Ie Financial Statistics Summary Chart Pack

7/27/2019 Ie Financial Statistics Summary Chart Pack

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ontact: [email protected]

06/08/2013

Chart 1: Lending to Irish Resident HouseholdsDefinition: 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.

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.

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.

Chart 2: Lending to Irish Resident Non-Financial Corporations

Chart 3: Lending to Irish Non-Financial Enterprises

Financial Statistics

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%ChangeYear-o

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Total Lending to Households Lending for House Purchase

Lending for Consumption and Other Purposes

Credit to Large

Enterprises

34,581

37%

Credit to SMEs

58,249

63%

Ref: Q1 2013; million

Full Data Set Available Here


http://www.centralbank.ie/polstats/stats/cmab/Documents/ie_table_a.5.1_loans_to_irish_households_-_purpose_and_maturity.xlshttp://www.centralbank.ie/polstats/stats/cmab/Documents/ie_table_a.5_loans_to_irish_private_sector_-_sector_and_maturity.xlshttp://www.centralbank.ie/polstats/stats/cmab/Pages/BusinessCredit.aspxhttp://www.centralbank.ie/polstats/stats/cmab/Pages/BusinessCredit.aspxhttp://www.centralbank.ie/polstats/stats/cmab/Documents/ie_table_a.5_loans_to_irish_private_sector_-_sector_and_maturity.xlshttp://www.centralbank.ie/polstats/stats/cmab/Documents/ie_table_a.5.1_loans_to_irish_households_-_purpose_and_maturity.xls


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Contact: [email protected]

Chart 4: Irish Resident and Non-Resident Private-Sector Deposits

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 activitiesaccount 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 I rish

resident credit institutions.

Definition: Deposits of non-MFI private sector held in banks within

Ireland.

Summary: Following a period of strong growth between 2003 and2006, 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 non-

resident 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.

Chart 5: Interest Rates on Household Loans and Deposits

Chart 6: Credit Advanced by Sector

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 pastnine 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.

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Primary Industries

Manufacturing

Electricity, Gas, Steam and Air

Water Supply, Sewerage, Waste

Wholesale/Retail Trade & Repairs

Transportation and Storage

Hotels and Restaurants

Information and Communication

Business and Administrative

Other Community, Social and

Education

Human Health and Social Work

Extra-Territorial Organisations

million

Financial StatisticsSUMMARY CHART PACK

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%ChangeYear-on

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

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%

Loans Deposits

28%

52%

20%

Property Related

Financial Intermediation

Other

Total: 195 billion Total excl. property related and financial i ntermediation: 39 billion

Ref: Q1 2013



http://www.centralbank.ie/polstats/stats/cmab/Pages/Retail%20Interest%20Rate%20Statistics.aspxhttp://www.centralbank.ie/polstats/stats/cmab/Pages/HouseholdCredit.aspxhttp://www.centralbank.ie/polstats/stats/cmab/Documents/ie_Table%20A.14_Credit_Advanced_to_Irish_Resident_Private-Sector_Enterprises.xlshttp://www.centralbank.ie/polstats/stats/cmab/Documents/ie_Table%20A.14_Credit_Advanced_to_Irish_Resident_Private-Sector_Enterprises.xlshttp://www.centralbank.ie/polstats/stats/cmab/Pages/HouseholdCredit.aspxhttp://www.centralbank.ie/polstats/stats/cmab/Pages/Retail%20Interest%20Rate%20Statistics.aspx


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Chart 7: Household Net WorthDefinition: 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).

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 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.

Chart 8: Household Debt

Chart 9: Mortgage Arrears

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.

Note: Disposable income available from

www.cso.ie


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Financial Assets Housing Assets Liabilities Net Worth

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Debt (LHS) Debt as a % of Disposable Income (RHS)

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2010 2011 2012 2013

ThousandsofMortgages

In arrears 91 to 180 days In arrears over 180 days % in arrears for more than 90 days

Information Release Available Here


Data Set Available Here


http://www.cso.ie/http://www.cso.ie/http://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/polstats/stats/mortgagearrears/Documents/data.xlshttp://www.centralbank.ie/polstats/stats/mortgagearrears/Documents/data.xlshttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://www.cso.ie/


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Chart 10: Government LiabilitiesDefinition: 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.

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.

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.

Chart 11: Foreign Claims of Irish-Owned Banks

Chart 12: Maturity Profile of Irish Long-Term Government Bonds


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billion

Long-Term Securities Loans

Deposits Short-Term Securities

Other QGD

Germany

2%

US

5%

France

4%

Spain

2%

ROW

13%

Credit

Institutions

3bn

Public Sector

8bn

Private Sector

67bn

All Foreign Claims % UK Claims bn

Ref: Q1 2013

Note: QGD available from:

http://epp.eurostat.ec.europa.eu/





May-13 Resident Non-Resident

Breakdown 44% 56%

Amounts due to mature

in:

< 3 Years 18% 19%

3 to 5 years 4% 6%

5 to 10 years 19% 61%

10 to 15 years 8% 12%

> 15 years 51% 2%

Total 100% 100%
http://epp.eurostat.ec.europa.eu/http://epp.eurostat.ec.europa.eu/http://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/polstats/stats/conbs/Documents/ie_consolidated_banking_statistics_foreign_claims.xlshttp://www.centralbank.ie/polstats/stats/sis/Pages/releases.aspxhttp://www.centralbank.ie/polstats/stats/sis/Pages/releases.aspxhttp://www.centralbank.ie/polstats/stats/conbs/Documents/ie_consolidated_banking_statistics_foreign_claims.xlshttp://www.centralbank.ie/polstats/stats/qfaccounts/Pages/Data.aspxhttp://www.centralbank.ie/POLSTATS/STATS/QFACCOUNTS/Pages/releases.aspxhttp://epp.eurostat.ec.europa.eu/


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

Chart 14: No. of Reporting Irish Resident FVCs and Total Assets

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).

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.




576.1

543.8 533.7516.6

499.6481.1

469.4457.2 441.9 450.2

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NumbersRep

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Total Assets (LHS) Number of Reporting Irish Resident FVCs (RHS)

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Transaction Net Inflows (LHS) Value of Investment Funds (RHS)

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2009

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http://www.centralbank.ie/polstats/stats/investfunds/Documents/ie_investment_funds_data.xlshttp://www.centralbank.ie/polstats/stats/fvc/Documents/ie_financial_vehicle_corporations.xlshttp://www.centralbank.ie/polstats/stats/fvc/Documents/ie_financial_vehicle_corporations.xlshttp://www.centralbank.ie/polstats/stats/investfunds/Documents/ie_investment_funds_data.xls

Ie Financial Statistics Summary Chart Pack

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