Consolidated financial statement of the Eurosystem as at 12 March 2010

Items not related to monetary policy operations

In the week ending 12 March 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) remained virtually unchanged at EUR 160.9 billion.

The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 0.3 billion to EUR 297.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.2 billion to EUR 788.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 3.6 billion to EUR 104.9 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) increased by EUR 97.4 billion to EUR 562.5 billion. On Wednesday, 10 March 2010, a main refinancing operation of EUR 80.5 billion matured and a new one of EUR 78.4 billion was settled. On the same day, a longer-term refinancing operation of EUR 2.8 billion, with a maturity of one month, matured and a new one of EUR 9.3 billion was settled. On Thursday, 11 March 2010, a longer-term refinancing operation of EUR 2.9 billion, with a maturity of three months, matured, as did a longer-term refinancing operation of EUR 3.69 billion, with a maturity of six months.

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 160.3 billion (compared with EUR 259.8 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 1.9 billion to EUR 41.5 billion in the week ending 12 March 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 98.7 billion to EUR 262.7 billion.

Other issues

It should be noted that some items of the consolidated weekly financial statement of the Eurosystem as at 5 March 2010 (published on 9 March 2010) have been updated, owing to the receipt of a revised balance sheet from one Eurosystem central bank, although the changes were immaterial.