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For more information on this release:
E-mail: bop@cso.ie Sarah O'Rourke (+353) 1 498 4306 Christopher Sibley (+353) 1 498 4305
For general information on CSO statistics:
information@cso.ie (+353) 21 453 5000 Visit StatCentral.ie, the portal to Ireland's official statistics On-line ISSN 2009-9312
CSO statistical release, 15 December 2016, 11am

Assets and Liabilities of the Financial Sector

2015

€ billion
Assets20082015
Central Bank (S.121)12178
Monetary Financial Institutions (S.122 + S.123)1,7431,092
Investment Funds (S.124)3421,778
Other Financial Corporations (S.125 + S.126 + S.127)8831,274
Insurance Corporations and Pension Funds (S.128 + S.129)243376
Total Financial Sector (S.12)3,3334,597

Financial Sector assets grew to €4.6 trillion in 2015

Assets and Liabilities of the Financial Sector 2015 Figure 1
go to full release

The balance sheet of financial corporations (S.12) grew markedly since 2013, reversing the trend in the period 2011-2013 of balance sheet contraction in the sector. The growth during the period 2014-2015 was driven primarily by activity in the Investment Funds (S.124) and Other Financial Corporations (S.125 + S.126 + S.127) sectors. The financial assets of sector S.12 increased by €394bn in 2015, while its liabilities grew from €4,245bn to €4,650bn during the same period. The evolution of the financial assets of S.12 from 2006 to 2015 is shown in Figures 1 and 2. 

Central Bank (S.121)Monetary Financial Institutions (S.122+S.123)Non-Money Market Investment Funds (S.124)Other Financial Intermediaries (S.125 + S.126 + S.127)Insurance Corporations and Pension Funds (S.128 + S.129)
200640.5910381454.1215447.61998600334702.670119311054250.522106144638
200753.7061658.239473.9771259391728.096830972769260.32070793476
2008121.0791743.4485342.00704864883.059966427234243.27927511097
2009124.7341631.148460.052942952.178955600913272.30176591083
2010202.3471499.922645.5030821036.9490191859298.84338212025
2011172.9761241.2287818.6479951110.55554890945284.114227494
2012136.2181115.7911017.969920057011001.98324564349296.716526195
2013104.0221000.9681180.33169949584899.554027290452306.508616149
201482.558754215061061.709407886011627.498925977991082.58450180581349.387732553
201578.3951091.950206685591777.537647047741273.79204295147375.745639452

Get the data: StatBank

Significant changes have taken place in the balance sheets of financial corporations in the wake of the global financial crisis over the 2008-2015 period. Some of these changes are apparent in the accounts but some are less evident due to offsetting shifts within the sector.

Central Bank (S.121)
The Central Bank (S.121) sector has seen a dramatic decrease in Currency and Deposits (AF.2) since 2010 and a large increase in Debt Securities (AF.3) in 2013, but with an overall downward trend in assets. In 2015, 81% of total financial assets came from Debt Securities (Figure 3) while 81% of total liabilities are Currency and Deposits (AF.2) with the remainder of liabilities mostly coming from Equity (AF.5). The assets of the Central Bank increased from €54bn in 2007 to €202bn in 2010 mainly as a result of the increased emergency liquidity assistance (ELA) provided to the Irish banking system.

In 2013 the conversion of assets from Currency and Deposits (AF.2) to Debt Securities (AF.3) was a result of securities acquired by the Central Bank following the liquidation of the Irish Bank Resolution Corporation (IBRC). The portfolio of securities was comprised of eight non-amortising Irish Government Floating Rate Notes (FRNs) (€28bn), non-amortising NAMA Bonds (€13bn) and the 5.4% Irish 2025 Government bond acquired by the Bank following the termination of the IBRC’s market repo in February 2013 (€4bn). For further details see Note 16 in the Central Bank Annual Report 2013 (page 122).

