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Gold/Mining/Energy : Euro Impact on Gold, USD ...
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To: banco$ who wrote (188)1/5/1999 7:22:00 PM
From: banco$  Read Replies (3) of 289
 
ESCB TO PUBLISH 'STOCK OF GOLD' IN ITS FINANCIAL STATEMENTS EACH WEEK:

"the stock of gold (asset item 1) of the Eurosystem amounted to EUR 99.6 billion.

Assets
1.The item gold and gold receivables forms part of the foreign reserves of the Eurosystem. It consists of physical gold and non-physical gold in the form of gold deposit accounts."

PRESS RELEASE (abbreviated)

Consolidated opening financial statement of the European System
of Central Banks (Eurosystem) as at 1 January 1999

5 January 1999

According to Article 15.2 of the Statute of the ESCB, a consolidated financial statement of the ESCB shall be published each week. The Governing Council of the European Central Bank (ECB) has decided that the reporting day for this weekly financial statement shall be Friday, and that publication will take place on the following Tuesday. The first weekly financial statement of the ESCB in the composition of the Eurosystem (comprising the ECB and the national central banks of the 11 EU Member States participating in Stage Three of EMU from the start) will therefore be drawn up for the reporting date 8 January 1999.

The weekly financial statement contains the assets and liabilities held by the Eurosystem vis-à-vis third parties as they arise in the accounts of the 11 euro area national central banks (NCBs) and the ECB.

According to the opening financial statement of the Eurosystem on 1 January 1999, the most important single item on the asset side of the Eurosystem's balance sheet was external assets. The net position in foreign currency (asset items 2 and 3 minus liability items 6, 7 and 8) amounted to EUR 227.4 billion, whereby assets of EUR 237.0
billion were opposed to liabilities of EUR 9.6 billion. These figures refer to non-euro area currencies, since euro area currency denominated foreign exchange positions held on 31 December 1998 were transformed automatically into domestic positions through the transition to Stage Three (and are displayed, for example, under asset item 6). In addition, the stock of gold (asset item 1) of the Eurosystem amounted to EUR 99.6 billion.

***
European Central Bank
Press Division
Kaiserstrasse 29, D-60311 Frankfurt am Main
Tel.: 0049 69 1344 7455, Fax: 0049 69 1344 7404
Internet: ecb.int
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