Consolidated financial statement of the Eurosystem as at 19 August 2005

23 August 2005

Items not related to monetary policy operations

In the week ending 19 August 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) increased by EUR 0.2 billion to EUR 167.1 billion on account of customer and portfolio transactions.

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 86.3 billion. Banknotes in circulation (liability item 1) fell by EUR 4.3 billion to EUR 532.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 0.5 billion to EUR 61.4 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 5 billion to EUR 393 billion. On Wednesday, 17 August 2005, a main refinancing operation of EUR 308 billion matured and a new one of EUR 303 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 1.4 billion to EUR 149.5 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 137,829 −45
2 Claims on non-euro area residents denominated in foreign currency 159,890 608
2.1 Receivables from the IMF 20,228 0
2.2 Balances with banks and security investments, external loans and other external assets 139,662 608
3 Claims on euro area residents denominated in foreign currency 21,626 0
4 Claims on non-euro area residents denominated in euro 9,570 45
4.1 Balances with banks, security investments and loans 9,570 45
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 393,030 −4,974
5.1 Main refinancing operations 303,001 −4,999
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 4 −1
5.6 Credits related to margin calls 27 26
6 Other claims on euro area credit institutions denominated in euro 3,302 543
7 Securities of euro area residents denominated in euro 86,274 −206
8 General government debt denominated in euro 40,753 1
9 Other assets 131,832 377
Total assets 984,106 −3,651
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 532,474 −4,328
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 149,494 −1,358
2.1 Current accounts (covering the minimum reserve system) 149,480 −1,351
2.2 Deposit facility 14 −7
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
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 68,533 619
5.1 General government 61,430 460
5.2 Other liabilities 7,103 159
6 Liabilities to non-euro area residents denominated in euro 10,259 95
7 Liabilities to euro area residents denominated in foreign currency 380 32
8 Liabilities to non-euro area residents denominated in foreign currency 8,095 376
8.1 Deposits, balances and other liabilities 8,095 376
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 58,261 912
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,295 1
Total liabilities 984,106 −3,651

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