Monetary Gold and Special Drawing Rights (SDRs) (AF.1)Currency and Deposits (AF.2) Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Other Accounts Receivable (AF.8)
20060.16431.7437.7530.8550.0720.004
20070.18741.7147.1884.5440.0730
20080.197104.31714.1372.3550.0730
20090.967105.69514.3913.6080.0730
20101.034183.01818.22200.0730
20110.989152.50119.486000
20120.992113.89221.334000
20130.88639.29363.843000
20140.95626.69554.908000
20151.01813.80363.50100.0730

Get the data: StatBank

Monetary Financial Institutions (S.122 + S.123)

The Monetary Financial Institutions sector is made up of deposit-taking corporations such as retail banks, building societies and credit unions (S.122) and Money Market Funds (S.123) but excludes the Central Bank (S.121). The balance sheet of the Monetary Financial Institutions sector contracted during the period 2009-2013, where its assets fell by €742bn and its liabilities by €753bn, as shown in Figures 4 and 5. During 2015 this trend was reversed as financial assets grew by 9.1% and liabilities by 3.1% over their 2013 values. This growth was driven by increased Debt Securities (AF.3) on the assets side and increased investment through Equity (AF.5) on the liabilities side.

The assets and liabilities, which peaked in 2008 at €1,743bn and €1,754bn, have declined to €1,092bn and €1,032bn respectively in 2015 – a reduction of approximately 40% in this period. Part of the decreasing trend over recent years is due to the reclassification of Money Market Funds (S.123). This led to some assets being redefined as Investment Funds (S.124).

Currency and Deposits (AF.2) Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
2006390.038574.203410.91518.71249.31410.94
2007420.135636.643488.04516.99782.513.919
2008479.247676.083499.42619.35457.72111.618
2009450.044656.212452.4518.52534.7219.197
2010440.678578.599421.59620.33731.2627.45
2011376.536457.955334.41719.02436.65416.643
2012294.517464.668297.71117.45228.27813.165
2013257.885420.951269.62118.73920.75213.02
2014276.743494.546237.43216.09627.3769.517
2015276.111528.999221.35526.89626.53912.05

Get the data: StatBank

Currency and Deposits (AF.2) Debt Securities (AF.3)Equity and Investment Fund Shares/Units (AF.5) Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
2006815.791246.801369.74854.77717.74
2007916.16257.985412.87490.9716.857
20081097.71188.843381.89760.59324.635
2009997.98184.945393.56340.83918.988
2010881.857130.675446.51535.47814.474
2011685.416101.648390.4742.29623.119
2012551.79483.284405.84733.83419.17
2013494.13463.057398.95724.92319.997
2014454.06763.058516.23830.45613.024
2015416.48351.435521.57329.58313.005

Get the data: StatBank

Investment Funds (S.124)
The Investment Funds sector (S.124) consists of all collective investment schemes except those classified in the Money Market subsector. The balance sheet of the Investment Funds sector continued to grow during 2015 (Figure 6). Figure 2 shows the change in contribution by S.124 to the overall size of the financial sector balance sheet. During 2015 this contribution increased in absolute terms while continuing to comprise approximately 39% of the total assets. Apart from a drop in balance sheet size during 2008, relating to the financial crisis, the sector has exhibited continuous growth in the intervening period, where its financial assets have grown cumulatively by €1,436bn.
During the period 2008-2015, the Investment Funds sector, excluding Money Market Funds, has increased more than five-fold in size in Ireland. The increase in assets is mainly driven by Debt Securities (AF.3) and Equity and Investment Funds (AF.5), while the liabilities are mainly composed of equity. Part of this increase is due to the reclassification of Money Market Funds (S.123) to Investment Funds (S.124) as discussed above.

Note: The reporting basis of derivatives has changed, making it difficult to differentiate the natural growth in the sector from the change due to data collection methods. In 2014, there was a large increase in Financial Derivatives and Employee Stock Options (AF.7). This movement can partly be attributed to a reclassification relating to the manner in which Investment Funds moved from reporting derivative positions on a gross rather than on a net basis. This technical note provides more detail on Investment Funds data collection.

