Consolidated financial statement of the Eurosystem as at 23 February 2007

27 February 2007

Items not related to monetary policy operations

In the week ending 23 February 2007, the decrease of EUR 37 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 145.2 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 1 billion to EUR 85.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.7 billion to EUR 603.6 billion. Liabilities to general government (liability item 5.1) rose by EUR 21.8 billion to EUR 60.2 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 14.7 billion to EUR 430.2 billion. On Thursday, 22 February 2007, a main refinancing operation of EUR 286.5 billion matured and a new one of EUR 301.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.5 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 4.1 billion to EUR 177.8 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 176,484 −37
2 Claims on non-euro area residents denominated in foreign currency 143,291 −1,113
2.1 Receivables from the IMF 10,006 1
2.2 Balances with banks and security investments, external loans and other external assets 133,285 −1,114
3 Claims on euro area residents denominated in foreign currency 21,430 −560
4 Claims on non-euro area residents denominated in euro 14,104 −1,511
4.1 Balances with banks, security investments and loans 14,104 −1,511
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 431,514 15,014
5.1 Main refinancing operations 301,500 15,001
5.2 Longer-term refinancing operations 130,001 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 0
5.6 Credits related to margin calls 13 13
6 Other claims on euro area credit institutions denominated in euro 13,982 1,413
7 Securities of euro area residents denominated in euro 85,892 1,012
8 General government debt denominated in euro 39,311 0
9 Other assets 224,388 1,088
Total assets 1,150,396 15,306
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 603,630 −1,708
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 179,129 −3,787
2.1 Current accounts (covering the minimum reserve system) 177,803 −4,113
2.2 Deposit facility 494 471
2.3 Fixed-term deposits 832 −142
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −3
3 Other liabilities to euro area credit institutions denominated in euro 134 −3
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 68,642 21,768
5.1 General government 60,178 21,818
5.2 Other liabilities 8,464 −50
6 Liabilities to non-euro area residents denominated in euro 17,904 317
7 Liabilities to euro area residents denominated in foreign currency 290 130
8 Liabilities to non-euro area residents denominated in foreign currency 13,634 −1,660
8.1 Deposits, balances and other liabilities 13,634 −1,660
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,611 0
10 Other liabilities 72,346 230
11 Revaluation accounts 121,990 0
12 Capital and reserves 67,086 19
Total liabilities 1,150,396 15,306

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