Consolidated financial statement of the Eurosystem as at 18 May 2007

22 May 2007

Items not related to monetary policy operations

In the week ending 18 May 2007, the decrease of EUR 280 million in gold and gold receivables (asset item 1) reflected sales of gold by three 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 0.8 billion to EUR 146.3 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) remained virtually unchanged at EUR 93.4 billion. Banknotes in circulation (liability item 1) increased by EUR 1 billion to EUR 624.1 billion. Liabilities to general government (liability item 5.1) rose by EUR 1.2 billion to EUR 41.2 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 5 billion to EUR 431 billion. On Tuesday, 15 May 2007, a main refinancing operation of EUR 276 billion matured and a new one of EUR 281 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (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 3.7 billion to EUR 189.6 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 180,215 −280
2 Claims on non-euro area residents denominated in foreign currency 142,286 −135
2.1 Receivables from the IMF 9,660 93
2.2 Balances with banks and security investments, external loans and other external assets 132,626 −228
3 Claims on euro area residents denominated in foreign currency 24,569 −433
4 Claims on non-euro area residents denominated in euro 15,098 102
4.1 Balances with banks, security investments and loans 15,098 102
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 431,243 5,098
5.1 Main refinancing operations 281,000 4,999
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 244 99
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 13,782 −338
7 Securities of euro area residents denominated in euro 93,424 −30
8 General government debt denominated in euro 37,657 1
9 Other assets 230,719 763
Total assets 1,168,993 4,748
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 624,065 999
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 189,855 3,770
2.1 Current accounts (covering the minimum reserve system) 189,612 3,675
2.2 Deposit facility 238 90
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 5 5
3 Other liabilities to euro area credit institutions denominated in euro 139 9
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 49,854 552
5.1 General government 41,205 1,226
5.2 Other liabilities 8,649 −674
6 Liabilities to non-euro area residents denominated in euro 20,106 622
7 Liabilities to euro area residents denominated in foreign currency 159 −1
8 Liabilities to non-euro area residents denominated in foreign currency 14,789 −1,362
8.1 Deposits, balances and other liabilities 14,789 −1,362
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 70,598 159
11 Revaluation accounts 125,521 0
12 Capital and reserves 68,329 0
Total liabilities 1,168,993 4,748

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