 

Currency and Deposits (AF.2) Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
200614.499131.961.052289.5275.4975.087
200710.482148.1550.335303.65610.0611.288
200816.62997.7750.435208.44612.9995.723
200920.112150.080.377261.26111.8716.353
201025.053235.0770.314342.34219.01123.706
201144.891357.38116.278346.22419.19834.675
201264.095441.03516.898421.44832.2642.235
201356.753480.79414.688532.57143.42852.098
201458.461559.4915.115689.544228.44476.445
201577.116615.19631.342784.846168.378100.66

Get the data: StatBank

Other Financial Corporations (S.125 + S.126 + S.127)

This sector is composed of Other Financial Intermediaries (S.125), Financial Auxiliaries (S.126) and Captive Financial Institutions and Money Lenders (S.127). Other Financial Intermediaries (S.125) include companies engaged in financial leasing and consumer and other lending, securitisation vehicles, derivative and security dealers, treasury companies and a range of other companies engaged in financial intermediation. The Financial Auxiliaries sector (S.126) covers companies which provide auxiliary financial services and other financial advisory and consultancy services such as loan brokers and investment advisors. They are companies which are principally engaged in activities closely related to financial intermediation but which are not financial intermediaries themselves. The balance sheet of S.126 is considerably smaller than the sectors S.125 and S.127. The Captive Financial Institutions sector (S.127) consists of financial corporations which are neither engaged in financial intermediation nor in providing financial auxiliary services. These include trusts, special purpose entities, money lenders, treasuries, certain types of sovereign wealth funds, and holding companies that simply own the assets of subsidiaries.

Currency and Deposits (AF.2) Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
200618.54648.519510.749103.3655.84115.649
200726.32775.751496.322106.5820.96322.151
200823.848185.559562.64480.82610.4119.773
200932.151197.573580.115123.2561.73217.352
201036.411221.995610.164154.155-0.40614.63
201132.013232.866661.11168.4641.09815.003
201220.215215.221638.725115.986-0.02511.861
201317.768165.972550.74120.0263.06541.984
201426.257174.516717.213116.486-1.46949.582
201545.219198.856779.013194.2746.16450.266

Get the data: StatBank

The Other Financial Corporations sector saw an increasing trend in balance sheet growth over the period 2006-2011 (Figures 7 and 8).  In 2012 and 2013 the sector underwent a contraction in its balance sheet mainly due to a reduction in Debt Securities (AF.3). This trend was reversed in 2014 and 2015 with an increase in AF.3 assets. While the liabilities are largely made up of Debt Securities (AF.3) and Loans (AF.4), the assets are dominated by Loans (AF.4), in the most part held by treasury companies. These are often set up in Ireland to fund the financial activities of related multinationals in Ireland and Europe.

Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
2006269.934238.69695.5422.58616.992
2007304.845257.19283.4972.36710.898
2008477.889314.72785.489-2.16717.004
2009494.351363.81496.8773.87418.184
2010527.407374.002106.0684.11119.494
2011537.497402.186118.9812.75321.32
2012522.676358.61383.44911.01113.889
2013331.019359.475.9741.95385.084
2014433.407394.907175.2911.26995.391
2015523.589510.131229.954-0.0796.343

Get the data: StatBank

Insurance Corporations and Pension Funds (S.128 + S.129)

The Insurance Corporations (S.128) and Pension Funds (S.129) sector has seen an overall upward movement in balance sheet growth over the period 2006-2015 (Figure 9). The increase in 2015 on the assets side was driven by Equity and Investment Fund Shares (AF.5). Most of the liabilities are to households which are categorised as Insurance, Pension and Standardised Guarantee Schemes (AF.6). AF.6 includes non-life insurance technical reserves, life insurance and annuity entitlements, and pension entitlements.

Currency and Deposits (AF.2) Debt Securities (AF.3)Loans (AF.4)Equity and Investment Fund Shares/Units (AF.5) Insurance, Pension and Standardised Guarantee Schemes (AF.6)Financial Derivatives and Employee Stock Options (AF.7)Other Accounts Receivable (AF.8)
200616.73252.4114.319136.19327.8020.912.165
200717.88958.5323.392131.57835.2210.77112.938
200822.34964.0533.41299.18238.0561.78914.439
200922.26169.1824.134120.48241.91.59312.75
201022.92873.7454.348136.19344.0551.6515.924
201123.58880.2334.597126.99129.9782.43316.294
201225.44483.2762.785138.20328.3522.46116.196
201324.06179.531.29156.92926.6981.76816.232
201424.09188.7961.515182.3231.9912.44318.232
201527.15992.4231.349196.76333.7341.78622.532

Get the data: StatBank

The AF.6 classification on the asset side of the balance sheet also covers reinsurance data for Ireland. Here an insurer may protect against an unexpectedly large number of claims, or exceptionally heavy claims, by taking out a reinsurance policy with a reinsurer. Reinsurance corporations are concentrated in a limited number of financial centres, and so many of the reinsurance flows are transactions with the rest of the world.

