Consolidated financial statement of the Eurosystem as at 28 August 2009
Items not related to monetary policy operations
In the week ending 28 August 2009 the increase of EUR 2 million in gold and gold receivables (asset item 1) reflected the net purchases of gold coin by a 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 0.5 billion to EUR 194.6 billion on account of customer and portfolio transactions.
Extraordinary transactions
| Value date | Type of transaction | Maturing amount | New amount |
|---|---|---|---|
| 25 August 2009 | 3-month Danish krone foreign exchange swap | DKK 8.4 billion | DKK 3.3 billion |
| 25 August 2009 | 74-day Danish krone foreign exchange swap | DKK 7.1 billion | - |
| 26 August 2009 | 7-day Swiss franc liquidity-providing EUR/CHF foreign exchange swap | CHF 18.4 billion | CHF 15.5 billion |
| 27 August 2009 | 7-day US dollar liquidity-providing reverse transaction | USD 38.4 billion | USD 42.1 billion |
| 27 August 2009 | 28-day US dollar liquidity-providing reverse transaction | USD 0.1 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 Danmarks Nationalbank, 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 securities other than those held for monetary policy purposes (asset item 7.2) decreased by EUR 0.3 billion to EUR 304.3 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.2 billion to EUR 767.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 20.1 billion to EUR 134.6 billion.
The increase in the counterpart of special drawing rights (SDRs) allocated by the IMF (liability item 9) of EUR 40.9 billion reflects the allocation of SDRs by the IMF to the Eurosystem central banks. This allocation is part of the general SDR allocation, equivalent to USD 250 billion, to all IMF member countries which was approved by the IMF’s Board of Governors on 7 August 2009 and came into effect on 28 August 2009. The allocation is designed to provide liquidity to the global economic system by supplementing the foreign exchange reserves of the IMF member countries. The general SDR allocation was made to the IMF members participating in the SDR Department in proportion to their existing quotas.
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 0.1 billion to EUR 569.5 billion. On Wednesday, 26 August 2009, a main refinancing operation of EUR 76.1 billion matured and a new one of EUR 77.5 billion was settled. On Thursday, 27 August 2009, a longer-term refinancing operation of EUR 27.5 billion matured and a new one of EUR 8.3 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 142.6 billion (compared with EUR 160.2 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 8.8 billion in the week ending 28 August 2009.
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 18.2 billion to EUR 202.9 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 | 232,111 | 2 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 197,249 | 38,833 | |
| 2.1 | Receivables from the IMF | 57,944 | 40,851 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 139,305 | −2,017 | |
| 3 | Claims on euro area residents denominated in foreign currency | 59,285 | 2,350 | |
| 4 | Claims on non-euro area residents denominated in euro | 17,358 | 180 | |
| 4.1 | Balances with banks, security investments and loans | 17,358 | 180 | |
| 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 | 712,111 | −17,701 | |
| 5.1 | Main refinancing operations | 77,530 | 1,474 | |
| 5.2 | Longer-term refinancing operations | 634,424 | −19,222 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 108 | 46 | |
| 5.6 | Credits related to margin calls | 49 | 1 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 22,095 | −860 | |
| 7 | Securities of euro area residents denominated in euro | 313,090 | 537 | |
| 7.1 | Securities held for monetary policy purposes | 8,787 | 861 | |
| 7.2 | Other securities | 304,303 | −324 | |
| 8 | General government debt denominated in euro | 36,230 | 0 | |
| 9 | Other assets | 231,842 | −335 | |
| Total assets | 1,821,371 | 23,007 | ||
| 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 | 767,167 | −1,154 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 345,527 | −35,799 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 202,940 | −18,198 | |
| 2.2 | Deposit facility | 142,577 | −17,607 | |
| 2.3 | Fixed-term deposits | 0 | 0 | |
| 2.4 | Fine-tuning reverse operations | 0 | 0 | |
| 2.5 | Deposits related to margin calls | 10 | 6 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 219 | −2 | |
| 4 | Debt certificates issued | 0 | 0 | |
| 5 | Liabilities to other euro area residents denominated in euro | 145,255 | 20,083 | |
| 5.1 | General government | 134,600 | 20,082 | |
| 5.2 | Other liabilities | 10,656 | 1 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 93,391 | 2,047 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 3,422 | 438 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 12,236 | −581 | |
| 8.1 | Deposits, balances and other liabilities | 12,236 | −581 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 46,286 | 40,850 | |
| 10 | Other liabilities | 147,111 | −2,874 | |
| 11 | Revaluation accounts | 187,797 | 0 | |
| 12 | Capital and reserves | 72,958 | −1 | |
| Total liabilities | 1,821,371 | 23,007 | ||
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