In the week ending 16 May 2008, the decrease of EUR 19 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).
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 1 billion to EUR 160.8 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) rose by EUR 1.6 billion to EUR 112.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.4 billion to EUR 671.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 11 billion to EUR 65.4 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 42 billion to EUR 486.4 billion. On Wednesday, 14 May 2008, a main refinancing operation of EUR 150 billion matured and a new one of EUR 191.5 billion was settled. Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.5 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 38.3 billion to EUR 233.2 billion.
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 1 billion to EUR 160.8 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) rose by EUR 1.6 billion to EUR 112.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.4 billion to EUR 671.1 billion. Liabilities to general government (liability item 5.1) increased by EUR 11 billion to EUR 65.4 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 42 billion to EUR 486.4 billion. On Wednesday, 14 May 2008, a main refinancing operation of EUR 150 billion matured and a new one of EUR 191.5 billion was settled. Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the preceding week), while recourse to the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.5 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 38.3 billion to EUR 233.2 billion.
