Movement in Island's Deposit Base

Published on: 08 September 2017

Deposits (net of local inter-bank placings) with Isle of Man offices of Isle of Man licensed deposit takers

Deposits decreased by £3.30 billion (-8.30%) to £36.44 billion between 31 March 2017 and 30 June 2017.

Deposits in the year to 30 June 2017 fell by £5.14 billion (-12.36%) on the corresponding figure as at 30 June 2016.

Enquiries:

Andrew Kermode

Head of Division – Banking, Funds & Investments

Tel: +44 (0)1624 689320

Notes to Editors

1) “Deposits” include intra-group borrowing that is not capital in nature.

2) The Alternative Banking Regime came into force on 1 August 2016. The figures relate to Class 1(1) banks only. No Class 1(2) licences had been issued as at 30 June 2017.

3) As at 30 June 2017 foreign currency deposits comprised 41.75% (£15.21bn) of total deposits (31 March 2017: 43.79% (£17.40bn)) as expressed in sterling equivalent. These deposits are primarily denominated in US dollars and Euro. The figures at 30 June 2017 compared to those at 31 March 2017 are influenced by exchange rate movements on a total foreign currency basis (GBP strengthened against USD by 4.00%, and weakened against EUR by 2.56%).