Consolidated financial statement of the Eurosystem as at 4 November 2005

8 November 2005

Items not related to monetary policy operations

In the week ending 4 November 2005, the decrease of EUR 84 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) remained virtually unchanged at EUR 165.6 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.6 billion to EUR 92.9 billion. Banknotes in circulation (liability item 1) rose by EUR 3.5 billion to EUR 539.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 8.7 billion to EUR 48.9 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 7 billion to EUR 384.3 billion. On Thursday, 3 November 2005, a main refinancing operation of EUR 301.5 billion matured and a new one of EUR 294 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.5 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion, 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 1.3 billion to EUR 148.9 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 149,086 −84
2 Claims on non-euro area residents denominated in foreign currency 161,218 1,056
2.1 Receivables from the IMF 19,263 9
2.2 Balances with banks and security investments, external loans and other external assets 141,955 1,047
3 Claims on euro area residents denominated in foreign currency 20,803 −560
4 Claims on non-euro area residents denominated in euro 8,173 −539
4.1 Balances with banks, security investments and loans 8,173 −539
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 384,469 −7,007
5.1 Main refinancing operations 294,000 −7,466
5.2 Longer-term refinancing operations 90,002 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 466 459
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 2,824 −433
7 Securities of euro area residents denominated in euro 92,936 621
8 General government debt denominated in euro 40,757 0
9 Other assets 138,349 2,057
Total assets 998,615 −4,889
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 539,661 3,452
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 149,055 −1,235
2.1 Current accounts (covering the minimum reserve system) 148,920 −1,273
2.2 Deposit facility 127 56
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 8 −18
3 Other liabilities to euro area credit institutions denominated in euro 152 −1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 56,325 −8,936
5.1 General government 48,919 −8,709
5.2 Other liabilities 7,406 −227
6 Liabilities to non-euro area residents denominated in euro 11,352 170
7 Liabilities to euro area residents denominated in foreign currency 608 389
8 Liabilities to non-euro area residents denominated in foreign currency 9,907 106
8.1 Deposits, balances and other liabilities 9,907 106
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 63,513 1,165
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,408 1
Total liabilities 998,615 −4,889

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