diff --git a/defaults/initrd.scripts b/defaults/initrd.scripts
index 8181681..ca149e5 100644
--- a/defaults/initrd.scripts
+++ b/defaults/initrd.scripts
@@ -109,6 +109,22 @@ plymouth_newroot() {
 	is_plymouth_started && "${PLYMOUTH_BIN}" --newroot="${1}"
 }
 
+# We should ship the initramfs with modules.dep.bb
+# But current busybox depmod has broken -b support
+# so we can't do that at build time, unless we want
+# to chroot into the initramfs root, which is much more
+# fragile. See bug #472312
+busybox_depmod_workaround() {
+	local depmod_args
+	if [ -n "${DEBUG}" ]
+	then
+		depmod_args="-v"
+	elif [ -n "${QUIET}" ]; then
+		depmod_args="-q"
+	fi
+	depmod ${depmod_args}
+}
+
 modules_load() {
 	for module in $*
 	do
diff --git a/defaults/linuxrc b/defaults/linuxrc
index 4fb241b..09799b5 100644
--- a/defaults/linuxrc
+++ b/defaults/linuxrc
@@ -310,6 +310,13 @@ mount_devfs
 # Mount sysfs
 mount_sysfs
 
+# We should ship the initramfs with modules.dep.bb
+# But current busybox depmod has broken -b support
+# so we can't do that at build time, unless we want
+# to chroot into the initramfs root, which is much more
+# fragile. See bug #472312
+busybox_depmod_workaround
+
 # Setup hotplugging for firmware loading
 if is_udev
 then