Consolidated financial statement of the Eurosystem as at 25 May 2007
Items not related to monetary policy operations
In the week ending 25 May 2007, the decrease of EUR 191 million in gold and gold receivables (asset item 1) reflected sales of gold by three Eurosystem central banks (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) increased by EUR 0.4 billion to EUR 146.3 billion (see “Other issues”).
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 1.1 billion to EUR 94.5 billion. Banknotes in circulation (liability item 1) fell by EUR 0.7 billion to EUR 623.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 18.9 billion to EUR 60.2 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 14.6 billion to EUR 445.6 billion. On Tuesday, 22 May 2007, a main refinancing operation of EUR 281 billion matured and a new one of EUR 295.5 billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (also 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) decreased by EUR 2.4 billion to EUR 187.2 billion.
Other issues
It should be noted with respect to the consolidated weekly financial statement of the Eurosystem as at 18 May 2007 (published on 22 May 2007) that claims on euro area residents denominated in foreign currency (asset item 3) should have shown a balance of EUR 24,111 million, instead of EUR 24,569 million, and that other assets (asset item 9) should have read EUR 231,177 million, instead of EUR 230,719 million.
Thus, the actual week-on-week changes in these positions are EUR 895 million and EUR 1,362 million, respectively.
| 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 | 180,024 | −191 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 142,506 | 220 | |
| 2.1 | Receivables from the IMF | 9,956 | 296 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 132,550 | −76 | |
| 3 | Claims on euro area residents denominated in foreign currency | 25,006 | 437 | |
| 4 | Claims on non-euro area residents denominated in euro | 14,941 | −157 | |
| 4.1 | Balances with banks, security investments and loans | 14,941 | −157 | |
| 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 | 445,739 | 14,496 | |
| 5.1 | Main refinancing operations | 295,503 | 14,503 | |
| 5.2 | Longer-term refinancing operations | 150,000 | 1 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 235 | −9 | |
| 5.6 | Credits related to margin calls | 1 | 1 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 14,135 | 353 | |
| 7 | Securities of euro area residents denominated in euro | 94,505 | 1,081 | |
| 8 | General government debt denominated in euro | 37,657 | 0 | |
| 9 | Other assets | 232,539 | 1,820 | |
| Total assets | 1,187,052 | 18,059 | ||
| 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 | 623,383 | −682 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 187,400 | −2,455 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 187,221 | −2,391 | |
| 2.2 | Deposit facility | 178 | −60 | |
| 2.3 | Fixed-term deposits | 0 | 0 | |
| 2.4 | Fine-tuning reverse operations | 0 | 0 | |
| 2.5 | Deposits related to margin calls | 1 | −4 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 201 | 62 | |
| 4 | Debt certificates issued | 0 | 0 | |
| 5 | Liabilities to other euro area residents denominated in euro | 68,777 | 18,923 | |
| 5.1 | General government | 60,152 | 18,947 | |
| 5.2 | Other liabilities | 8,625 | −24 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 20,135 | 29 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 155 | −4 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 15,474 | 685 | |
| 8.1 | Deposits, balances and other liabilities | 15,474 | 685 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 5,578 | 0 | |
| 10 | Other liabilities | 72,098 | 1,500 | |
| 11 | Revaluation accounts | 125,521 | 0 | |
| 12 | Capital and reserves | 68,330 | 1 | |
| Total liabilities | 1,187,052 | 18,059 | ||
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