Central Bank of Ireland - UNRESTRICTED

Statistical Release
Financial Statistics Summary Chart Pack 15 May 2019
Chart 1: Lending to Irish Resident Households Definition: Lending to Irish households covers developments in
lending for house purchase, and lending for consumption and
other purposes by banks within Ireland.
% Change Year-on-Year

Summary: The pace of expansion in lending to Irish households

40
in the pre-crisis years was among the highest in the euro area.
30
An extended period of negative growth began in 2009/10,
however. Growth has been steadily recovering since reaching a
20 low-point in 2012/13, with total lending to households turning
positive in mid-2017. Initially, this growth was led by consumer
10
lending, before this slowed over the past year. Growth in
0 lending for house purchase continues to increase, having turned
positive in 2017, and is now at the highest level since 2009.
-10

-20
Mar-08

Mar-09

Mar-10

Mar-11

Mar-12

Mar-13

Mar-15

Mar-16

Mar-17

Mar-18

Mar-19
Mar-14
Jun-08

Jun-09

Jun-10

Jun-12

Jun-13

Jun-14

Jun-15

Jun-16

Jun-17

Jun-18
Jun-11
Sep-08
Dec-08

Sep-09
Dec-09

Sep-10
Dec-10

Sep-11
Dec-11

Sep-12
Dec-12

Dec-13

Sep-14
Dec-14

Sep-15
Dec-15

Sep-16
Dec-16

Sep-17
Dec-17

Sep-18
Dec-18
Sep-13

Full Data Set Available Here (See Table A.1)

Total Lending to Households Lending for House Purchase Lending for Consumption and Other Purposes

Chart 2: Lending to Irish Resident Non-Financial Corporations Definition: Lending to Irish non-financial corporations (NFCs) covers
developments in lending to all non-financial enterprises by banks
within Ireland.

Summary: The pace of expansion in lending to Irish NFCs in the pre-

% Change Year-on-Year

60 crisis years was among the highest in the euro area, mainly driven
50 by property-related lending. The post-crisis decline in NFC lending
40
was initially concentrated in medium- and long-term loans, with
short-term lending continuing to record positive growth until 2012.
30

20
Growth in total NFC lending turned positive in 2018. This has been
10 driven by strong growth in medium-term lending. Short-term
0 lending has recorded negative growth since 2012, although the rate
-10 of decline has reduced over the past couple of years. Growth in
-20
long-term lending has also been weak, and recently turned negative
again after a brief period of growth.
-30
Mar-08

Sep-08
Dec-08
Mar-09

Sep-09
Dec-09

Dec-10
Mar-11

Sep-11
Dec-11
Mar-12

Sep-12
Dec-12
Mar-13

Sep-13
Dec-13
Mar-14

Sep-14
Dec-14
Mar-15

Sep-15
Dec-15
Mar-16

Sep-16
Dec-16
Mar-17

Sep-17

Mar-18

Sep-18
Dec-18
Mar-19
Mar-10

Sep-10

Dec-17
Jun-08

Jun-09

Jun-10

Jun-11

Jun-12

Jun-13

Jun-14

Jun-15

Jun-16

Jun-17

Jun-18

Full Data Set Available Here (See Table A.5)

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
Credit to Large have a higher reliance on funding from the Irish resident banking
Credit to SMEs Enterprises system than larger and multinational enterprises .
€23,385 €19,490
55% 45%

Full Data Set Available Here (See Table A.14 and Table A.14.1)

Ref: Q4 2018; € million

For queries contact: statistics@centralbank.ie

Central Bank of Ireland - UNRESTRICTED

Statistical Release
Financial Statistics Summary Chart Pack
Definition: Deposits by the non-MFI private sector held in banks
Chart 4: Irish Resident and Non-Resident Private-Sector Deposits
within Ireland.

Summary: Since 2012, growth in deposits from Irish-resident

50 private sector enterprises has been mostly positive. Deposits from
% Change Year-on-Year

40 Irish-resident non-financial corporations began to show positive

growth from 2012, with growth reaching double-digits in some
30 periods, before slowing down recently. Growth in Irish household
20 deposits turned positive in 2014 and is now at the highest rate
since 2009. The outstanding stock of Irish-resident private sector
10 deposits has now surpassed the pre-crisis peak.
0
Apart from brief periods, growth in non-resident private-sector
-10 deposits has been mostly negative since late 2008. The outstanding
-20 stock of non-resident private sector deposits has declined
significantly, with non-euro area deposits falling the most.
-30
Sep-08

