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Consolidated financial statement of the Eurosystem as at 8 September 2006

12 September 2006

Items not related to monetary policy operations

In the week ending 8 September 2006, the decrease of EUR 114 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 152.2 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 0.1 billion to EUR 83.9 billion. Banknotes in circulation (liability item 1) rose by EUR 2.1 billion to EUR 589.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 0.8 billion to EUR 57.9 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 3.5 billion to EUR 427 billion. On Wednesday, 6 September 2006, a main refinancing operation of EUR 310.5 billion matured and a new one of EUR 307 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 (compared with virtually nil and EUR 0.1 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 5.1 billion to EUR 165.1 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 174,917 −114
2 Claims on non-euro area residents denominated in foreign currency 142,404 −247
2.1 Receivables from the IMF 12,637 −46
2.2 Balances with banks and security investments, external loans and other external assets 129,767 −201
3 Claims on euro area residents denominated in foreign currency 26,266 919
4 Claims on non-euro area residents denominated in euro 11,875 −165
4.1 Balances with banks, security investments and loans 11,875 −165
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 427,001 −3,513
5.1 Main refinancing operations 306,999 −3,501
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 0 −10
5.6 Credits related to margin calls 0 −2
6 Other claims on euro area credit institutions denominated in euro 8,377 114
7 Securities of euro area residents denominated in euro 83,885 106
8 General government debt denominated in euro 40,049 0
9 Other assets 190,624 1,046
Total assets 1,105,398 −1,854
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 589,247 2,081
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 165,145 −5,154
2.1 Current accounts (covering the minimum reserve system) 165,127 −5,114
2.2 Deposit facility 14 −44
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 4 4
3 Other liabilities to euro area credit institutions denominated in euro 121 22
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 65,809 626
5.1 General government 57,873 773
5.2 Other liabilities 7,936 −147
6 Liabilities to non-euro area residents denominated in euro 16,057 −147
7 Liabilities to euro area residents denominated in foreign currency 128 21
8 Liabilities to non-euro area residents denominated in foreign currency 10,681 768
8.1 Deposits, balances and other liabilities 10,681 768
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 66,126 −72
11 Revaluation accounts 121,984 0
12 Capital and reserves 64,408 1
Total liabilities 1,105,398 −1,854
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