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Consolidated financial statement of the Eurosystem as at 24 February 2006

28 February 2006

Items not related to monetary policy operations

In the week ending 24 February 2006, the decrease of EUR 75 million in gold and gold receivables (asset item 1) reflected both the selling of gold by two Eurosystem central banks (consistent with the Central Bank Gold Agreement of 27 September 2004) and the purchase of gold coins by another Eurosystem central bank.

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 161.5 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 0.3 billion to EUR 94 billion. Banknotes in circulation (liability item 1) increased by EUR 0.9 billion to EUR 550.2 billion. Liabilities to general government (liability item 5.1) rose by EUR 19 billion to EUR 67 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 22.6 billion to EUR 417.8 billion. On Wednesday, 22 February 2006, a main refinancing operation of EUR 295 billion matured and a new one of EUR 308 billion was settled. On Thursday, 23 February 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 EUR 0.4 billion (compared with EUR 0.2 billion the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.6 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 2.6 billion to EUR 159.2 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 163,489 −75
2 Claims on non-euro area residents denominated in foreign currency 155,251 1,090
2.1 Receivables from the IMF 12,513 −28
2.2 Balances with banks and security investments, external loans and other external assets 142,738 1,118
3 Claims on euro area residents denominated in foreign currency 22,572 −585
4 Claims on non-euro area residents denominated in euro 11,422 520
4.1 Balances with banks, security investments and loans 11,422 520
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 418,436 23,228
5.1 Main refinancing operations 308,001 13,000
5.2 Longer-term refinancing operations 110,018 10,001
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 417 229
5.6 Credits related to margin calls 0 −2
6 Other claims on euro area credit institutions denominated in euro 3,914 −106
7 Securities of euro area residents denominated in euro 94,039 −296
8 General government debt denominated in euro 40,598 1
9 Other assets 153,011 −378
Total assets 1,062,732 23,399
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 550,206 851
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 159,766 3,164
2.1 Current accounts (covering the minimum reserve system) 159,151 2,565
2.2 Deposit facility 615 602
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −3
3 Other liabilities to euro area credit institutions denominated in euro 158 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 74,476 18,937
5.1 General government 67,032 18,998
5.2 Other liabilities 7,444 −61
6 Liabilities to non-euro area residents denominated in euro 13,162 519
7 Liabilities to euro area residents denominated in foreign currency 228 0
8 Liabilities to non-euro area residents denominated in foreign currency 10,190 277
8.1 Deposits, balances and other liabilities 10,190 277
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,920 0
10 Other liabilities 67,535 −378
11 Revaluation accounts 119,113 0
12 Capital and reserves 61,978 29
Total liabilities 1,062,732 23,399

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