Australian National Accounts: Finance and Wealth

Latest release

National, public and private corporations, government and household financial and capital accounts, and household balance sheets.

Reference period

March 2024

Released

27/06/2024

Key statistics

Household wealth increased $431.5b (2.7%) to $16,208.3b.
Demand for credit was $101.0b.
Australia returned to a net borrowing position of $8.3b this quarter, following a net lending position of $8.5b in the previous quarter.
Capital investment as a proportion of GDP fell to 24.0%.

Main features

Financing resources and investment table

Financing resources and investment March quarter 2024, original, current prices, $b
	Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Financing resources
	Net saving (a)	-14.7	24.5	8.6	2.5	20.9	4.9
	plus Consumption of fixed capital	59.0	3.7	15.0	47.2	125.0	-
	Gross saving	44.3	28.2	23.6	49.7	145.9	4.9
	plus Net capital transfers	0.5	0.0	-1.6	0.9	-0.1	0.1
	less Statistical discrepancy (b)	-	-	-	-	1.7	-
	Total financing resources	44.8	28.2	22.1	50.6	144.1	5.0
Uses of financing (investment)
	Capital formation
		Gross fixed capital formation	72.0	3.1	23.3	47.8	146.2	-
		plus Changes in inventories	1.9	0.0	0.2	0.8	2.9	-
		plus Net acquisition of non-produced non-financial assets	-0.6	-	0.4	-	-	-
		Total capital formation	73.3	3.1	23.9	48.6	148.9	-
	plus Financial investment
		Acquisition of financial assets	50.2	-87.5	21.4	48.7	-108.8	-100.5
		less Incurrence of financial liabilities	65.1	-79.2	20.6	34.5	-100.5	-108.8
		Net Financial investment (Net lending (+) / net borrowing (-))	-14.9	-8.3	0.8	14.1	-8.3	8.3
	less Net errors and omissions	13.6	-33.4	2.7	12.1	-3.4	3.4
	Total investment	44.8	28.2	22.1	50.7	144.1	4.9

Financial market summary table

Financial market summary, $b
		Amounts outstanding, Dec-23	Transactions, Mar-24	Other changes, Mar-24	Amounts outstanding, Mar-24
Currency and deposits
	Currency	106.8	-1.0	-	105.8
	Transferable deposits	2,273.4	-5.0	6.0	2,274.4
	Other deposits	1,621.3	37.4	6.2	1,664.9
Short term debt securities
	Bills of exchange	6.1	-0.2	-	5.9
	One name paper	588.2	-14.3	8.2	582.0
Long term debt securities
	Bonds, etc.	3,373.7	86.4	22.3	3,482.4
Derivatives
	Derivatives	1,158.6	-387.7	60.4	831.3
Loans and placements
	Short term	394.2	10.9	2.1	407.2
	Long term	4,882.8	41.6	18.5	4,942.9
Shares and other equity
	Listed	2,703.1	-4.9	117.1	2,815.3
	Unlisted	6,185.8	53.8	245.2	6,484.7
Insurance technical reserves
	Reserves of pension funds and life	3,437.4	21.0	127.5	3,585.8
	General insurance payments	164.7	4.3	0.0	168.9

Flow of funds diagrams

National investment

National investment decreased by $19.1b to $148.9b in the March quarter.

General government investment decreased by $2.8b to $23.9b, driven by decreases in gross fixed capital formation for both state and local general government and national general government, partly offset by increased acquisitions less disposals of non-produced non-financial assets.
Non-financial corporations' investment decreased by $8.6b to $73.3b, driven by a decrease in gross fixed capital formation for private non-financial corporations and decreases in change in inventories and gross fixed capital formation for public non-financial corporations.
Households' investment decreased by $7.5b to $48.6b, driven by decreases in gross fixed capital formation and change in inventories.

Financial investment

Australia was a net borrower of $8.3b from rest of world (ROW). The main contributors were a:

$30.2b acquisition by ROW of equity issued by Australia
$29.1b acquisition by ROW of debt securities issued by Australia
Partly offset by $14.9b acquisition by Australia of equity issued by ROW

ROW acquired bonds issued by banks as they continued to raise additional funds in preparation for the final maturity of allowances provided under the Term Funding Facility (TFF). ROW also acquired bonds issued by the National general government (NGG) over the quarter. Acquisition of equity by ROW reflected their reinvestment of elevated profits earned by foreign-owned resource companies, as well as merger and acquisition activity.