Sep-09

Sep-10

Sep-11

Sep-12

Sep-13

Sep-14

Sep-15

Sep-16

Sep-17

Sep-18
Dec-08
Mar-09

Dec-09
Mar-10

Dec-11
Mar-12

Dec-12
Mar-13

Dec-13
Mar-14

Dec-14
Mar-15

Dec-15
Mar-16

Dec-17
Mar-18

Dec-18
Mar-19
Mar-08

Dec-10
Mar-11

Dec-16
Mar-17
Jun-09

Jun-10

Jun-11

Jun-12

Jun-13

Jun-14

Jun-15

Jun-16

Jun-18
Jun-08

Jun-17

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
Irish Resident Private-Sector Deposits Non-Resident Private-Sector Deposits

Full Data Set Available Here (See Table A.1 and Table A.12.2)

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 mortgage loans (which account for about

85 per cent of total outstanding loans to households) have typically
% 7 reflected changes to the ECB's main refinancing rate, due to the high
6
proportion of tracker and other variable rate products in the Irish
market. However, over the last number of years, Irish rates have
5
decoupled from their traditional correlation with the MRO benchmark.
4 Irish rates remain higher than equivalent euro area interest rates.
3

0
Jun 08

Jun 09

Jun 10

Jun 11

Jun 12

Jun 13

Jun 14

Jun 15

Jun 16

Jun 17

Jun 18
Mar 08

Mar 09

Mar 10

Mar 12

Mar 14

Mar 15

Mar 16

Mar 17

Mar 18

Mar 19
Dec 08

Dec 09

Dec 10
Mar 11

Dec 11

Dec 12
Mar 13

Dec 13

Dec 14

Dec 16

Dec 18
Dec 15

Dec 17
Sep 09

Sep 10

Sep 11

Sep 12

Sep 13

Sep 14

Sep 15

Sep 16

Sep 17

Sep 18
Sep 08

-1 Full Data Set Available Here (Table B.1.1 and Table B.1.2)

Loans Deposits ECB MRO

Chart 6: Credit Advanced by Sector Definition: Credit to Irish enterprises covers all credit to businesses,
Total: €83 billion Total excl. property-related and financial intermediation: €30 billion
irrespective of legal form, by credit institutions within Ireland.
Sector classifications are based on NACE Rev.2.
Extra-Territorial Organisations and…
16% Human Health and Social Work
Education Summary: Financial Intermediation (including FVCs) and the
Other Community, Social and Personal…
36% property-related sectors of Real Estate and Construction activities
Business and Administrative Services
48% Information and Communication account for 64 per cent of total credit advanced. Of the remaining
Hotels and Restaurants 36 per cent, Wholesale/Retail Trade & Repairs, Hotels &
Transportation and Storage
Wholesale/Retail Trade & Repairs Restaurants, Business & Administrative Services, Primary, and
Property-Related Water Supply, Sewerage, Waste… Manufacturing industries are the main sectors accessing credit from
Electricity, Gas, Steam and Air…
Financial Intermediation
Manufacturing
Irish resident credit institutions.
Other Primary Industries
0

2,000

5,000
1,000

3,000

4,000

6,000

€ million
Ref: Q4 2018

Full Data Set Available Here (See Table A.14)

For queries contact: statistics@centralbank.ie

Central Bank of Ireland - UNRESTRICTED

Statistical Release
Financial Statistics Summary Chart Pack
Chart 7: Household Net Worth Definition: Household net worth is equal to the household sector's
1000 stock of financial and housing assets minus its stock of liabilities.

Summary: The expansion of net worth in the run up to the financial

750
crisis was largely driven by the rapid growth in the value of housing
assets. The subsequent decline in net worth was also significantly
500 driven by this factor, but mitigated by the reduction in household
€ billion

liabilities. Since Q2 2012, net worth began to increase once more

and exceeded its previous peak in Q4 2017.
250

Note: Housing Assets based on internal Central Bank of Ireland

0 estimates (available upon request).

-250
2003 Q2
2004 Q1

2005 Q3
2006 Q2
2007 Q1

2008 Q3
2009 Q2

2010 Q4
2011 Q3

2013 Q1
2013 Q4

2015 Q2
2016 Q1

2017 Q3
2018 Q2
2004 Q4

2007 Q4

2010 Q1

2012 Q2

2014 Q3

2016 Q4

Financial Assets Liabilities Full Data Set Available Here

Housing Assets Net Worth Information Release Available Here

Chart 8: Household Debt 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 Q3 2008.

Full Data Set Available Here

Information Release Available Here
Note: Disposable Income Available from www.cso.ie

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.

