Money and Banking Statistics: January 2013 

Information release 28 February 2013

The Central Bank of Ireland today published January 2013 Money and Banking Statistics [1]

The related data tables are available in the statistics area of the Central Bank website.

Loans and other credit

  • Loans to Irish households decreased at a rate of 4 per cent in the year ending January 2013, following a decrease of 3.9 per cent in December 2012. Lending for house purchase was 1.8 per cent lower on an annual basis at end-January, while lending for consumption and other purposes decreased by 10 per cent over the same period.
  • Lending to households declined by €816 million during the month of January, following a net monthly decrease of €372 million during December. The change during January was mainly driven by decreases of €405 million and €344 million in housing and consumption related loans respectively. Meanwhile, loans for non-housing and non-consumption purposes were €68 million lower over the month.
  • The monthly net flow of loans to households averaged minus €484 million in the three months ending January 2013, comprising minus €135 million in loans for house purchase, minus €205 million in loans for consumption purposes, and minus €144 million in lending for other purposes.
  • Lending to Irish resident non-financial corporations (NFCs) declined by 3.3 per cent in the year ending January 2013, following a decrease of 3.6 per cent in December.
  • During January 2013 loans to NFCs fell by €214 million. The monthly net flow of loans to NFCs averaged minus €104 million in the three months ending January 2013, compared with an average of minus €184 million in the three-month period up to end-December 2012.
  • The developments in outstanding loans to NFCs during January 2013 were driven mainly by a decrease of almost €1.2 billion in loans with an original maturity over one and up to five years. Short-term loans with an original maturity of up to one year, which include the use of overdraft facilities, rose by €372 million during the month, while longer-term NFC loans, with an original maturity over five years, rose by €583 million.
  • On an annual basis, NFC loans with an original maturity over five years increased by 2.3 per cent over the year ending January 2013. Short-term loans to NFCs rose by 2.7 per cent in the year, while medium-term loans declined by 16.2 per cent over the same period.
  • Credit institutions’ holdings of debt and equity securities issued by the Irish private sector declined by €295 million during the month of January 2013, following a decline of €8.1 billion for December 2012. The annual rate of change for the year ending January 2013 was minus 16.9 per cent. The modest fall in holdings of private-sector securities over this period reflects developments in holdings of debt securities issued by other financial intermediaries (OFIs), which fell by €274 million in January 2013.

Deposits and other funding

  • Irish resident private-sector deposits rose at an annual rate of 3.7 per cent in January 2013, following a 2.5 per cent increase in the year ending December 2012. Deposits from households were 1.2 per cent higher on an annual basis at end-January 2013, while deposits from insurance corporations and pension funds (ICPFs) and OFIs increased by 8.2 per cent. Deposits from NFCs rose by 5.2 per cent over the same period.
  • There was a month-on-month increase of almost €1.4 billion in Irish resident private-sector deposits during January 2013, reflecting increases across all four of the depositor sectors.  Household and NFC deposits increased by €33 million and €120 million, respectively, while deposits from OFIs and ICPFs increased by €400 million and €815 million, respectively.
  • Private-sector overnight deposits rose by €27 million during January 2013, mainly driven by developments in the OFI sector, where overnight deposits increased by €100 million. Overnight deposits from NFCs also rose during January, by €69 million. Meanwhile, overnight deposits from households and ICPFs fell during the month by €58 million and  €84 million, respectively.
  • Deposits with agreed maturity up to two years rose by €1.4 billion in January 2013; compared with a fall of €173 million for December 2012. The substantial increase in this category was reflected across all four depositor sectors. The most pronounced increase was recorded in the ICPF sector, where deposits with agreed maturity up to two years rose by €983 million in January 2013. OFI, household and NFC deposits in this category showed more moderate increases of €195 million, €191 million and €78 million, respectively.
  • Longer-term savings products covering deposits with agreed maturity over two years decreased by €82 million during the month of January, lowering the annual increase in this category to 31.6 per cent.  Developments in January were driven by decreases in deposits from three of the four sectors. The most substantial decrease was recorded in the ICPF sector, falling by €84 million. Deposits from households and NFCs also fell, by €24 million and €18 million, respectively. Meanwhile, deposits from OFIs showed a modest increase of €43 million in January 2013.
  • Private-sector deposits from non-residents declined by €1.1 billion during January 2013. Other euro area private-sector deposits fell by €271 million, while private-sector deposits from non-euro area residents fell by €822 million over the month. Total non-resident private-sector deposits had fallen by 8.1 per cent on an annual basis at end-January 2013, with deposits from other euro area private-sector entities being 14.7 per cent lower, and those from the non-euro area private sector 3.7 per cent lower.
  • Credit institutions’ borrowings from the Central Bank as part of Eurosystem monetary policy operations fell by €4.3 billion in January 2013. The outstanding stock of these borrowings amounted to €67.1 billion at end-January. Domestic market credit institutions[2] accounted for €55.7 billion of this total outstanding stock. 

Notes

Data tables, along with a detailed set of explanatory notes are accessible in the Credit, Money and Banking section of the Statistics portal of the Central Bank of Ireland website.

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.


[1] Money and Banking statistics are compiled in respect of business written out of all within-the-State offices of both credit institutions authorised to carry on banking business in the State under Irish legislation and credit institutions authorised in other Member States of the EU operating in Ireland on a branch basis.  Credit institutions authorised in other EU Member States operating in Ireland on a cross-border basis, i.e. with no physical presence in the State, are not included in the statistics. A full list of Credit Institutions resident in the Republic of Ireland is available on the Central Bank of Ireland website. Recent data are often provisional and may be subject to revision. The extensive set of Money and Banking Statistics tables are also available on the Central Bank website, along with the detailed Money and Banking Explanatory Notes.

[2] Domestic market credit institutions are those who have a significant level of retail business with Irish households and NFCs, and would exclude the more internationally focused banks in the IFSC.  A full list of these institutions is available in the Credit, Money and Banking section of the Statistics portal of the Central Bank of Ireland website.