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Households net funders of banking system for seven consecutive months - Central Bank

Banks held €6.8 billion more household deposits than loans at the end of November
Banks held €6.8 billion more household deposits than loans at the end of November

Irish households continued to be net funders of the banking system here for the seventh consecutive month in November, new figures from the Central Bank show.

Banks held €6.8 billion more household deposits than loans at the end of November.

This compares with loans exceeding deposits by €53.5 billion in early 2009.

On the mortgage front, loans declined by €150m between November 2015 and the same month this year, while households have paid €1.2 billion more than was advanced during the year.

Meanwhile, the data also show household deposits fell during the month as households withdrew €1 billion more than they lodged.

However, the Central Bank said the movement is a seasonal effect and is “in-line with similar net withdrawals” seen in the lead-up to the Christmas period in 2014 and 2015.