(1) BoI say that deposits have stabilised since the end of November, 2010. This is in line with the IMF February 2011 Staff Report which said “Pressure from corporate deposit outflows have moderated, however, and retail deposits continue to be relatively stable.” Both statements would appear to be at odds with the facts, but what I think might be the correct interpretation is that deposit flight from the six State-guaranteed banks might have been in the €10bn/month zone in late 2010 but that has now moderated to low single digit billions. Information from the Central Bank later this coming week on January 2011 deposits might help clear up the apparent confusion.