Consolidated financial statement of the Eurosystem as at 29 July 2005

2 August 2005

Items not related to monetary policy operations

In the week ending 29 July 2005, the decrease of EUR 45 million in gold and gold receivables (asset item 1) reflected the selling of gold by one Eurosystem central bank (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 167 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 0.2 billion to EUR 85.7 billion. Banknotes in circulation (liability item 1) increased by EUR 3.6 billion to EUR 533.8 billion. Liabilities to general government (liability item 5.1) rose by EUR 9.7 billion to EUR 77.9 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 8.3 billion to EUR 406.8 billion. On Wednesday, 27 July 2005, a main refinancing operation of EUR 308.5 billion matured and a new one of EUR 317 billion was settled. On Thursday, 28 July 2005, a longer-term refinancing operation of EUR 30 billion matured and a new one of EUR 30 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at close to zero, while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with virtually nil 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) decreased by EUR 5.8 billion to EUR 145 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 138,078 −45
2 Claims on non-euro area residents denominated in foreign currency 159,586 −1,390
2.1 Receivables from the IMF 20,496 −7
2.2 Balances with banks and security investments, external loans and other external assets 139,090 −1,383
3 Claims on euro area residents denominated in foreign currency 21,510 352
4 Claims on non-euro area residents denominated in euro 9,643 −762
4.1 Balances with banks, security investments and loans 9,643 −762
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 407,007 8,494
5.1 Main refinancing operations 317,001 8,499
5.2 Longer-term refinancing operations 89,998 −2
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 7 5
5.6 Credits related to margin calls 1 −8
6 Other claims on euro area credit institutions denominated in euro 3,268 −168
7 Securities of euro area residents denominated in euro 85,656 −222
8 General government debt denominated in euro 40,752 5
9 Other assets 131,296 871
Total assets 996,796 7,135
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 533,793 3,558
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 145,185 −5,628
2.1 Current accounts (covering the minimum reserve system) 144,954 −5,842
2.2 Deposit facility 230 213
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 1
3 Other liabilities to euro area credit institutions denominated in euro 129 −145
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 84,884 9,698
5.1 General government 77,945 9,670
5.2 Other liabilities 6,939 28
6 Liabilities to non-euro area residents denominated in euro 10,141 149
7 Liabilities to euro area residents denominated in foreign currency 232 −7
8 Liabilities to non-euro area residents denominated in foreign currency 8,009 −999
8.1 Deposits, balances and other liabilities 8,009 −999
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 57,944 508
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,291 1
Total liabilities 996,796 7,135

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