Consolidated financial statement of the Eurosystem as at 24 June 2005

28 June 2005

Items not related to monetary policy operations

In the week ending 24 June 2005, the decrease of EUR 108 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) increased by EUR 0.1 billion to EUR 158.6 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 0.8 billion to EUR 84.2 billion. Banknotes in circulation (liability item 1) rose by EUR 0.7 billion to EUR 520.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 28 billion to EUR 83.8 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 26.5 billion to EUR 400.1 billion. On Wednesday, 22 June 2005, a main refinancing operation of EUR 283.5 billion matured and a new one of EUR 310 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the preceding week), and recourse to the deposit facility (liability item 2.2) was also virtually nil, 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) decreased by EUR 0.9 billion to EUR 146.6 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 126,717 −108
2 Claims on non-euro area residents denominated in foreign currency 152,950 599
2.1 Receivables from the IMF 21,339 −5
2.2 Balances with banks and security investments, external loans and other external assets 131,611 604
3 Claims on euro area residents denominated in foreign currency 20,302 −611
4 Claims on non-euro area residents denominated in euro 9,028 −292
4.1 Balances with banks, security investments and loans 9,028 −292
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 400,069 26,488
5.1 Main refinancing operations 309,999 26,498
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 7 −70
5.6 Credits related to margin calls 61 60
6 Other claims on euro area credit institutions denominated in euro 3,124 217
7 Securities of euro area residents denominated in euro 84,230 782
8 General government debt denominated in euro 41,198 0
9 Other assets 130,250 −46
Total assets 967,868 27,029
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 520,389 727
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 146,626 −882
2.1 Current accounts (covering the minimum reserve system) 146,608 −859
2.2 Deposit facility 18 5
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −28
3 Other liabilities to euro area credit institutions denominated in euro 142 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 90,781 27,850
5.1 General government 83,838 28,006
5.2 Other liabilities 6,943 −156
6 Liabilities to non-euro area residents denominated in euro 9,880 −170
7 Liabilities to euro area residents denominated in foreign currency 416 84
8 Liabilities to non-euro area residents denominated in foreign currency 8,534 −227
8.1 Deposits, balances and other liabilities 8,534 −227
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 55,149 −354
11 Revaluation accounts 71,961 0
12 Capital and reserves 58,289 0
Total liabilities 967,868 27,029

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