Consolidated financial statement of the Eurosystem as at 3 June 2005

7 June 2005

Items not related to monetary policy operations

In the week ending 3 June 2005, the decrease of EUR 141 million in gold and gold receivables (asset item 1) reflected the selling of gold by three 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) remained virtually unchanged at EUR 159.5 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.2 billion to EUR 83.2 billion. Banknotes in circulation (liability item 1) rose by EUR 5.2 billion to EUR 517.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 4.8 billion to EUR 59.2 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) increased by EUR 10.7 billion to EUR 371.9 billion. On Wednesday, 1 June 2005, a main refinancing operation of EUR 271 billion matured and a new one of EUR 281.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.5 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion, which was approximately the same as 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 1.7 billion to EUR 145.9 billion.

Assets (EUR millions) Balance Difference compared to last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 127,116 −141
2 Claims on non-euro area residents denominated in foreign currency 155,559 476
2.1 Receivables from the IMF 22,309 −4
2.2 Balances with banks and security investments, external loans and other external assets 133,250 480
3 Claims on euro area residents denominated in foreign currency 20,147 −65
4 Claims on non-euro area residents denominated in euro 9,385 396
4.1 Balances with banks, security investments and loans 9,385 396
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 371,994 10,791
5.1 Main refinancing operations 281,501 10,500
5.2 Longer-term refinancing operations 90,002 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 469 273
5.6 Credits related to margin calls 22 18
6 Other claims on euro area credit institutions denominated in euro 2,532 −242
7 Securities of euro area residents denominated in euro 83,191 245
8 General government debt denominated in euro 41,181 0
9 Other assets 129,045 909
Total assets 940,150 12,369
Liabilities (EUR millions) Balance Difference compared to last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 517,069 5,158
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 146,003 1,695
2.1 Current accounts (covering the minimum reserve system) 145,890 1,652
2.2 Deposit facility 113 44
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −1
3 Other liabilities to euro area credit institutions denominated in euro 141 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 66,077 5,119
5.1 General government 59,190 4,847
5.2 Other liabilities 6,887 272
6 Liabilities to non-euro area residents denominated in euro 10,192 −196
7 Liabilities to euro area residents denominated in foreign currency 215 −18
8 Liabilities to non-euro area residents denominated in foreign currency 10,268 427
8.1 Deposits, balances and other liabilities 10,268 427
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,701 0
10 Other liabilities 54,197 184
11 Revaluation accounts 71,961 0
12 Capital and reserves 58,326 0
Total liabilities 940,150 12,369

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