Consolidated financial statement of the Eurosystem as at 19 October 2007

23 October 2007

Items not related to monetary policy operations

In the week ending 19 October 2007, the decrease of EUR 126 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) decreased by EUR 0.2 billion to EUR 141.8 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) decreased by EUR 0.8 billion to EUR 95.8 billion. Banknotes in circulation (liability item 1) fell by EUR 1.9 billion to EUR 638.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.8 billion to EUR 54.4 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 17.4 billion to EUR 435.3 billion. On Wednesday, 17 October 2007, a main refinancing operation of EUR 218 billion matured and a new one of EUR 171 billion was settled. On Wednesday, 17 October 2007, a liquidity-absorbing fine-tuning operation in the form of a collection of fixed-term deposits of EUR 30 billion matured.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.7 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) decreased by EUR 8.8 billion to EUR 192.8 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 185,849 −126
2 Claims on non-euro area residents denominated in foreign currency 146,648 3,245
2.1 Receivables from the IMF 9,302 −56
2.2 Balances with banks and security investments, external loans and other external assets 137,346 3,301
3 Claims on euro area residents denominated in foreign currency 20,538 −2,814
4 Claims on non-euro area residents denominated in euro 17,020 829
4.1 Balances with banks, security investments and loans 17,020 829
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 436,005 −47,001
5.1 Main refinancing operations 171,000 −47,001
5.2 Longer-term refinancing operations 265,004 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 0
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 15,155 62
7 Securities of euro area residents denominated in euro 95,791 −849
8 General government debt denominated in euro 37,122 0
9 Other assets 295,199 6,863
Total assets 1,249,327 −39,791
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 638,698 −1,912
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 193,512 −38,445
2.1 Current accounts (covering the minimum reserve system) 192,790 −8,836
2.2 Deposit facility 708 392
2.3 Fixed-term deposits 0 −30,001
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 14 0
3 Other liabilities to euro area credit institutions denominated in euro 141 2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 61,634 −2,881
5.1 General government 54,379 −2,763
5.2 Other liabilities 7,255 −118
6 Liabilities to non-euro area residents denominated in euro 25,153 125
7 Liabilities to euro area residents denominated in foreign currency 336 43
8 Liabilities to non-euro area residents denominated in foreign currency 19,667 569
8.1 Deposits, balances and other liabilities 19,667 569
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,398 0
10 Other liabilities 104,833 2,707
11 Revaluation accounts 131,060 0
12 Capital and reserves 68,895 1
Total liabilities 1,249,327 −39,791

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