Consolidated financial statement of the Eurosystem as at 30 May 2008

3 June 2008

Items not related to monetary policy operations

In the week ending 30 May 2008, the decrease of EUR 18 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).

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 167.3 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 1.6 billion to EUR 114 billion. Banknotes in circulation (liability item 1) rose by EUR 2.7 billion to EUR 672 billion. Liabilities to general government (liability item 5.1) decreased by EUR 16.4 billion to EUR 64.7 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 6.1 billion to EUR 455.8 billion. On Wednesday, 28 May 2008, a main refinancing operation of EUR 176.5 billion matured and a new one of EUR 170 billion was settled. On Thursday, 29 May 2008, a longer-term refinancing operation of EUR 50 billion matured and a new one of EUR 50 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.8 billion (compared with EUR 0.4 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion, which was approximately the same as 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 12.1 billion to EUR 207.5 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 209,545 −18
2 Claims on non-euro area residents denominated in foreign currency 136,301 −2,102
2.1 Receivables from the IMF 9,434 0
2.2 Balances with banks and security investments, external loans and other external assets 126,867 −2,102
3 Claims on euro area residents denominated in foreign currency 54,943 1,677
4 Claims on non-euro area residents denominated in euro 15,613 −64
4.1 Balances with banks, security investments and loans 15,613 −64
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 455,821 −6,128
5.1 Main refinancing operations 170,002 −6,499
5.2 Longer-term refinancing operations 285,027 −1
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 791 373
5.6 Credits related to margin calls 1 −1
6 Other claims on euro area credit institutions denominated in euro 32,095 −367
7 Securities of euro area residents denominated in euro 114,000 1,643
8 General government debt denominated in euro 38,007 −6
9 Other assets 366,920 4,813
Total assets 1,423,245 −552
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 672,006 2,714
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 207,582 12,126
2.1 Current accounts (covering the minimum reserve system) 207,516 12,136
2.2 Deposit facility 55 −12
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 11 2
3 Other liabilities to euro area credit institutions denominated in euro 156 −8
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 71,916 −16,562
5.1 General government 64,690 −16,442
5.2 Other liabilities 7,226 −120
6 Liabilities to non-euro area residents denominated in euro 73,373 −574
7 Liabilities to euro area residents denominated in foreign currency 2,280 −596
8 Liabilities to non-euro area residents denominated in foreign currency 16,514 232
8.1 Deposits, balances and other liabilities 16,514 232
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,148 0
10 Other liabilities 146,100 2,116
11 Revaluation accounts 156,231 0
12 Capital and reserves 71,939 0
Total liabilities 1,423,245 −552

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