Most of the banks saw some increase in deposits with a couple in particular increasing quite sharply. Interbank lending, responsible for most of the fall in the previous quarter, rose by £365 million and movements in the exchange rate also accounted for part of the rise as over the quarter sterling weakened considerably against the dollar. Deposits increased by a proportion of seven in foreign currencies to three in sterling but the split of the total deposits remains around 75% in currency to 25% in sterling.
One new banking licence was issued during the quarter when Skipton Building Society opened a subsidiary but would not have had any effect on the overall figures yet. On the other side one licence was surrendered when BATIF International Limited closed down its operation. This too had little effect on the figures as the operation was not very large and depositors had been paid back over the course of the past year.
A table showing deposits since 1980 is attached.
Deposits with licensed deposit-takers
End No. of licensed Deposits Quarterly Yearly
Period institutions £Mn Variation Variation
% %
1980 43 1,800 68.2
1981 42 2,691 49.5
1982 41 3,307 22.9
1983 41 4,243 28.3
1984 45 5,838 37.6
1985 47 7,209 16.7
1986 52 9,508 31.9
1987 54 8,838 -7.0
1988 56 10,168 15.0
1989 58 12,992 27.8
1990 Mar 66 13,387 3.0
June 68 13,469 0.6
Sept 70 14,522 7.8
Dec 72 15,476 6.6 19.1
1991 Mar 72 16,203 4.7
Jun 72 16,829 3.9
Sept 71 16,156 -4.0
Dec 72 16,250 0.6 5.0
1992 Mar 73 17,849 9.8
June 72 17,673 -1.0
Sept 73 21,226 20.1
Dec 76 27,442 29.3 68.9
1993 Mar 73 30,299 10.4
June 74 32,605 7.6
Sept 75 37,595 15.3
Dec 75 37,482 -0.3 36.6
1994 Mar 74 37,773 0.8
Jun 73 40,320 6.7
Sept 73 41,439 2.8
Dec 73 42,191 1.8 12.6
1995 Mar 72 43,018 2.0
June 73 45,207 5.1
Sept 73 44,437 -1.7
Dec 73 46,855* 5.4 11.1
Note : Deposit figures prior to 1985 do not include deposits with clearing banks' branches. The increase of 16.7 per cent for 1985 is the increase in deposits with non-clearing banks.
* of which £3,348 mn constitutes local interbank deposits.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Peter Crook, Director General, Tel:(01481) 712801,Fax:(01481) 712010 (International dialling: 44-1481.
Visit the Guernsey Financial Services Commission Web Site at Click Contact Link
