23rd November 2009 MOVEMENT IN ISLAND’S DEPOSIT BASEDeposits (net of local inter-bank placings) with Isle of Man offices of Isle of Man licensed deposit takers
Deposits decreased by £0.39 billion (-0.73%) to £52.70 billion between 30th June 2009 and 30th September 2009.
Deposits in the year to 30th September 2009 decreased by £1.20 billion (-2.23%) on the corresponding figure as at 30th September 2008.
Enquiries:
Andrew Kermode
Senior Manager - Supervision
Financial Supervision Commission
Tel: +44 (0)1624 689320
Notes to Editors
1) “Deposits” include intra-group borrowing that is not capital in nature.
2) The total figures at 30th September 2009 compared to those at 30th June 2009 have not been materially influenced by exchange rate movements. The quarterly increase in foreign currency deposits, expressed in sterling, was 1.19%, whilst the decrease in sterling denominated deposits was 1.63%. The value of sterling depreciated against both the US dollar and Euro between spot dates of 30th June 2009 and 30th September 2009 by approximately 2.7% and 6.8% respectively. However, the depreciation of sterling has caused an increase in the sterling value of deposits denominated in those major currencies.
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