EU Comparison

The 2015 balance sheet assets for S.12, as a percentage of GDP, are shown for selected EU countries in Figure 10. The graph shows the importance of Ireland’s financial sector to the Irish economy. Taking financial sector assets as a percentage of GDP, Ireland ranks as the third highest country in Europe, with Luxembourg and Malta being first and second highest respectively. The value of financial assets, as a percentage of GDP, for Luxembourg is 26,597. It is excluded from Figure 10 to allow a better comparable view of other selected EU countries. 

Selected European Countries
Malta2744
Ireland1797.2
Cyprus1692.3
Netherlands1452.7
United Kingdom1086.9
Denmark797.6
France614
Belgium577.4
Sweden566.3
Germany457.6
Portugal457.5
Spain402.8
Finland402.8
Italy389.6
Greece335

Get the data: Eurostat database

We may also look at the absolute size of the Irish Financial Sector relative to other EU countries, this is shown in Figure 11. Here Ireland is mid-table, with a financial sector that is smaller than countries such as the United Kingdom, Germany and France but substantially larger than Belgium, Denmark or Finland. 

Selected European Countries
United Kingdom27.7023721
Germany13.877732
Luxembourg13.8602721
France13.392397
Netherlands9.828027
Italy6.398443
Ireland4.597421
Spain4.332784
Sweden2.5763497
Belgium2.3638706
Denmark2.1224331
Finland0.842452
Portugal0.8214604
Greece0.5886049
Cyprus0.2984691
Malta0.2411536

Get the data: Eurostat database

Table 1a Financial Balance Sheet, end-years 2011-2015, non-consolidated€ million
 Institutional sector (ESA2010)
 S.12 Financial Corporations
 TotalS.121S.122 + S.123S.124S.125 + S.126 + S.127S.128 + S.129
Financial Assets Central bankOther monetary financial institutionsNon-money market investment fundsOther financial intermediaries, financial auxiliaries, captive financial institutions & money lendersInsurance corporations & pension funds
       
