Consolidated financial statement of the Eurosystem as at 9 July 2010

Items not related to monetary policy operations

In the week ending 9 July 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) increased by EUR 0.3 billion to EUR 191.1 billion on account of customer and portfolio transactions.

The holdings by the Eurosystem of securities other than those held for monetary policy purposes (asset item 7.2) increased by EUR 470 million to EUR 297.1 billion. Banknotes in circulation (liability item 1) increased by EUR 2.4 billion to EUR 818.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.9 billion to EUR 100.8 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 46.6 billion to EUR 370.5 billion. On Wednesday, 7 July 2010, a main refinancing operation of EUR 162.9 billion matured and a new one of EUR 229.1 billion was settled. On the same date a liquidity-providing fine-tuning operation of EUR 111.2 billion matured. Also on Wednesday, 7 July 2010, fixed-term deposits in an amount of EUR 31.9 billion matured and new deposits were collected in an amount of EUR 59 billion, with a maturity of one week.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.5 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 205.5 billion (compared with EUR 231.7 billion in the preceding week).

The holdings by the Eurosystem of securities held for monetary policy purposes (asset item 7.1) increased by EUR 832 million to EUR 120.9 billion as a result of settled purchases of EUR 796.5 million under the Securities Markets Programme and of EUR 35.5 million under the euro-denominated covered bond purchase programme.

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 33.6 billion to EUR 126.8 billion.