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Deposits at Irish banks stable during September

Deposits at covered banks stood at €154.3 billion last month
Deposits at covered banks stood at €154.3 billion last month

Deposits at Irish banks were largely stable in September while their dependence on European Central Bank borrowing continued to decline, according to the Department of Finance.

There was €154.3 billion held in deposit by Bank of Ireland, AIB and Permanent TSB during the month, €1.6 billion higher than in August.

Meanwhile, the department says that banks operating in Ireland continued to reduce their use of ECB borrowings during the month, which fell €700 million to €42.6 billion.

The Department of Finance said this was the lowest level since September 2008.