Consolidated financial statement of the Eurosystem as at 9 December 2005

13 December 2005

Items not related to monetary policy operations

In the week ending 9 December 2005, the decrease of EUR 138 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 164.1billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) increased by EUR 0.7 billion to EUR 94.2 billion. Banknotes in circulation (liability item 1) rose by EUR 6.7 billion to EUR 554.6 billion. Liabilities to general government (liability item 5.1) increased by EUR 26 billion to EUR 68.9 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) increased by EUR 27.3 billion to EUR 423.5 billion. On Tuesday, 6 December 2005, a main refinancing operation of EUR 306.5 billion matured and a new one of EUR 333.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), and recourse to the deposit facility (liability item 2.2) was also virtually nil (compared with EUR 0.3 billion 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 4 billion to EUR 154 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 148,413 −138
2 Claims on non-euro area residents denominated in foreign currency 157,338 −321
2.1 Receivables from the IMF 19,038 19
2.2 Balances with banks and security investments, external loans and other external assets 138,300 −340
3 Claims on euro area residents denominated in foreign currency 21,526 117
4 Claims on non-euro area residents denominated in euro 8,992 −86
4.1 Balances with banks, security investments and loans 8,992 −86
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 423,505 26,993
5.1 Main refinancing operations 333,500 27,001
5.2 Longer-term refinancing operations 90,000 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 2 −3
5.6 Credits related to margin calls 3 −5
6 Other claims on euro area credit institutions denominated in euro 3,091 26
7 Securities of euro area residents denominated in euro 94,248 738
8 General government debt denominated in euro 40,764 6
9 Other assets 143,915 919
Total assets 1,041,792 28,254
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 554,602 6,705
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 154,079 −4,243
2.1 Current accounts (covering the minimum reserve system) 154,047 −3,951
2.2 Deposit facility 32 −292
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 270 28
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 76,547 25,744
5.1 General government 68,854 25,951
5.2 Other liabilities 7,693 −207
6 Liabilities to non-euro area residents denominated in euro 12,073 71
7 Liabilities to euro area residents denominated in foreign currency 417 −41
8 Liabilities to non-euro area residents denominated in foreign currency 8,479 −126
8.1 Deposits, balances and other liabilities 8,479 −126
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 67,268 112
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,423 4
Total liabilities 1,041,792 28,254

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