Bloomberg News

Irish Consumer Lenders’ ECB Reliance Rises to 73.1 Billion Euros

December 30, 2011

Dec. 30 (Bloomberg) -- Irish consumer lenders’ reliance on European Central Bank funding increased by 1.6 billion euros ($2.1 billion) to 73.1 billion euros in November, according to the country’s central bank.

Irish resident private-sector deposits fell by an underlying 1.3 billion euros during November, driven by a 1.2 billion-euro decline in household deposits, the Dublin-based bank said in an e-mailed statement today. Irish private-sector deposits stood at 162.1 billion euros, it said.

Total deposits from other euro-area residents increased by 1.6 billion euros in the month, it said. Private-sector deposits from non-euro-area residents fell by 2.5 billion euros, with all the outflows in this category relating to lenders based in the International Financial Services Centre in Dublin, the central bank said.

--Editors: Patrick G. Henry, Jones Hayden

To contact the reporter on this story: Joe Brennan in Dublin at jbrennan29@bloomberg.net

To contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.net


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