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Consolidated financial statement of the Eurosystem as at 22 December 2006

28 December 2006

Items not related to monetary policy operations

In the week ending 22 December 2006, the decrease of EUR 41 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) and a net purchase 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 0.6 billion to EUR 152.2 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 78 billion. Banknotes in circulation (liability item 1) increased by EUR 14.1 billion to EUR 628 billion. Liabilities to general government (liability item 5.1) decreased by EUR 12.1 billion to EUR 32.2 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 1.5 billion to EUR 441.5 billion. On Wednesday, 20 December 2006, a main refinancing operation of EUR 320 billion matured and a new one of EUR 321.5 billion was settled. On Thursday, 21 December 2006, a longer-term refinancing operation of EUR 40 billion matured and a new one of EUR 40 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 0.9 billion to EUR 177.2 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 174,015 −41
2 Claims on non-euro area residents denominated in foreign currency 146,966 3,388
2.1 Receivables from the IMF 10,987 −185
2.2 Balances with banks and security investments, external loans and other external assets 135,979 3,573
3 Claims on euro area residents denominated in foreign currency 22,865 −2,346
4 Claims on non-euro area residents denominated in euro 11,550 314
4.1 Balances with banks, security investments and loans 11,550 314
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 441,498 1,498
5.1 Main refinancing operations 321,498 1,497
5.2 Longer-term refinancing operations 120,000 1
5.3 Fine-tuning reverse operations 0 0
5.4 Structural reverse operations 0 0
5.5 Marginal lending facility 0 0
5.6 Credits related to margin calls 0 0
6 Other claims on euro area credit institutions denominated in euro 10,797 383
7 Securities of euro area residents denominated in euro 77,984 −402
8 General government debt denominated in euro 39,912 −15
9 Other assets 216,734 1,288
Total assets 1,142,321 4,067
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 628,011 14,121
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 177,226 947
2.1 Current accounts (covering the minimum reserve system) 177,196 937
2.2 Deposit facility 29 10
2.3 Fixed-term deposits 0 0
2.4 Fine-tuning reverse operations 0 0
2.5 Deposits related to margin calls 1 0
3 Other liabilities to euro area credit institutions denominated in euro 87 3
4 Debt certificates issued 0 0
5 Liabilities to other euro area residents denominated in euro 40,510 −13,433
5.1 General government 32,153 −12,118
5.2 Other liabilities 8,357 −1,315
6 Liabilities to non-euro area residents denominated in euro 16,948 786
7 Liabilities to euro area residents denominated in foreign currency 88 1
8 Liabilities to non-euro area residents denominated in foreign currency 11,856 1,632
8.1 Deposits, balances and other liabilities 11,856 1,632
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 73,561 −5
11 Revaluation accounts 123,721 0
12 Capital and reserves 64,612 15
Total liabilities 1,142,321 4,067
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