Consolidated financial statement of the Eurosystem as at 17 June 2005

21 June 2005

Items not related to monetary policy operations

In the week ending 17 June 2005, the decrease of EUR 130 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 0.8 billion to EUR 158.5 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 0.5 billion to EUR 83.4 billion. Banknotes in circulation (liability item 1) increased by EUR 0.6 billion to EUR 519.7 billion. Liabilities to general government (liability item 5.1) rose by EUR 0.2 billion to EUR 55.8 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 4.5 billion to EUR 373.5 billion. On Wednesday, 15 June 2005, a main refinancing operation of EUR 279 billion matured and a new one of EUR 283.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was virtually nil (approximately the same as 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) increased by EUR 2.5 billion to EUR 147.5 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 126,825 −130
2 Claims on non-euro area residents denominated in foreign currency 152,351 −2,865
2.1 Receivables from the IMF 21,344 −833
2.2 Balances with banks and security investments, external loans and other external assets 131,007 −2,032
3 Claims on euro area residents denominated in foreign currency 20,913 551
4 Claims on non-euro area residents denominated in euro 9,320 325
4.1 Balances with banks, security investments and loans 9,320 325
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 373,581 4,533
5.1 Main refinancing operations 283,501 4,500
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 77 63
5.6 Credits related to margin calls 1 −30
6 Other claims on euro area credit institutions denominated in euro 2,907 366
7 Securities of euro area residents denominated in euro 83,448 −518
8 General government debt denominated in euro 41,198 16
9 Other assets 130,296 596
Total assets 940,839 2,874
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 519,662 578
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 147,508 2,568
2.1 Current accounts (covering the minimum reserve system) 147,467 2,541
2.2 Deposit facility 13 0
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 28 27
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 62,931 193
5.1 General government 55,832 164
5.2 Other liabilities 7,099 29
6 Liabilities to non-euro area residents denominated in euro 10,050 216
7 Liabilities to euro area residents denominated in foreign currency 332 94
8 Liabilities to non-euro area residents denominated in foreign currency 8,761 −1,606
8.1 Deposits, balances and other liabilities 8,761 −1,606
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 55,503 831
11 Revaluation accounts 71,961 0
12 Capital and reserves 58,289 0
Total liabilities 940,839 2,874

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