Consolidated financial statement of the Eurosystem as at 20 July 2007

24 July 2007

Items not related to monetary policy operations

In the week ending 20 July 2007, the decrease of EUR 288 million in gold and gold receivables (asset item 1) reflected the 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) remained virtually unchanged at EUR 144.5 billion.

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 93.3 billion. Banknotes in circulation (liability item 1) fell by EUR 0.6 billion to EUR 638.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 13.6 billion to EUR 56.1 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 9.8 billion to EUR 451.7 billion. On Wednesday, 18 July 2007, a main refinancing operation of EUR 292 billion matured and a new one of EUR 301.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.3 billion (compared with virtually nil in the preceding week), and recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (approximately the same 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) decreased by EUR 2.9 billion to EUR 190.1 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 172,336 −288
2 Claims on non-euro area residents denominated in foreign currency 143,569 399
2.1 Receivables from the IMF 9,751 −18
2.2 Balances with banks and security investments, external loans and other external assets 133,818 417
3 Claims on euro area residents denominated in foreign currency 23,526 −366
4 Claims on non-euro area residents denominated in euro 16,292 410
4.1 Balances with banks, security investments and loans 16,292 410
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 451,819 9,817
5.1 Main refinancing operations 301,499 9,499
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 318 318
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 13,976 −201
7 Securities of euro area residents denominated in euro 93,313 196
8 General government debt denominated in euro 37,149 0
9 Other assets 244,439 1,088
Total assets 1,196,419 11,055
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 638,230 −605
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 190,198 −2,917
2.1 Current accounts (covering the minimum reserve system) 190,119 −2,918
2.2 Deposit facility 79 1
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 218 3
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 63,772 13,685
5.1 General government 56,136 13,631
5.2 Other liabilities 7,636 54
6 Liabilities to non-euro area residents denominated in euro 18,826 −78
7 Liabilities to euro area residents denominated in foreign currency 156 −25
8 Liabilities to non-euro area residents denominated in foreign currency 16,972 84
8.1 Deposits, balances and other liabilities 16,972 84
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 77,207 908
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,313 0
Total liabilities 1,196,419 11,055

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