Consolidated financial statement of the Eurosystem as at 12 October 2007

16 October 2007

Items not related to monetary policy operations

In the week ending 12 October 2007, the decrease of EUR 108 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 0.1 billion to EUR 142 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 0.6 billion to EUR 96.6 billion. Banknotes in circulation (liability item 1) fell by EUR 0.7 billion to EUR 640.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.2 billion to EUR 57.1 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 29.3 billion to EUR 452.7 billion. On Wednesday, 10 October 2007, a main refinancing operation of EUR 163 billion matured and a new one of EUR 218 billion was settled. On Friday, 12 October 2007, a liquidity-absorbing fine-tuning operation in the form of a collection of fixed-term deposits of EUR 30 billion was settled.

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 4.6 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 36.3 billion to EUR 201.6 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 185,975 −108
2 Claims on non-euro area residents denominated in foreign currency 143,403 1,489
2.1 Receivables from the IMF 9,358 3
2.2 Balances with banks and security investments, external loans and other external assets 134,045 1,486
3 Claims on euro area residents denominated in foreign currency 23,352 −1,658
4 Claims on non-euro area residents denominated in euro 16,191 837
4.1 Balances with banks, security investments and loans 16,191 837
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 483,006 55,001
5.1 Main refinancing operations 218,001 55,000
5.2 Longer-term refinancing operations 265,004 4
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −2
5.6 Credits related to margin calls 1 −1
6 Other claims on euro area credit institutions denominated in euro 15,093 1,146
7 Securities of euro area residents denominated in euro 96,640 −623
8 General government debt denominated in euro 37,122 0
9 Other assets 288,336 4,682
Total assets 1,289,118 60,766
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 640,610 −688
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 231,957 62,016
2.1 Current accounts (covering the minimum reserve system) 201,626 36,324
2.2 Deposit facility 316 −4,312
2.3 Fixed-term deposits 30,001 30,001
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 14 3
3 Other liabilities to euro area credit institutions denominated in euro 139 −2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 64,515 −3,335
5.1 General government 57,142 −3,194
5.2 Other liabilities 7,373 −141
6 Liabilities to non-euro area residents denominated in euro 25,028 1,085
7 Liabilities to euro area residents denominated in foreign currency 293 −42
8 Liabilities to non-euro area residents denominated in foreign currency 19,098 −34
8.1 Deposits, balances and other liabilities 19,098 −34
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,398 0
10 Other liabilities 102,126 1,766
11 Revaluation accounts 131,060 0
12 Capital and reserves 68,894 0
Total liabilities 1,289,118 60,766

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