Summary: The number of PDH mortgage accounts in arrears over 90

days peaked at 12.9 per cent at end-Q3 2013. Since then, the number
100 14% of accounts in arrears over 90 days has declined for twenty-one
Thousands of Mortgages

consecutive quarters, to stand at 6 per cent at end-Q4 2018 – the

12%
80 lowest percentage since Q4 2010.
10%
60
8%

40 6%

4%
20
2%
Full Data Set Available Here
0 0%
Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3 Q1 Q3
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
In Arrears 91 to 180 days
In Arrears over 180 days
For
% in Arrears for more than 90 days (RHS) % 3.3% queries contact: statistics@centralbank.ie
Central Bank of Ireland - UNRESTRICTED

Statistical Release
Financial Statistics Summary Chart Pack
Chart 10: Government Liabilities Definition: Government liabilities differ from the Excessive Deficit
Procedure (EDP) measure of debt as it is calculated on a non-
consolidated 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.

Full Data Set Available Here

Information Release Available Here
Note: QGD available from: http://epp.eurostat.ec.europa.eu/

Chart 11: Foreign Claims of Irish-Owned Banks 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
All Foreign Claims
UK Claims sector where the ultimate guarantor of the risk resides.

ROW, 14% Summary: Domestic banks’ largest foreign claims were on the
United Kingdom (including Northern Ireland), with exposures of
€52.4 billion at end-December 2018. These claims are
predominantly vis-à-vis the household and NFC sectors, while
Netherlands, 2% NFCs, 18% exposures to banks and the official sector are relatively small in
Households
UK, 64% , 31% comparison.
Spain, 3%

France, 5%
US, 8%
Internat. Non-bank Financial
Organisations, Banks and Institutions, 6%
3% Ref: Q4 2018 Official Sector,… Full Data Set Available Here

Definition: Statistics on holdings of securities across resident

Chart 12: Securities Holdings Statistics institutional sectors are published by the Central Bank of Ireland on
a quarterly basis. These statistics show the trends in the market
value of holdings (stock) at each quarter-end and cover debt
securities, quoted shares and investment fund shares/units.

Summary: The market value of holdings of securities by Irish

residents stood at €2,851 billion at end-Q4 2018, a decrease of 2.9
per cent over the quarter.
Holdings of debt securities stood at €1,647 billion at end-Q4 2018.
Holdings of government issued securities were €649 billion (or 39
per cent) in Q4 2018, with UK Government debt accounting for
€262 billion (or 40 per cent).
The securities holdings of Irish-resident households with domestic
custodians was €8,255 million in Q4 2018. This represents just 0.3
per cent of the total holdings of Irish residents.

Full Data Set Available Here

For queries contact: statistics@centralbank.ie

Central Bank of Ireland - UNRESTRICTED
Financial Statistics Summary Chart Pack
Chart 13: Value of Irish Resident Investment Fund Shares/Units
Chart 14: Total Assets and Number of Reporting Irish Resident SPEs
For queries contact: statistics@centralbank.ie
Statistical Release
Definition: The value of Irish resident investment funds and inflows
from investors.
Summary: The Net Asset Value (NAV) of Investment Funds (IFs)
resident in Ireland decreased by 6 per cent to €1,934bn during Q4-
2018. This decrease was comprised of outflows of €12bn and
valuation losses of €123bn. Total assets held by Irish IFs decreased
from €2,446bn in Q3-2018 to €2,327bn in Q4-2018.
Equity holding (including shares/units of other funds) decreased to
€1,001bn in Q4-2018 from €1,103bn in Q3-2018. This decrease in
the value of equity holdings was underpinned by decreases in the
equity valuation of non-financial corporations (NFCs), particularly
those in the United States which recorded net sales of just €0.5bn
but net valuation losses of €39bn, a fall of almost 14 per cent.
This is the first quarter in the last five years to witness negative net
flows across investment funds resident in Ireland.
Full Data Set Available Here
Definition: A Special Purpose Entity (SPE) is a legal entity created to
fulfil narrow, specific or temporary objectives. Financial Vehicle
Corporations (FVCs) are SPEs that are set up for the purpose of
carrying out securitisation activities, where these vehicles transfer
the credit risk of an asset. Other Special Purpose Entities (other
SPEs) are vehicles not engaged in securitisation.
Summary: Total assets of Irish-resident SPEs increased by €16.6bn
to €726.8bn in Q4 2018. New vehicles securitising a wide range of
assets are driving this longer-term growth trend.
Within Irish-resident Securitisation SPEs, or Financial Vehicle
Corporations (FVCs), total assets increased by €14.1bn, to €446.6bn
in Q4 2018. This growth was led by the “Other” category*, which
increased by €18.3bn to €150.4bn.
Within Non-Securitisation Irish-resident SPEs, or Other SPEs, total
assets increased by €2.5bn to €280.2bn in Q4 2018. This growth
was led by the “Other” category*, which increased by €3.7bn to
€10.9bn.
Full Data Set Available Here