Households

Households' $14.1b net lending position was due to a $48.7b acquisition of financial assets, and partly offset by $34.5b incurrence of liabilities. The acquisition of assets was driven by:

$30.4b in deposits
$25.2b in net equity in superannuation

While liabilities were driven by:

$31.4b in loan borrowings

Deposit asset growth slowed compared to the previous two quarters in line with a falling household saving ratio. Annual increases in the superannuation guarantee and growing employment was reflected in households’ contributions to superannuation. Strength in loan borrowings reflected strong demand for housing over the quarter.

General government

General government’s $0.8b net lending position was due to $21.4b acquisition of financial assets, offset by $20.6b incurrence of liabilities. The acquisition of assets was driven by:

$10.9b in deposits

Liabilities were driven by:

$10.6b in loan borrowings
$9.0b net issuance of bonds

The Commonwealth government's net lending position was driven by growth in deposits supported by elevated income and corporate tax receipts and reduced issuance of debt securities over the quarter. State and territory governments continued to borrow funds from their respective central borrowing authorities to finance expenditure on social benefits and ongoing investment into transport infrastructure.

Net financial investment (net lending (+) / borrowing (-))
	National net financial investment ($b)	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Mar-11	-14.0	15.9	2.7	-17.1	-15.5
Jun-11	-9.6	1.0	5.5	-19.8	3.7
Sep-11	-11.2	-8.6	-2.6	-25.8	25.8
Dec-11	-15.0	-0.1	-2.7	-14.9	2.6
Mar-12	-18.4	-37.0	23.4	-13.2	8.5
Jun-12	-11.4	1.8	-24.4	-30.1	41.3
Sep-12	-19.2	-3.1	-11.5	-24.3	19.7
Dec-12	-20.3	-13.5	-0.6	-12.4	6.2
Mar-13	-10.2	-29.5	18.2	-15.5	16.6
Jun-13	-11.7	-42.4	21.2	-14.0	23.5
Sep-13	-19.2	-12.9	-20.1	-20.2	34.0
Dec-13	-12.6	-45.0	27.2	-10.9	16.0
Mar-14	-9.5	-18.0	10.2	-11.0	9.2
Jun-14	-13.7	-21.3	14.4	-10.2	3.4
Sep-14	-13.5	-13.1	-18.4	-18.4	36.4
Dec-14	-16.5	-3.2	-30.7	-10.0	27.4
Mar-15	-14.9	-21.8	1.7	-3.6	8.8
Jun-15	-22.3	-29.4	3.4	-8.4	12.0
Sep-15	-27.2	-54.6	-7.5	-15.0	49.9
Dec-15	-25.8	-35.9	1.8	-7.2	15.4
Mar-16	-18.4	-25.0	11.2	-8.8	4.2
Jun-16	-15.1	9.0	-33.3	-6.0	15.2
Sep-16	-15.1	-8.3	-2.5	-22.1	17.8
Dec-16	-8.0	1.5	-8.2	-24.1	22.8
Mar-17	-3.8	-14.6	8.0	2.2	0.5
Jun-17	-13.5	24.1	-32.9	-12.8	8.1
Sep-17	-15.9	-10.2	-10.7	-18.7	23.7
Dec-17	-19.4	-7.8	-22.9	-2.6	13.9
Mar-18	-9.5	-23.4	6.5	-0.9	8.4
Jun-18	-16.0	-10.0	-19.0	-0.2	13.2
Sep-18	-9.0	-26.6	-3.1	-18.5	39.3
Dec-18	-7.9	-6.9	3.0	-9.2	5.2
Mar-19	-5.5	-14.8	-6.7	-0.3	16.3
Jun-19	6.0	11.4	-33.6	-9.2	37.5
Sep-19	6.1	-7.8	-14.3	-22.9	51.2
Dec-19	-1.0	-13.5	6.2	-14.2	20.5
Mar-20	7.6	-12.8	10.5	-14.3	24.2
Jun-20	15.6	44.9	3.8	-89.0	55.9
Sep-20	9.6	19.2	17.2	-102.6	75.8
Dec-20	17.7	21.8	8.5	-45.6	32.9
Mar-21	13.7	-4.6	28.4	-18.1	7.9
Jun-21	21.7	18.9	5.2	-15.5	13.1
Sep-21	12.7	-28.1	25.7	-43.4	58.5
Dec-21	9.9	-11.0	22.7	-25.6	24.0
Mar-22	6.0	-49.3	47.3	-1.4	9.3
Jun-22	15.0	0.5	25.9	-16.1	4.7
Sep-22	-6.2	-65.5	26.6	-24.9	57.6
Dec-22	9.5	-2.7	8.1	-14.9	19.1
Mar-23	11.5	-24.3	2.8	12.0	21.1
Jun-23	11.7	4.0	1.9	6.0	-0.2
Sep-23	-10.1	-78.1	30.3	-24.6	62.3
Dec-23	8.5	-28.9	38.8	-28.0	26.6
Mar-24	-8.3	-14.9	-8.3	0.8	14.1

