Consolidated financial statement of the Eurosystem as at 28 October 2005

1 November 2005

Items not related to monetary policy operations

In the week ending 28 October 2005, the decrease of EUR 398 million in gold and gold receivables (asset item 1) reflected sales of gold by three 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 0.2 billion to EUR 165.6 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) increased by EUR 0.5 billion to EUR 92.3 billion. Banknotes in circulation (liability item 1) rose by EUR 2.9 billion to EUR 536.2 billion. Liabilities to general government (liability item 5.1) increased by EUR 1.4 billion to EUR 57.6 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) increased by EUR 5.5 billion to EUR 391.4 billion. On Wednesday, 26 October 2005, a main refinancing operation of EUR 296 billion matured and a new one of EUR 301.5 billion was settled. On Friday, 28 October 2005, a longer-term refinancing operation of EUR 30 billion matured and a new one of EUR 30 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 (also 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) increased by EUR 0.9 billion to EUR 150.2 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 149,170 −398
2 Claims on non-euro area residents denominated in foreign currency 160,162 −1,133
2.1 Receivables from the IMF 19,254 −6
2.2 Balances with banks and security investments, external loans and other external assets 140,908 −1,127
3 Claims on euro area residents denominated in foreign currency 21,363 277
4 Claims on non-euro area residents denominated in euro 8,712 175
4.1 Balances with banks, security investments and loans 8,712 175
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 391,476 5,471
5.1 Main refinancing operations 301,466 5,466
5.2 Longer-term refinancing operations 90,002 3
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 7 2
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 3,257 −134
7 Securities of euro area residents denominated in euro 92,315 532
8 General government debt denominated in euro 40,757 4
9 Other assets 136,292 158
Total assets 1,003,504 4,952
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 536,209 2,942
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 150,290 929
2.1 Current accounts (covering the minimum reserve system) 150,193 919
2.2 Deposit facility 71 −11
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 26 21
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 65,261 1,588
5.1 General government 57,628 1,368
5.2 Other liabilities 7,633 220
6 Liabilities to non-euro area residents denominated in euro 11,182 233
7 Liabilities to euro area residents denominated in foreign currency 219 −3
8 Liabilities to non-euro area residents denominated in foreign currency 9,801 −639
8.1 Deposits, balances and other liabilities 9,801 −639
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 62,348 −99
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,407 1
Total liabilities 1,003,504 4,952

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