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Irish banks' ECB funding falls 4% in October

Central Bank says outstanding ECB loans slipped to €40.8 billion in October from €42.6 billion
Central Bank says outstanding ECB loans slipped to €40.8 billion in October from €42.6 billion

Irish banks' reliance on funding from the European Central Bank eased by 4% in October compared to September, new Central Bank figures show.

Outstanding loans slipped to €40.8 billion from €42.6 billion.

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