Consolidated financial statement of the Eurosystem as at 23 March 2007

27 March 2007

Items not related to monetary policy operations

In the week ending 23 March 2007, the decrease of EUR 189 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 145.6 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) rose by EUR 0.4 billion to EUR 88.1 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 608.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 16.2 billion to EUR 53.4 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) rose by EUR 10.5 billion to EUR 421.6 billion. On Wednesday, 21 March 2007, a main refinancing operation of EUR 271.5 billion matured and a new one of EUR 282 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 3.4 billion to EUR 178.4 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 175,996 −189
2 Claims on non-euro area residents denominated in foreign currency 141,721 1,477
2.1 Receivables from the IMF 9,859 −35
2.2 Balances with banks and security investments, external loans and other external assets 131,862 1,512
3 Claims on euro area residents denominated in foreign currency 22,904 162
4 Claims on non-euro area residents denominated in euro 15,945 450
4.1 Balances with banks, security investments and loans 15,945 450
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 421,999 10,496
5.1 Main refinancing operations 281,999 10,498
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 0 −1
5.6 Credits related to margin calls 0 −1
6 Other claims on euro area credit institutions denominated in euro 14,376 894
7 Securities of euro area residents denominated in euro 88,095 432
8 General government debt denominated in euro 39,317 0
9 Other assets 222,303 −1,063
Total assets 1,142,656 12,659
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 608,308 −884
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 178,813 −3,412
2.1 Current accounts (covering the minimum reserve system) 178,447 −3,422
2.2 Deposit facility 47 14
2.3 Fixed-term deposits 318 −5
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 1
3 Other liabilities to euro area credit institutions denominated in euro 114 3
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 62,004 16,303
5.1 General government 53,435 16,239
5.2 Other liabilities 8,569 64
6 Liabilities to non-euro area residents denominated in euro 18,349 204
7 Liabilities to euro area residents denominated in foreign currency 157 1
8 Liabilities to non-euro area residents denominated in foreign currency 13,233 1,334
8.1 Deposits, balances and other liabilities 13,233 1,334
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 66,920 −801
11 Revaluation accounts 121,990 0
12 Capital and reserves 67,157 −89
Total liabilities 1,142,656 12,659

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