On 25 October the
Central Bank of Cyprus (Κεντρική Τράπεζα της Κύπρου) published statistics for
the month of September regarding deposits and loans at Monetary Financial
Institutions (“MFIs”, i.e., credit institutions) as well as sales of treasury
bills and government-registered development securities (Κρατικά Ονοµαστικά
Χρεόγραφα Αναπτύξεως – KOXA). Here are
the most significant points concerning bank deposits:
· Outstanding deposits held in Japanese yen fell
20.0% over one month, from a total (converted into euros) of € 11.84 mln in
August to a total of € 9.46 mln in September.
(Due to the relatively small amounts involved, such month-to-month
volatility in yen holdings has been rather common over the last 12 months.)
· In the 12 months from October 2011 through
2012, outstanding MFI bank deposits held by Cyprus’s central government fell by
57.6% (€ 357.84 mln → € 151.69 mln), while outstanding deposits held by domestic
and foreign insurance corporations and pension funds grew by 21.4% (€ 3,786.45
mln → € 4,595.60 mln).
· In the 12 months from October 2011 through
2012, outstanding deposits by non-Cyprus euro-area households initially grew
30.6%, from € 4,142.00 mln in October 2011 to € 5,408.69 mln in June 2012, but
subsequently declined 9.6% to reach € 4,935.19 mln in September 2012.
· Information on interest rates on deposits and
loans in September is not due to be released until 1 November 2012 . Nevertheless, deposit interest rates as of
August had remained surprisingly constant for several months, with the interest
rate on new term deposits by households/NPISHs of maturity > 1 year and ≤ 2
years being 4.71%, and the interest rate on new term deposits by non-financial
corporations of maturity ≤ 1 year being 4.14%.
Source: Νομισματικές
και Χρηματοοικονομικές Στατιστικές – Οκτώβριος 2012 (2012-10-25)
Mark Pleas
[contact]
