Banks' funding from ECB down by 1.5% last month

Friday 11 October 2013 11.49
Irish banks' outstanding loans to ECB fell to €42.6 billion last month
Irish banks' outstanding loans to ECB fell to €42.6 billion last month

Irish banks' reliance on funding from the European Central Bank fell by 1.5% in September from a month earlier, the Central Bank said today.

Outstanding loans slipped to €42.6 billion from €43.3 billion.

The country's banks have trimmed their day-to-day dependence on ECB funding from a high of €187 billion in February 2011 by shrinking their balance sheets and making a tentative return to capital markets.