Consolidated financial statement of the Eurosystem as at 22 July 2005

26 July 2005

Items not related to monetary policy operations

In the week ending 22 July 2005, the decrease of EUR 175 million in gold and gold receivables (asset item 1) reflected the selling of gold by three 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 1.2 billion to EUR 167 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.3 billion to EUR 85.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.2 billion to EUR 530.2 billion. Liabilities to general government (liability item 5.1) rose by EUR 9.7 billion to EUR 68.3 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 10 billion to EUR 398.5 billion. On Wednesday, 20 July 2005, a main refinancing operation of EUR 298.5 billion matured and a new one of EUR 308.5 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, 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) increased by EUR 1.2 billion to EUR 150.8 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 138,123 −175
2 Claims on non-euro area residents denominated in foreign currency 160,976 −578
2.1 Receivables from the IMF 20,503 −1,457
2.2 Balances with banks and security investments, external loans and other external assets 140,473 879
3 Claims on euro area residents denominated in foreign currency 21,158 −433
4 Claims on non-euro area residents denominated in euro 10,405 851
4.1 Balances with banks, security investments and loans 10,405 851
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 398,513 9,999
5.1 Main refinancing operations 308,502 10,001
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 2 −1
5.6 Credits related to margin calls 9 −1
6 Other claims on euro area credit institutions denominated in euro 3,436 283
7 Securities of euro area residents denominated in euro 85,878 295
8 General government debt denominated in euro 40,747 0
9 Other assets 130,425 −34
Total assets 989,661 10,208
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 530,235 −1,206
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 150,813 1,129
2.1 Current accounts (covering the minimum reserve system) 150,796 1,150
2.2 Deposit facility 17 −4
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −17
3 Other liabilities to euro area credit institutions denominated in euro 274 27
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 75,186 9,623
5.1 General government 68,275 9,677
5.2 Other liabilities 6,911 −54
6 Liabilities to non-euro area residents denominated in euro 9,992 12
7 Liabilities to euro area residents denominated in foreign currency 239 −123
8 Liabilities to non-euro area residents denominated in foreign currency 9,008 355
8.1 Deposits, balances and other liabilities 9,008 355
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 57,436 391
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,290 0
Total liabilities 989,661 10,208

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