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Consolidated financial statement of the Eurosystem as at 11 August 2006

15 August 2006

Items not related to monetary policy operations

In the week ending 11 August 2006, the decrease of EUR 32 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) increased by EUR 0.1 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 unchanged at EUR 85.8 billion. Banknotes in circulation (liability item 1) increased by EUR 0.3 billion to EUR 594.2 billion. Liabilities to general government (liability item 5.1) decreased by EUR 3.6 billion to EUR 58.7 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) fell by EUR 5.8 billion to EUR 438.1 billion. On Wednesday, 9 August 2006, a main refinancing operation of EUR 324 billion matured and a new one of EUR 318 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 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) decreased by EUR 0.4 billion to EUR 167.4 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 175,099 −32
2 Claims on non-euro area residents denominated in foreign currency 142,617 1,519
2.1 Receivables from the IMF 12,778 −102
2.2 Balances with banks and security investments, external loans and other external assets 129,839 1,621
3 Claims on euro area residents denominated in foreign currency 25,518 −223
4 Claims on non-euro area residents denominated in euro 13,138 −523
4.1 Balances with banks, security investments and loans 13,138 −523
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 438,150 −5,857
5.1 Main refinancing operations 318,000 −5,999
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 148 148
5.6 Credits related to margin calls 0 −6
6 Other claims on euro area credit institutions denominated in euro 6,588 264
7 Securities of euro area residents denominated in euro 85,846 −17
8 General government debt denominated in euro 40,050 0
9 Other assets 185,696 2,944
Total assets 1,112,702 −1,925
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 594,160 295
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 167,427 −436
2.1 Current accounts (covering the minimum reserve system) 167,421 −397
2.2 Deposit facility 6 −39
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 0 0
3 Other liabilities to euro area credit institutions denominated in euro 100 −1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 66,783 −3,617
5.1 General government 58,728 −3,612
5.2 Other liabilities 8,055 −5
6 Liabilities to non-euro area residents denominated in euro 15,707 380
7 Liabilities to euro area residents denominated in foreign currency 112 2
8 Liabilities to non-euro area residents denominated in foreign currency 10,314 1,183
8.1 Deposits, balances and other liabilities 10,314 1,183
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 67,514 268
11 Revaluation accounts 121,984 0
12 Capital and reserves 62,909 1
Total liabilities 1,112,702 −1,925
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