Consolidated financial statement of the Eurosystem as at 14 October 2005

18 October 2005

Items not related to monetary policy operations

In the week ending 14 October 2005, the decrease of EUR 104 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 0.4 billion to EUR 165.9 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 0.3 billion to EUR 91.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.9 billion to EUR 535.4 billion. Liabilities to general government (liability item 5.1) fell by EUR 1.7 billion to EUR 38.6 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 6.9 billion to EUR 371 billion. On Wednesday, 12 October 2005, a main refinancing operation of EUR 288 billion matured and a new one of EUR 281 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was also virtually nil (compared with EUR 0.2 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) decreased by EUR 3.3 billion to EUR 150.8 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 149,680 −104
2 Claims on non-euro area residents denominated in foreign currency 160,001 −1,313
2.1 Receivables from the IMF 19,430 5
2.2 Balances with banks and security investments, external loans and other external assets 140,571 −1,318
3 Claims on euro area residents denominated in foreign currency 21,375 220
4 Claims on non-euro area residents denominated in euro 9,230 232
4.1 Balances with banks, security investments and loans 9,230 232
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 371,001 −7,011
5.1 Main refinancing operations 280,999 −7,001
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 2 −10
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 3,249 −437
7 Securities of euro area residents denominated in euro 91,829 269
8 General government debt denominated in euro 40,753 0
9 Other assets 136,233 499
Total assets 983,351 −7,645
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 535,363 −938
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 150,855 −3,439
2.1 Current accounts (covering the minimum reserve system) 150,839 −3,293
2.2 Deposit facility 14 −148
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 2 2
3 Other liabilities to euro area credit institutions denominated in euro 153 1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 46,370 −1,837
5.1 General government 38,580 −1,747
5.2 Other liabilities 7,790 −90
6 Liabilities to non-euro area residents denominated in euro 10,797 150
7 Liabilities to euro area residents denominated in foreign currency 331 91
8 Liabilities to non-euro area residents denominated in foreign currency 9,266 −1,618
8.1 Deposits, balances and other liabilities 9,266 −1,618
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,885 0
10 Other liabilities 62,177 −56
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,405 1
Total liabilities 983,351 −7,645

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