Thursday, October 18 11:24:30
Headline deposits at covered banks remain stable at E153 billion in September, decreasing marginally by around E0.8bn (-0.5pc) due mainly to business as usual outflows, the Department of Finance said today.
On a constant currency basis, deposits were E0.6bn lower.
The main driver of the decrease during September was softer volumes in corporate deposits and Non-Bank Financial Institutional deposit balances in both Ireland and overseas locations.
The cumulative growth since the start of the year remains strong with headline deposits up by around E6.3bn (4.3pc).
The year-on-year increase is E11.1bn or about 8pc, although the pace of year on year increase has moderated.
The usage of Eurosystem funding by AIB, Bank of Ireland and PTSB reduced by a further E0.4bn in August 2012, reflecting the continued progress that is being achieved by the banks in terms of deleveraging and deposit gathering, the Department's statement said.
Eurosystem funding to Covered Banks peaked at E93bn in January 2011 and has since reduced by 34pc or E32bn to E61bn.
Ireland's share of total Eurosystem funding has declined steadily from a peak in December 2010, immediately after the bailout.
The covered banks (excluding IBRC) system accounts for 5.0pc of total Eurosystem funding at 30 September 2012, down from a peak of 18.1pc.