Consolidated financial statement of the Eurosystem as at 4 August 2006

Items not related to monetary policy operations

In the week ending 4 August 2006, the decrease of EUR 4 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 0.1 billion to EUR 151.9 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) fell by EUR 1.3 billion to EUR 85.9 billion. Banknotes in circulation (liability item 1) increased by EUR 5.4 billion to EUR 593.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 24.5 billion to EUR 62.3 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 14.1 billion to EUR 444 billion. On Wednesday, 2 August 2006, a main refinancing operation of EUR 338 billion matured and a new one of EUR 324 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, which was approximately the same as in the preceding 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) increased by EUR 5.6 billion to EUR 167.8 billion.