AF.1 Monetary Gold and Special Drawing Rights (SDRs)
20119899890000
20129929920000
20138868860000
20149569560000
20151,0181,0180000
AF.11 Monetary Gold
20112352350000
20122442440000
20131591590000
20141801800000
20151891890000
AF.12 SDRs
20117547540000
20127487480000
20137277270000
20147767760000
20158298290000
AF.2 Currency and Deposits
2011629,529152,501376,53644,89132,01323,588
2012518,162113,892294,51764,09520,21525,444
2013395,76039,293257,88556,75317,76824,061
2014412,24726,695276,74358,46126,25724,091
2015439,40813,803276,11177,11645,21927,159
AF.21 Currency
20111,94811,947000
20121,11501,115000
20131,21911,218000
20141,17401,174000
20151,33801,338000
AF.22 Transferable Deposits
2011102,1811,23375,596021,5373,815
201281,35349663,027012,9264,904
201373,507054,238014,6324,637
2014106,433083,515018,4214,496
2015112,7902,81884,581016,0659,326
AF.29 Other Deposits
2011525,400151,267298,99344,89110,47619,772
2012435,694113,396230,37564,0957,28920,540
2013321,03439,292202,42956,7533,13719,424
2014304,64026,695192,05458,4617,83619,595
2015325,28010,985190,19277,11529,15417,834
AF.3 Debt Securities
20111,147,92119,486457,955357,381232,86680,233
20121,225,53521,334464,668441,035215,22183,276
20131,211,09063,843420,951480,794165,97279,530
20141,372,25554,908494,546559,490174,51688,796
20151,498,97563,501528,999615,196198,85692,423
AF.31 Short-term Debt Securities
2011323,4488,628181,96778,61246,2567,985
2012335,4347,857201,37282,28535,0478,873
2013343,00919,862173,90696,62144,2058,415
2014415,9987,503283,84366,43949,9218,292
2015457,2864,004336,26243,51363,7889,719
AF.32 Long-term Debt Securities
2011824,47410,858275,988278,769186,61072,248
2012890,10113,477263,296358,750180,17574,403
2013868,08143,981247,045384,173121,76771,115
2014956,25747,405210,703493,051124,59580,504
20151,041,69059,497192,737571,683135,06982,705
AF.4 Loans
20111,012,9970334,41716,278661,1104,597
2012956,1190297,71116,898638,7252,785
2013836,3390269,62114,688550,7401,290
2014971,2750237,43215,115717,2131,515
20151,033,0590221,35531,342779,0131,349
AF.41 Short-term Loans
2011204,929062,29016,240128,4281,316
2012235,506060,7826,792166,7931,138
2013200,780070,7775,945123,085973
2014201,396064,3079,700126,3181,072
2015216,043051,0650163,989989
AF.42 Long-term Loans
2011808,0680272,12738532,6823,281
2012720,6130236,92910,105471,9321,647
2013635,5580198,8448,742427,655317
2014769,8790173,1255,415590,895444
2015817,0160170,29031,342615,024360
AF.5 Equity and Investment Fund Shares/Units
2011660,704019,024346,224168,464126,991
2012693,089017,452421,448115,986138,203
2013828,265018,739532,571120,026156,929
20141,004,446016,096689,544116,486182,320
20151,202,8517326,896784,846194,274196,763
AF.51 Equity
2011518,303018,135269,762168,46461,941
2012531,556017,022330,951115,98667,597
2013624,088018,301410,792120,02674,969
2014719,101016,096503,656116,48682,862
2015862,5227326,312576,526177,51082,102
AF.511 Listed Shares
2011335,49505,632269,76224559,856
2012392,5400562327,1364964,793
2013480,2870570408,8804770,790
2014582,7540597503,62820778,321
2015668,590010,660575,8524,89077,188
AF.512 Unlisted Shares
2011180,739012,5030168,21917
2012134,701014,1633,748115,937852
2013141,083017,731857119,9792,516
2014134,824015,49928116,2793,018
2015192,6007315,651675172,6203,581
AF.519 Other Equity
20112,06800002,068
20124,31602,2976701,952
20132,719001,05501,664
20141,52300001,523
20151,33300001,333
AF.52 Investment Fund Shares/Units
2011142,401088976,462065,050
2012161,533043090,497070,606
2013204,1760438121,779081,959
2014285,34500185,888099,457
2015340,3290584208,31916,764114,661
AF.6 Insurance, Pension and Standardised Guarantee Schemes
201129,978000029,978
201228,352000028,352
201326,698000026,698
201431,991000031,991
201533,734000033,734
AF.61 Non-life Insurance Technical Reserves
201129,978000029,978
201228,352000028,352
201326,698000026,698
201431,991000031,991
201533,734000033,734
AF.62 Life Insurance and Annuity Entitlements
2011000000
2012000000
2013000000
2014000000
2015000000
AF.63+AF.64+AF.65 Pension Entitlements, Claims of Pension Funds on Pension Managers, Entitlements to Non-Pension Benefits
2011000000
2012000000
2013000000
2014000000
2015000000
AF.66 Provision for Calls under Standardised Guarantees
2011000000
2012000000
2013000000
2014000000
2015000000
AF.7 Financial Derivatives and Employee Stock Options
201159,383036,65419,1981,0982,433
201262,973028,27832,260-252,461
201369,013020,75243,4283,0651,768
2014256,794027,376228,444-1,4692,443
2015202,867026,539168,3786,1641,786
AF.71 Financial Derivatives
201159,383036,65419,1981,0982,433
201262,973028,27832,260-252,461
201369,013020,75243,4283,0651,768
2014256,794027,376228,444-1,4692,443
2015202,867026,539168,3786,1641,786
AF.72 Employee Stock Options
2011000000
2012000000
2013000000
2014000000
2015000000
AF.8 Other Accounts Receivable
201182,616016,64334,67515,00316,294
201283,456013,16542,23511,86116,196
2013123,334013,02052,09841,98416,232
2014153,77609,51776,44549,58218,232
2015185,508012,050100,66050,26622,532
AF.81 Trade Credits and Advances
201119,3450132011,1198,094
201214,35807305,4488,837
201316,446030507,4728,669
201418,50807308,35810,077
201519,5970007,99611,601
AF.89 Other Accounts Receivable/Payable excluding Trade Credits and Advances
201163,271016,51134,6753,8858,200
201269,098013,09242,2356,4137,359
2013106,888012,71552,09834,5117,563
2014135,26709,44476,44541,2248,155
2015165,911012,050100,66042,27010,931
AF.A Total Financial Assets
20113,624,118172,9761,241,229818,6481,110,556284,114
20123,568,679136,2181,115,7911,017,9701,001,983296,717
20133,491,384104,0221,000,9681,180,332899,554306,509
20144,203,73982,5591,061,7091,627,4991,082,585349,388
20154,597,42178,3951,091,9501,777,5381,273,792375,746
Table 1b Financial Balance Sheet, end-years 2011-2015, non-consolidated€ million
 Institutional sector (ESA2010)
 S.12 Financial Corporations
 TotalS.121S.122 + S.123S.124S.125 + S.126 + S.127S.128 + S.129
Liabilities Central bankOther monetary financial institutionsNon-money market investment fundsOther financial intermediaries, financial auxiliaries, captive financial institutions & money lendersInsurance corporations & pension funds
       
