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Trends in financing of all Irish-resident entities
Total Irish securities issues – debt and equity
- The outstanding amount of debt securities issued by Irish resident entities (including Government) was €725.7 billion at end-December 2016, which was a fall of 10.6 per cent year-on year. Over the same period, there was no significant change to the outstanding amount of debt securities issued by euro area residents.
- Debt financing for the banking sector stood at €47.6 billion at the end of December 2016, a decrease of €11.8 billion compared to the same month last year.
- Quoted shares had a market capitalisation of €548.4 billion at end-December, which represented a decrease of 4.9 per cent over the year. The value of the stock of quoted shares issued by euro area residents increased by 4.2 per cent over the year to end-December.
At the end of December 2016, the outstanding amount of debt securities issued by the monetary financial institutions (MFI) sector was €47.6 billion, a fall of just over €2 billion since last month – (Charts 1 & 3). Over the year to December 2016, the outstanding amount of bank bonds decreased by 19.9 per cent. This reflected a decrease of nearly €12 billion in long-term debt securities, and a decrease of just over €50 million in short-term debt securities. Long-term debt securities account for 70.7 per cent of the total debt securities issued by the banking sector.
Over the twelve months to end-December, the total outstanding amount of debt securities for the banking sector across the euro area decreased by 3.2 per cent.
The market value of equities in the banking sector in Ireland fell by 27.9 per cent over the year to stand at €22.5 billion as of December 2016 (Charts 2 & 3).
Other Financial Intermediaries
The outstanding amount of debt securities issued by the other financial institutions (OFI)1 sector increased by €4.8 billion in December to stand at €536.5 billion (Charts 4 & 6). This was 12.6 per cent lower compared to December 2015, reflecting a decrease of €77.1 billion. Long term debt securities account for 95.1 per cent of the total debt securities issued by the OFI sector.
Over the past twelve months, the total outstanding amount of debt securities for the OFI sector across the euro area decreased by 3.3 per cent.
In December 2016, the value of the quoted shares in the OFI sector in Ireland was €18.4 billion, a decrease of €24.5 million over the month. There was a decrease of 12.6 per cent over the year (Charts 5 & 6).
The value of the quoted shares in the non-financial corporations (NFC) sector increased by €3.4 billion (0.7 per cent) over the month of December to stand at €507.3 billion. This was a decrease of 3.3 per cent over the year. The December total represents a fall back of €46.5 billion since the high point of July 2015 (Charts 7 & 9).
Over the past twelve months, the total market capitalisation for NFCs equities in the euro area increased by seven per cent.
The outstanding amount of debt securities issued by NFCs increased year-on-year by €5.7 billion to stand at just over €16.4 billion at end December 2016 (Charts 8 & 9).
Detailed tables can be found on the Central Bank of Ireland’s website here. The data are largely compiled from the ESCB Centralised Securities Database.
1 The OFI sector data presented here includes issuance by entities classified within the Financial Auxiliaries (FA) or Captive Financial Institutions (CFI) sectors. Albeit the identified amounts are insignificant at present, it is intended to produce a more complete sectoral disaggregation in the near future.