Consolidated financial statement of the Eurosystem as at 2 December 2005

6 December 2005

Items not related to monetary policy operations

In the week ending 2 December 2005, the decrease of EUR 108 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 0.3 billion to EUR 164.1 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 0.9 billion to EUR 93.5 billion. Banknotes in circulation (liability item 1) rose by EUR 9.7 billion to EUR 547.9 billion. Liabilities to general government (liability item 5.1) decreased by EUR 19.7 billion to EUR 42.9 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 4.8 billion to EUR 396.2 billion. On Wednesday, 30 November 2005, a main refinancing operation of EUR 311 billion matured and a new one of EUR 306.5 billion was settled. On Thursday, 1 December 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 preceding week), while recourse to the deposit facility (liability item 2.2) was EUR 0.3 billion (compared with EUR 0.1 billion 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 4.5 billion to EUR 158 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 148,551 −108
2 Claims on non-euro area residents denominated in foreign currency 157,659 −2,048
2.1 Receivables from the IMF 19,019 −56
2.2 Balances with banks and security investments, external loans and other external assets 138,640 −1,992
3 Claims on euro area residents denominated in foreign currency 21,409 1,175
4 Claims on non-euro area residents denominated in euro 9,078 −21
4.1 Balances with banks, security investments and loans 9,078 −21
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 396,512 −4,536
5.1 Main refinancing operations 306,499 −4,501
5.2 Longer-term refinancing operations 90,000 −2
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 5 4
5.6 Credits related to margin calls 8 −37
6 Other claims on euro area credit institutions denominated in euro 3,065 −395
7 Securities of euro area residents denominated in euro 93,510 888
8 General government debt denominated in euro 40,758 0
9 Other assets 142,996 1,344
Total assets 1,013,538 −3,701
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 547,897 9,718
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 158,322 4,791
2.1 Current accounts (covering the minimum reserve system) 157,998 4,531
2.2 Deposit facility 324 261
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −1
3 Other liabilities to euro area credit institutions denominated in euro 242 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 50,803 −19,361
5.1 General government 42,903 −19,670
5.2 Other liabilities 7,900 309
6 Liabilities to non-euro area residents denominated in euro 12,002 619
7 Liabilities to euro area residents denominated in foreign currency 458 143
8 Liabilities to non-euro area residents denominated in foreign currency 8,605 −712
8.1 Deposits, balances and other liabilities 8,605 −712
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 67,156 1,099
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,419 2
Total liabilities 1,013,538 −3,701

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