Tuesday, August 27 11:26:35
Lending to Irish households fell by 0.8pc in the second quarter of the year compared to the first three months while deposits held in Irish banks also declined, latest Central Bank figures today showed.
Total credit to Irish private households outstanding on the balance sheet of resident credit institutions was E99.5 billion at end-June 2013, following a quarterly decline of 0.8pc and an annual decline of 3.9pc.
The total amount of loans outstanding to private households, including loans that have been securitised and continue to be serviced by resident credit institutions, stood at E140.4 billion at end-June 2013.
Central Bank figures show that total deposits held in resident credit institutions by Irish private households was E86.3 billion at end-June 2013, following a quarterly decrease of 0.7pc and an annual decrease of 0.5pc.
The annual rate of change in loans for house purchase was minus 2.2pc at end-June 2013, following a quarterly decline of 0.7pc.
This was the fourteenth consecutive quarterly decline in loans for house purchase, albeit a smaller decline than in previous quarters.
The outstanding amount of loans for house purchase on-balance sheet stood at E83.6 billion at end-June 2013. A further E41 billion of securitised mortgages, which continue to be serviced by resident credit institutions, was outstanding at end-June 2013.
Floating rate mortgages, which include standard variable rate, tracker rate, and mortgages with a fixed rate up to one year3, accounted for 93pc of the outstanding amount of loans for house purchase on-balance sheet at end-June 2013.
Tracker mortgages by themselves accounted for 50pc of outstanding loans for house purchase. The share of standard variable rate mortgages increased during Q2 2013 to 41pc, following a net increase of E562 million during the quarter.
Non-housing related lending, or 'other personal' lending, accounted for 16pc (E15.9 billion) of total on-balance sheet credit advanced to Irish private households by resident credit institutions at end-June 2013.
Lending in this category fell by 11.9pc in the year ending June 2013. This followed an annual decrease of 12.1pc at end-March 2013.
Non-housing related lending to private households peaked in Q1 2009. By end-June 2013 it had declined by 29.7pc from that peak.
The deposits held in resident credit institutions by Irish private households stood at E86.3 billion at end-June 2013. This followed a decrease of E652 million (0.7pc) during Q2 2013.