In the week ending 24 November 2006, the decrease of EUR 106 million in gold and gold receivables (asset item 1) reflected the selling of gold by three 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) remained virtually unchanged at EUR 152.3 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 79 billion. Banknotes in circulation (liability item 1) fell by EUR 0.8 billion to EUR 593.7 billion. Liabilities to general government (liability item 5.1) increased by EUR 22.9 billion to EUR 70.6 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) increased by EUR 17.5 billion to EUR 441.5 billion. On Wednesday, 22 November 2006, a main refinancing operation of EUR 304 billion matured and a new one of EUR 321.5 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) decreased by EUR 4.8 billion to EUR 170.8 billion.
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