Net financial investment (net lending (+) / borrowing (-))

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Demand for credit

Demand for credit table

Demand for credit non-financial domestic sectors, $b
		Credit market outstandings, Dec-23	Demand for credit, Mar-24	Other changes, Mar-24	Credit market outstandings, Mar-24
Non-financial corporations
	Investment funds	535.5	6.2	17.1	558.8
	Other private	4,597.5	39.8	31.5	4,668.8
	Public	188.8	3.2	0.3	192.3
General government
	National	880.3	9.6	4.6	894.5
	State and local	418.1	10.9	-0.2	428.8
Households	2,872.6	31.3	9.8	2,913.6
Total	9,492.7	101.0	63.0	9,656.7

Demand for credit was $101.0b in the March quarter, of which:

other private non-financial corporations borrowed $39.8b
households borrowed $31.3b
general government borrowed $20.5b

Credit market outstanding increased by $164.0b, comprised of demand for credit and $63.0b of revaluation gains. Holding gains on the shares of other private non-financial corporations were $21.3b, in line with equity prices on the Australian Securities Exchange (ASX). Falling bond yields also resulted in holding gains on Commonwealth government bonds of $4.5b.

Other private non-financial corporations

Business' share capital expanded as elevated export revenue was reinvested in foreign-owned resource companies. Demand for business loans was driven by capital investment. Business financing activity comprised:

equity raising of $25.5b
loan borrowings of $12.1b

Households

Housing credit growth was in line with a rise in the value of new loan commitments which reflected increases in average loan size and the volume of loans. Households borrowed:

$31.1b in long term loans
$315m in short term loans

General government

Public sector debt continued to expand as the Commonwealth government raised funds through bond issuance. State government demand for credit was driven by ongoing investment into transport infrastructure, and expenditure on social assistance and health. The government financed its operations through:

$10.7b in loan borrowings by state and local general government
$9.1b of bonds issued by national general government

