Consolidated financial statement of the Eurosystem as at 8 July 2005

12 July 2005

Items not related to monetary policy operations

In the week ending 8 July 2005, the decrease of EUR 76 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) remained virtually unchanged at EUR 168.3 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 1.7 billion to EUR 87.4 billion. Banknotes in circulation (liability item 1) rose by EUR 4.3 billion to EUR 530.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 2.1 billion to EUR 70.7 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 0.9 billion to EUR 397.3 billion. On Wednesday, 6 July 2005, a main refinancing operation of EUR 308 billion matured and a new one of EUR 307.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with virtually nil 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 6.1 billion to EUR 147.9 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 138,375 −76
2 Claims on non-euro area residents denominated in foreign currency 162,473 −88
2.1 Receivables from the IMF 22,151 1
2.2 Balances with banks and security investments, external loans and other external assets 140,322 −89
3 Claims on euro area residents denominated in foreign currency 20,918 −125
4 Claims on non-euro area residents denominated in euro 8,807 −370
4.1 Balances with banks, security investments and loans 8,807 −370
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 397,509 −678
5.1 Main refinancing operations 307,500 −501
5.2 Longer-term refinancing operations 90,000 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 3 −181
5.6 Credits related to margin calls 6 4
6 Other claims on euro area credit institutions denominated in euro 2,920 −309
7 Securities of euro area residents denominated in euro 87,410 1,664
8 General government debt denominated in euro 40,747 16
9 Other assets 129,572 256
Total assets 988,731 290
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 530,296 4,314
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 148,124 −5,847
2.1 Current accounts (covering the minimum reserve system) 147,901 −6,057
2.2 Deposit facility 223 211
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 273 120
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 77,782 2,062
5.1 General government 70,739 2,102
5.2 Other liabilities 7,043 −40
6 Liabilities to non-euro area residents denominated in euro 9,930 189
7 Liabilities to euro area residents denominated in foreign currency 342 3
8 Liabilities to non-euro area residents denominated in foreign currency 8,879 −250
8.1 Deposits, balances and other liabilities 8,879 −250
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,896 0
10 Other liabilities 56,627 −302
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,290 1
Total liabilities 988,731 290

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