Consolidated financial statement of the Eurosystem as at 26 October 2007

In the week ending 26 October 2007, the decrease of EUR 126 million in gold and gold receivables (asset item 1) reflected sales of gold by two Eurosystem central banks (consistent with the Central Bank Gold Agreement of 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 141.8 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) also remained virtually unchanged at EUR 95.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 637.8 billion. Liabilities to general government (liability item 5.1) increased by EUR 15.1 billion to EUR 69.4 billion.

The Eurosystem’s net lending to credit institutions (asset item 5 minus liability items 2.2, 2.3, 2.4, 2.5 and 4) rose by EUR 11.6 billion to EUR 446.9 billion. On Wednesday, 24 October 2007, a main refinancing operation of EUR 171 billion matured and a new one of EUR 182 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with EUR 0.7 billion in the preceding week).

As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 1 billion to EUR 191.7 billion.