Financial Statistics

06/08/2013

Chart 1: Lending to Irish Resident Households
40 30 20 10 0 -10 -20

Definition: Lending to Irish households covers developments in lending for house purchase, consumption and other purposes by banks within Ireland. Summary: The pace of expansion in lending to households from 2003-2007 was among the highest in the euro area. The subsequent decline has been particularly large for consumer lending, as both total and housing related lending have been contracting on an annual basis since late 2009/early 2010. The extent of the contraction in household lending in Ireland has been more pronounced than in the euro area as a whole.

% Change Year-on-Year

Mar 08

Mar 05

Mar 07

Mar 11

Mar 04

Mar 06

Mar 09

Mar 10

Mar 12

Mar 13

Dec 05

Dec 07

Dec 04

Dec 06

Dec 08

Dec 09

Dec 10

Dec 11

Dec 12

Jun 08

Jun 05

Jun 04

Jun 06

Jun 07

Jun 09

Jun 11

Sep 05

Sep 07

Sep 08

Jun 10

Jun 12

Sep 04

Sep 06

Sep 09

Sep 10

Sep 11

Sep 12

Jun 13

Full Data Set Available Here

Total Lending to Households Lending for Consumption and Other Purposes

Lending for House Purchase

Chart 2: Lending to Irish Resident Non-Financial Corporations
Definition: Lending to Irish non-financial corporations (NFCs) covers developments in lending to all incorporated non-financial businesses by banks within Ireland. Summary: The pace of expansion in lending to NFCs from 2003-2007 was among the highest in the euro area and concentrated in property related lending. The decline in NFC lending in recent years has been concentrated in medium- to longer-term loans, which is in line with the wider contraction in investment in the Irish economy over the period. Shorter-term lending, including the use of overdrafts, has, for the most part, continued to increase, albeit at a much slower pace. There is also evidence of an upward trend in longer term loans since early 2010.

% Change Year-on-Year

80 70 60 50 40 30 20 10 0 -10 -20
Jun 08 Jun 06 Jun 07 Jun 05 Jun 10 Jun 11 Jun 04 Jun 09 Mar 08 Mar 06 Mar 07 Mar 10 Mar 11 Mar 04 Mar 05 Mar 09 Mar 12 Sep 08 Dec 08 Sep 11 Dec 11 Jun 12 Mar 13 Sep 07 Dec 07 Sep 10 Dec 05 Dec 06 Dec 09 Dec 10 Sep 05 Dec 04 Dec 12 Sep 04 Sep 06 Sep 09 Sep 12 Jun 13

-30

Full Data Set Available Here

up to 1 year

over 1 year and up to 5 years

over 5 years

Chart 3: Lending to Irish Non-Financial Enterprises
Definition: Credit to Irish non-financial enterprises (NFEs) covers all credit to non-financial businesses, irrespective of legal form, by banks within Ireland. Small and medium sized enterprises (SMEs) are identified based on standard EU definitions. Summary: The majority of credit advanced to NFEs continues to be to SMEs. These enterprises are more likely to be indigenous and have a higher reliance on funding from the Irish resident banking system than larger and multi-national enterprises.

