Search Options
Home Media Explainers Research & Publications Statistics Monetary Policy The €uro Payments & Markets Careers
Suggestions
Sort by

Consolidated financial statement of the Eurosystem as at 30 June 2006

5 July 2006

Items not related to monetary policy operations

In the week ending 30 June 2006, the decrease of EUR 3.9 billion in gold and gold receivables (asset item 1) mainly reflected quarterly revaluation adjustments, as well as sales of gold by two Eurosystem central banks (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) decreased by EUR 6.7 billion to EUR 153.3 billion. The decrease was due mainly to the effects of the quarterly revaluation of assets and liabilities, while customer and portfolio transactions carried out by Eurosystem central banks in the period under review resulted in a decrease of EUR 0.7 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 0.5 billion to EUR 91.6 billion, due to both transactions and revaluation adjustments. Banknotes in circulation (liability item 1) increased by EUR 4.9 billion to EUR 580.1 billion. Liabilities to general government (liability item 5.1) rose by EUR 10.9 billion to EUR 86.2 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 11.4 billion to EUR 447.4 billion. On Wednesday, 28 June 2006, a main refinancing operation of EUR 316 billion matured and a new one of EUR 328.5 billion was settled. On Thursday, 29 June 2006, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 40 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 1.2 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) decreased by EUR 5.2 billion to EUR 157.4 billion.

Quarter-end revaluation of the Eurosystem’s assets and liabilities

In line with the Eurosystem’s harmonised accounting rules, gold, foreign exchange, securities holdings and financial instruments of the Eurosystem are revalued at market rates and prices as at the end of each quarter. The net impact of the revaluation on each balance sheet item as at 30 June 2006 is shown in the additional column “Difference compared with last week due to revaluations”. The gold price and the principal exchange rates used for the revaluation of balances were as follows:

Gold: EUR 472.272 per fine oz.

USD: 1.2713 per EUR

JPY: 145.75 per EUR

Special drawing rights: EUR 1.1638 per SDR

Assets (EUR millions) Balance Difference compared with last week due to
i)transactions
ii)revaluations
Totals/sub-totals may not add up, due to rounding
i) ii)
1 Gold and gold receivables 175,541 −63 −3,818
2 Claims on non-euro area residents denominated in foreign currency 142,060 −1,928 −5,672
2.1 Receivables from the IMF 12,901 −831 −336
2.2 Balances with banks and security investments, external loans and other external assets 129,159 −1,097 −5,336
3 Claims on euro area residents denominated in foreign currency 25,727 319 −818
4 Claims on non-euro area residents denominated in euro 13,526 225 −13
4.1 Balances with banks, security investments and loans 13,526 225 −13
4.2 Claims arising from the credit facility under ERM II 0 0 0
5 Lending to euro area credit institutions related to monetary policy operations denominated in euro 448,556 12,556 0
5.1 Main refinancing operations 328,500 12,501 0
5.2 Longer-term refinancing operations 120,000 −1 0
5.3 Fine-tuning reverse operations 0 0 0
5.4 Structural reverse operations 0 0 0
5.5 Marginal lending facility 55 55 0
5.6 Credits related to margin calls 1 1 0
6 Other claims on euro area credit institutions denominated in euro 6,112 62 0
7 Securities of euro area residents denominated in euro 91,607 −230 −310
8 General government debt denominated in euro 40,048 −477 −26
9 Other assets 169,593 −944 1,389
Total assets 1,112,770 9,519 −9,267
Liabilities (EUR millions) Balance Difference compared with last week due to
i)transactions
ii)revaluations
Totals/sub-totals may not add up, due to rounding
i) ii)
1 Banknotes in circulation 580,132 4,947 0
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 158,523 −4,033 0
2.1 Current accounts (covering the minimum reserve system) 157,350 −5,150 0
2.2 Deposit facility 1,164 1,117 0
2.3 Fixed-term deposits 0 0 0
2.4 Fine-tuning reverse operations 0 0 0
2.5 Deposits related to margin calls 9 0 0
3 Other liabilities to euro area credit institutions denominated in euro 89 0 0
4 Debt certificates issued 0 0 0
5 Liabilities to other euro area residents denominated in euro 94,027 10,675 0
5.1 General government 86,176 10,912 0
5.2 Other liabilities 7,851 −237 0
6 Liabilities to non-euro area residents denominated in euro 14,548 30 0
7 Liabilities to euro area residents denominated in foreign currency 119 1 −9
8 Liabilities to non-euro area residents denominated in foreign currency 8,706 −930 −365
8.1 Deposits, balances and other liabilities 8,706 −930 −365
8.2 Liabilities arising from the credit facility under ERM II 0 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,692 0 −133
10 Other liabilities 66,168 −1,175 1,693
11 Revaluation accounts 121,984 0 −10,453
12 Capital and reserves 62,782 4 0
Total liabilities 1,112,770 9,519 −9,267
CONTACT

European Central Bank

Directorate General Communications

Reproduction is permitted provided that the source is acknowledged.

Media contacts