Consolidated financial statement of the Eurosystem as at 13 June 2008

17 June 2008

Items not related to monetary policy operations

In the week ending 13 June 2008, the decrease of EUR 113 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 the issue of commemorative gold coins 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 167.4 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.3 billion to EUR 115.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.5 billion to EUR 675 billion. Liabilities to general government (liability item 5.1) decreased by EUR 0.8 billion to EUR 58.8 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 28 billion to EUR 466 billion. On Wednesday, 11 June 2008, a main refinancing operation of EUR 153 billion matured and a new one of EUR 191 billion was settled. On Thursday, 12 June 2008, a supplementary longer-term refinancing operation of EUR 60 billion matured and a new one of EUR 50 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (also approximately the same as in the previous 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 30.8 billion to EUR 225.9 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 209,402 −113
2 Claims on non-euro area residents denominated in foreign currency 135,683 −521
2.1 Receivables from the IMF 9,353 −74
2.2 Balances with banks and security investments, external loans and other external assets 126,330 −447
3 Claims on euro area residents denominated in foreign currency 55,502 202
4 Claims on non-euro area residents denominated in euro 14,788 −289
4.1 Balances with banks, security investments and loans 14,788 −289
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 466,035 28,005
5.1 Main refinancing operations 191,001 38,001
5.2 Longer-term refinancing operations 275,026 −10,001
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2 2
5.6 Credits related to margin calls 6 3
6 Other claims on euro area credit institutions denominated in euro 30,353 −1,043
7 Securities of euro area residents denominated in euro 115,223 280
8 General government debt denominated in euro 38,007 0
9 Other assets 377,619 8,345
Total assets 1,442,612 34,866
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 675,044 −514
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 225,932 30,786
2.1 Current accounts (covering the minimum reserve system) 225,868 30,799
2.2 Deposit facility 54 −16
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 10 3
3 Other liabilities to euro area credit institutions denominated in euro 148 −8
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 65,823 −673
5.1 General government 58,764 −823
5.2 Other liabilities 7,059 150
6 Liabilities to non-euro area residents denominated in euro 76,882 4,534
7 Liabilities to euro area residents denominated in foreign currency 1,600 −796
8 Liabilities to non-euro area residents denominated in foreign currency 17,057 470
8.1 Deposits, balances and other liabilities 17,057 470
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 147,072 1,064
11 Revaluation accounts 156,231 0
12 Capital and reserves 71,675 3
Total liabilities 1,442,612 34,866

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