Credit to Large Enterprises €34,581 37% Credit to SMEs €58,249 63%

Full Data Set Available Here

Ref: Q1 2013; € million

Contact: mpsenquiries@centralbank.ie

Social and… Business and Administrative… Information and Communication 52% Property Related Financial Intermediation Other Hotels and Restaurants Transportation and Storage Wholesale/Retail Trade & Repairs Water Supply.000 2. Of the remaining 20 per cent. Breakdowns of certain deposit categories by type of bank are available on the Central Bank website. and Manufacturing are the main sectors accessing credit from Irish resident credit institutions. The annual rate of change in both series turned negative towards the end of 2008. However. Primary.000 4.000 8. by credit institutions within Ireland.ie . however. Gas. Sector classifications based on NACE Rev. % 7 6 5 4 3 2 1 Jan 05 Mar 05 May 05 Jul 05 Sep 05 Nov 05 Jan 06 Mar 06 May 06 Jul 06 Sep 06 Nov 06 Jan 07 Mar 07 May 07 Jul 07 Sep 07 Nov 07 Jan 08 Mar 08 May 08 Jul 08 Sep 08 Nov 08 Jan 09 Mar 09 May 09 Jul 09 Sep 09 Nov 09 Jan 10 Mar 10 May 10 Jul 10 Sep 10 Nov 10 Jan 11 Mar 11 May 11 Jul 11 Sep 11 Nov 11 Jan 12 Mar 12 May 12 Jul 12 Sep 12 Nov 12 Jan 13 Mar 13 0 Full Data Set Available Here Loans Deposits Chart 6: Credit Advanced by Sector Total: €195 billion Total excl. Interest rates on mortgage loans (which account for 78 per cent of total outstanding loans to households) have typically reflected changes to the ECB's main refinancing rate. including those in the IFSC. Irish mortgage interest rates have tended to gradually increase over the last two quarters. property related and financial intermediation: €39 billion Extra-Territorial Organisations… 28% Human Health and Social Work Education Other Community. and as deposit outflows continued to accelerate. Waste… Electricity. Note: This series refers to deposits in all credit institutions. private-sector deposits stabilised and began to increase on an annual basis. due to the high proportion of tracker and other variable rate products in the Irish market. Wholesale/Retail Trade & Repairs. the annual rate of decline in Irish resident private-sector deposits reached 11 per cent in late 2011. Sewerage. Towards the latter part of 2011. Summary: Interest rates on loans to households increased steadily between early 2010 and late 2011. Summary: Financial Intermediation (including FVCs) and the property Related sectors of Real Estate and Construction activities account for 80 per cent of total credit advanced.000 0 20% Definition: Credit to Irish enterprises covers all credit to businesses. Hotels & Restaurants. as policy rates were cut. Steam and Air… Manufacturing Primary Industries Ref: Q1 2013 10. inflows of deposits from the Irish resident and non-resident private sector declined sharply from early 2007 onwards. irrespective of legal form. following a period of significant decline from October 2008 to end-2009. Summary: Following a period of strong growth between 2003 and 2006.Financial Statistics SUMMARY CHART PACK Chart 4: Irish Resident and Non-Resident Private-Sector Deposits % Change Year-on-Year 50 40 30 20 10 0 -10 -20 Jun 12 Jun 04 Jun 05 Jun 06 Jun 07 Jun 08 Jun 09 Jun 10 Dec 04 Dec 05 Dec 06 Dec 07 Dec 08 Dec 09 Dec 10 Jun 11 Dec 11 Mar 04 Mar 05 Mar 06 Mar 07 Mar 08 Mar 09 Mar 10 Mar 11 Mar 12 Dec 12 Sep 04 Sep 05 Sep 06 Sep 07 Sep 08 Sep 09 Sep 10 Sep 11 Sep 12 Mar 13 Jun 13 -30 Irish Resident Private-Sector Deposits Non-Resident Private-Sector Deposits Definition: Deposits of non-MFI private sector held in banks within Ireland. first for Irish resident deposits (August 2012) and then for non-resident deposits (May 2013). Full Data Set Available Here Chart 5: Interest Rates on Household Loans and Deposits Definition: Weighted average interest rate between Irish resident banks and households on loans and deposits. interest rates on household loans began to once again decline. Through 2012 and into 2013. while the contraction in nonresident private-sector deposits was even more pronounced.000 6. over the past nine months the applicable Irish rate has diverged somewhat from the ECB's MRO rate. Full Data Set Available Here € million Contact: mpsenquiries@centralbank.2. Business & Administrative Services.

Financial Statistics SUMMARY CHART PACK Chart 7: Household Net Worth € billion 1.5% Summary: The number of mortgage accounts in arrears of over 90 days has increased significantly in recent years.0% 2.5% 10. Household indebtedness can be measured by total household loans as a percentage of disposable income measured by a four-sum moving average.0% 7. Summary: The chart shows the growth in household indebtedness over the series as households' loans grew strongly.1 per cent of all outstanding mortgages on PDH properties at end-Q3 2009 to 12.ie . The latter is sourced from the CSO's institutional accounts.5% 5.0% In arrears 91 to 180 days In arrears over 180 days % in arrears for more than 90 days Contact: mpsenquiries@centralbank.000 800 600 400 200 0 -200 -400 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2004 2005 2006 2007 2008 2009 2010 2011 2012 Definition: Household net worth is equal to the household sectors' stock of financial and housing assets minus its stock of liabilities. Note : Housing Assets based on internal Central Bank of Ireland estimates (available upon request). € billion % of Disposable Income Data Set Available Here Information Release Available Here Note: Disposable income available from www. from 3. The subsequent decline in net worth was also significantly driven by this factor. Summary: The expansion of net worth in the series was largely driven by the rapid growth in the value of housing assets.3 per cent at end Q1 2013. Thousands of Mortgages 100 80 60 40 20 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2010 2011 2012 2013 12. Household loans peaked at Q4 2008. but mitigated by the reduction in household liabilities.cso. Data Set Available Here Information Release Available Here Financial Assets Housing Assets Liabilities Net Worth Chart 8: Household Debt 220 200 180 160 140 120 100 80 60 40 20 0 240 220 200 180 160 140 120 Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4 2004 2005 2006 2007 2008 2009 2010 2011 2012 Definition: Household debt is represented by total household loans at the end of each quarter.ie 100 Debt (LHS) Debt as a % of Disposable Income (RHS) Chart 9: Mortgage Arrears Definition: The number of mortgage accounts on principal dwelling homes (PDH) that are in arrears equivalent to at least 90 days past due. Full Data Set Available Here 0.

