Consolidated financial statement of the Eurosystem as at 2 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