Consolidated financial statement of the Eurosystem as at 10 June 2005

14 June 2005

Items not related to monetary policy operations

In the week ending 10 June 2005, the decrease of EUR 161 million in gold and gold receivables (asset item 1) reflected the selling 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 0.3 billion to EUR 159.3 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.8 billion to EUR 84 billion. Banknotes in circulation (liability item 1) rose by EUR 2 billion to EUR 519.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.5 billion to EUR 55.7 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 2.8 billion to EUR 369 billion. On Wednesday, 8 June 2005, a main refinancing operation of EUR 281.5 billion matured and a new one of EUR 279 billion was settled.

Recourse to both the marginal lending facility (asset item 5.5) and the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.5 billion and EUR 0.1 billion respectively in the previous 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 1 billion to EUR 144.9 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 126,955 −161
2 Claims on non-euro area residents denominated in foreign currency 155,216 −343
2.1 Receivables from the IMF 22,177 −132
2.2 Balances with banks and security investments, external loans and other external assets 133,039 −211
3 Claims on euro area residents denominated in foreign currency 20,362 215
4 Claims on non-euro area residents denominated in euro 8,995 −390
4.1 Balances with banks, security investments and loans 8,995 −390
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 369,048 −2,946
5.1 Main refinancing operations 279,001 −2,500
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 14 −455
5.6 Credits related to margin calls 31 9
6 Other claims on euro area credit institutions denominated in euro 2,541 9
7 Securities of euro area residents denominated in euro 83,966 775
8 General government debt denominated in euro 41,182 1
9 Other assets 129,700 655
Total assets 937,965 −2,185
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 519,084 2,015
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 144,940 −1,063
2.1 Current accounts (covering the minimum reserve system) 144,926 −964
2.2 Deposit facility 13 −100
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 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 62,738 −3,339
5.1 General government 55,668 −3,522
5.2 Other liabilities 7,070 183
6 Liabilities to non-euro area residents denominated in euro 9,834 −358
7 Liabilities to euro area residents denominated in foreign currency 238 23
8 Liabilities to non-euro area residents denominated in foreign currency 10,367 99
8.1 Deposits, balances and other liabilities 10,367 99
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 54,672 475
11 Revaluation accounts 71,961 0
12 Capital and reserves 58,289 −37
Total liabilities 937,965 −2,185

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