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Consolidated financial statement of the Eurosystem as at 17 March 2006

21 March 2006

Items not related to monetary policy operations

In the week ending 17 March 2006, the decrease of EUR 107 million in gold and gold receivables (asset item 1) reflected the selling 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) decreased by EUR 0.1 billion to EUR 160.3 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) fell by EUR 0.8 billion to EUR 93.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 554.7 billion. Liabilities to general government (liability item 5.1) fell by EUR 7.9 billion to EUR 44.2 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 7.4 billion to EUR 400.6 billion. On Wednesday, 15 March 2006, a main refinancing operation of EUR 298 billion matured and a new one of EUR 290.5 billion was settled.

Recourse to both the marginal lending facility (asset item 5.5) and the deposit facility (liability item 2.2) was virtually nil, which was approximately the same as 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 0.5 billion to EUR 160.2 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 163,182 −107
2 Claims on non-euro area residents denominated in foreign currency 150,140 −1,469
2.1 Receivables from the IMF 12,504 −5
2.2 Balances with banks and security investments, external loans and other external assets 137,636 −1,464
3 Claims on euro area residents denominated in foreign currency 25,827 498
4 Claims on non-euro area residents denominated in euro 11,942 776
4.1 Balances with banks, security investments and loans 11,942 776
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 400,566 −7,461
5.1 Main refinancing operations 290,501 −7,499
5.2 Longer-term refinancing operations 110,018 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 47 38
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 5,113 778
7 Securities of euro area residents denominated in euro 93,830 −762
8 General government debt denominated in euro 40,587 0
9 Other assets 152,811 −511
Total assets 1,043,998 −8,258
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 554,745 −735
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 160,253 524
2.1 Current accounts (covering the minimum reserve system) 160,241 545
2.2 Deposit facility 12 −20
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 −1
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 52,036 −7,914
5.1 General government 44,206 −7,907
5.2 Other liabilities 7,830 −7
6 Liabilities to non-euro area residents denominated in euro 13,665 434
7 Liabilities to euro area residents denominated in foreign currency 157 −100
8 Liabilities to non-euro area residents denominated in foreign currency 9,578 −728
8.1 Deposits, balances and other liabilities 9,578 −728
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 66,307 174
11 Revaluation accounts 119,113 0
12 Capital and reserves 62,066 87
Total liabilities 1,043,998 −8,258
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