Demand for credit by sector
	Private non-financial businesses ($b)	Households ($b)	General government ($b)	Other ($b)
Mar-11	7.1	21.5	17.7	1.8
Jun-11	5.9	27.2	18.6	-2.4
Sep-11	30.1	7.5	23.4	-2.8
Dec-11	-3.7	16.8	21.6	6.1
Mar-12	27.6	11.9	18.8	4.5
Jun-12	16.0	22.8	10.7	-0.4
Sep-12	16.3	4.7	26.8	3.4
Dec-12	14.8	15.9	12.0	6.5
Mar-13	24.8	12.3	8.6	1.3
Jun-13	37.4	28.8	-6.2	5.0
Sep-13	26.1	3.7	28.9	-0.3
Dec-13	38.6	32.5	22.5	9.4
Mar-14	7.9	18.7	20.1	0
Jun-14	32.3	36.1	6.9	8.7
Sep-14	33.6	13.6	24.2	-6.1
Dec-14	35.4	26.8	8.9	3.1
Mar-15	43.2	25.1	16.1	7.4
Jun-15	27.0	39.3	5.3	11.8
Sep-15	39.7	12.3	36.4	3.8
Dec-15	33.4	23.2	2.1	7.9
Mar-16	30.4	25.1	22.0	3.4
Jun-16	11.1	34.7	2.5	2.7
Sep-16	20.3	28.5	25.8	6.0
Dec-16	56.5	20.7	19.0	-7.6
Mar-17	6.3	21.6	18.9	4.4
Jun-17	38.0	40.6	19.6	1.2
Sep-17	33.4	18.0	5.4	6.0
Dec-17	30.9	27.7	15.7	5.2
Mar-18	39.0	19.6	6.3	3.7
Jun-18	14.0	27.5	10.1	2.9
Sep-18	67.0	11.1	5.9	9.1
Dec-18	8.8	25.7	6.1	3.0
Mar-19	35.5	15.3	-0.3	5.4
Jun-19	38.8	4.0	12.3	-3.6
Sep-19	18.1	-0.1	25.8	4.5
Dec-19	21.0	19.3	15.7	6.0
Mar-20	49.7	3.9	35.6	5.4
Jun-20	-7.2	14.6	136.2	9.4
Sep-20	0.3	5.5	144.0	7.9
Dec-20	1.8	22.1	30.2	11.0
Mar-21	16.0	24.5	20.2	6.4
Jun-21	9.1	48.8	6.8	19.6
Sep-21	54.8	40.6	50.1	9.6
Dec-21	32.4	53.6	22.0	16.2
Mar-22	164.2	41.1	13.5	12.4
Jun-22	43.4	52.2	48.5	16.2
Sep-22	73.1	25.8	10.3	7.4
Dec-22	16.6	31.6	7.1	0.1
Mar-23	40.9	18.8	17.7	10.0
Jun-23	-5.3	42.6	-7.5	5.2
Sep-23	44.0	13.7	18.5	10.6
Dec-23	35.3	32.4	33.9	8.6
Mar-24	39.8	31.3	20.5	9.4

