Further signs Irish banking system is stabilising

There are further signs the Irish banking system is stabilising with deposit volumes unchanged in June compared with the previous month at €152.03bn, according to the Department of Finance.

Drawings from the ECB by Permanent TSB, AIB and Bank of Ireland continued to fall in June to stand at €34.76bn at the end of the month.

Banks operating in Ireland — both the covered and non-covered banks — continue to reduce their borrowing from the ECB.