Consolidated financial statement of the Eurosystem as at 11 November 2005

15 November 2005

Items not related to monetary policy operations

In the week ending 11 November 2005, the decrease of EUR 52 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 1.5 billion to EUR 164.2 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 93.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 538.9 billion. Liabilities to general government (liability item 5.1) fell by EUR 2.6 billion to EUR 46.3 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 0.7 billion to EUR 385 billion. On Wednesday, 9 November 2005, a main refinancing operation of EUR 294 billion matured and a new one of EUR 295 billion was settled.

Recourse to both the marginal lending facility (asset item 5.5) and the deposit facility (liability item 2.2) was virtually nil (compared with EUR 0.5 billion and EUR 0.1 billion respectively in the previous 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 3.5 billion to EUR 152.4 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 149,034 −52
2 Claims on non-euro area residents denominated in foreign currency 159,176 −2,042
2.1 Receivables from the IMF 19,211 −52
2.2 Balances with banks and security investments, external loans and other external assets 139,965 −1,990
3 Claims on euro area residents denominated in foreign currency 20,076 −727
4 Claims on non-euro area residents denominated in euro 8,542 369
4.1 Balances with banks, security investments and loans 8,542 369
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 385,006 537
5.1 Main refinancing operations 295,000 1,000
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 3 −463
5.6 Credits related to margin calls 1 0
6 Other claims on euro area credit institutions denominated in euro 3,073 249
7 Securities of euro area residents denominated in euro 93,221 285
8 General government debt denominated in euro 40,757 0
9 Other assets 139,416 1,067
Total assets 998,301 −314
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 538,931 −730
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 152,455 3,400
2.1 Current accounts (covering the minimum reserve system) 152,441 3,521
2.2 Deposit facility 10 −117
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 4 −4
3 Other liabilities to euro area credit institutions denominated in euro 152 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 53,875 −2,450
5.1 General government 46,307 −2,612
5.2 Other liabilities 7,568 162
6 Liabilities to non-euro area residents denominated in euro 11,511 159
7 Liabilities to euro area residents denominated in foreign currency 318 −290
8 Liabilities to non-euro area residents denominated in foreign currency 8,891 −1,016
8.1 Deposits, balances and other liabilities 8,891 −1,016
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 64,123 610
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,411 3
Total liabilities 998,301 −314

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