Consolidated financial statement of the Eurosystem as at 2 March 2007

6 March 2007

Items not related to monetary policy operations

In the week ending 2 March 2007, the decrease of EUR 34 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).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.2 billion to EUR 145 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 0.6 billion to EUR 86.5 billion. Banknotes in circulation (liability item 1) rose by EUR 4.8 billion to EUR 608.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 11 billion to EUR 49.2 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) decreased by EUR 1.7 billion to EUR 428.5 billion. On Wednesday, 28 February 2007, a main refinancing operation of EUR 301.5 billion matured and a new one of EUR 289 billion was settled. On Thursday, 1 March 2007, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 50 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was also virtually nil (compared with EUR 0.5 billion 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) increased by EUR 4.8 billion to EUR 182.6 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 176,450 −34
2 Claims on non-euro area residents denominated in foreign currency 142,494 −797
2.1 Receivables from the IMF 10,004 −2
2.2 Balances with banks and security investments, external loans and other external assets 132,490 −795
3 Claims on euro area residents denominated in foreign currency 22,162 732
4 Claims on non-euro area residents denominated in euro 15,613 1,509
4.1 Balances with banks, security investments and loans 15,613 1,509
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 429,008 −2,506
5.1 Main refinancing operations 288,999 −12,501
5.2 Longer-term refinancing operations 140,000 9,999
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 9 −4
6 Other claims on euro area credit institutions denominated in euro 12,822 −1,160
7 Securities of euro area residents denominated in euro 86,499 607
8 General government debt denominated in euro 39,317 6
9 Other assets 223,864 −524
Total assets 1,148,229 −2,167
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 608,477 4,847
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 183,132 4,003
2.1 Current accounts (covering the minimum reserve system) 182,613 4,810
2.2 Deposit facility 35 −459
2.3 Fixed-term deposits 484 −348
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 134 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 57,654 −10,988
5.1 General government 49,213 −10,965
5.2 Other liabilities 8,441 −23
6 Liabilities to non-euro area residents denominated in euro 18,096 192
7 Liabilities to euro area residents denominated in foreign currency 163 −127
8 Liabilities to non-euro area residents denominated in foreign currency 13,896 262
8.1 Deposits, balances and other liabilities 13,896 262
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 71,851 −495
11 Revaluation accounts 121,990 0
12 Capital and reserves 67,225 139
Total liabilities 1,148,229 −2,167

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