Consolidated financial statement of the Eurosystem as at 12 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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