Demand for credit by sector

["","Private non-financial businesses","Households","General government","Other"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[7.0999999999999996],[5.9000000000000004],[30.100000000000001],[-3.7000000000000002],[27.600000000000001],[16],[16.300000000000001],[14.800000000000001],[24.800000000000001],[37.399999999999999],[26.100000000000001],[38.600000000000001],[7.9000000000000004],[32.299999999999997],[33.600000000000001],[35.399999999999999],[43.200000000000003],[27],[39.700000000000003],[33.399999999999999],[30.399999999999999],[11.1],[20.300000000000001],[56.5],[6.2999999999999998],[38],[33.399999999999999],[30.899999999999999],[39],[14],[67],[8.8000000000000007],[35.5],[38.799999999999997],[18.100000000000001],[21],[49.700000000000003],[-7.2000000000000002],[0.29999999999999999],[1.8],[16],[9.0999999999999996],[54.799999999999997],[32.399999999999999],[164.19999999999999],[43.399999999999999],[73.099999999999994],[16.600000000000001],[40.899999999999999],[-5.2999999999999998],[44],[35.299999999999997],[39.799999999999997]],[[21.5],[27.199999999999999],[7.5],[16.800000000000001],[11.9],[22.800000000000001],[4.7000000000000002],[15.9],[12.300000000000001],[28.800000000000001],[3.7000000000000002],[32.5],[18.699999999999999],[36.100000000000001],[13.6],[26.800000000000001],[25.100000000000001],[39.299999999999997],[12.300000000000001],[23.199999999999999],[25.100000000000001],[34.700000000000003],[28.5],[20.699999999999999],[21.600000000000001],[40.600000000000001],[18],[27.699999999999999],[19.600000000000001],[27.5],[11.1],[25.699999999999999],[15.300000000000001],[4],[-0.10000000000000001],[19.300000000000001],[3.8999999999999999],[14.6],[5.5],[22.100000000000001],[24.5],[48.799999999999997],[40.600000000000001],[53.600000000000001],[41.100000000000001],[52.200000000000003],[25.800000000000001],[31.600000000000001],[18.800000000000001],[42.600000000000001],[13.699999999999999],[32.399999999999999],[31.300000000000001]],[[17.699999999999999],[18.600000000000001],[23.399999999999999],[21.600000000000001],[18.800000000000001],[10.699999999999999],[26.800000000000001],[12],[8.5999999999999996],[-6.2000000000000002],[28.899999999999999],[22.5],[20.100000000000001],[6.9000000000000004],[24.199999999999999],[8.9000000000000004],[16.100000000000001],[5.2999999999999998],[36.399999999999999],[2.1000000000000001],[22],[2.5],[25.800000000000001],[19],[18.899999999999999],[19.600000000000001],[5.4000000000000004],[15.699999999999999],[6.2999999999999998],[10.1],[5.9000000000000004],[6.0999999999999996],[-0.29999999999999999],[12.300000000000001],[25.800000000000001],[15.699999999999999],[35.600000000000001],[136.19999999999999],[144],[30.199999999999999],[20.199999999999999],[6.7999999999999998],[50.100000000000001],[22],[13.5],[48.5],[10.300000000000001],[7.0999999999999996],[17.699999999999999],[-7.5],[18.5],[33.899999999999999],[20.5]],[[1.8],[-2.3999999999999999],[-2.7999999999999998],[6.0999999999999996],[4.5],[-0.40000000000000002],[3.3999999999999999],[6.5],[1.3],[5],[-0.29999999999999999],[9.4000000000000004],[0],[8.6999999999999993],[-6.0999999999999996],[3.1000000000000001],[7.4000000000000004],[11.800000000000001],[3.7999999999999998],[7.9000000000000004],[3.3999999999999999],[2.7000000000000002],[6],[-7.5999999999999996],[4.4000000000000004],[1.2],[6],[5.2000000000000002],[3.7000000000000002],[2.8999999999999999],[9.0999999999999996],[3],[5.4000000000000004],[-3.6000000000000001],[4.5],[6],[5.4000000000000004],[9.4000000000000004],[7.9000000000000004],[11],[6.4000000000000004],[19.600000000000001],[9.5999999999999996],[16.199999999999999],[12.4],[16.199999999999999],[7.4000000000000004],[0.10000000000000001],[10],[5.2000000000000002],[10.6],[8.5999999999999996],[9.4000000000000004]]]

[]

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"Other" includes private non-financial investment funds and public non-financial corporations.

Households

Balance sheet

Household balance sheet, $b
	Amounts outstanding, Dec-23	Transactions, Mar-24	Other changes(a), Mar-24	Holding gains/losses, Mar-24	Amounts outstanding, Mar-24
Non-financial assets
	Land and dwellings	10,768.0	3.9	9.3	217.9	10,999.0
	Other non-financial assets	828.1	-2.5	-	10.6	836.2
Financial assets
	Superannuation reserves	3,737.2	25.2	-	120.0	3,882.5
	Shares and other equity	1,401.0	-4.4	-	60.8	1,457.3
	Currency and deposits	1,696.0	29.6	-	2.5	1,728.0
	Other financial assets	392.3	-1.7	-	4.7	395.3
Liabilities
	Loans	2,868.4	31.4	-	9.8	2,909.5
	Other liabilities	177.3	3.1	-	-	180.5
Wealth (Net worth)	15,776.8	15.5	9.3	406.6	16,208.3
Memorandum item
	Consumer durables (b)	552.3	1.2	-	-	561.9

Financial assets

Household selected financial assets, $b
		Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total assets	81.0	6,990.9	61.6	7,226.5	48.7	7,463.1
Deposits	50.8	1,614.2	32.3	1,646.2	30.4	1,679.0
Shares and equity	1.8	1,348.9	1.7	1,401.0	-4.4	1,457.3
Net equity in reserves	20.7	3,296.7	22.2	3,444.4	20.9	3,593.4
	Pension funds	23.8	3,160.3	24.9	3,303.3	22.9	3,449.7
Other assets	7.7	731.1	5.4	735.0	1.7	733.3

Liabilities

Household selected liabilities, $b
		Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total liabilities	18.7	3,010.1	35.0	3,045.8	34.5	3,090.1
Short term loans	-0.6	57.8	0.0	57.7	0.3	58.1
Long term loans	14.4	2,777.5	32.4	2,810.7	31.1	2,851.5
Other liabilities	4.9	174.8	2.6	177.4	3.1	180.6

Household wealth grew 2.7% ($431.5b) to $16,208.3b at the end of the March quarter. The increase in net worth was driven by strength in the housing market and share market.

