Consolidated financial statement of the Eurosystem as at 3 March 2006

7 March 2006

Items not related to monetary policy operations

In the week ending 3 March 2006, the decrease of EUR 133 million in gold and gold receivables (asset item 1) reflected the selling of gold by three 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 0.7 billion to EUR 160.7 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 1.4 billion to EUR 95.5 billion. Banknotes in circulation (liability item 1) rose by EUR 5 billion to EUR 555.2 billion. Liabilities to general government (liability item 5.1) fell by EUR 10.2 billion to EUR 56.8 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) decreased by EUR 6.3 billion to EUR 411.5 billion. On Tuesday, 28 February 2006, a main refinancing operation of EUR 308 billion matured and a new one of EUR 301.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) and the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.4 billion and EUR 0.6 billion respectively in the previous 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) decreased by EUR 0.2 billion to EUR 158.9 billion.

Assets (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Gold and gold receivables 163,356 −133
2 Claims on non-euro area residents denominated in foreign currency 152,602 −2,649
2.1 Receivables from the IMF 12,510 −3
2.2 Balances with banks and security investments, external loans and other external assets 140,092 −2,646
3 Claims on euro area residents denominated in foreign currency 24,050 1,478
4 Claims on non-euro area residents denominated in euro 11,592 170
4.1 Balances with banks, security investments and loans 11,592 170
4.2 Claims arising from the credit facility under ERM II 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 411,544 −6,892
5.1 Main refinancing operations 301,499 −6,502
5.2 Longer-term refinancing operations 110,018 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 27 −390
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 3,601 −313
7 Securities of euro area residents denominated in euro 95,472 1,433
8 General government debt denominated in euro 40,598 0
9 Other assets 152,950 −61
Total assets 1,055,765 −6,967
Liabilities (EUR millions) Balance Difference compared with last week due to transactions
Totals/sub-totals may not add up, due to rounding
1 Banknotes in circulation 555,226 5,020
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 158,966 −800
2.1 Current accounts (covering the minimum reserve system) 158,946 −205
2.2 Deposit facility 17 −598
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 3
3 Other liabilities to euro area credit institutions denominated in euro 158 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 64,465 −10,011
5.1 General government 56,831 −10,201
5.2 Other liabilities 7,634 190
6 Liabilities to non-euro area residents denominated in euro 13,063 −99
7 Liabilities to euro area residents denominated in foreign currency 234 6
8 Liabilities to non-euro area residents denominated in foreign currency 9,754 −436
8.1 Deposits, balances and other liabilities 9,754 −436
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,920 0
10 Other liabilities 66,887 −648
11 Revaluation accounts 119,113 0
12 Capital and reserves 61,979 1
Total liabilities 1,055,765 −6,967

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