Consolidated financial statement of the Eurosystem as at 7 September 2007

11 September 2007

Items not related to monetary policy operations

In the week ending 7 September 2007, the decrease of EUR 60 million in gold and gold receivables (asset item 1) reflected sales of gold by two Eurosystem central banks (consistent with the Central Bank Gold Agreement of 27 September 2004).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 145.6 billion on account of customer and portfolio transactions.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) rose by EUR 1.6 billion to EUR 94.9 billion. Banknotes in circulation (liability item 1) increased by EUR 2 billion to EUR 639.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.2 billion to EUR 60.1 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) rose by EUR 45.5 billion to EUR 445.3 billion. On Wednesday, 5 September 2007, a main refinancing operation of EUR 210 billion matured and a new one of EUR 256 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 1 billion (compared with EUR 0.3 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 49.3 billion to EUR 181.5 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 171,940 −60
2 Claims on non-euro area residents denominated in foreign currency 144,749 587
2.1 Receivables from the IMF 9,691 1
2.2 Balances with banks and security investments, external loans and other external assets 135,058 586
3 Claims on euro area residents denominated in foreign currency 25,156 −1,229
4 Claims on non-euro area residents denominated in euro 15,891 −1,567
4.1 Balances with banks, security investments and loans 15,891 −1,567
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 446,286 46,170
5.1 Main refinancing operations 256,001 46,003
5.2 Longer-term refinancing operations 190,001 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 279 169
5.6 Credits related to margin calls 5 −2
6 Other claims on euro area credit institutions denominated in euro 11,099 −726
7 Securities of euro area residents denominated in euro 94,853 1,578
8 General government debt denominated in euro 37,145 0
9 Other assets 260,264 5,096
Total assets 1,207,383 49,849
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 639,169 1,982
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 182,577 49,963
2.1 Current accounts (covering the minimum reserve system) 181,548 49,252
2.2 Deposit facility 1,029 711
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 142 −47
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 68,059 −5,128
5.1 General government 60,137 −5,237
5.2 Other liabilities 7,922 109
6 Liabilities to non-euro area residents denominated in euro 20,927 68
7 Liabilities to euro area residents denominated in foreign currency 135 1
8 Liabilities to non-euro area residents denominated in foreign currency 18,647 −763
8.1 Deposits, balances and other liabilities 18,647 −763
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,517 0
10 Other liabilities 86,307 3,771
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,893 2
Total liabilities 1,207,383 49,849

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