European Central Bank - eurosystem
European Central Bank - eurosystem
Search
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 29 September 2006

4 October 2006

Items not related to monetary policy operations

In the week ending 29 September 2006, the increase of EUR 1.1 billion in gold and gold receivables (asset item 1) mainly reflected quarterly revaluation adjustments, as well as 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 1.6 billion to EUR 152.9 billion. The increase 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 0.3 billion.

The holdings by the Eurosystem of marketable securities of euro area residents denominated in euro (asset item 7) decreased by EUR 1.5 billion to EUR 81.6 billion, with a decrease of EUR 1.8 billion due to transactions which more than offset an increase due to revaluations. Banknotes in circulation (liability item 1) increased by EUR 3.3 billion to EUR 589.2 billion. Liabilities to general government (liability item 5.1) rose by EUR 3.5 billion to EUR 66.4 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 1.3 billion to EUR 432.3 billion. On Wednesday, 27 September 2006, a main refinancing operation of EUR 311 billion matured and a new one of EUR 313 billion was settled. On Thursday, 28 September 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 0.5 billion (compared with virtually nil in the previous week), while recourse to the deposit facility (liability item 2.2) was EUR 1.3 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 5.1 billion to EUR 162 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 29 September 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 475.316 per fine oz.

USD: 1.2660 per EUR

JPY: 149.34 per EUR

Special drawing rights: EUR 1.1657 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 175,373 −37 1,164
2 Claims on non-euro area residents denominated in foreign currency 144,627 667 1,751
2.1 Receivables from the IMF 12,367 −39 21
2.2 Balances with banks and security investments, external loans and other external assets 132,260 706 1,730
3 Claims on euro area residents denominated in foreign currency 25,615 −1,614 191
4 Claims on non-euro area residents denominated in euro 10,740 −195 19
4.1 Balances with banks, security investments and loans 10,740 −195 19
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 433,514 2,514 0
5.1 Main refinancing operations 313,001 2,004 0
5.2 Longer-term refinancing operations 120,001 −1 0
5.3 Fine-tuning reverse operations 0 0 0
5.4 Structural reverse operations 0 0 0
5.5 Marginal lending facility 511 510 0
5.6 Credits related to margin calls 1 1 0
6 Other claims on euro area credit institutions denominated in euro 9,195 87 0
7 Securities of euro area residents denominated in euro 81,559 −1,836 328
8 General government debt denominated in euro 40,021 −2 −26
9 Other assets 197,671 2,411 363
Total assets 1,118,315 1,994 3,791
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 589,235 3,316 0
2 Liabilities to euro area credit institutions related to monetary policy operations denominated in euro 163,211 −3,857 0
2.1 Current accounts (covering the minimum reserve system) 161,959 −5,065 0
2.2 Deposit facility 1,251 1,219 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 1 −11 0
3 Other liabilities to euro area credit institutions denominated in euro 121 0 0
4 Debt certificates issued 0 0 0
5 Liabilities to other euro area residents denominated in euro 74,471 3,460 0
5.1 General government 66,410 3,453 0
5.2 Other liabilities 8,061 7 0
6 Liabilities to non-euro area residents denominated in euro 15,704 −1,161 0
7 Liabilities to euro area residents denominated in foreign currency 105 −17 1
8 Liabilities to non-euro area residents denominated in foreign currency 11,570 −621 39
8.1 Deposits, balances and other liabilities 11,570 −621 39
8.2 Liabilities arising from the credit facility under ERM II 0 0 0
9 Counterpart of special drawing rights allocated by the IMF 5,701 0 9
10 Other liabilities 69,903 875 2,005
11 Revaluation accounts 123,721 0 1,737
12 Capital and reserves 64,573 −1 0
Total liabilities 1,118,315 1,994 3,791
CONTACT

European Central Bank

Directorate General Communications

Reproduction is permitted provided that the source is acknowledged.

Media contacts