Consolidated financial statement of the Eurosystem as at 8 February 2008

12 February 2008

Items not related to monetary policy operations

In the week ending 8 February 2008, the decrease of EUR 38 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 that came into effect on 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) remained virtually unchanged at EUR 151.7 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 100.7 billion. Banknotes in circulation (liability item 1) rose by EUR 0.8 billion to EUR 653.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 2.7 billion to EUR 45.1 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 5.5 billion to EUR 429.7 billion. On Wednesday, 6 February 2008, a main refinancing operation of EUR 167.5 billion matured and a new one of EUR 161.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.4 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.4 billion (compared with EUR 0.5 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 1.9 billion to EUR 196.5 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 201,414 −38
2 Claims on non-euro area residents denominated in foreign currency 140,789 −2,257
2.1 Receivables from the IMF 9,119 −2
2.2 Balances with banks and security investments, external loans and other external assets 131,670 −2,255
3 Claims on euro area residents denominated in foreign currency 36,977 2,452
4 Claims on non-euro area residents denominated in euro 15,006 505
4.1 Balances with banks, security investments and loans 15,006 505
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 430,434 −5,565
5.1 Main refinancing operations 161,501 −6,000
5.2 Longer-term refinancing operations 268,491 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 432 428
5.6 Credits related to margin calls 10 7
6 Other claims on euro area credit institutions denominated in euro 30,631 −64
7 Securities of euro area residents denominated in euro 100,664 1,324
8 General government debt denominated in euro 38,634 0
9 Other assets 333,743 1,017
Total assets 1,328,292 −2,626
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 653,384 760
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 197,236 −2,004
2.1 Current accounts (covering the minimum reserve system) 196,530 −1,941
2.2 Deposit facility 356 −154
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 350 91
3 Other liabilities to euro area credit institutions denominated in euro 256 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 52,067 −2,990
5.1 General government 45,098 −2,722
5.2 Other liabilities 6,969 −268
6 Liabilities to non-euro area residents denominated in euro 48,656 −141
7 Liabilities to euro area residents denominated in foreign currency 1,026 −275
8 Liabilities to non-euro area residents denominated in foreign currency 19,747 480
8.1 Deposits, balances and other liabilities 19,747 480
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 133,294 1,545
11 Revaluation accounts 147,665 0
12 Capital and reserves 69,650 −1
Total liabilities 1,328,292 −2,626

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