Do Irish households respond to deposit rates?

Jane Kelly, Nuala O'Donnell, Martina Sherman and Maria Woods
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Nuala O'Donnell: Central Bank of Ireland
Martina Sherman: Central Bank of Ireland
Maria Woods: Central Bank of Ireland

No 02/EL/14, Economic Letters from Central Bank of Ireland

Abstract: The recent nancial crisis highlighted the importance of stable funding and, in particular, customer deposits for the Irish banking sector. To ensure future viability, the domestic banks must maintain and grow their household deposit books. This letter focuses on the Irish household deposit market, describing some of the key developments in this segment during the crisis. It also tests if deposit movements are a ected by di erences in deposit rates across the banks, over the period 2003Q1 through 2013Q2. The key ndings are that Irish householders are sensitive to di erences in rates across the banks, but this relationship only holds in the pre-crisis period (i.e., up to 2007Q4).

Date: 2014-04
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