Consolidated financial statement of the Eurosystem as at 1 September 2006

5 September 2006

Items not related to monetary policy operations

In the week ending 1 September 2006, the decrease of EUR 28 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) remained virtually unchanged at EUR 152.3 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 1 billion to EUR 83.8 billion. Banknotes in circulation (liability item 1) increased by EUR 2.3 billion to EUR 587.2 billion. Liabilities to general government (liability item 5.1) fell by EUR 13.3 billion to EUR 57.1 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 7 billion to EUR 430.5 billion. On Wednesday, 30 August 2006, a main refinancing operation of EUR 317.5 billion matured and a new one of EUR 310.5 billion was settled. On Thursday, 31 August 2006, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 40 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) remained virtually unchanged at close to zero, while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (compared with virtually nil 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) increased by EUR 4.1 billion to EUR 170.2 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 175,031 −28
2 Claims on non-euro area residents denominated in foreign currency 142,651 −874
2.1 Receivables from the IMF 12,683 −12
2.2 Balances with banks and security investments, external loans and other external assets 129,968 −862
3 Claims on euro area residents denominated in foreign currency 25,347 920
4 Claims on non-euro area residents denominated in euro 12,040 −342
4.1 Balances with banks, security investments and loans 12,040 −342
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 430,514 −6,997
5.1 Main refinancing operations 310,500 −7,000
5.2 Longer-term refinancing operations 120,002 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 10 10
5.6 Credits related to margin calls 2 −7
6 Other claims on euro area credit institutions denominated in euro 8,263 711
7 Securities of euro area residents denominated in euro 83,779 −959
8 General government debt denominated in euro 40,049 0
9 Other assets 189,578 1,796
Total assets 1,107,252 −5,773
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 587,166 2,301
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 170,299 4,166
2.1 Current accounts (covering the minimum reserve system) 170,241 4,142
2.2 Deposit facility 58 24
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 99 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 65,183 −13,256
5.1 General government 57,100 −13,317
5.2 Other liabilities 8,083 61
6 Liabilities to non-euro area residents denominated in euro 16,204 21
7 Liabilities to euro area residents denominated in foreign currency 107 1
8 Liabilities to non-euro area residents denominated in foreign currency 9,913 53
8.1 Deposits, balances and other liabilities 9,913 53
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,692 0
10 Other liabilities 66,198 940
11 Revaluation accounts 121,984 0
12 Capital and reserves 64,407 1
Total liabilities 1,107,252 −5,773

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