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Consolidated financial statement of the Eurosystem as at 15 September 2006

19 September 2006

Items not related to monetary policy operations

In the week ending 15 September 2006, the decrease of EUR 499 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 the issue of commemorative 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) decreased by EUR 0.2 billion to EUR 152 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) remained virtually the same at EUR 83.9 billion. Banknotes in circulation (liability item 1) decreased by EUR 1.4 billion to EUR 587.9 billion. Liabilities to general government (liability item 5.1) fell by EUR 7.2 billion to EUR 50.7 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 6.9 billion to EUR 420.1 billion. On Wednesday, 13 September 2006, a main refinancing operation of EUR 307 billion matured and a new one of EUR 300.5 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.1 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 0.5 billion (also 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 2.4 billion to EUR 167.5 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 174,418 −499
2 Claims on non-euro area residents denominated in foreign currency 143,415 1,011
2.1 Receivables from the IMF 12,488 −149
2.2 Balances with banks and security investments, external loans and other external assets 130,927 1,160
3 Claims on euro area residents denominated in foreign currency 26,789 523
4 Claims on non-euro area residents denominated in euro 10,711 −1,164
4.1 Balances with banks, security investments and loans 10,711 −1,164
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 420,603 −6,398
5.1 Main refinancing operations 300,499 −6,500
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 102 102
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 9,306 929
7 Securities of euro area residents denominated in euro 83,861 −24
8 General government debt denominated in euro 40,049 0
9 Other assets 193,001 2,377
Total assets 1,102,153 −3,245
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 587,883 −1,364
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 168,026 2,881
2.1 Current accounts (covering the minimum reserve system) 167,498 2,371
2.2 Deposit facility 527 513
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 −3
3 Other liabilities to euro area credit institutions denominated in euro 121 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 58,636 −7,173
5.1 General government 50,617 −7,256
5.2 Other liabilities 8,019 83
6 Liabilities to non-euro area residents denominated in euro 15,671 −386
7 Liabilities to euro area residents denominated in foreign currency 143 15
8 Liabilities to non-euro area residents denominated in foreign currency 12,417 1,736
8.1 Deposits, balances and other liabilities 12,417 1,736
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,692 0
10 Other liabilities 67,007 881
11 Revaluation accounts 121,984 0
12 Capital and reserves 64,573 165
Total liabilities 1,102,153 −3,245
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