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

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. Summary: Following a period of strong growth between 2003 and 2006, inflows of deposits from the Irish resident and non-resident private sector declined sharply from early 2007 onwards. The annual rate of change in both series turned negative towards the end of 2008, and as deposit outflows continued to accelerate, the annual rate of decline in Irish resident private-sector deposits reached 11 per cent in late 2011, while the contraction in nonresident private-sector deposits was even more pronounced. Through 2012 and into 2013, however, private-sector deposits stabilised and began to increase on an annual basis, first for Irish resident deposits (August 2012) and then for non-resident deposits (May 2013). Note: This series refers to deposits in all credit institutions, including those in the IFSC. Breakdowns of certain deposit categories by type of bank are available on the Central Bank website. 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. Summary: Interest rates on loans to households increased steadily between early 2010 and late 2011, following a period of significant decline from October 2008 to end-2009. Towards the latter part of 2011, interest rates on household loans began to once again decline, as policy rates were cut. 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, due to the high proportion of tracker and other variable rate products in the Irish market. However, over the past nine months the applicable Irish rate has diverged somewhat from the ECB's MRO rate. Irish mortgage interest rates have tended to gradually increase over the last two quarters.

% 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

Full Data Set Available Here

Loans

Deposits

Chart 6: Credit Advanced by Sector

Total: 195 billion
Total excl. property related and financial intermediation: 39 billion Extra-Territorial Organisations 28% Human Health and Social Work Education Other Community, 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, Sewerage, Waste Electricity, Gas, Steam and Air Manufacturing Primary Industries Ref: Q1 2013 10,000 2,000 4,000 6,000 8,000 0

20%

Definition: Credit to Irish enterprises covers all credit to businesses, irrespective of legal form, by credit institutions within Ireland. Sector classifications based on NACE Rev.2. 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. Of the remaining 20 per cent, Wholesale/Retail Trade & Repairs, Hotels & Restaurants, Business & Administrative Services, Primary, and Manufacturing are the main sectors accessing credit from Irish resident credit institutions.

Full Data Set Available Here

million

Contact: mpsenquiries@centralbank.ie

Financial Statistics
SUMMARY CHART PACK

Chart 7: Household Net Worth

billion

1,000 800 600 400 200 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. Summary: The expansion of net worth in the series was largely driven by the rapid growth in the value of housing assets. The subsequent decline in net worth was also significantly driven by this factor, but mitigated by the reduction in household liabilities. Note : Housing Assets based on internal Central Bank of Ireland estimates (available upon request).

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. Household indebtedness can be measured by total household loans as a percentage of disposable income measured by a four-sum moving average. The latter is sourced from the CSO's institutional accounts. Summary: The chart shows the growth in household indebtedness over the series as households' loans grew strongly. Household loans peaked at Q4 2008.

billion

% of Disposable Income

Data Set Available Here Information Release Available Here Note: Disposable income available from www.cso.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. 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

12.5% 10.0% 7.5% 5.0% 2.5%

Summary: The number of mortgage accounts in arrears of over 90 days has increased significantly in recent years, from 3.1 per cent of all outstanding mortgages on PDH properties at end-Q3 2009 to 12.3 per cent at end Q1 2013.

Full Data Set Available Here

0.0%

In arrears 91 to 180 days

In arrears over 180 days

% in arrears for more than 90 days

Contact: mpsenquiries@centralbank.ie

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, and is measured at a market value. The chart also shows Quarterly Government Debt (QGD), which is the standard quarterly measure of debt consistent with EDP methodology. Summary: Government liabilities have grown substantially since 2008. The expansion has been largely driven by an increase in loans and securities. The promissory note issued to IBRC is classified as loans in financial accounts. The funding from the EU/IMF programme is also classified as loans.

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.eurostat.ec.europa.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, by counterpart country and sector on an ultimate risk basis i.e. according to the country and sector where the ultimate guarantor of the risk resides. Summary: The chart shows that the majority of claims are on the UK, and gives the sectoral breakdown of these claims.

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 115.4 billion at end-May 2013. Over the next three years, 21.4 billion (or 18 per cent) of euro-denominated long-term debt will fall due; 60 per cent of which is payable to non-resident investors. At end-May 2013, Irish resident investors accounted for 44 per cent of long-term Irish government bonds compared with 27 per cent in May 2012.

Full Data Set Available Here

Contact: mpsenquiries@centralbank.ie

Financial Statistics
SUMMARY CHART PACK

Chart 13: Value of Irish Resident Investment Fund Shares/Units 45 35

billion

1,200 1,000
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. Summary: The value of the industry has increased very strongly since the start of the data series in Q4 2008 and, based on the net asset value of investment funds, passed the 1 trillion mark in Q1 2013. Irelands share of the euro area industry has increased steadily and now stands at almost 15 per cent. Over half of all euro area hedge funds are resident here. The key driving factor has been transactions inflows, reflecting new funds and investor flows into existing funds, rather than revaluation changes (though a reclassification from money market to investment funds drove the large increase in Q4 2011).

Transaction Net Inflows (LHS)

Value of Investment Funds (RHS)

Full Data Set Available Here

Chart 14: No. of Reporting Irish Resident FVCs and Total Assets
Definition: FVCs are entities that are set up for the purpose of carrying out securitisation activities, which is where these vehicles take on the credit risk of an asset. Summary: This chart shows the total asset value and the number of reporting Irish resident FVCs since Q4 2010. The chart reflects that overall value of assets increased for the first time since Q4 2010, with assets increasing to 450.2 billion in Q1 2013, up from 441.9 as at the close of Q4 2012. This increase was entirely driven by NAMA transactions. However over the same period, the total number of reporting entities decreased from 748 in Q4 2010 to 682 as at the close of Q1 2013.

800

800

700

700 Numbers Reporting

600 billion
576.1 543.8

600

500

533.7

516.6

499.6

500
481.1 469.4 457.2 441.9 450.2

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.ie