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The amount of money held in Jersey banks fell by more than 4% in the last three months of last year.
Jersey's Financial Services Commission says the value of bank deposits in the island is now just under £150bn.
But, overall, there was an increase of £9.9bn deposited in Jersey accounts last year, a rise of just over 7%.
The Financial Services Commission says the rise over the whole year reflects the improvement in world financial markets during 2003.
Over two thirds of the money held in accounts in Jersey is in currencies other than pounds sterling, with a sharp increase in the amount of US dollars held in island accounts.
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