Consolidated financial statement of the Eurosystem as at 12 August 2005

16 August 2005

Items not related to monetary policy operations

In the week ending 12 August 2005, the decrease of EUR 117 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 166.9 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.6 billion to EUR 86.5 billion. Banknotes in circulation (liability item 1) fell by EUR 0.7 billion to EUR 536.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.2 billion to EUR 61 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 6 billion to EUR 398 billion. On Wednesday, 10 August 2005, a main refinancing operation of EUR 314 billion matured and a new one of EUR 308 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) decreased by EUR 1.5 billion to EUR 150.8 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 137,874 −117
2 Claims on non-euro area residents denominated in foreign currency 159,282 −1,160
2.1 Receivables from the IMF 20,228 14
2.2 Balances with banks and security investments, external loans and other external assets 139,054 −1,174
3 Claims on euro area residents denominated in foreign currency 21,626 83
4 Claims on non-euro area residents denominated in euro 9,525 16
4.1 Balances with banks, security investments and loans 9,525 16
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 398,004 −5,997
5.1 Main refinancing operations 308,000 −5,999
5.2 Longer-term refinancing operations 89,998 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 5 2
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 2,759 −324
7 Securities of euro area residents denominated in euro 86,480 552
8 General government debt denominated in euro 40,752 0
9 Other assets 131,455 −161
Total assets 987,757 −7,108
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 536,802 −725
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 150,852 −1,535
2.1 Current accounts (covering the minimum reserve system) 150,831 −1,524
2.2 Deposit facility 21 −10
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 127 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 67,914 −3,278
5.1 General government 60,970 −3,212
5.2 Other liabilities 6,944 −66
6 Liabilities to non-euro area residents denominated in euro 10,164 −5
7 Liabilities to euro area residents denominated in foreign currency 348 78
8 Liabilities to non-euro area residents denominated in foreign currency 7,719 −1,180
8.1 Deposits, balances and other liabilities 7,719 −1,180
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 57,349 −464
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,294 1
Total liabilities 987,757 −7,108

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