Consolidated financial statement of the Eurosystem as at 5 September 2008

9 September 2008

Items not related to monetary policy operations

In the week ending 5 September 2008, the decrease of EUR 30 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) decreased by EUR 0.2 billion to EUR 167 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) fell by EUR 1.4 billion to EUR 109.7 billion. Banknotes in circulation (liability item 1) increased by EUR 1.1 billion to EUR 684.6 billion. Liabilities to general government (liability item 5.1) decreased by EUR 16.5 billion to EUR 61.5 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 6.9 billion to EUR 459.9 billion. On Wednesday, 3 September 2008, a main refinancing operation of EUR 167 billion matured and a new one of EUR 160 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at close to zero, while recourse to the deposit facility (liability item 2.2) was EUR 0.1 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) increased by EUR 6.7 billion to EUR 210.7 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 208,221 −30
2 Claims on non-euro area residents denominated in foreign currency 135,220 −152
2.1 Receivables from the IMF 9,291 0
2.2 Balances with banks and security investments, external loans and other external assets 125,929 −152
3 Claims on euro area residents denominated in foreign currency 55,545 402
4 Claims on non-euro area residents denominated in euro 15,043 −374
4.1 Balances with banks, security investments and loans 15,043 −374
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 460,002 −7,042
5.1 Main refinancing operations 160,000 −7,001
5.2 Longer-term refinancing operations 300,000 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1 −38
5.6 Credits related to margin calls 1 −3
6 Other claims on euro area credit institutions denominated in euro 37,582 −598
7 Securities of euro area residents denominated in euro 109,728 −1,363
8 General government debt denominated in euro 37,457 0
9 Other assets 382,221 1,037
Total assets 1,441,019 −8,120
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 684,637 1,108
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 210,822 6,524
2.1 Current accounts (covering the minimum reserve system) 210,738 6,678
2.2 Deposit facility 81 −151
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 −3
3 Other liabilities to euro area credit institutions denominated in euro 140 −12
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 68,458 −16,568
5.1 General government 61,494 −16,465
5.2 Other liabilities 6,964 −103
6 Liabilities to non-euro area residents denominated in euro 78,980 −1,079
7 Liabilities to euro area residents denominated in foreign currency 1,335 451
8 Liabilities to non-euro area residents denominated in foreign currency 17,329 −10
8.1 Deposits, balances and other liabilities 17,329 −10
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,120 0
10 Other liabilities 150,158 1,465
11 Revaluation accounts 152,364 0
12 Capital and reserves 71,676 1
Total liabilities 1,441,019 −8,120

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