Consolidated financial statement of the Eurosystem as at 14 September 2007

18 September 2007

Items not related to monetary policy operations

In the week ending 14 September 2007, the decrease of EUR 38 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 0.6 billion to EUR 145 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 0.2 billion to EUR 94.7 billion. Banknotes in circulation (liability item 1) fell by EUR 1.7 billion to EUR 637.5 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.5 billion to EUR 56.6 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 87.1 billion to EUR 532.3 billion. On Wednesday, 12 September 2007, a main refinancing operation of EUR 256 billion matured and a new one of EUR 269 billion was settled. On Thursday, 13 September 2007, a supplementary longer-term refinancing operation of EUR 75 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.3 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 1.7 billion (compared with EUR 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 93 billion to EUR 274.6 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 171,902 −38
2 Claims on non-euro area residents denominated in foreign currency 145,388 639
2.1 Receivables from the IMF 9,691 0
2.2 Balances with banks and security investments, external loans and other external assets 135,697 639
3 Claims on euro area residents denominated in foreign currency 23,871 −1,285
4 Claims on non-euro area residents denominated in euro 16,255 364
4.1 Balances with banks, security investments and loans 16,255 364
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 534,036 87,750
5.1 Main refinancing operations 269,001 13,000
5.2 Longer-term refinancing operations 264,999 74,998
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 19 −260
5.6 Credits related to margin calls 17 12
6 Other claims on euro area credit institutions denominated in euro 11,346 247
7 Securities of euro area residents denominated in euro 94,678 −175
8 General government debt denominated in euro 37,148 3
9 Other assets 264,683 4,419
Total assets 1,299,307 91,924
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 637,460 −1,709
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 276,266 93,689
2.1 Current accounts (covering the minimum reserve system) 274,577 93,029
2.2 Deposit facility 1,677 648
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 12 12
3 Other liabilities to euro area credit institutions denominated in euro 143 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 64,333 −3,726
5.1 General government 56,595 −3,542
5.2 Other liabilities 7,738 −184
6 Liabilities to non-euro area residents denominated in euro 22,058 1,131
7 Liabilities to euro area residents denominated in foreign currency 572 437
8 Liabilities to non-euro area residents denominated in foreign currency 18,143 −504
8.1 Deposits, balances and other liabilities 18,143 −504
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 88,912 2,605
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,893 0
Total liabilities 1,299,307 91,924

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