Consolidated financial statement of the Eurosystem as at 14 December 2007

18 December 2007

Items not related to monetary policy operations

In the week ending 14 December 2007, the decrease of EUR 32 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 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 0.1 billion to EUR 142.1 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) increased by EUR 1.2 billion to EUR 98.4 billion. Banknotes in circulation (liability item 1) rose by EUR 4.2 billion to EUR 659.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 27.4 billion to EUR 48.8 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) increased by EUR 48.1 billion to EUR 488.4 billion. On Wednesday, 12 December 2007, a main refinancing operation of EUR 163 billion matured and a new one of EUR 218.5 billion was settled. On the same day a supplementary longer-term refinancing operation of EUR 75 billion matured and a new one of EUR 60 billion was settled. On Wednesday, 12 December 2007, a liquidity-absorbing fine-tuning operation in the form of a collection of fixed-term deposits of EUR 8 billion matured.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.8 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with EUR 0.6 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 69.8 billion to EUR 234.8 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 185,303 −32
2 Claims on non-euro area residents denominated in foreign currency 142,707 −2,114
2.1 Receivables from the IMF 9,236 −9
2.2 Balances with banks and security investments, external loans and other external assets 133,471 −2,105
3 Claims on euro area residents denominated in foreign currency 25,100 2,463
4 Claims on non-euro area residents denominated in euro 13,960 −1,035
4.1 Balances with banks, security investments and loans 13,960 −1,035
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 488,669 39,847
5.1 Main refinancing operations 218,501 55,501
5.2 Longer-term refinancing operations 270,004 −15,000
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 163 −652
5.6 Credits related to margin calls 1 −2
6 Other claims on euro area credit institutions denominated in euro 23,417 881
7 Securities of euro area residents denominated in euro 98,351 1,177
8 General government debt denominated in euro 37,097 −7
9 Other assets 323,814 4,212
Total assets 1,338,418 45,392
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 659,561 4,185
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 235,017 61,527
2.1 Current accounts (covering the minimum reserve system) 234,762 69,829
2.2 Deposit facility 223 −328
2.3 Fixed-term deposits 0 −7,999
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 32 25
3 Other liabilities to euro area credit institutions denominated in euro 158 −7
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 58,045 −25,871
5.1 General government 48,757 −27,417
5.2 Other liabilities 9,288 1,546
6 Liabilities to non-euro area residents denominated in euro 31,378 527
7 Liabilities to euro area residents denominated in foreign currency 444 −21
8 Liabilities to non-euro area residents denominated in foreign currency 19,869 448
8.1 Deposits, balances and other liabilities 19,869 448
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 128,568 4,600
11 Revaluation accounts 131,060 0
12 Capital and reserves 68,920 4
Total liabilities 1,338,418 45,392

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