Consolidated financial statement of the Eurosystem as at 16 March 2007

20 March 2007

Items not related to monetary policy operations

In the week ending 16 March 2007, the decrease of EUR 256 million in gold and gold receivables (asset item 1) reflected sales 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) increased by EUR 0.3 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 0.9 billion to EUR 87.7 billion. Banknotes in circulation (liability item 1) fell by EUR 0.6 billion to EUR 609.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 6.6 billion to EUR 37.2 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 8.3 billion to EUR 411.1 billion. On Wednesday, 14 March 2007, a main refinancing operation of EUR 280 billion matured and a new one of EUR 271.5 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 0.1 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 3.2 billion to EUR 181.9 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 176,185 −256
2 Claims on non-euro area residents denominated in foreign currency 140,244 −1,381
2.1 Receivables from the IMF 9,894 −88
2.2 Balances with banks and security investments, external loans and other external assets 130,350 −1,293
3 Claims on euro area residents denominated in foreign currency 22,742 602
4 Claims on non-euro area residents denominated in euro 15,495 11
4.1 Balances with banks, security investments and loans 15,495 11
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 411,503 −8,498
5.1 Main refinancing operations 271,501 −8,500
5.2 Longer-term refinancing operations 140,000 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1 1
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 13,482 −137
7 Securities of euro area residents denominated in euro 87,663 873
8 General government debt denominated in euro 39,317 0
9 Other assets 223,366 −1,043
Total assets 1,129,997 −9,829
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 609,192 −586
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 182,225 3,070
2.1 Current accounts (covering the minimum reserve system) 181,869 3,221
2.2 Deposit facility 33 −41
2.3 Fixed-term deposits 323 −110
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 111 2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 45,701 −6,622
5.1 General government 37,196 −6,593
5.2 Other liabilities 8,505 −29
6 Liabilities to non-euro area residents denominated in euro 18,145 −245
7 Liabilities to euro area residents denominated in foreign currency 156 −8
8 Liabilities to non-euro area residents denominated in foreign currency 11,899 −1,028
8.1 Deposits, balances and other liabilities 11,899 −1,028
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 67,721 −4,431
11 Revaluation accounts 121,990 0
12 Capital and reserves 67,246 19
Total liabilities 1,129,997 −9,829

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