Consolidated financial statement of the Eurosystem as at 16 November 2007

20 November 2007

Items not related to monetary policy operations

In the week ending 16 November 2007, the decrease of EUR 53 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) and a net purchase of gold coin by another Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 142.1 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 1.4 billion to EUR 95.1 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.5 billion to EUR 640.6 billion. Liabilities to general government (liability item 5.1) fell by EUR 0.4 billion to EUR 45.4 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 23 billion to EUR 447.7 billion. On Wednesday, 14 November 2007, a main refinancing operation of EUR 160 billion matured and a new one of EUR 182 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.9 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with EUR 0.3 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 24.3 billion to EUR 215.1 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 185,420 −53
2 Claims on non-euro area residents denominated in foreign currency 141,545 −1,461
2.1 Receivables from the IMF 9,251 −25
2.2 Balances with banks and security investments, external loans and other external assets 132,294 −1,436
3 Claims on euro area residents denominated in foreign currency 23,165 −189
4 Claims on non-euro area residents denominated in euro 15,685 −2,044
4.1 Balances with banks, security investments and loans 15,685 −2,044
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 447,883 22,873
5.1 Main refinancing operations 182,002 21,999
5.2 Longer-term refinancing operations 265,005 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 874 873
5.6 Credits related to margin calls 2 1
6 Other claims on euro area credit institutions denominated in euro 20,106 2,285
7 Securities of euro area residents denominated in euro 95,050 −1,441
8 General government debt denominated in euro 37,110 0
9 Other assets 305,797 3,319
Total assets 1,271,761 23,289
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 640,622 −1,501
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 215,273 24,185
2.1 Current accounts (covering the minimum reserve system) 215,070 24,264
2.2 Deposit facility 192 −78
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 11 −1
3 Other liabilities to euro area credit institutions denominated in euro 170 2
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 53,351 −64
5.1 General government 45,437 −432
5.2 Other liabilities 7,914 368
6 Liabilities to non-euro area residents denominated in euro 27,257 460
7 Liabilities to euro area residents denominated in foreign currency 901 719
8 Liabilities to non-euro area residents denominated in foreign currency 16,358 −2,437
8.1 Deposits, balances and other liabilities 16,358 −2,437
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 112,468 1,923
11 Revaluation accounts 131,060 0
12 Capital and reserves 68,903 2
Total liabilities 1,271,761 23,289

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