Irish households owing less and saving less

This is a quick overview of the current status of the deposits and indebtedness of Irish households.

INDEBTEDNESS

June	Mortgages €M	Other Loans €M	Total €M
2010	107,677	32,514	140,191
2009	114,306	33,637	147,943
2008	121,260	30,030	151,290
2007	116,434	27,728	144,162
2006	104,897	23,743	128,640

The mortgage figure does not include €37.8 billion outstanding in respect of securitised mortgages.  While overall indebtedness is €10 billion less than it was in June 2008, it is €12 billion higher than it was was in June 2006 and this trend must be seen in the context of a severe increase in unemployment.

DEPOSITS

June	Deposits €M	Monthly Transactions  €M	Ratio of Deposits to Loans outstanding
2010	97,253	-581	69.3%
2009	98,462	-135	66.5%

 

Household deposits are €1.2 billion less in June 2010 than in June 2009.

The negative monthly transactions in each of these months can be viewed in the context of increases in deposits in the prior three years.  Deposits increased by €124 million in June 2008; by €634 million in June 2007 and by €1,572 million in June 2007.