Consolidated financial statement of the Eurosystem as at 7 December 2007

11 December 2007

Items not related to monetary policy operations

In the week ending 7 December 2007, the decrease of EUR 22 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) decreased by EUR 0.1 billion to EUR 142.2 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) increased by EUR 1.3 billion to EUR 97.2 billion. Banknotes in circulation (liability item 1) rose by EUR 9.7 billion to EUR 655.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 8.6 billion to EUR 76.2 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 22.5 billion to EUR 440.3 billion. On Wednesday, 5 December 2007, a main refinancing operation of EUR 178 billion matured and a new one of EUR 163 billion was settled. On Friday, 7 December 2007, a liquidity-absorbing fine-tuning operation in the form of a collection of fixed-term deposits of EUR 8 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.8 billion (compared with EUR 0.1 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.6 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) decreased by EUR 38.6 billion to EUR 164.9 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 185,335 −22
2 Claims on non-euro area residents denominated in foreign currency 144,821 2,657
2.1 Receivables from the IMF 9,245 0
2.2 Balances with banks and security investments, external loans and other external assets 135,576 2,657
3 Claims on euro area residents denominated in foreign currency 22,637 −2,530
4 Claims on non-euro area residents denominated in euro 14,995 491
4.1 Balances with banks, security investments and loans 14,995 491
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 448,822 −14,246
5.1 Main refinancing operations 163,000 −15,001
5.2 Longer-term refinancing operations 285,004 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 815 755
5.6 Credits related to margin calls 3 0
6 Other claims on euro area credit institutions denominated in euro 22,536 1,564
7 Securities of euro area residents denominated in euro 97,174 1,309
8 General government debt denominated in euro 37,104 1
9 Other assets 319,602 6,536
Total assets 1,293,026 −4,240
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 655,376 9,679
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 173,490 −30,304
2.1 Current accounts (covering the minimum reserve system) 164,933 −38,589
2.2 Deposit facility 551 284
2.3 Fixed-term deposits 7,999 7,999
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 7 2
3 Other liabilities to euro area credit institutions denominated in euro 165 28
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 83,916 8,820
5.1 General government 76,174 8,645
5.2 Other liabilities 7,742 175
6 Liabilities to non-euro area residents denominated in euro 30,851 2,103
7 Liabilities to euro area residents denominated in foreign currency 465 225
8 Liabilities to non-euro area residents denominated in foreign currency 19,421 −22
8.1 Deposits, balances and other liabilities 19,421 −22
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 123,968 5,224
11 Revaluation accounts 131,060 0
12 Capital and reserves 68,916 7
Total liabilities 1,293,026 −4,240

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