Consolidated financial statement of the Eurosystem as at 29 January 2010

2 February 2010

Items not related to monetary policy operations

In the week ending 29 January 2010 the increase of EUR 1 million in gold and gold receivables (asset item 1) reflected the purchase of gold 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) increased by EUR 0.4 billion to EUR 158.7 billion on account of customer and portfolio transactions and a US dollar liquidity-providing transaction.

Extraordinary transactions
Value date Type of transaction Maturing amount New amount
27 January 2010 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 823.7 million CHF 817.7 million
28 January 2010 7-day US dollar liquidity-providing reverse transaction USD 75 million -

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 and 27 January 2010 respectively, Swiss franc and US dollar 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) increased by EUR 0.9 billion to EUR 297.7 billion. Banknotes in circulation (liability item 1) increased by EUR 0.2 billion to EUR 783.5 billion. Liabilities to general government (liability item 5.1) grew by EUR 10.8 billion to EUR 135.2 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 16.8 billion to EUR 561 billion. On Wednesday, 27 January 2010, a main refinancing operation of EUR 58 billion matured and a new one of EUR 63.4 billion was settled. On Thursday, 28 January 2010, a longer-term refinancing operation of EUR 3.3 billion matured and a new one of EUR 3.3 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 165.3 billion (compared with EUR 143.1 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.5 billion to EUR 33.5 billion in the week ending 29 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 24.7 billion to EUR 219.5 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 266,919 1
2 Claims on non-euro area residents denominated in foreign currency 193,793 −1,345
2.1 Receivables from the IMF 62,848 25
2.2 Balances with banks and security investments, external loans and other external assets 130,945 −1,370
3 Claims on euro area residents denominated in foreign currency 28,273 461
4 Claims on non-euro area residents denominated in euro 18,092 697
4.1 Balances with banks, security investments and loans 18,092 697
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 726,311 5,391
5.1 Main refinancing operations 64,044 5,414
5.2 Longer-term refinancing operations 662,159 −30
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 88 5
5.6 Credits related to margin calls 20 1
6 Other claims on euro area credit institutions denominated in euro 26,705 −1,763
7 Securities of euro area residents denominated in euro 331,188 2,341
7.1 Securities held for monetary policy purposes 33,532 1,478
7.2 Other securities 297,656 863
8 General government debt denominated in euro 36,171 0
9 Other assets 250,202 1,530
Total assets 1,877,655 7,313
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 783,544 192
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 384,802 −2,492
2.1 Current accounts (covering the minimum reserve system) 219,534 −24,687
2.2 Deposit facility 165,261 22,188
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 7 7
3 Other liabilities to euro area credit institutions denominated in euro 442 149
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 143,563 10,563
5.1 General government 135,231 10,785
5.2 Other liabilities 8,332 −222
6 Liabilities to non-euro area residents denominated in euro 40,245 −771
7 Liabilities to euro area residents denominated in foreign currency 2,718 −2,249
8 Liabilities to non-euro area residents denominated in foreign currency 9,395 967
8.1 Deposits, balances and other liabilities 9,395 967
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 167,455 953
11 Revaluation accounts 220,213 0
12 Capital and reserves 74,028 0
Total liabilities 1,877,655 7,313

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