Consolidated financial statement of the Eurosystem as at 15 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.