Consolidated financial statement of the Eurosystem as at 27 July 2007

31 July 2007

Items not related to monetary policy operations

In the week ending 27 July 2007, the decrease of EUR 195 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) decreased by EUR 0.1 billion to EUR 144.4 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 0.9 billion to EUR 94.2 billion. Banknotes in circulation (liability item 1) rose by EUR 0.7 billion to EUR 639 billion. Liabilities to general government (liability item 5.1) increased by EUR 7.4 billion to EUR 63.6 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 12.3 billion to EUR 464.1 billion. On Wednesday, 25 July 2007, a main refinancing operation of EUR 301.5 billion matured and a new one of EUR 315.5 billion was settled. On Thursday, 26 July 2007, a longer-term refinancing operation of EUR 50 billion matured and a new one of EUR 50 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.3 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 1.6 billion (compared with EUR 0.1 billion 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 5.1 billion to EUR 195.2 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 172,141 −195
2 Claims on non-euro area residents denominated in foreign currency 143,246 −323
2.1 Receivables from the IMF 9,733 −18
2.2 Balances with banks and security investments, external loans and other external assets 133,513 −305
3 Claims on euro area residents denominated in foreign currency 24,268 742
4 Claims on non-euro area residents denominated in euro 16,207 −85
4.1 Balances with banks, security investments and loans 16,207 −85
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 465,667 13,848
5.1 Main refinancing operations 315,501 14,002
5.2 Longer-term refinancing operations 150,003 1
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 155 −163
5.6 Credits related to margin calls 8 8
6 Other claims on euro area credit institutions denominated in euro 14,018 42
7 Securities of euro area residents denominated in euro 94,246 933
8 General government debt denominated in euro 37,148 −1
9 Other assets 245,643 1,204
Total assets 1,212,584 16,165
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 638,962 732
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 196,804 6,606
2.1 Current accounts (covering the minimum reserve system) 195,209 5,090
2.2 Deposit facility 1,595 1,516
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 216 −2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 71,036 7,264
5.1 General government 63,579 7,443
5.2 Other liabilities 7,457 −179
6 Liabilities to non-euro area residents denominated in euro 18,698 −128
7 Liabilities to euro area residents denominated in foreign currency 323 167
8 Liabilities to non-euro area residents denominated in foreign currency 17,299 327
8.1 Deposits, balances and other liabilities 17,299 327
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 78,406 1,199
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,313 0
Total liabilities 1,212,584 16,165

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