Consolidated financial statement of the Eurosystem as at 2 June 2006

Items not related to monetary policy operations

In the week ending 2 June 2006, the decrease of EUR 12 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 the 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) increased by EUR 0.1 billion to EUR 157.5 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 0.3 billion to EUR 93.3 billion. Banknotes in circulation (liability item 1) rose by EUR 5.6 billion to EUR 575.9 billion. Liabilities to general government (liability item 5.1) fell by EUR 4.6 billion to EUR 47.8 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) decreased by EUR 1 billion to EUR 410.5 billion. On Wednesday, 31 May 2006, a main refinancing operation of EUR 291.5 billion matured and a new one of EUR 290.5 billion was settled. On Thursday, 1 June 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) decreased by EUR 2.1 billion to EUR 160.4 billion.