Banks held €10.2 billion more in household deposits than loans at the end of February.
According to figures from the Central Bank, the loan-to deposit ratio stood at 0.9 in February - matching the lowest level since the series began.
The decrease in the ratio in recent years has occurred due to deposits reaching near series highs, while loans have fallen significantly from the peak just over a decade ago.
In January 2008, household loans exceeded deposits by €71 billion.
It means Irish households are net funders of the Irish banking system.
Mortgage loans - which account for 83% of total on-balance sheet loans - decreased by €148 million in February as householders continue to pay down loans at a greater pace than individuals take them on.
In year-on-year terms, net mortgage lending rose by €121 million, or 0.2%, the fourth consecutive month of annual growth.
Deposits from households increased in net terms by €275 million in February.
Annually, household deposit lodgements were €3.3 billion higher than withdrawals, resulting in growth of 3.4%.
"The February banking data continue to indicate a weak overall credit environment in Ireland," Alan McQuaid, chief economist at Merrion said.
"The bottom line is that credit will need to flow at a much stronger level than currently if the economy is to continue to grow strongly over the long-run," he concluded.
