Consolidated financial statement of the Eurosystem as at 27 January 2006

31 January 2006

Items not related to monetary policy operations

In the week ending 27 January 2006, the decrease of EUR 18 million in gold and gold receivables (asset item 1) reflected the selling 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 0.6 billion to EUR 161.6 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) increased by EUR 1.5 billion to EUR 95.2 billion. Banknotes in circulation (liability item 1) decreased by EUR 2.7 billion to EUR 546.7 billion. Liabilities to general government (liability item 5.1) rose by EUR 4.2 billion to EUR 64.6 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 1.9 billion to EUR 415.9 billion. On Wednesday, 25 January 2006, a main refinancing operation of EUR 324 billion matured and a new one of EUR 316 billion was settled.

On Thursday, 26 January 2006, a longer-term refinancing operation of EUR 30 billion matured and a new one of EUR 40 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the preceding 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 billion to EUR 159.9 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 163,779 −18
2 Claims on non-euro area residents denominated in foreign currency 155,424 −1,278
2.1 Receivables from the IMF 13,228 −81
2.2 Balances with banks and security investments, external loans and other external assets 142,196 −1,197
3 Claims on euro area residents denominated in foreign currency 23,096 189
4 Claims on non-euro area residents denominated in euro 9,086 −361
4.1 Balances with banks, security investments and loans 9,086 −361
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 416,036 1,931
5.1 Main refinancing operations 316,000 −8,000
5.2 Longer-term refinancing operations 100,017 10,000
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 19 −54
5.6 Credits related to margin calls 0 −15
6 Other claims on euro area credit institutions denominated in euro 4,041 161
7 Securities of euro area residents denominated in euro 95,225 1,476
8 General government debt denominated in euro 40,113 0
9 Other assets 148,386 1,906
Total assets 1,055,186 4,006
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 546,654 −2,723
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 159,972 4,030
2.1 Current accounts (covering the minimum reserve system) 159,882 3,956
2.2 Deposit facility 79 74
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 11 0
3 Other liabilities to euro area credit institutions denominated in euro 155 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 72,067 3,960
5.1 General government 64,588 4,243
5.2 Other liabilities 7,479 −283
6 Liabilities to non-euro area residents denominated in euro 12,837 150
7 Liabilities to euro area residents denominated in foreign currency 299 9
8 Liabilities to non-euro area residents denominated in foreign currency 10,666 −1,669
8.1 Deposits, balances and other liabilities 10,666 −1,669
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,922 2
10 Other liabilities 68,151 231
11 Revaluation accounts 119,113 0
12 Capital and reserves 59,350 16
Total liabilities 1,055,186 4,006

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