Information release 31 May 2012
The Central Bank of Ireland today published the April 2012 Money and Banking Statistics[i].
The related data tables are available in the statistics area of the Central Bank website.
Loans and other credit
- Loans to households continued to decline during April 2012, and were 4 per cent lower on a year-to-year basis, following a decline of 3.9 per cent for the year ending March 2012. Lending for house purchase was 2.5 per cent lower on an annual basis in April 2012, while lending for consumption and other purposes declined by 8.4 per cent over the same period.
- Lending to households declined by €632 million during the month of April following a net monthly flow of minus €167 million in March. Developments in April were largely driven by a decrease in loans for consumption purposes of €394 million. Loans for house purchase and other purposes also decreased by €188 million and €51 million, respectively.
- The monthly net flow of loans to households averaged minus €385 million in the three months ending April 2012, which consists of an average net flow of minus €205 million in loans for consumption purposes, minus €22 million in lending for other purposes, and minus €157 million in loans for house purchase.
- Lending to the non-financial corporate (NFC) sector declined by 1.8 per cent in the year ending April 2012, following an annual decline of 2.2 per cent in March 2012.
- On a monthly basis, loans to NFCs decreased by €326 million during April 2012, following an increase of €34 million in March. The monthly net flow of loans to NFCs averaged minus €153 million in the three months ending April 2012, compared with an average of minus €227 million in the three-month period up to end-March 2012.
- Short-term loans to NFCs with an original maturity up to one year, which includes the use of overdraft facilities, increased during April by €155 million, following an increase of €135 million in March. Medium-term NFC loans decreased in April 2012 by €428 million, while longer-term NFC loans decreased by €53 million.
- On an annual basis, longer-term NFC loans with an original maturity over five years decreased by 1.8 per cent in April 2012. The pace of growth in short-term NFC loans continued to increase moderately, as loans with an original maturity up to one year grew by 4.3 per cent in the year ending April 2012. Meanwhile NFC lending between one and five years original maturity declined by 6.9 per cent.
- Credit institutions’ holdings of debt and equity securities issued by the Irish private sector decreased by almost €1.5 billion during the month of April - an annual rate of change in these holdings of minus 7.3 per cent. This follows a decline of 6.8 per cent for the year ending March 2012. Credit institutions’ holdings of debt securities issued by other (non-bank) financial intermediaries (OFIs) decreased by 7.6 per cent on an annual basis in April 2012.
Deposits and other funding
- Irish resident private-sector deposits were 3.4 per cent lower on an annual basis at end-April 2012, compared with a decline of 4.3 per cent over the year ending March. Deposits from households were 1.1 per cent lower on an annual basis in April while deposits from NFCs declined by 3.5 per cent. Deposits from insurance corporations and pension funds (ICPFs) and OFIs fell by 7.6 per cent over the same period.
- There was a month-on-month increase of almost €4 billion in Irish resident private-sector deposits during April. This largely reflected developments in deposits from the OFI sector, which rose by almost €3.4 billion during the month. The covered institutions accounted for the majority of this increase. NFC deposits also increased, by €291 million, while household deposits decreased by €104 million.
- Private-sector overnight deposits decreased by €51 million during April 2012. Household sector overnight deposits decreased by €378 million during the month, while overnight deposits in the OFI and ICPF sectors increased by €328 million and €88 million, respectively. The NFC sector registered a decrease of €86 million in overnight deposits during April.
- Household deposits with agreed maturity up to two years increased by €307 million during the month of April, while NFCs and ICPFs increased their deposits in this category, by €376 million and €196 million, respectively. OFI deposits with agreed maturity up to two years also increased, by €72 million, during the month.
- Private-sector deposits from non-residents fell by €277 million during April 2012, predominantly reflecting developments in the IFSC-based banks. This included a decrease of €283 million in deposits from other euro area private-sector residents during the month, while private-sector deposits from non-euro area residents increased by €6 million. Total non-resident private-sector deposits were 3.9 per cent lower on an annual basis at end-April 2012, with deposits from other euro area private-sector entities 8.5 per cent lower, and those from the non-euro area private sector 0.8 per cent lower.
- Total deposits from other euro area residents, including deposits from MFIs, general government and the private sector, fell by €2.6 billion during April. This was predominantly driven by a fall of €1.7 billion in deposits from general government. Total deposits from non-euro area residents fell by €2.7 billion during April, which was mostly related to a decline in deposits from affiliated MFIs.
- Credit institutions’ borrowings from the Central Bank as part of Eurosystem monetary policy operations increased by €2 billion in April 2012. The outstanding stock of borrowings from the Eurosystem by Irish resident credit institutions amounted to €89.8 billion at end-April. Domestic market credit institutions[ii] accounted for €77 billion of this total outstanding stock - a month-on-month increase of €2 billion.
- A number of credit institutions have issued debt under the Eligible Liabilities Guarantee scheme and have retained the bonds concerned for their own use. For methodological reasons these are not included in the Money and Banking Statistics tables. At end-April 2012, the outstanding amount of these bonds was €13 billion.
[i] 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 Bank’s website. Recent data are often provisional and may be subject to revision. The extensive set of Money and Banking Statistics tables and compilation details, in Money and Banking Explanatory Notes, are also available on the Central Bank of Ireland website.
[ii] 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.