Consolidated financial statement of the Eurosystem as at 25 January 2008

29 January 2008

Items not related to monetary policy operations

In the week ending 25 January 2008, the decrease of EUR 51 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).

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.8 billion to EUR 151.9 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 1.4 billion to EUR 98.1 billion. Banknotes in circulation (liability item 1) fell by EUR 3.7 billion to EUR 649.5 billion. Liabilities to general government (liability item 5.1) increased by EUR 25.3 billion to EUR 64.1 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) decreased by EUR 14.8 billion to EUR 444 billion. On Wednesday, 23 January 2008, a main refinancing operation of EUR 190.5 billion matured and a new one of EUR 175.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.5 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.5 billion (compared with EUR 0.2 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 38.1 billion to EUR 192.7 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 201,612 −51
2 Claims on non-euro area residents denominated in foreign currency 140,031 −932
2.1 Receivables from the IMF 9,124 −2
2.2 Balances with banks and security investments, external loans and other external assets 130,907 −930
3 Claims on euro area residents denominated in foreign currency 36,356 −586
4 Claims on non-euro area residents denominated in euro 16,194 1,536
4.1 Balances with banks, security investments and loans 16,194 1,536
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 444,491 −14,533
5.1 Main refinancing operations 175,500 −15,000
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 492 491
5.6 Credits related to margin calls 12 −24
6 Other claims on euro area credit institutions denominated in euro 28,572 −1,722
7 Securities of euro area residents denominated in euro 98,057 1,362
8 General government debt denominated in euro 38,705 0
9 Other assets 333,524 1,689
Total assets 1,337,542 −13,237
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 649,514 −3,731
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 193,199 −37,857
2.1 Current accounts (covering the minimum reserve system) 192,680 −38,145
2.2 Deposit facility 501 289
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 18 −1
3 Other liabilities to euro area credit institutions denominated in euro 314 −20
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 71,972 24,904
5.1 General government 64,075 25,315
5.2 Other liabilities 7,897 −411
6 Liabilities to non-euro area residents denominated in euro 51,041 2,420
7 Liabilities to euro area residents denominated in foreign currency 1,180 −189
8 Liabilities to non-euro area residents denominated in foreign currency 17,978 −480
8.1 Deposits, balances and other liabilities 17,978 −480
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 129,663 1,719
11 Revaluation accounts 147,665 0
12 Capital and reserves 69,705 −3
Total liabilities 1,337,542 −13,237

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