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Consolidated financial statement of the Eurosystem as at 8 December 2006

12 December 2006

Items not related to monetary policy operations

In the week ending 8 December 2006, the decrease of EUR 71 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) increased by EUR 0.2 billion to EUR 152.6 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 0.4 billion to EUR 78.6 billion. Banknotes in circulation (liability item 1) increased by EUR 8.5 billion to EUR 610.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 29.1 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) increased by EUR 20.7 billion to EUR 448.8 billion. On Wednesday, 6 December 2006, a main refinancing operation of EUR 308 billion matured and a new one of EUR 329 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.2 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with virtually nil 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) decreased by EUR 16 billion to EUR 168 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 174,466 −71
2 Claims on non-euro area residents denominated in foreign currency 144,804 −2,350
2.1 Receivables from the IMF 10,854 −2
2.2 Balances with banks and security investments, external loans and other external assets 133,950 −2,348
3 Claims on euro area residents denominated in foreign currency 24,178 248
4 Claims on non-euro area residents denominated in euro 11,286 472
4.1 Balances with banks, security investments and loans 11,286 472
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 449,000 20,825
5.1 Main refinancing operations 329,000 21,001
5.2 Longer-term refinancing operations 119,999 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −177
5.6 Credits related to margin calls 1 1
6 Other claims on euro area credit institutions denominated in euro 9,503 −330
7 Securities of euro area residents denominated in euro 78,632 −367
8 General government debt denominated in euro 40,035 8
9 Other assets 214,348 1,673
Total assets 1,146,252 20,108
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 610,219 8,459
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 168,190 −15,854
2.1 Current accounts (covering the minimum reserve system) 168,023 −15,986
2.2 Deposit facility 166 134
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −2
3 Other liabilities to euro area credit institutions denominated in euro 84 −44
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 73,675 29,427
5.1 General government 64,932 29,070
5.2 Other liabilities 8,743 357
6 Liabilities to non-euro area residents denominated in euro 16,017 −441
7 Liabilities to euro area residents denominated in foreign currency 85 2
8 Liabilities to non-euro area residents denominated in foreign currency 10,604 −2,319
8.1 Deposits, balances and other liabilities 10,604 −2,319
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,701 0
10 Other liabilities 73,366 875
11 Revaluation accounts 123,721 0
12 Capital and reserves 64,590 3
Total liabilities 1,146,252 20,108
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