First deposits by maturity:
Clearly, longer term maturity is exiting, medium term maturity deposits are now shrinking as well, while short term maturity deposits remain steady. This suggests that
- Irish depositors are exiting Irish banks when longer term savings mature;
- Irish pool of savings available for investment - remember, banks can more safely lend out of longer maturity deposits than out of shorter maturity ones (lower risk of maturity mismatch) - is also shrinking.
- Overall, overnight deposits have increased 2.11%mom in December 2010, but fell 4.35% yoy
- Up to 3 months deposits fell 4.33% in December 2010 mom and 2.77% yoy
- Up to 2 years deposits fell 9.64% mom and 17.32% yoy.
On credit cards, the picture is What the data suggests is:
- Irish credit cards balances are declining, but this decline is relatively mild - down 0.81% mom in December 2010 (latest data) and -6.28% yoy.