Central Bank of Ireland Presents Money and Banking Statistics for September
Household deposits increased by €258 million in September. Over the 12 months to end- September 2015 household deposits increased by €2 billion, or 2.2 per cent. Net lending to households was also positive on a monthly basis, although it remained negative on an annual basis.
Loans and other credit
- Irish household new loan drawdowns exceeded repayments by €78 million, representing the first increase in lending since December 2014. This increase was driven by loans in for house-purchases, which offset declines in lending for other purposes.
- On an annual basis, net lending to households continued to fall, decreasing by 2.7 per cent in September 2015.
- In terms of loans for house purchase, repayments exceeded drawdowns by almost €2 billion over the 12 months to end-September 2015, while non-housing loans also saw net repayments of €649 million over the same period.
- Irish private-sector deposits declined by €2 billion in September, arising from outflows in overnight deposits from the NFC and OFI sectors.
- Irish NFC loan repayments exceeded drawdowns by €397 million in September 2015. The stock of medium-term loans increased by €197 million over the month; this was offset by developments within short-term and long-term NFC loans which showed decreases of €455 million and €140 million, respectively.
- On an annual basis, net lending to NFCs declined by 6.2 per cent in September 2015. This resulted from annual declines in short and long term loans In contrast, medium term loans (i.e. loans between 1 and 5 years maturity) continued to grow strongly, increasing by 12.9 per cent in the year to September 2015.
- Credit institutions’ holdings of debt and equity securities issued by the Irish private-sector decreased by €1.9 billion during September 2015, following a decrease of €218 million in August. A decrease of €1.9 billion in holdings of debt securities issued by the OFI sector was the predominant reason for the fall in September. The annual rate of decline in credit institutions’ holdings of debt and equity securities issued by the Irish private sector was 14.6 per cent at end-September.
Deposits and other funding
- The outstanding stock of Irish private-sector deposits totalled €174 billion at end-September 2015. Of this, 54 per cent represented household deposits, with NFC, OFI and ICPF deposits accounting for 25 per cent, 16 per cent and 5 per cent, respectively. Irish private-sector deposits decreased by €2 billion over the month, which was driven by outflows in overnight deposits from the NFC and OFI sectors of €1 billion and €1.1 billion, respectively.
- Household deposits increased by €258 million in September. Over the 12 months to end- September 2015 household deposits increased by €2 billion, or 2.2 per cent. This increase was attributable to a 13.2 per cent increase in overnight deposits, while deposits with agreed maturities continued to decline annually.
- NFC deposits decreased by €931 million in September. This decline was driven by developments in the overnight deposit category which saw a fall of €1 billion, marking the largest decline within this category since February 2015. Net inflows of NFC deposits for the 12 months to end- September amounted to €5.9 billion. This resulted in an annual growth rate of 16 per cent, predominantly reflecting inflows into overnight deposits.
- OFI deposits decreased by €1.2 billion in September. The annual rate of change in OFI deposits was minus 19.4 per cent in September 2015 ? the 19th consecutive month of annual decline.
- Deposits from ICPFs declined in September by €169 million, following a decrease of €237 in August. On an annual basis, deposits from ICPFs fell by 3.7 per cent. This change was driven by developments in the agreed maturity categories of ICPF deposits which have shown a net outflow of €884 million over the past twelve months.
- Credit institutions’ borrowings from the Central Bank as part of Eurosystem monetary policy operations increased by €130 million in September 2015. The outstanding stock of Central Bank borrowings was €10.2 billion at end- September, of which the domestic market group of credit institutions accounted for €8.9 billion.
Money and Banking Statistics currently include an aggregate balance sheet for the entire population of resident credit institutions, reported in Table A.4. Please note that the composition of the subsets of the population reported in Tables A.4.1 and A.4.2 have been updated as follows:
A.4.1 – Domestic Market Group: Institutions whose ultimate parent entity is resident in Ireland (including credit unions), or which have a significant (>20 per cent) level of business with Irish households and non-financial corporations in terms of their overall resident business activity.
A.4.2 – Irish-Headquartered Group: Institutions whose ultimate parent entity is resident in Ireland. This includes all credit unions.
A full list of Credit Institutions resident in the Republic of Ireland, as well as the subset of domestic market credit institutions is available on the Central Bank of Ireland website referred to above.