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Payday Loan Advice service: If deposits fall in February at 2.079 million .. just wait the March data

Saturday, September 21, 2013

If deposits fall in February at 2.079 million .. just wait the March data

Bank deposits of residents in Spain have dropped in February at 2.079 million euros compared to the previous month and have scored his second consecutive decline , corresponding to the first two months of the year, according to provisional data released by the Bank of Spain .

Specifically , the Spanish deposits totaled 1.484 billion euros in February 2013 , compared to 1.575 billion a year ago. Thus, reduced bank deposits saw the Spanish residents in the last twelve months of 2012 at about 91.117 million .

All Quiet :

Seem to think we have no memory and have already appeared the first financial industry sources indicate that this decrease is equivalent to February seasonal effect is already felt in the first month of the year when normally the deposits are reduced because that citizens have less money to spend , so there is a reduction in demand accounts .

Moreover, this decline unlinked communication that the Bank of Spain moved to financial institutions to restrain the return of their deposits under the threat of being penalized.

In the chart you can see the drop in deposits that we had last July 2012. At that time we also sold the same bike :

At the time , Secretary of State for Economic and Business Support , Fernando Jiménez Latorre, assured us that the Government had detected a " significant withdrawal " of deposits in Spain and part of the fall was due to seasonal factors , and companies had to pay taxes the day after the end of the quarter , so we have resorted to deposits in July to meet these payments. For families in July and August also have a seasonal spending for vacation , which explains the withdrawal of bank deposits.

For despite that July 2012 was a purely seasonal factor seems to have become the norm since we never get that level .

Meanwhile , deposits in Spain of residents in other states of the Economic and Monetary Union grew by 3.756 million , for a total of 37.856 million . This represents an increase of 11% compared to January.

Said the interesting fact to begin to see the impact it has had the rescue, confiscation and deposits in Cyprus playpen between the Spanish begin to see with the data of March and April , even if you tell us that if there is a fall is due to a purely seasonal ... Easter effect .

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