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Consolidated financial statement of the Eurosystem as at 22 September 2006

26 September 2006

Items not related to monetary policy operations

In the week ending 22 September 2006, the decrease of EUR 172 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 0.7 billion to EUR 151.3 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 0.8 billion to EUR 83.1 billion. Banknotes in circulation (liability item 1) fell by EUR 2 billion to EUR 585.9 billion. Liabilities to general government (liability item 5.1) increased by EUR 12.3 billion to EUR 63 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) increased by EUR 10.9 billion to EUR 431 billion. On Wednesday, 20 September 2006, a main refinancing operation of EUR 300.5 billion matured and a new one of EUR 311 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 EUR 0.1 billion and EUR 0.5 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 0.5 billion to EUR 167 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 174,246 −172
2 Claims on non-euro area residents denominated in foreign currency 142,209 −1,206
2.1 Receivables from the IMF 12,385 −103
2.2 Balances with banks and security investments, external loans and other external assets 129,824 −1,103
3 Claims on euro area residents denominated in foreign currency 27,038 249
4 Claims on non-euro area residents denominated in euro 10,916 205
4.1 Balances with banks, security investments and loans 10,916 205
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 431,000 10,397
5.1 Main refinancing operations 310,997 10,498
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 1 −101
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 9,108 −198
7 Securities of euro area residents denominated in euro 83,067 −794
8 General government debt denominated in euro 40,049 0
9 Other assets 194,897 1,896
Total assets 1,112,530 10,377
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 585,919 −1,964
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 167,068 −958
2.1 Current accounts (covering the minimum reserve system) 167,024 −474
2.2 Deposit facility 32 −495
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 12 11
3 Other liabilities to euro area credit institutions denominated in euro 121 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 71,011 12,375
5.1 General government 62,957 12,340
5.2 Other liabilities 8,054 35
6 Liabilities to non-euro area residents denominated in euro 16,865 1,194
7 Liabilities to euro area residents denominated in foreign currency 121 −22
8 Liabilities to non-euro area residents denominated in foreign currency 12,152 −265
8.1 Deposits, balances and other liabilities 12,152 −265
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 67,023 16
11 Revaluation accounts 121,984 0
12 Capital and reserves 64,574 1
Total liabilities 1,112,530 10,377
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