Non-financial assets

Non-financial assets owned by households increased by 2.1% ($239.2b), driven by:

a $200.5b rise in residential land and dwellings.

House prices continued to increase as supply is still unable to meet current demand.

Financial assets

Financial assets of households increased by 3.3% ($236.6b), with a:

$145.2b rise in superannuation reserves
$56.3b rise in shares and other equity
$32.0b rise in currency and deposits

Total superannuation reserves increased by 3.9% this quarter, driven by favourable domestic and international share market performance which increased the value of equities held by superannuation funds.

Total deposits increased by 2.0%. Transferable deposit account balances rose $11.2b. Other deposit accounts (which include term deposit and other non-transaction deposit) rose $21.7b.

Liabilities

Household liabilities increased by 1.5% ($44.3b), with a:

$21.5b rise in housing loans
$317m rise in short term loans

The growth in housing loans was driven by both owner-occupied ($17.2b) and investor ($4.3b) loans.

Household wealth, contribution to growth, quarterly
	Wealth (Net worth) ($b)	Land and dwellings ($b)	Superannuation ($b)	Currency and deposits ($b)	Shares and equity ($b)	Other financial assets ($b)	Liabilities ($b)
Mar-11	-10.1	-14.9	29.0	8.3	1.9	-10.8	-26.3
Jun-11	-31.2	9.0	-1.4	0.5	-8.9	-2.8	-28.6
Sep-11	-211.5	-130.1	-71.1	23.6	-15.3	-4.5	-14.2
Dec-11	7.1	-16.6	15.5	15.4	4.7	0.2	-14.6
Mar-12	101.7	26.5	65.1	10.2	18.4	-3.1	-16.5
Jun-12	146.4	28.3	123.0	9.1	-4.3	13.6	-23.9
Sep-12	60.9	-15.0	51.0	22.5	15.8	-4.0	-10.5
Dec-12	179.2	105.9	58.3	12.6	14.6	-2.5	-14.5
Mar-13	145.1	54.4	68.0	9.7	22.9	1.0	-14.6
Jun-13	-1.7	78.6	-52.5	6.4	-3.0	1.3	-36.2
Sep-13	212.0	83.3	88.4	26.3	21.0	-0.5	-11.4
Dec-13	234.8	173.2	53.3	20.4	8.7	7.9	-37.8
Mar-14	138.1	76.5	46.1	9.7	19.4	-1.4	-19.7
Jun-14	116.6	94.9	26.2	7.0	15.3	4.1	-38.0
Sep-14	164.0	82.6	51.3	29.5	13.1	-0.7	-19.6
Dec-14	261.6	169.2	59.6	25.5	24.6	1.9	-30.3
Mar-15	263.3	125.0	106.0	13.9	34.9	7.6	-32.0
Jun-15	202.0	224.7	12.3	6.4	0.1	-5.0	-42.4
Sep-15	122.5	129.6	-24.5	37.2	0.9	-2.5	-22.0
Dec-15	150.2	46.6	76.4	19.6	30.4	-2.7	-25.8
Mar-16	-14.2	9.6	-18.7	12.8	3.6	1.9	-26.2
Jun-16	281.8	137.3	149.0	10.6	16.2	8.1	-41.9
Sep-16	230.7	125.7	79.3	25.3	23.7	3.1	-30.1
Dec-16	335.9	258.0	48.6	24.9	22.8	0.4	-26.4
Mar-17	231.6	160.4	63.2	9.8	20.8	1.6	-29.9
Jun-17	154.6	170.0	16.7	1.4	4.2	-0.5	-41.2
Sep-17	27.6	14.3	-3.4	21.7	11.8	6.6	-26.8
Dec-17	286.0	167.9	95.7	13.5	26.4	9.3	-33.1
Mar-18	-14.5	17.1	-16.6	10.0	2.2	0.3	-30.8
Jun-18	87.3	-26.3	107.9	1.5	21.9	11.8	-31.2
Sep-18	33.6	-51.1	47.7	28.2	18.8	5.1	-16.0
Dec-18	-206.3	-61.0	-111.3	9.5	-7.5	-9.0	-31.0
Mar-19	56.9	-119.6	142.6	5.4	33.6	14.4	-20.2
Jun-19	318.0	68.6	220.6	4.3	27.8	13.1	-15.3
Sep-19	335.1	225.9	63.2	25.9	16.9	11.3	-6.2
Dec-19	288.0	218.8	62.1	12.9	13.0	2.3	-23.8
Mar-20	-250.7	106.0	-275.5	18.2	-63.2	-16.6	-21.6
Jun-20	231.6	-23.8	166.6	35.1	32.3	25.5	-6.3
Sep-20	336.7	221.9	38.1	65.5	7.5	2.7	-5.1
Dec-20	626.1	376.2	167.0	27.3	54.0	11.7	-24.4
Mar-21	552.8	457.0	68.6	13.5	28.2	-1.2	-27.0
Jun-21	576.0	429.4	119.1	5.9	35.0	24.0	-52.7
Sep-21	732.4	600.4	60.8	75.0	26.1	7.7	-53.5
Dec-21	719.2	587.5	91.6	47.7	21.1	6.5	-57.2
Mar-22	163.7	196.2	-57.5	33.7	21.6	-7.2	-40.7
Jun-22	-399.4	-39.9	-292.4	6.2	-22.7	-14.5	-49.3
Sep-22	-223.0	-262.9	-11.2	53.0	15.0	6.0	-31.2
Dec-22	222.9	64.1	113.3	33.8	35.4	7.0	-42.4
Mar-23	181.9	53.7	106.5	26.9	21.3	3.1	-35.1
Jun-23	335.9	310.5	48.8	-5.9	17.1	7.5	-43.8
Sep-23	246.3	173.8	9.3	52.7	34.3	0.7	-25.7
Dec-23	485.2	277.5	143.7	32.4	52.1	7.4	-35.8
Mar-24	431.5	231.1	145.2	32.0	56.3	3.0	-44.3

