The increase in deposits was reflected in most banks' deposit bases with a number increasing strongly. With the exchange rates of the major currencies held by banks on the Island moving in opposite directions between the last two reporting dates, the overall impact upon converting non-sterling deposits to sterling was mildly beneficial. The split between sterling and currency remains 32/68 per cent.
One new banking licence was issued late in the quarter with Deutsche Bank AG setting up a subsidiary on the Island. This would not have had any effect on the overall figures yet. No licences were surrendered.
A table showing deposits since 1980 [direct all enquiries to Peter Crook, Director General on tel: (01481) 712706] as of 8 May 1997.
DEPOSITS WITH LICENSED DEPOSIT-TAKERS END PERIOD NO. OF LICENSED DEPOSITS QUARTERLY YEARLY INSTITUTIONS £Mn VARIATION VARIATION % % 1980 43 1,800 1986 52 9,508 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 June 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 June 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 1996 Mar 75 45,897 -2.0 June 76 44,917 -2.1 Sept 75 43,832 -2.4 Dec 72 43,324 -1.2 1997 Mar 73 45,652 * 5.4 * of which £1.858 million constitutes local interbank deposits
For further information contact Peter Crook on Tel: +44 (0) 1481 712706 or visit the Guernsey Financial Services Commission Web Site at:
http://gfsc.guernseyci.com