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Consolidated financial statement of the Eurosystem as at 5 May 2006

9 May 2006

Items not related to monetary policy operations

In the week ending 5 May 2006, the decrease of EUR 916 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) and a sale 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 0.9 billion to EUR 157.2 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 0.2 billion to EUR 94 billion. Banknotes in circulation (liability item 1) rose by EUR 3.9 billion to EUR 572.7 billion. Liabilities to general government (liability item 5.1) decreased by EUR 14.8 billion to EUR 44.1 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 4.5 billion to EUR 405.9 billion. On Thursday, 4 May 2006, a main refinancing operation of EUR 291 billion matured and a new one of EUR 286 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was virtually nil (compared with EUR 0.1 billion in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.1 billion (compared with EUR 0.6 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) increased by EUR 6.6 billion to EUR 160.5 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 179,609 −916
2 Claims on non-euro area residents denominated in foreign currency 149,519 3,486
2.1 Receivables from the IMF 11,661 −419
2.2 Balances with banks and security investments, external loans and other external assets 137,858 3,905
3 Claims on euro area residents denominated in foreign currency 25,225 842
4 Claims on non-euro area residents denominated in euro 12,417 −547
4.1 Balances with banks, security investments and loans 12,417 −547
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 406,008 −5,067
5.1 Main refinancing operations 286,000 −5,000
5.2 Longer-term refinancing operations 120,002 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 6 −67
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 6,059 403
7 Securities of euro area residents denominated in euro 93,978 151
8 General government debt denominated in euro 40,568 0
9 Other assets 165,881 523
Total assets 1,079,264 −1,125
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 572,696 3,866
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 160,537 6,006
2.1 Current accounts (covering the minimum reserve system) 160,474 6,561
2.2 Deposit facility 55 −563
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 8 8
3 Other liabilities to euro area credit institutions denominated in euro 114 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 51,618 −14,609
5.1 General government 44,073 −14,759
5.2 Other liabilities 7,545 150
6 Liabilities to non-euro area residents denominated in euro 14,332 263
7 Liabilities to euro area residents denominated in foreign currency 233 81
8 Liabilities to non-euro area residents denominated in foreign currency 11,444 3,311
8.1 Deposits, balances and other liabilities 11,444 3,311
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,825 0
10 Other liabilities 67,968 −103
11 Revaluation accounts 132,437 0
12 Capital and reserves 62,060 60
Total liabilities 1,079,264 −1,125
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