Consolidated financial statement of the Eurosystem as at 2 April 2010

8 April 2010

Items not related to monetary policy operations

In the week ending 2 April 2010, the increase of EUR 19.8 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 9.6 billion to EUR 170.9 billion. This was due to quarterly revaluation adjustments, as well as to 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) increased by EUR 1.4 billion to EUR 300.8 billion, mainly on account of transactions. Banknotes in circulation (liability item 1) increased by EUR 10.4 billion to EUR 801.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.1 billion to EUR 118.2 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 14.1 billion to EUR 497.4 billion. On Wednesday, 31 March 2010, a main refinancing operation of EUR 81 billion matured and a new one of EUR 78.3 billion was settled. On Thursday, 1 April 2010, a longer-term refinancing operation of EUR 2.6 billion, with a maturity of three months, matured and a new one of EUR 2 billion was settled, as was a longer-term refinancing operation of EUR 17.9 billion with a maturity of six months.

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 242.7 billion (compared with EUR 213.9 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 0.9 billion to EUR 44.4 billion in the week ending 2 April 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 20.7 billion to EUR 179.2 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 2 April 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 823.132 per fine oz.

USD: 1.3479 per EUR

JPY: 125.93 per EUR

Special drawing rights: EUR 1.1265 per SDR

Assets (EUR millions) Balance Difference compared with last week due to
i)transactions
ii)quarter-end adjustments
Totals/sub-totals may not add up, due to rounding
i) ii)
1 Gold and gold receivables 286,699 0 19,779
2 Claims on non-euro area residents denominated in foreign currency 210,554 1,796 10,168
2.1 Receivables from the IMF 66,497 −42 2,189
2.2 Balances with banks and security investments, external loans and other external assets 144,058 1,838 7,978
3 Claims on euro area residents denominated in foreign currency 29,261 −955 1,755
4 Claims on non-euro area residents denominated in euro 17,551 1,835 58
4.1 Balances with banks, security investments and loans 17,551 1,835 58
4.2 Claims arising from the credit facility under ERM II 0 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 740,025 14,615 0
5.1 Main refinancing operations 78,266 −2,796 0
5.2 Longer-term refinancing operations 661,651 17,336 0
5.3 Fine-tuning reverse operations 0 0 0
5.4 Structural reverse operations 0 0 0
5.5 Marginal lending facility 69 68 0
5.6 Credits related to margin calls 39 7 0
6 Other claims on euro area credit institutions denominated in euro 26,742 −413 0
7 Securities of euro area residents denominated in euro 345,203 2,133 134
7.1 Securities held for monetary policy purposes 44,429 927 −46
7.2 Other securities 300,774 1,205 181
8 General government debt denominated in euro 36,122 0 −25
9 Other assets 250,391 −6,092 2,863
Total assets 1,942,548 12,918 34,733
Liabilities (EUR millions) Balance Difference compared with last week due to
i)transactions
ii)quarter-end adjustments
Totals/sub-totals may not add up, due to rounding
i) ii)
1 Banknotes in circulation 801,712 10,372 0
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 421,837 8,000 0
2.1 Current accounts (covering the minimum reserve system) 179,171 −20,728 0
2.2 Deposit facility 242,659 28,724 0
2.3 Fixed-term deposits 0 0 0
2.4 Fine-tuning reverse operations 0 0 0
2.5 Deposits related to margin calls 7 4 0
3 Other liabilities to euro area credit institutions denominated in euro 670 −104 0
4 Debt certificates issued 0 0 0
5 Liabilities to other euro area residents denominated in euro 126,333 −1,914 0
5.1 General government 118,150 −2,063 0
5.2 Other liabilities 8,183 149 0
6 Liabilities to non-euro area residents denominated in euro 37,197 −429 0
7 Liabilities to euro area residents denominated in foreign currency 1,381 −325 74
8 Liabilities to non-euro area residents denominated in foreign currency 14,546 769 868
8.1 Deposits, balances and other liabilities 14,546 769 868
8.2 Liabilities arising from the credit facility under ERM II 0 0 0
9 Counterpart of special drawing rights allocated by the IMF 53,033 0 1,784
10 Other liabilities 160,193 −3,457 3,014
11 Revaluation accounts 249,205 0 28,992
12 Capital and reserves 76,440 7 0
Total liabilities 1,942,548 12,918 34,733

Media contacts