In the week ending 11 May 2007, the decrease of EUR 22 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).
The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) increased by EUR 0.1 billion to EUR 145.5 billion.
The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.4 billion to EUR 93.5 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 623.1 billion. Liabilities to general government (liability item 5.1) fell by EUR 6.9 billion to EUR 40 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 3.7 billion to EUR 426 billion. On Wednesday, 9 May 2007, a main refinancing operation of EUR 279.5 billion matured and a new one of EUR 276 billion was settled.
Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with EUR 0.2 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (as in the previous week).
As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 3.9 billion to EUR 185.9 billion.
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