Consolidated financial statement of the Eurosystem as at 11 May 2007

15 May 2007

Items not related to monetary policy operations

In the week ending 11 May 2007, the decrease of EUR 22 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) increased by EUR 0.1 billion to EUR 145.5 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.4 billion to EUR 93.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 623.1 billion. Liabilities to general government (liability item 5.1) fell by EUR 6.9 billion to EUR 40 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 3.7 billion to EUR 426 billion. On Wednesday, 9 May 2007, a main refinancing operation of EUR 279.5 billion matured and a new one of EUR 276 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (as 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 3.9 billion to EUR 185.9 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 180,495 −22
2 Claims on non-euro area residents denominated in foreign currency 142,421 1,009
2.1 Receivables from the IMF 9,567 −47
2.2 Balances with banks and security investments, external loans and other external assets 132,854 1,056
3 Claims on euro area residents denominated in foreign currency 25,002 −345
4 Claims on non-euro area residents denominated in euro 14,996 −90
4.1 Balances with banks, security investments and loans 14,996 −90
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 426,145 −3,562
5.1 Main refinancing operations 276,001 −3,498
5.2 Longer-term refinancing operations 149,999 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 145 −64
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 14,120 155
7 Securities of euro area residents denominated in euro 93,454 388
8 General government debt denominated in euro 37,656 −1,001
9 Other assets 229,956 2,358
Total assets 1,164,245 −1,110
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 623,066 −893
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 186,085 4,039
2.1 Current accounts (covering the minimum reserve system) 185,937 3,943
2.2 Deposit facility 148 96
2.3 Fixed-term deposits 0 0
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 130 5
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 49,302 −6,511
5.1 General government 39,979 −6,862
5.2 Other liabilities 9,323 351
6 Liabilities to non-euro area residents denominated in euro 19,484 −1
7 Liabilities to euro area residents denominated in foreign currency 160 −2
8 Liabilities to non-euro area residents denominated in foreign currency 16,151 541
8.1 Deposits, balances and other liabilities 16,151 541
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,578 0
10 Other liabilities 70,439 1,711
11 Revaluation accounts 125,521 0
12 Capital and reserves 68,329 1
Total liabilities 1,164,245 −1,110

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