AF.1 Monetary Gold and Special Drawing Rights (SDRs)
2011000000
2012000000
2013000000
2014000000
2015000000
AF.11 Monetary Gold
2011000000
2012000000
2013000000
2014000000
2015000000
AF.12 SDRs
2011000000
2012000000
2013000000
2014000000
2015000000
AF.2 Currency and Deposits
2011857,531172,115685,416000
2012686,258134,464551,794000
2013594,330100,196494,134000
2014522,07368,006454,067000
2015479,58363,101416,483000
AF.21 Currency      
201112,97812,9780000
201211,08911,0890000
201311,18511,1850000
201413,33113,3310000
201516,68516,6850000
AF.22 Transferable Deposits
2011122,7540122,754000
2012119,1480119,148000
2013133,9870133,987000
2014100,7840100,784000
2015105,1710105,172000
AF.29 Other Deposits
2011721,799159,137562,662000
2012556,021123,375432,646000
2013449,15889,011360,147000
2014407,95854,675353,283000
2015357,72746,416311,311000
AF.3 Debt Securities
2011639,1450101,6480537,4970
2012605,960083,2840522,6760
2013394,076063,0570331,0190
2014496,465063,0580433,4070
2015575,024051,4350523,5890
AF.31 Short-term Debt Securities
201122,805014,48808,3170
201239,325015,395023,9300
201330,896010,703020,1930
201429,029012,004017,0250
201540,286014,049026,2370
AF.32 Long-term Debt Securities
2011616,340087,1600529,1800
2012566,635067,8890498,7460
2013363,181052,3540310,8270
2014467,436051,0540416,3820
2015534,738037,3860497,3520
AF.4 Loans
2011405,917006,475402,1863,855
2012385,2330022,463358,6134,156
2013399,9380037,032359,4003,506
2014416,2830017,556394,9073,820
2015551,7760037,558510,1314,086
AF.41 Short-term Loans
2011241,703005,982235,034686
2012243,9960020,049223,172775
2013248,2070033,050214,711446
2014244,4710012,447231,506518
2015322,6520028,277293,890485
AF.42 Long-term Loans
2011164,21500493167,1523,169
2012141,237002,414135,4413,381
2013151,731003,982144,6893,059
2014171,813005,110163,4023,301
2015229,124009,281216,2413,601
AF.5 Equity and Investment Fund Shares/Units
20111,308,3603,154390,470768,667118,98127,088
20121,451,7092,268405,847931,75183,44928,393
20131,574,1203,699398,9571,069,71975,97425,771
20142,007,47912,721516,2381,275,172175,29128,057
20152,229,20014,583521,5731,432,189229,95430,901
AF.51 Equity
2011254,3803,154105,1570118,98127,088
2012223,9862,268109,876083,44928,393
2013230,4243,699124,980075,97425,771
2014329,27012,721113,2010175,29128,057
2015330,44314,58355,0050229,95430,901
AF.511 Listed Shares
20118,19508,195000
20128,72608,726000
201314,261014,261000
201424,820024,820000
201532,059032,059000
AF.512 Unlisted Shares
2011246,1853,15496,9620118,98127,088
2012215,2612,268101,150083,44928,393
2013216,1633,699110,719075,97425,771
2014304,45012,72188,3810175,29128,057
2015298,38514,58322,9460229,95430,901
AF.519 Other Equity
2011000000
2012000000
2013000000
2014000000
2015000000
AF.52 Investment Fund Shares/Units
20111,053,9800285,313768,667-00
20121,227,7220295,971931,75100
20131,343,6960273,9771,069,71900
20141,678,2090403,0371,275,17200
20151,898,7570466,5681,432,18900
AF.6 Insurance, Pension and Standardised Guarantee Schemes
2011244,5220000244,522
2012257,8190000257,819
2013264,9480000264,948
2014305,8050000305,805
2015328,0350000328,035
AF.61 Non-life Insurance Technical Reserves
201134,951000034,951
201241,928000041,928
201336,949000036,949
201442,138000042,138
201544,679000044,679
AF.62 Life Insurance and Annuity Entitlements
2011139,0720000139,072
2012135,5910000135,591
2013136,4990000136,499
2014158,4670000158,467
2015167,5560000167,556
