Consolidated financial statement of the Eurosystem as at 16 December 2005

20 December 2005

Items not related to monetary policy operations

In the week ending 16 December 2005, the decrease of EUR 115 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) increased by EUR 0.5 billion to EUR 164.6 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 93.9 billion. Banknotes in circulation (liability item 1) increased by EUR 4 billion to EUR 558.6 billion. Liabilities to general government (liability item 5.1) fell by EUR 34.3 billion to EUR 34.5 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 25.1 billion to EUR 398.4 billion. On Wednesday, 14 December 2005, a main refinancing operation of EUR 333.5 billion matured and a new one of EUR 308.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (approximately the same as in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (compared with virtually nil 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 4.2 billion to EUR 158.3 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 148,298 −115
2 Claims on non-euro area residents denominated in foreign currency 156,711 −627
2.1 Receivables from the IMF 19,580 542
2.2 Balances with banks and security investments, external loans and other external assets 137,131 −1,169
3 Claims on euro area residents denominated in foreign currency 22,606 1,080
4 Claims on non-euro area residents denominated in euro 9,456 464
4.1 Balances with banks, security investments and loans 9,456 464
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 398,516 −24,989
5.1 Main refinancing operations 308,500 −25,000
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 0 −2
5.6 Credits related to margin calls 16 13
6 Other claims on euro area credit institutions denominated in euro 3,203 112
7 Securities of euro area residents denominated in euro 93,859 −389
8 General government debt denominated in euro 40,662 −102
9 Other assets 143,632 −285
Total assets 1,016,943 −24,851
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 558,596 3,993
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 158,390 4,311
2.1 Current accounts (covering the minimum reserve system) 158,283 4,236
2.2 Deposit facility 107 75
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 219 −51
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 42,389 −34,158
5.1 General government 34,512 −34,342
5.2 Other liabilities 7,877 184
6 Liabilities to non-euro area residents denominated in euro 12,065 −8
7 Liabilities to euro area residents denominated in foreign currency 410 −7
8 Liabilities to non-euro area residents denominated in foreign currency 8,441 −38
8.1 Deposits, balances and other liabilities 8,441 −38
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 68,373 1,104
11 Revaluation accounts 103,749 0
12 Capital and reserves 58,426 3
Total liabilities 1,016,943 −24,851

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