Consolidated financial statement of the Eurosystem as at 6 July 2007

10 July 2007

Items not related to monetary policy operations

In the week ending 6 July 2007, the decrease of EUR 44 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) decreased by EUR 0.1 billion to EUR 144.2 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 0.2 billion to EUR 93.9 billion. Banknotes in circulation (liability item 1) rose by EUR 5.1 billion to EUR 638.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 20.3 billion to EUR 49.4 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) fell by EUR 16.4 billion to EUR 447.1 billion. On Wednesday, 4 July 2007, a main refinancing operation of EUR 313.5 billion matured and a new one of EUR 298 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 1.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 1.1 billion, 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) increased by EUR 8.5 billion to EUR 190.5 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 172,712 −44
2 Claims on non-euro area residents denominated in foreign currency 144,357 2,710
2.1 Receivables from the IMF 9,836 −43
2.2 Balances with banks and security investments, external loans and other external assets 134,521 2,753
3 Claims on euro area residents denominated in foreign currency 22,760 −1,673
4 Claims on non-euro area residents denominated in euro 16,535 −178
4.1 Balances with banks, security investments and loans 16,535 −178
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 448,171 −16,437
5.1 Main refinancing operations 297,999 −15,500
5.2 Longer-term refinancing operations 150,002 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 4 −1,100
5.6 Credits related to margin calls 166 163
6 Other claims on euro area credit institutions denominated in euro 13,567 −192
7 Securities of euro area residents denominated in euro 93,931 227
8 General government debt denominated in euro 37,149 2
9 Other assets 242,575 −1,111
Total assets 1,191,757 −16,696
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 638,219 5,143
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 191,614 8,428
2.1 Current accounts (covering the minimum reserve system) 190,548 8,462
2.2 Deposit facility 1,064 −36
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 2 2
3 Other liabilities to euro area credit institutions denominated in euro 213 −13
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 56,892 −20,989
5.1 General government 49,380 −20,321
5.2 Other liabilities 7,512 −668
6 Liabilities to non-euro area residents denominated in euro 19,472 −8,644
7 Liabilities to euro area residents denominated in foreign currency 182 4
8 Liabilities to non-euro area residents denominated in foreign currency 17,172 1,113
8.1 Deposits, balances and other liabilities 17,172 1,113
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,517 0
10 Other liabilities 77,154 −1,739
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,312 1
Total liabilities 1,191,757 −16,696

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