Written answers
Thursday, 25 February 2010
Department of Finance
Financial Institutions Support Scheme
5:00 pm
Michael McGrath (Cork South Central, Fianna Fail)
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Question 57: To ask the Minister for Finance the amount of customer deposits on hand, both personal and corporate, at Anglo Irish Bank on the date of the State guarantee scheme on 30 September 2008. [9735/10]
Brian Lenihan Jnr (Dublin West, Fianna Fail)
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According to Anglo Irish Bank's published annual accounts at 30 September 2008, it's consolidated accounts indicate a total of €51,499m in customer deposits, comprising €19,156m in retail deposits, and €32,343m in non-retail deposits. Further detail of the breakdown of Anglo Irish Bank's customer deposits is included in Note 36 to the bank's 30 September 2008 accounts, which I enclose for the Deputy's information.
| Notes to the financial statements continued | ||||||||
| 36. | Customer accounts | The Group | The Bank | |||||
| 2008 | 2007 | 2008 | 2007 | |||||
| €m | €m | €m | €m | |||||
| Repayable on demand | 3,015 | 3,800 | 8,602 | 3,134 | ||||
| Other deposits by customers with agreedmaturity dates | 48,484 | 48,886 | 43,808 | 43,566 | ||||
| 51,499 | 52,686 | 52,410 | 46,700 | |||||
| Amounts include: | ||||||||
| Due to Group undertakings | 6,514 | 933 | ||||||
| Customer type | ||||||||
| Retail deposits | 19,156 | 19,370 | 14,744 | 15,810 | ||||
| Non-retail deposits | 32,343 | 33,316 | 37,666 | 30,890 | ||||
| 51,499 | 52,686 | 52,410 | 46,700 | |||||
| The Group's retail deposits comprise demand, notice and fixed term deposit accounts from personal savers with maturities of up to two years. Non-retail deposits are sourced from commercial entities, charities, public sector bodies, pension funds, credit unions and other non-bank financial institutions. At 30 September 2008 non-retail deposits were more concentrated and shorter in duration than at the prior year end. Information on contractual maturities of customer accounts is contained in note 47. | ||||||||
| In addition, at 30 September 2008 non-retail deposits included €7.3 billion of deposits from Irish Life Assurance plc, a non-bank affiliate of the Irish Life & Permanent group, which matured on or before 3 October 2008. As no right of set-off existed between these deposits and placements which the Group had with Irish Life & Permanent plc (note 22), these non-retail deposits were recorded as liabilities on the Group's balance sheet in accordance with accounting standards. | ||||||||
| Average total customer deposits for the twelve months to 30 September 2008 were €50.1 billion (2007: €45.4 billion). | ||||||||
| The Group's customer accounts include €1,262m (2007: €nil) relating to securities sold under agreements to repurchase. Customer accounts also include €11m (2007: €45m) received from equity-accounted joint venture interests. | ||||||||
| The Bank's customer accounts include €178m (2007: €363m) of deposits held in respect of liabilities to customers under investment contracts (note 38). These deposits eliminate on consolidation in the Group customer accounts balances. |
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