Consolidated financial statement of the Eurosystem as at 27 October 2006

Items not related to monetary policy operations

In the week ending 27 October 2006, the decrease of EUR 65 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) and a 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) remained virtually unchanged at EUR 152 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 0.1 billion to EUR 80.9 billion. Banknotes in circulation (liability item 1) rose by EUR 1 billion to EUR 592 billion. Liabilities to general government (liability item 5.1) decreased by EUR 1.6 billion to EUR 65.3 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 4.6 billion to EUR 433.9 billion. On Wednesday, 25 October 2006, a main refinancing operation of EUR 318.5 billion matured and a new one of EUR 314 billion was settled. On Thursday, 26 October 2006, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 40 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) decreased by EUR 2.8 billion to EUR 165.4 billion.