In the week ending 17 March 2006, the decrease of EUR 107 million in gold and gold receivables (asset item 1) reflected the selling 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 0.1 billion to EUR 160.3 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) fell by EUR 0.8 billion to EUR 93.8 billion. Banknotes in circulation (liability item 1) decreased by EUR 0.7 billion to EUR 554.7 billion. Liabilities to general government (liability item 5.1) fell by EUR 7.9 billion to EUR 44.2 billion.
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 7.4 billion to EUR 400.6 billion. On Wednesday, 15 March 2006, a main refinancing operation of EUR 298 billion matured and a new one of EUR 290.5 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.
As a result of all transactions, the current account position of credit institutions with the Eurosystem (liability item 2.1) increased by EUR 0.5 billion to EUR 160.2 billion.
Reproduction is permitted provided that the source is acknowledged.