In the week ending 23 February 2007, the decrease of EUR 37 million in gold and gold receivables (asset item 1) reflected sales of gold by one Eurosystem central bank (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) decreased by EUR 0.1 billion to EUR 145.2 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) increased by EUR 1 billion to EUR 85.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.7 billion to EUR 603.6 billion. Liabilities to general government (liability item 5.1) rose by EUR 21.8 billion to EUR 60.2 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) increased by EUR 14.7 billion to EUR 430.2 billion. On Thursday, 22 February 2007, a main refinancing operation of EUR 286.5 billion matured and a new one of EUR 301.5 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 0.5 billion (compared with virtually nil in the previous week).
As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) decreased by EUR 4.1 billion to EUR 177.8 billion.
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