The funding from the EU/IMF programme is also classified as loans.4 billion at end-May 2013. Summary: The chart shows that the majority of claims are on the UK. Over the next three years. by counterpart country and sector on an ultimate risk basis i. 60 per cent of which is payable to non-resident investors. Private Sector €67bn ROW 13% Spain 2% France 4% US 5% Germany 2% Public Sector €8bn Ref: Q1 2013 Credit Institutions €3bn Full Data Set Available Here Chart 12: Maturity Profile of Irish Long-Term Government Bonds May-13 Breakdown Amounts due to mature in: < 3 Years 3 to 5 years 5 to 10 years 10 to 15 years > 15 years Total Resident 44% Non-Resident 56% 18% 4% 19% 8% 51% 100% 19% 6% 61% 12% 2% 100% Definition: A breakdown of the maturity profile of Irish long-term government bonds. Summary: The outstanding value of long-term government debt was €115. and gives the sectoral breakdown of these claims. Irish resident investors accounted for 44 per cent of long-term Irish government bonds compared with 27 per cent in May 2012.eu/ Long-Term Securities Deposits Other Loans Short-Term Securities QGD Chart 11: Foreign Claims of Irish-Owned Banks All Foreign Claims % UK Claims €bn Definition: The consolidated banking statistics detail the claims of the domestic banks on non-residents.eurostat. and is measured at a market value. Summary: Government liabilities have grown substantially since 2008. The expansion has been largely driven by an increase in loans and securities. which is the standard quarterly measure of debt consistent with EDP methodology. €21.Financial Statistics SUMMARY CHART PACK Chart 10: Government Liabilities € billion 250 200 150 100 50 0 Definition: Government liabilities differ from the Excessive Deficit Procedure (EDP) measure of debt as it is calculated on a nonconsolidated basis.europa.ec.e. At end-May 2013.4 billion (or 18 per cent) of euro-denominated long-term debt will fall due. Full Data Set Available Here Contact: mpsenquiries@centralbank. The chart also shows Quarterly Government Debt (QGD).ie . Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2004 2005 2006 2007 2008 2009 2010 2011 2012 Data Set Available Here Information Release Available Here Note: QGD available from: http://epp. The promissory note issued to IBRC is classified as loans in financial accounts. according to the country and sector where the ultimate guarantor of the risk resides.

9 as at the close of Q4 2012. the total number of reporting entities decreased from 748 in Q4 2010 to 682 as at the close of Q1 2013.200 1. rather than revaluation changes (though a reclassification from money market to investment funds drove the large increase in Q4 2011). However over the same period. 800 800 700 700 Numbers Reporting 600 € billion 576.1 543.2 billion in Q1 2013. based on the net asset value of investment funds.6 499.1 469. with assets increasing to €450. Ireland’s share of the euro area industry has increased steadily and now stands at almost 15 per cent. reflecting new funds and investor flows into existing funds. of Reporting Irish Resident FVCs and Total Assets Definition: FVCs are entities that are set up for the purpose of carrying out securitisation activities. Summary: The value of the industry has increased very strongly since the start of the data series in Q4 2008 and. The key driving factor has been transactions inflows. The chart reflects that overall value of assets increased for the first time since Q4 2010.7 516.4 457.6 500 481. which is where these vehicles take on the credit risk of an asset.8 600 500 533. Over half of all euro area hedge funds are resident here. Summary: This chart shows the total asset value and the number of reporting Irish resident FVCs since Q4 2010.2 400 Q4 Q1 Q2 Q3 Q4 Q1 Q2 2011 400 Full Data Set Available Here Q3 Q4 Q1 2013 2012 Total Assets (LHS) Number of Reporting Irish Resident FVCs (RHS) Contact: mpsenquiries@centralbank.9 450. Transaction Net Inflows (LHS) Value of Investment Funds (RHS) Full Data Set Available Here Chart 14: No.2 441. up from €441.Financial Statistics SUMMARY CHART PACK Chart 13: Value of Irish Resident Investment Fund Shares/Units 45 35 € billion 1. This increase was entirely driven by NAMA transactions.000 € billion 25 15 5 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2009 2010 2011 2012 2013 800 600 400 200 0 Definition: The value of Irish resident investment funds and inflows from investors. passed the €1 trillion mark in Q1 2013.ie .

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