AF.63+AF.64+AF.65 Pension Entitlements, Claims of Pension Funds on Pension Managers, Entitlements to Non-Pension Benefits
201170,499000070,499
201280,300000080,300
201391,500000091,500
2014105,2000000105,200
2015115,8000000115,800
AF.66 Provision for Calls under Standardised Guarantees
2011000000
2012000000
2013000000
2014000000
2015000000
AF.7 Financial Derivatives and Employee Stock Options
201155,127042,29610,0782,7530
201279,755033,83434,91111,0110
201367,190024,92340,3141,9530
2014252,173030,456220,4481,2690
2015191,439029,583161,926-700
AF.71 Financial Derivatives
201155,127042,29610,0782,7530
201279,755033,83434,91111,0110
201367,190024,92340,3141,9530
2014252,173030,456220,4481,2690
2015191,439029,583161,926-700
AF.72 Employee Stock Options
2011000000
2012000000
2013000000
2014000000
2015000000
AF.8 Other Accounts Receivable
201191,577023,11933,50221,32013,635
201275,640019,17029,22513,88913,356
2013153,515019,99733,74885,08414,686
2014244,906013,024121,20495,39115,286
2015294,532013,005168,15696,34317,028
AF.81 Trade Credits and Advances
201122,85800015,1557,703
201215,7350008,2947,441
201318,99500010,6358,360
201427,38700018,0999,288
201530,25400021,0909,164
AF.89 Other Accounts Receivable/Payable excluding Trade Credits and Advances
201168,719023,11933,5026,1655,933
201259,905019,17029,2255,5955,915
2013134,520019,99733,74874,4496,326
2014217,520013,024121,20477,2935,998
2015264,278013,005168,15675,2537,864
AF.L Total Liabilities
20113,602,180175,2691,242,949818,7221,082,738289,101
20123,542,374136,7321,093,9291,018,350989,638303,725
20133,448,118103,8951,001,0681,180,812853,431308,911
20144,245,18580,7271,076,8431,634,3811,100,267352,967
20154,649,58977,6841,032,0791,799,8291,359,947380,051
BF.90 Financial Net Worth
201121,938-2,293-1,721-7427,817-4,986
201226,305-51421,862-38012,345-7,008
201343,267127-100-48046,123-2,402
2014-41,4461,832-15,134-6,882-17,682-3,579
2015-52,16971159,872-22,291-86,155-4,305

Background Notes

This publication is consistent with the Institutional Sector Accounts publication published by the CSO in November 2016. Here we highlight the importance of the Financial Corporations sector which is presented on a subsector by subsector basis and the commentary emphasises the time series behaviour across subsectors. The Financial Transaction account data can be found on the StatBank.


The Financial Balance Sheet (non-consolidated) account shows the stock at the end of each year of the financial assets and liabilities of the sector. A change in balance sheet position from year to year can be explained in part by the net transactions during that year. In addition, valuation changes, exchange rate changes and reclassifications can impact on the balance sheet position. The consolidated account data is available on the StatBank.

S.12 Financial Corporations are corporate bodies producing financial services on a commercial basis. They can take various legal forms, with a range of ownership arrangements. Further details of the subsectors of S.12 and the financial instrument classes are provided here.

Note, however, that estimates are not available of the stock of non-financial assets (property, equipment, valuables and intangible non-financial assets) and it is not therefore possible to estimate the net worth of each sector or of the total economy.

For more detailed information see Methodology Documents.

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