Irish banks’ reliance on emergency cash declines

IRISH-based banks’ reliance on combined emergency funding from both the European Central Bank (ECB) and the Central Bank of Ireland fell by €5 billion last month.

Aggregate borrowings from both outlets sitting on the books of Irish-based lenders amounted to €148.6bn at the end of October; down from a total of €153.6bn at the end of September.

The latest figures were published yesterday by the Central Bank.