Consolidated financial statement of the Eurosystem as at 11 January 2008

15 January 2008

Items not related to monetary policy operations

In the week ending 11 January 2008, the decrease of EUR 40 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 1 billion to EUR 154.2 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) decreased by EUR 0.9 billion to EUR 97.3 billion. Banknotes in circulation (liability item 1) fell by EUR 11.4 billion to EUR 659.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3 billion to EUR 47.1 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 22.5 billion to EUR 419.5 billion. On Wednesday, 9 January 2008, a main refinancing operation of EUR 128.5 billion matured and a new one of EUR 151.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with EUR 0.6 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.7 billion (compared with EUR 0.6 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 37 billion to EUR 180.6 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 201,704 −40
2 Claims on non-euro area residents denominated in foreign currency 140,648 2,653
2.1 Receivables from the IMF 9,143 −3
2.2 Balances with banks and security investments, external loans and other external assets 131,505 2,656
3 Claims on euro area residents denominated in foreign currency 38,713 −2,985
4 Claims on non-euro area residents denominated in euro 14,531 −174
4.1 Balances with banks, security investments and loans 14,531 −174
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 420,172 22,626
5.1 Main refinancing operations 151,500 23,001
5.2 Longer-term refinancing operations 268,487 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 184 −376
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 26,987 775
7 Securities of euro area residents denominated in euro 97,302 −873
8 General government debt denominated in euro 38,705 0
9 Other assets 332,300 3,290
Total assets 1,311,062 25,272
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 659,395 −11,420
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 181,285 37,071
2.1 Current accounts (covering the minimum reserve system) 180,614 36,962
2.2 Deposit facility 665 111
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 6 −2
3 Other liabilities to euro area credit institutions denominated in euro 345 −4
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 55,043 −2,528
5.1 General government 47,098 −3,014
5.2 Other liabilities 7,945 486
6 Liabilities to non-euro area residents denominated in euro 45,604 20
7 Liabilities to euro area residents denominated in foreign currency 1,105 −486
8 Liabilities to non-euro area residents denominated in foreign currency 18,795 1,201
8.1 Deposits, balances and other liabilities 18,795 1,201
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,311 0
10 Other liabilities 126,791 3,098
11 Revaluation accounts 147,665 0
12 Capital and reserves 69,723 −1,680
Total liabilities 1,311,062 25,272

Media contacts