 81,861
2.2 Deposit facility 143,073 −89,074
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −10
3 Other liabilities to euro area credit institutions denominated in euro 293 −224
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 133,000 13,906
5.1 General government 124,445 13,980
5.2 Other liabilities 8,554 −74
6 Liabilities to non-euro area residents denominated in euro 41,016 −2,388
7 Liabilities to euro area residents denominated in foreign currency 4,967 −26
8 Liabilities to non-euro area residents denominated in foreign currency 8,428 −787
8.1 Deposits, balances and other liabilities 8,428 −787
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 166,502 1,029
11 Revaluation accounts 220,213 0
12 Capital and reserves 74,028 1
Total liabilities 1,870,342 −264

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