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Consolidated financial statement of the Eurosystem as at 20 October 2006

24 October 2006

Items not related to monetary policy operations

In the week ending 20 October 2006, the decrease of EUR 112 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 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) decreased by EUR 0.7 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) decreased by EUR 0.4 billion to EUR 81 billion. Banknotes in circulation (liability item 1) fell by EUR 1.9 billion to EUR 591 billion. Liabilities to general government (liability item 5.1) increased by EUR 9.8 billion to EUR 66.9 billion.

Moreover, it should be noted with respect to the Consolidated weekly financial statement of the Eurosystem as at 13 October 2006 (published on 17 October 2006) that Other claims on euro area credit institutions denominated in euro (asset item 6) should have shown a balance of EUR 10,059 million, instead of EUR 9,059 million, and that Other assets (asset item 9) should have read EUR 200,088 million, instead of EUR 201,088 million.

These adjusted figures have been taken into account under “Difference compared with last week due to transactions” in the Consolidated weekly financial statement as at 20 October 2006.

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) increased by EUR 10.5 billion to EUR 438.5 billion. On Wednesday, 18 October 2006, a main refinancing operation of EUR 308 billion matured and a new one of EUR 318.5 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 2.2 billion to EUR 168.2 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 175,206 −112
2 Claims on non-euro area residents denominated in foreign currency 142,008 415
2.1 Receivables from the IMF 11,254 −593
2.2 Balances with banks and security investments, external loans and other external assets 130,754 1,008
3 Claims on euro area residents denominated in foreign currency 22,958 −807
4 Claims on non-euro area residents denominated in euro 10,793 868
4.1 Balances with banks, security investments and loans 10,793 868
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 438,503 10,498
5.1 Main refinancing operations 318,500 10,498
5.2 Longer-term refinancing operations 120,001 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 −2
5.6 Credits related to margin calls 2 2
6 Other claims on euro area credit institutions denominated in euro 8,907 −1,152
7 Securities of euro area residents denominated in euro 80,953 −438
8 General government debt denominated in euro 40,022 0
9 Other assets 201,931 1,843
Total assets 1,121,281 11,115
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 591,005 −1,909
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 168,199 2,206
2.1 Current accounts (covering the minimum reserve system) 168,188 2,230
2.2 Deposit facility 10 −25
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 1
3 Other liabilities to euro area credit institutions denominated in euro 121 −1
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 75,338 10,312
5.1 General government 66,897 9,800
5.2 Other liabilities 8,441 512
6 Liabilities to non-euro area residents denominated in euro 15,921 −161
7 Liabilities to euro area residents denominated in foreign currency 99 2
8 Liabilities to non-euro area residents denominated in foreign currency 7,142 299
8.1 Deposits, balances and other liabilities 7,142 299
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,701 0
10 Other liabilities 69,458 366
11 Revaluation accounts 123,721 0
12 Capital and reserves 64,576 1
Total liabilities 1,121,281 11,115
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