In the week ending 10 June 2005, the decrease of EUR 161 million in gold and gold receivables (asset item 1) reflected the selling of gold by two 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) decreased by EUR 0.3 billion to EUR 159.3 billion.
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.8 billion to EUR 84 billion. Banknotes in circulation (liability item 1) rose by EUR 2 billion to EUR 519.1 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.5 billion to EUR 55.7 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) decreased by EUR 2.8 billion to EUR 369 billion. On Wednesday, 8 June 2005, a main refinancing operation of EUR 281.5 billion matured and a new one of EUR 279 billion was settled.
Recourse to both the marginal lending facility (asset item 5.5) and the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.5 billion and EUR 0.1 billion respectively 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 1 billion to EUR 144.9 billion.
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