Consolidated financial statement of the Eurosystem as at 18 November 2005

22 November 2005

Items not related to monetary policy operations

In the week ending 18 November 2005, the decrease of EUR 226 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) increased by EUR 0.2 billion to EUR 164.4 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) decreased by EUR 0.4 billion to EUR 92.8 billion. Banknotes in circulation (liability item 1) fell by EUR 1.3 billion to EUR 537.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 5.8 billion to EUR 40.5 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 1.5 billion to EUR 383.5 billion. On Wednesday, 16 November 2005, a main refinancing operation of EUR 295 billion matured and a new one of EUR 293.5 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, 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) increased by EUR 5.8 billion to EUR 158.2 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 148,808 −226
2 Claims on non-euro area residents denominated in foreign currency 159,790 614
2.1 Receivables from the IMF 19,209 −2
2.2 Balances with banks and security investments, external loans and other external assets 140,581 616
3 Claims on euro area residents denominated in foreign currency 20,098 22
4 Claims on non-euro area residents denominated in euro 9,245 703
4.1 Balances with banks, security investments and loans 9,245 703
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 383,504 −1,502
5.1 Main refinancing operations 293,500 −1,500
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 0 −3
5.6 Credits related to margin calls 2 1
6 Other claims on euro area credit institutions denominated in euro 3,653 580
7 Securities of euro area residents denominated in euro 92,811 −410
8 General government debt denominated in euro 40,758 1
9 Other assets 140,482 1,066
Total assets 999,149 848
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 537,651 −1,280
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 158,213 5,758
2.1 Current accounts (covering the minimum reserve system) 158,202 5,761
2.2 Deposit facility 11 1
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −4
3 Other liabilities to euro area credit institutions denominated in euro 203 51
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 48,169 −5,706
5.1 General government 40,509 −5,798
5.2 Other liabilities 7,660 92
6 Liabilities to non-euro area residents denominated in euro 11,319 −192
7 Liabilities to euro area residents denominated in foreign currency 300 −18
8 Liabilities to non-euro area residents denominated in foreign currency 9,306 415
8.1 Deposits, balances and other liabilities 9,306 415
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 65,939 1,816
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,415 4
Total liabilities 999,149 848

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