Consolidated financial statement of the Eurosystem as at 15 July 2005

19 July 2005

Items not related to monetary policy operations

In the week ending 15 July 2005, the decrease of EUR 77 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 168.2 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 1.8 billion to EUR 85.6 billion. Banknotes in circulation (liability item 1) increased by EUR 1.1 billion to EUR 531.4 billion. Liabilities to general government (liability item 5.1) fell by EUR 12.1 billion to EUR 58.6 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 8.8 billion to EUR 388.5 billion. On Wednesday, 13 July 2005, a main refinancing operation of EUR 307.5 billion matured and a new one of EUR 298.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was also virtually nil (compared with EUR 0.2 billion 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 1.7 billion to EUR 149.6 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 138,298 −77
2 Claims on non-euro area residents denominated in foreign currency 161,554 −919
2.1 Receivables from the IMF 21,960 −191
2.2 Balances with banks and security investments, external loans and other external assets 139,594 −728
3 Claims on euro area residents denominated in foreign currency 21,591 673
4 Claims on non-euro area residents denominated in euro 9,554 747
4.1 Balances with banks, security investments and loans 9,554 747
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 388,514 −8,995
5.1 Main refinancing operations 298,501 −8,999
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 0
5.6 Credits related to margin calls 10 4
6 Other claims on euro area credit institutions denominated in euro 3,153 233
7 Securities of euro area residents denominated in euro 85,583 −1,827
8 General government debt denominated in euro 40,747 0
9 Other assets 130,459 887
Total assets 979,453 −9,278
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 531,441 1,145
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 149,684 1,560
2.1 Current accounts (covering the minimum reserve system) 149,646 1,745
2.2 Deposit facility 21 −202
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 17 17
3 Other liabilities to euro area credit institutions denominated in euro 247 −26
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 65,563 −12,219
5.1 General government 58,598 −12,141
5.2 Other liabilities 6,965 −78
6 Liabilities to non-euro area residents denominated in euro 9,980 50
7 Liabilities to euro area residents denominated in foreign currency 362 20
8 Liabilities to non-euro area residents denominated in foreign currency 8,653 −226
8.1 Deposits, balances and other liabilities 8,653 −226
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 57,045 418
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,290 0
Total liabilities 979,453 −9,278

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