Consolidated financial statement of the Eurosystem as at 2 February 2007

Items not related to monetary policy operations

In the week ending 2 February 2007, the decrease of EUR 39 million in gold and gold receivables (asset item 1) reflected sales of gold by one Eurosystem central bank (consistent with the Central Bank Gold Agreement of 27 September 2004) and a net purchase of gold coin by another Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.1 billion to EUR 145.3 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) increased by EUR 0.1 billion to EUR 82.2 billion. Banknotes in circulation (liability item 1) rose by EUR 3.1 billion to EUR 605.8 billion. Liabilities to general government (liability item 5.1) decreased by EUR 20.5 billion to EUR 39.4 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) fell by EUR 14.5 billion to EUR 421.2 billion. On Wednesday, 31 January 2007, a main refinancing operation of EUR 317.5 billion matured and a new one of EUR 292.5 billion was settled. On Thursday, 1 February 2007, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 50 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 4.7 billion to EUR 180.8 billion.