Corporate depositors have vowed to shun Irish banks until fresh capital from the EU/IMF bailout is "in the door", according to market sources.

Major depositors such as banks and large companies, which have pulled tens of billions in funds from Ireland in recent months, are telling brokers they will place the money elsewhere until the banking sector is fully recapitalised.

They said further announcements and promises of action from the Irish government will not be enough to lure them back, brokers said.

"The banks will have to be recapitalised before any element of confidence returns," said Jim Finn, managing director of Treasury Solutions. "It's a case of 'show me the money'."

Central Bank officials also believe wholesale deposits will continue to flow out until there is certainty about the scale and timing of the international rescue package.

Last week, Central Bank governor Patrick Honohan indicated core capital levels at the banks would have to reach at least 12%, up from the 8% level imposed last March, to persuade investors their money would be safeguarded. "Corporate deposits from international money managers are unlikely to return until the banks receive fresh capital," said Jim Ryan of fixed income specialist Glas Securities. "As a starting point it appears that [core capital] ratios will rise to 12%."

Deposits from retail savers are also under pressure, with continued movement of savings from the six guaranteed banks to foreign-owned banks in the market. UK Nationwide is understood to be taking in €10m and 160 new customers per day – five times the normal rate.