Consolidated financial statement of the Eurosystem as at 14 July 2006

Items not related to monetary policy operations

In the week ending 14 July 2006, the decrease of EUR 74 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) and the purchase of gold coins by another Eurosystem central bank.

The net position of the Eurosystem in foreign currency (asset items 2 and 3 minus liability items 7, 8 and 9) decreased by EUR 0.2 billion to EUR 153 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) decreased by EUR 1.9 billion to EUR 89.6 billion. Banknotes in circulation (liability item 1) increased by EUR 1.3 billion to EUR 586.6 billion. Liabilities to general government (liability item 5.1) fell by EUR 4.6 billion to EUR 64.9 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 4.5 billion to EUR 441.4 billion. On Wednesday, 12 July 2006, a main refinancing operation of EUR 326 billion matured and a new one of EUR 321.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (also approximately the same as 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 0.3 billion to EUR 168.2 billion.