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Consolidated financial statement of the Eurosystem as at 17 February 2006

21 February 2006

Items not related to monetary policy operations

In the week ending 17 February 2006, the decrease of EUR 104 million in gold and gold receivables (asset item 1) reflected the selling of gold by one Eurosystem central bank (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 0.2 billion to EUR 161.3 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 2 billion to EUR 94.3 billion. Banknotes in circulation (liability item 1) fell by EUR 0.9 billion to EUR 549.4 billion. Liabilities to general government (liability item 5.1) increased by EUR 5.9 billion to EUR 48 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) increased by EUR 1.7 billion to EUR 395.2 billion. On Wednesday, 15 February 2006, a main refinancing operation of EUR 293.5 billion matured and a new one of EUR 295 billion was settled.

Recourse to the marginal lending facility (asset item 5.5) was EUR 0.2 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) remained virtually unchanged at close to zero.

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 2.9 billion to EUR 156.6 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 163,564 −104
2 Claims on non-euro area residents denominated in foreign currency 154,161 −277
2.1 Receivables from the IMF 12,541 6
2.2 Balances with banks and security investments, external loans and other external assets 141,620 −283
3 Claims on euro area residents denominated in foreign currency 23,157 71
4 Claims on non-euro area residents denominated in euro 10,902 1,705
4.1 Balances with banks, security investments and loans 10,902 1,705
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 395,208 1,692
5.1 Main refinancing operations 295,001 1,502
5.2 Longer-term refinancing operations 100,017 0
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 188 188
5.6 Credits related to margin calls 2 2
6 Other claims on euro area credit institutions denominated in euro 4,020 157
7 Securities of euro area residents denominated in euro 94,335 −2,020
8 General government debt denominated in euro 40,597 0
9 Other assets 153,389 2,733
Total assets 1,039,333 3,957
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 549,355 −937
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 156,602 −2,932
2.1 Current accounts (covering the minimum reserve system) 156,586 −2,922
2.2 Deposit facility 13 −12
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 3 2
3 Other liabilities to euro area credit institutions denominated in euro 158 0
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 55,539 6,045
5.1 General government 48,034 5,936
5.2 Other liabilities 7,505 109
6 Liabilities to non-euro area residents denominated in euro 12,643 80
7 Liabilities to euro area residents denominated in foreign currency 228 2
8 Liabilities to non-euro area residents denominated in foreign currency 9,913 −378
8.1 Deposits, balances and other liabilities 9,913 −378
8.2 Liabilities arising from the credit facility under ERM II 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,920 0
10 Other liabilities 67,913 −524
11 Revaluation accounts 119,113 0
12 Capital and reserves 61,949 2,601
Total liabilities 1,039,333 3,957
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