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Deposit trends at the Irish Covered Banks June 2012
The Department of Finance has published the monthly "Deposit trends at the Irish Covered Banks" setting out the consolidated deposit trends at the Covered banks updated to include the deposit flows for the month of June. This document is published at
http://banking.finance.gov.ie/Details
Deposits at covered banks have remained stable through June, which is a positive result in the context of significant uncertainty in Europe.
The data set for June shows that deposits at the Covered Banks rose by €0.6bn (0.4%) month-on-month to circa. €153bn.
The cumulative growth since the start of the year is c.€5.8bn (3.9%). While the rate of growth has moderated during the month, the growth in June is positive.
FX movements also account for some of the growth in non-Euro based deposits.
A look at the monthly trend
The increase during June of €0.6bn follows a rise of €0.9bn in May and brings the year to date increase to ca.€5.8bn - an increase of 3.9%.
Year-on-year deposits have increased by ca. €13bn since the low point of €140bn in June 2011.