Consolidated financial statement of the Eurosystem as at 20 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.