Consolidated financial statement of the Eurosystem as at 16 September 2005

20 September 2005

Items not related to monetary policy operations

In the week ending 16 September 2005, the decrease of EUR 57 million in gold and gold receivables (asset item 1) reflected the selling of gold by one Eurosystem central bank (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 0.2 billion to EUR 166.5 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 0.3 billion to EUR 89.6 billion. Banknotes in circulation (liability item 1) fell by EUR 1.6 billion to EUR 530.4 billion. Liabilities to general government (liability item 5.1) decreased by EUR 15 billion to EUR 39.5 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 15 billion to EUR 369.5 billion. On Wednesday, 14 September 2005, a main refinancing operation of EUR 294.5 billion matured and a new one of EUR 279.5 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) decreased by EUR 0.1 billion to EUR 151.4 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 137,772 −57
2 Claims on non-euro area residents denominated in foreign currency 159,398 1,324
2.1 Receivables from the IMF 19,825 −6
2.2 Balances with banks and security investments, external loans and other external assets 139,573 1,330
3 Claims on euro area residents denominated in foreign currency 20,961 −923
4 Claims on non-euro area residents denominated in euro 9,222 227
4.1 Balances with banks, security investments and loans 9,222 227
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 369,502 −15,007
5.1 Main refinancing operations 279,501 −14,998
5.2 Longer-term refinancing operations 89,999 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 1 −2
5.6 Credits related to margin calls 1 −7
6 Other claims on euro area credit institutions denominated in euro 3,598 212
7 Securities of euro area residents denominated in euro 89,589 −344
8 General government debt denominated in euro 40,750 0
9 Other assets 133,457 −165
Total assets 964,249 −14,733
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 530,439 −1,555
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 151,431 −77
2.1 Current accounts (covering the minimum reserve system) 151,409 −86
2.2 Deposit facility 20 10
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 2 −1
3 Other liabilities to euro area credit institutions denominated in euro 127 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 47,002 −14,498
5.1 General government 39,539 −15,023
5.2 Other liabilities 7,463 525
6 Liabilities to non-euro area residents denominated in euro 10,568 −117
7 Liabilities to euro area residents denominated in foreign currency 267 62
8 Liabilities to non-euro area residents denominated in foreign currency 7,708 500
8.1 Deposits, balances and other liabilities 7,708 500
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,896 0
10 Other liabilities 60,115 952
11 Revaluation accounts 92,292 0
12 Capital and reserves 58,404 0
Total liabilities 964,249 −14,733

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