Financial Aggregates February 2010

Total credit provided to the private sector by financial intermediaries rose by 0.4 per cent over February 2010, following an increase of 0.4 per cent over January. Over the year to February, total credit rose by 1.6 per cent.

Housing credit increased by 0.7 per cent over February, following an increase of 0.7 per cent over January. Over the year to February, housing credit rose by 8.5 per cent. Housing credit rose over February due to growth in lending to both owner-occupiers and investors.

Other personal credit rose by 0.4 per cent over February, following a rise of 0.5 per cent over January. Over the year to February, other personal credit increased by 1.4 per cent.

Business credit declined by 0.1 per cent over February, following a fall of 0.1 per cent over January. Over the year to February, business credit declined by 7.6 per cent.

Over the month of February, M3 rose by 0.7 per cent and broad money increased by 0.9 per cent. Over the year to February, broad money grew by 3.2 per cent.

All growth rates for the financial aggregates are seasonally adjusted, and adjusted for the effects of breaks in the series as recorded in the footnotes to tables. Figures showing the levels of financial aggregates are not adjusted for series breaks. Historical levels and growth rates for the financial aggregates have been revised owing to the resubmission of data by some financial intermediaries, the re-estimation of seasonal factors and the incorporation of securitisation data.