Banks have opened helplines and in some cases offered to suspend loan repayments, as the second extreme weather event of the year adds to financial pressure on farmers.

Ulster Bank has reported that it expected to see a change in the use of credit facilities.

“With many farmers now feeding their final days of home sourced fodder, the sourcing of off-farm additional feed continues. Many of these bills are yet to be paid,” a spokesperson for Ulster Bank said, adding that the bank has established a €15m weather fund to support farmers.

Bank of Ireland has also introduced a number of support measures, including the provision of short-term loans and the suspension of principal payments on existing loans.

Each bank urged customers to make contact if experiencing cashflow difficulties.

“What is unique about this year is that all farms have been affected – farmers on heavier land more so in the spring and farmers on drier type soils more so in recent weeks,” Tadhg Buckley, AIB head of agriculture, said.

Buckley said the bank has not seen an increase in the use of overdraft facilities but expects this to change as additional summer feed and fodder bills reach letterboxes.