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Consolidated financial statement of the Eurosystem as at 10 April 2009

15 April 2009

Items not related to monetary policy operations

In the week ending 10 April 2009 the decrease of EUR 3 million in gold and gold receivables (asset item 1) reflected the sale of gold by one Eurosystem central bank (consistent with the Central Bank Gold Agreement that came into effect on 27 September 2004).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 10.4 billion to EUR 280.4 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
8 April 2009 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap CHF 36 billion CHF 36.3 billion
9 April 2009 7-day US dollar liquidity-providing reverse transaction USD 93.1 billion USD 77.5 billion
9 April 2009 28-day US dollar liquidity-providing reverse transaction USD 16 billion USD 19.4 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 swap had no effect on the net position of the Eurosystem in foreign currency.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 2 billion to EUR 293.9 billion. Banknotes in circulation (liability item 1) increased by EUR 9.3 billion to EUR 762.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 4.1 billion to EUR 147.2 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) increased by EUR 55.3 billion to EUR 646.2 billion. On Wednesday, 8 April 2009, a main refinancing operation of EUR 238.1 billion matured and a new one of EUR 237.6 billion was settled. On the same day, a supplementary longer-term refinancing operation of EUR 120.2 billion matured and a new one of EUR 131.8 billion, with a maturity of 35 days, was settled. On Thursday, 9 April 2009, a longer-term refinancing operation of EUR 50 billion matured and a new one of EUR 36.1 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 1.8 billion (compared with EUR 0.8 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 21.5 billion (compared with EUR 78.5 billion in the preceding week).

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 42.5 billion to EUR 232.1 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 241,669 −3
2 Claims on non-euro area residents denominated in foreign currency 158,050 −513
2.1 Receivables from the IMF 14,360 −36
2.2 Balances with banks and security investments, external loans and other external assets 143,690 −477
3 Claims on euro area residents denominated in foreign currency 142,130 −9,167
4 Claims on non-euro area residents denominated in euro 17,897 680
4.1 Balances with banks, security investments and loans 17,897 680
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 667,946 −1,662
5.1 Main refinancing operations 237,635 −436
5.2 Longer-term refinancing operations 428,467 −2,279
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1,836 1,051
5.6 Credits related to margin calls 9 3
6 Other claims on euro area credit institutions denominated in euro 33,609 477
7 Securities of euro area residents denominated in euro 293,945 2,013
8 General government debt denominated in euro 37,397 0
9 Other assets 235,154 −411
Total assets 1,827,798 −8,586
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 762,064 9,282
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 253,856 −14,500
2.1 Current accounts (covering the minimum reserve system) 232,143 42,504
2.2 Deposit facility 21,488 −57,029
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 225 25
3 Other liabilities to euro area credit institutions denominated in euro 295 47
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 155,768 4,489
5.1 General government 147,174 4,116
5.2 Other liabilities 8,593 373
6 Liabilities to non-euro area residents denominated in euro 200,021 −9,157
7 Liabilities to euro area residents denominated in foreign currency 2,901 −167
8 Liabilities to non-euro area residents denominated in foreign currency 11,293 863
8.1 Deposits, balances and other liabilities 11,293 863
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,551 0
10 Other liabilities 159,996 65
11 Revaluation accounts 202,952 0
12 Capital and reserves 73,102 491
Total liabilities 1,827,798 −8,586
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