Consolidated opening financial statement of the Eurosystem as at 1 January 2009 and Consolidated financial statement of the Eurosystem as at 2 January 2009
Consolidated opening financial statement of the Eurosystem as at 1 January 2009
As announced last week, the ECB is publishing a consolidated opening financial statement of the Eurosystem as at 1 January 2009, which includes the balance sheet figures of Národná banka Slovenska that joined the Eurosystem on that day, together with the consolidated weekly financial statement as at 2 January 2009. As a consequence of the entry of Národná banka Slovenska into the Eurosystem, items previously denominated in Slovak koruna have been moved from items “denominated in foreign currency” to items “denominated in euro”. Transactions and balances of accounts held with residents of Slovakia have been moved from “non-euro area” balance sheet items to “euro area” items. Furthermore, the item capital and reserves (liability item 12) has increased in comparison with that in the consolidated weekly financial statement as at 31 December 2008 on account of the entry of Národná banka Slovenska into the Eurosystem.
| Assets (EUR millions) | Balance | ||
|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | |||
| 1 | Gold and gold receivables | 218,421 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 161,454 | |
| 2.1 | Receivables from the IMF | 13,212 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 148,242 | |
| 3 | Claims on euro area residents denominated in foreign currency | 234,051 | |
| 4 | Claims on non-euro area residents denominated in euro | 19,653 | |
| 4.1 | Balances with banks, security investments and loans | 19,653 | |
| 4.2 | Claims arising from the credit facility under ERM II | 0 | |
| 5 | Lending to euro area credit institutions related to monetary policy operations denominated in euro | 860,611 | |
| 5.1 | Main refinancing operations | 239,565 | |
| 5.2 | Longer-term refinancing operations | 616,922 | |
| 5.3 | Fine-tuning reverse operations | 0 | |
| 5.4 | Structural reverse operations | 0 | |
| 5.5 | Marginal lending facility | 4,057 | |
| 5.6 | Credits related to margin calls | 66 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 58,119 | |
| 7 | Securities of euro area residents denominated in euro | 282,196 | |
| 8 | General government debt denominated in euro | 37,469 | |
| 9 | Other assets | 225,865 | |
| Total assets | 2,097,839 | ||
| Liabilities (EUR millions) | Balance | ||
|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | |||
| 1 | Banknotes in circulation | 766,231 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 506,576 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 293,622 | |
| 2.2 | Deposit facility | 203,601 | |
| 2.3 | Fixed-term deposits | 0 | |
| 2.4 | Fine-tuning reverse operations | 9,240 | |
| 2.5 | Deposits related to margin calls | 113 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 340 | |
| 4 | Debt certificates issued | 1,003 | |
| 5 | Liabilities to other euro area residents denominated in euro | 91,371 | |
| 5.1 | General government | 83,270 | |
| 5.2 | Other liabilities | 8,102 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 293,654 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 5,800 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 10,514 | |
| 8.1 | Deposits, balances and other liabilities | 10,514 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 5,446 | |
| 10 | Other liabilities | 168,317 | |
| 11 | Revaluation accounts | 176,589 | |
| 12 | Capital and reserves | 71,998 | |
| Total liabilities | 2,097,839 | ||
Consolidated financial statement of the Eurosystem as at 2 January 2009 (compared with the opening financial statement of the Eurosystem as at 1 January 2009)
Items not related to monetary policy operations
On Friday, 2 January 2009, the decrease of EUR 6 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 7.1 billion to EUR 366.7 billion on account of customer and portfolio transactions as well as liquidity-providing operations. On Friday, 2 January 2009, a US dollar liquidity-providing reverse transaction of USD 20 billion matured and a new transaction of USD 10.8 billion, with a maturity of 84 days, was settled. On the same day, an EUR/USD foreign exchange swap operation of USD 0.1 billion, with a maturity of 84 days, was settled. This foreign exchange swap operation had no effect on the net position of the Eurosystem in foreign currency. All US dollar-denominated transactions were conducted by the Eurosystem in connection with the temporary reciprocal currency arrangement (swap line) between the ECB and the Federal Reserve System.
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.5 billion to EUR 282.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.5 billion to EUR 763.7 billion. Liabilities to general government (liability item 5.1) rose by EUR 2.1 billion to EUR 85.4 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 81.2 billion to EUR 565.5 billion.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with EUR 4.1 billion on 1 January), while recourse to the deposit facility (liability item 2.2) was EUR 281.7 billion (compared with EUR 203.6 billion on 1 January).
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 80.3 billion to EUR 213.3 billion.
Consolidated financial statement of the Eurosystem as at 2 January 2009 (compared with the opening financial statement of the Eurosystem as at 1 January 2009)
| 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 | 218,415 | −6 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 162,054 | 600 | |
| 2.1 | Receivables from the IMF | 13,212 | 0 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 148,842 | 600 | |
| 3 | Claims on euro area residents denominated in foreign currency | 225,808 | −8,243 | |
| 4 | Claims on non-euro area residents denominated in euro | 19,707 | 54 | |
| 4.1 | Balances with banks, security investments and loans | 19,707 | 54 | |
| 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 | 857,510 | −3,100 | |
| 5.1 | Main refinancing operations | 239,592 | 27 | |
| 5.2 | Longer-term refinancing operations | 616,924 | 2 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 942 | −3,114 | |
| 5.6 | Credits related to margin calls | 52 | −14 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 58,084 | −35 | |
| 7 | Securities of euro area residents denominated in euro | 282,693 | 497 | |
| 8 | General government debt denominated in euro | 37,469 | 0 | |
| 9 | Other assets | 227,138 | 1,273 | |
| Total assets | 2,088,878 | −8,961 | ||
| 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 | 763,682 | −2,549 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 504,306 | −2,270 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 213,283 | −80,340 | |
| 2.2 | Deposit facility | 281,670 | 78,069 | |
| 2.3 | Fixed-term deposits | 0 | 0 | |
| 2.4 | Fine-tuning reverse operations | 9,240 | 0 | |
| 2.5 | Deposits related to margin calls | 114 | 1 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 340 | 0 | |
| 4 | Debt certificates issued | 1,003 | 0 | |
| 5 | Liabilities to other euro area residents denominated in euro | 93,805 | 2,433 | |
| 5.1 | General government | 85,350 | 2,080 | |
| 5.2 | Other liabilities | 8,455 | 353 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 286,768 | −6,887 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 4,463 | −1,337 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 11,283 | 769 | |
| 8.1 | Deposits, balances and other liabilities | 11,283 | 769 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 5,446 | 0 | |
| 10 | Other liabilities | 169,155 | 839 | |
| 11 | Revaluation accounts | 176,589 | 0 | |
| 12 | Capital and reserves | 72,039 | 40 | |
| Total liabilities | 2,088,878 | −8,961 | ||
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