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5232.0 - Australian National Accounts: Financial Accounts, Dec 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 27/03/2009   
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DECEMBER KEY FIGURES

Credit market outstandings at end
Demand for credit during
Other changes during
Credit market outstandings at end
Sep Qtr 2008
Dec Qtr 2008
Dec Qtr 2008
Dec Qtr 2008



Non-financial domestic sectors
$b
$b
$b
$b

Non-financial corporations
Private
1 892.1
41.2
-178.6
1 754.7
National public
1.1
-0.1
0.0
1.0
State and local public
71.8
5.5
0.0
77.3
General government
National
60.1
0.1
2.7
62.8
State and local
50.8
3.1
0.0
54.0
Households
1 272.6
8.5
0.0
1 281.2
Total
3 348.5
58.4
-175.9
3 231.0


Total demand for credit
Graph: Total demand for credit

Credit market outstandings
Graph: Credit market oustandings




DECEMBER KEY POINTS


SUMMARY
  • Total credit market outstandings of the domestic non-financial sectors at 31 December 2008 was $3,231.0b, a decrease of $117.5b from the previous quarter. Demand for credit during the quarter was $58.4b and valuation decreases were $175.9b.
  • Demand for credit was down $2.3b from the previous quarter, driven by decreased demand by state and local public non-financial corporations (down $4.0b), households (down $2.6b) and private non-financial corporations (down $0.9b). This was offset by an increase in demand by national and state and local general government, $3.0b and $2.2b respectively.


NON-FINANCIAL CORPORATIONS
  • Non-financial corporations raised a net $41.1b, mostly through equity, bonds and loans issuance, net $19.8b, $10.5b and $10.2b respectively.


GENERAL GOVERNMENT
  • State and local general government borrowed net $3.1b in loans.


HOUSEHOLDS
  • Households raised a net $8.5b during the December quarter 2008, down $2.6b from the September quarter 2008 estimate of $11.1b.


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2009 26 June 2009
June 2009 25 September 2009
September 2009 24 December 2009
December 2009 26 March 2010



CHANGES TO THIS ISSUE

Please refer to the note titled 'ABS treatment of internally securitised paper' on page 6.


SIGNIFICANT EVENTS

The global financial crisis has caused changes in the structure and behaviour of financial markets. Sudden shifts in structural relationships which have existed for some time mean that data supplied by businesses to the ABS and ABS editing and compilation practices may not reflect the impact of these changes fully and in a timely manner. The ABS is working with providers and reviewing and updating, where needed, a range of methods relating to the collection and compilation of financial sector output, income, transactions, positions and prices. This process is likely to lead to revisions in future releases.

There were no significant privatisations impacting the aggregates this quarter.


REVISIONS IN THIS ISSUE

There have been revisions back to December quarter 2006 to previously published aggregates due to quality assurance work undertaken with data providers to the ABS Survey of Financial Information, ABS Survey of International Investment and APRA administrative data sets.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Amanda Seneviratne on Canberra (02) 6252 5338.


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