Consolidated financial statement of the Eurosystem as at 7 October 2005

Items not related to monetary policy operations

In the week ending 7 October 2005, the decrease of EUR 98 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) remained virtually unchanged at EUR 165.5 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.7 billion to EUR 91.6 billion. Banknotes in circulation (liability item 1) rose by EUR 3.1 billion to EUR 536.3 billion. Liabilities to general government (liability item 5.1) decreased by EUR 17.5 billion to EUR 40.3 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 6.1 billion to EUR 377.9 billion. On Wednesday, 5 October 2005, a main refinancing operation of EUR 293.5 billion matured and a new one of EUR 288 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.5 billion in the preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.2 billion (compared with EUR 0.1 billion 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) increased by EUR 9 billion to EUR 154.1 billion.