Consolidated financial statement of the Eurosystem as at 21 September 2007

25 September 2007

Items not related to monetary policy operations

In the week ending 21 September 2007, the decrease of EUR 34 million in gold and gold receivables (asset item 1) reflected sales 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 0.5 billion to EUR 145.6 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 0.1 billion to EUR 94.5 billion. Banknotes in circulation (liability item 1) fell by EUR 2.5 billion to EUR 635 billion. Liabilities to general government (liability item 5.1) increased by EUR 12.1 billion to EUR 68.7 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 112.2 billion to EUR 420.2 billion. On Wednesday, 19 September 2007, a main refinancing operation of EUR 269 billion matured and a new one of EUR 155 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.6 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.4 billion (compared with EUR 1.7 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) decreased by EUR 119.9 billion to EUR 154.7 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 171,868 −34
2 Claims on non-euro area residents denominated in foreign currency 147,045 1,657
2.1 Receivables from the IMF 9,640 −51
2.2 Balances with banks and security investments, external loans and other external assets 137,405 1,708
3 Claims on euro area residents denominated in foreign currency 23,219 −652
4 Claims on non-euro area residents denominated in euro 14,750 −1,505
4.1 Balances with banks, security investments and loans 14,750 −1,505
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 420,612 −113,424
5.1 Main refinancing operations 155,001 −114,000
5.2 Longer-term refinancing operations 264,999 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 611 592
5.6 Credits related to margin calls 1 −16
6 Other claims on euro area credit institutions denominated in euro 12,805 1,459
7 Securities of euro area residents denominated in euro 94,537 −141
8 General government debt denominated in euro 37,148 0
9 Other assets 267,599 2,916
Total assets 1,189,583 −109,724
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 634,952 −2,508
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 155,114 −121,152
2.1 Current accounts (covering the minimum reserve system) 154,671 −119,906
2.2 Deposit facility 427 −1,250
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 16 4
3 Other liabilities to euro area credit institutions denominated in euro 139 −4
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 76,318 11,985
5.1 General government 68,670 12,075
5.2 Other liabilities 7,648 −90
6 Liabilities to non-euro area residents denominated in euro 21,786 −272
7 Liabilities to euro area residents denominated in foreign currency 646 74
8 Liabilities to non-euro area residents denominated in foreign currency 18,529 386
8.1 Deposits, balances and other liabilities 18,529 386
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 90,678 1,766
11 Revaluation accounts 117,010 0
12 Capital and reserves 68,894 1
Total liabilities 1,189,583 −109,724

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