Consolidated financial statement of the Eurosystem as at 21 October 2005

25 October 2005

Items not related to monetary policy operations

In the week ending 21 October 2005, the decrease of EUR 112 million in gold and gold receivables (asset item 1) reflected sales 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 0.1 billion to EUR 165.8 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) remained virtually unchanged at EUR 91.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.1 billion to EUR 533.3 billion. Liabilities to general government (liability item 5.1) increased by EUR 17.7 billion to EUR 56.3 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) increased by EUR 14.9 billion to EUR 385.9 billion. On Wednesday, 19 October 2005, a main refinancing operation of EUR 281 billion matured and a new one of EUR 296 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 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 1.6 billion to EUR 149.3 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 149,568 −112
2 Claims on non-euro area residents denominated in foreign currency 161,295 1,294
2.1 Receivables from the IMF 19,260 −170
2.2 Balances with banks and security investments, external loans and other external assets 142,035 1,464
3 Claims on euro area residents denominated in foreign currency 21,086 −289
4 Claims on non-euro area residents denominated in euro 8,537 −693
4.1 Balances with banks, security investments and loans 8,537 −693
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 386,005 15,004
5.1 Main refinancing operations 296,000 15,001
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 5 3
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 3,391 142
7 Securities of euro area residents denominated in euro 91,783 −46
8 General government debt denominated in euro 40,753 0
9 Other assets 136,134 −99
Total assets 998,552 15,201
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 533,267 −2,096
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 149,361 −1,494
2.1 Current accounts (covering the minimum reserve system) 149,274 −1,565
2.2 Deposit facility 82 68
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 5 3
3 Other liabilities to euro area credit institutions denominated in euro 153 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 63,673 17,303
5.1 General government 56,260 17,680
5.2 Other liabilities 7,413 −377
6 Liabilities to non-euro area residents denominated in euro 10,949 152
7 Liabilities to euro area residents denominated in foreign currency 222 −109
8 Liabilities to non-euro area residents denominated in foreign currency 10,440 1,174
8.1 Deposits, balances and other liabilities 10,440 1,174
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 62,447 270
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,406 1
Total liabilities 998,552 15,201

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