Consolidated opening financial statement of the Eurosystem as at 1 January 2007 and Consolidated financial statement of the Eurosystem as at 5 January 2007
Consolidated opening financial statement of the Eurosystem as at 1 January 2007
As announced last week, the ECB is publishing a consolidated opening financial statement of the Eurosystem as at 1 January 2007 including the balance sheet figures from Banka Slovenije, which joined the Eurosystem on that day, together with the consolidated weekly financial statement as at 5 January 2007. Items previously denominated in Slovenian tolars have been moved from items “denominated in foreign currency” to items “denominated in euro”. Transactions and balances of accounts held with residents of Slovenia have been moved from “non-euro area” balance sheet items to “euro area” items. Furthermore, capital and reserves (liability item 12) has increased compared with the consolidated weekly financial statement as at 29 December 2006, reflecting the effect of the entry of Banka Slovenije into the Eurosystem, the paying-up of the respective contributions of the national central banks of Bulgaria and Romania to the capital of the ECB on the accession of those Member States to the European Union on 1 January 2007[1] and end-of-year adjustments by another Eurosystem central bank.
Consolidated financial statement of the Eurosystem as at 5 January 2007
Items not related to monetary policy operations
In the week ending 5 January 2007, the decrease of EUR 25 million in gold and gold receivables (asset item 1) reflected the selling of gold by one Eurosystem central bank (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) remained virtually unchanged at EUR 148.8 billion.
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.6 billion to EUR 80.7 billion. Banknotes in circulation (liability item 1) decreased by EUR 10.4 billion to EUR 619.3 billion. Liabilities to general government (liability item 5.1) rose by EUR 7.5 billion to EUR 53 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 1.4 billion to EUR 448.2 billion. On Thursday, 4 January 2007, a main refinancing operation of EUR 330.5 billion matured and a new one of EUR 330.5 billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the consolidated opening financial statement of the Eurosystem), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (compared with EUR 1 billion in the consolidated opening financial statement of the Eurosystem).
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 4.8 billion to EUR 178.7 billion.
| Assets (EUR millions) | Balance | ||
|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | |||
| 1 | Gold and gold receivables | 176,846 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 143,113 | |
| 2.1 | Receivables from the IMF | 10,695 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 132,417 | |
| 3 | Claims on euro area residents denominated in foreign currency | 24,025 | |
| 4 | Claims on non-euro area residents denominated in euro | 12,980 | |
| 4.1 | Balances with banks, security investments and loans | 12,980 | |
| 4.2 | Claims arising from the credit facility under ERM II | 0 | |
| 5 | Lending to euro area credit institutions related to monetary policy operations denominated in euro | 450,540 | |
| 5.1 | Main refinancing operations | 330,452 | |
| 5.2 | Longer-term refinancing operations | 120,000 | |
| 5.3 | Fine-tuning reverse operations | 0 | |
| 5.4 | Structural reverse operations | 0 | |
| 5.5 | Marginal lending facility | 88 | |
| 5.6 | Credits related to margin calls | 0 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 12,619 | |
| 7 | Securities of euro area residents denominated in euro | 80,075 | |
| 8 | General government debt denominated in euro | 39,359 | |
| 9 | Other assets | 217,970 | |
| Total assets | 1,157,527 | ||
| Liabilities (EUR millions) | Balance | ||
|---|---|---|---|
| Totals/sub-totals may not add up, due to rounding | |||
| 1 | Banknotes in circulation | 629,637 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 177,476 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 173,870 | |
| 2.2 | Deposit facility | 964 | |
| 2.3 | Fixed-term deposits | 2,640 | |
| 2.4 | Fine-tuning reverse operations | 0 | |
| 2.5 | Deposits related to margin calls | 2 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 78 | |
| 4 | Debt certificates issued | 135 | |
| 5 | Liabilities to other euro area residents denominated in euro | 53,714 | |
| 5.1 | General government | 45,502 | |
| 5.2 | Other liabilities | 8,212 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 16,629 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 162 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 12,621 | |
| 8.1 | Deposits, balances and other liabilities | 12,621 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 5,611 | |
| 10 | Other liabilities | 73,080 | |
| 11 | Revaluation accounts | 121,990 | |
| 12 | Capital and reserves | 66,394 | |
| Total liabilities | 1,157,527 | ||
- For further details, please refer to the ECB press release of 2 January 2007 entitled “Key for subscription to the ECB’s capital – enlargement of the EU and the Eurosystem”.
Consolidated financial statement of the Eurosystem as at 5 January 2007
| 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 | 176,821 | −25 | |
| 2 | Claims on non-euro area residents denominated in foreign currency | 144,021 | 908 | |
| 2.1 | Receivables from the IMF | 10,686 | −9 | |
| 2.2 | Balances with banks and security investments, external loans and other external assets | 133,334 | 917 | |
| 3 | Claims on euro area residents denominated in foreign currency | 22,448 | −1,577 | |
| 4 | Claims on non-euro area residents denominated in euro | 12,419 | −561 | |
| 4.1 | Balances with banks, security investments and loans | 12,419 | −561 | |
| 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 | 450,501 | −39 | |
| 5.1 | Main refinancing operations | 330,499 | 47 | |
| 5.2 | Longer-term refinancing operations | 120,000 | 0 | |
| 5.3 | Fine-tuning reverse operations | 0 | 0 | |
| 5.4 | Structural reverse operations | 0 | 0 | |
| 5.5 | Marginal lending facility | 2 | −86 | |
| 5.6 | Credits related to margin calls | 0 | 0 | |
| 6 | Other claims on euro area credit institutions denominated in euro | 12,885 | 266 | |
| 7 | Securities of euro area residents denominated in euro | 80,723 | 648 | |
| 8 | General government debt denominated in euro | 39,359 | 0 | |
| 9 | Other assets | 215,239 | −2,731 | |
| Total assets | 1,154,416 | −3,111 | ||
| 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 | 619,263 | −10,374 | |
| 2 | Liabilities to euro area credit institutions related to monetary policy operations denominated in euro | 180,865 | 3,389 | |
| 2.1 | Current accounts (covering the minimum reserve system) | 178,700 | 4,830 | |
| 2.2 | Deposit facility | 69 | −895 | |
| 2.3 | Fixed-term deposits | 2,096 | −544 | |
| 2.4 | Fine-tuning reverse operations | 0 | 0 | |
| 2.5 | Deposits related to margin calls | 0 | −2 | |
| 3 | Other liabilities to euro area credit institutions denominated in euro | 133 | 55 | |
| 4 | Debt certificates issued | 95 | −40 | |
| 5 | Liabilities to other euro area residents denominated in euro | 61,338 | 7,624 | |
| 5.1 | General government | 52,995 | 7,493 | |
| 5.2 | Other liabilities | 8,343 | 131 | |
| 6 | Liabilities to non-euro area residents denominated in euro | 16,098 | −531 | |
| 7 | Liabilities to euro area residents denominated in foreign currency | 160 | −2 | |
| 8 | Liabilities to non-euro area residents denominated in foreign currency | 11,937 | −684 | |
| 8.1 | Deposits, balances and other liabilities | 11,937 | −684 | |
| 8.2 | Liabilities arising from the credit facility under ERM II | 0 | 0 | |
| 9 | Counterpart of special drawing rights allocated by the IMF | 5,611 | 0 | |
| 10 | Other liabilities | 70,531 | −2,549 | |
| 11 | Revaluation accounts | 121,990 | 0 | |
| 12 | Capital and reserves | 66,395 | 1 | |
| Total liabilities | 1,154,416 | −3,111 | ||
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