Consolidated financial statement of the Eurosystem as at 17 August 2007

21 August 2007

Items not related to monetary policy operations

In the week ending 17 August 2007, the decrease of EUR 26 million in gold and gold receivables (asset item 1) reflected the sale 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 0.4 billion to EUR 145.2 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) decreased by EUR 2.6 billion to EUR 91.6 billion. Banknotes in circulation (liability item 1) fell by EUR 2.2 billion to EUR 641.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 4.4 billion to EUR 41.1 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) decreased by EUR 43.7 billion to EUR 459.8 billion. On Wednesday, 15 August 2007, a main refinancing operation of EUR 292.5 billion matured and a new one of EUR 310 billion was settled. On Monday, 13 August 2007, a fine-tuning operation of EUR 61.1 billion matured.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.3 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) decreased by EUR 46.4 billion to EUR 210.3 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 172,041 −26
2 Claims on non-euro area residents denominated in foreign currency 144,501 −661
2.1 Receivables from the IMF 9,687 −28
2.2 Balances with banks and security investments, external loans and other external assets 134,814 −633
3 Claims on euro area residents denominated in foreign currency 24,541 882
4 Claims on non-euro area residents denominated in euro 17,438 250
4.1 Balances with banks, security investments and loans 17,438 250
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 460,010 −43,543
5.1 Main refinancing operations 310,001 17,501
5.2 Longer-term refinancing operations 150,003 0
5.3 Fine-tuning reverse operations 0 −61,050
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 0
5.6 Credits related to margin calls 6 6
6 Other claims on euro area credit institutions denominated in euro 12,804 −201
7 Securities of euro area residents denominated in euro 91,606 −2,562
8 General government debt denominated in euro 37,148 0
9 Other assets 247,614 466
Total assets 1,207,703 −45,395
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 641,910 −2,180
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 210,527 −46,242
2.1 Current accounts (covering the minimum reserve system) 210,273 −46,402
2.2 Deposit facility 254 160
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 189 2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 48,737 4,330
5.1 General government 41,090 4,449
5.2 Other liabilities 7,647 −119
6 Liabilities to non-euro area residents denominated in euro 19,107 23
7 Liabilities to euro area residents denominated in foreign currency 133 −1
8 Liabilities to non-euro area residents denominated in foreign currency 18,232 −180
8.1 Deposits, balances and other liabilities 18,232 −180
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 77,524 −1,650
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,817 503
Total liabilities 1,207,703 −45,395

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