Household wealth, contribution to growth, quarterly

["","Wealth (Net worth)","Land and dwellings","Superannuation","Currency and deposits","Shares and equity","Other financial assets","Liabilities"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[-10.1],[-31.199999999999999],[-211.5],[7.0999999999999996],[101.7],[146.40000000000001],[60.899999999999999],[179.19999999999999],[145.09999999999999],[-1.7],[212],[234.80000000000001],[138.09999999999999],[116.59999999999999],[164],[261.60000000000002],[263.30000000000001],[202],[122.5],[150.19999999999999],[-14.199999999999999],[281.80000000000001],[230.69999999999999],[335.89999999999998],[231.59999999999999],[154.59999999999999],[27.600000000000001],[286],[-14.5],[87.299999999999997],[33.600000000000001],[-206.30000000000001],[56.899999999999999],[318],[335.10000000000002],[288],[-250.69999999999999],[231.59999999999999],[336.69999999999999],[626.10000000000002],[552.79999999999995],[576],[732.39999999999998],[719.20000000000005],[163.69999999999999],[-399.39999999999998],[-223],[222.90000000000001],[181.90000000000001],[335.89999999999998],[246.30000000000001],[485.19999999999999],[431.5]],[[-14.9],[9],[-130.09999999999999],[-16.600000000000001],[26.5],[28.300000000000001],[-15],[105.90000000000001],[54.399999999999999],[78.599999999999994],[83.299999999999997],[173.19999999999999],[76.5],[94.900000000000006],[82.599999999999994],[169.19999999999999],[125],[224.69999999999999],[129.59999999999999],[46.600000000000001],[9.5999999999999996],[137.30000000000001],[125.7],[258],[160.40000000000001],[170],[14.300000000000001],[167.90000000000001],[17.100000000000001],[-26.300000000000001],[-51.100000000000001],[-61],[-119.59999999999999],[68.599999999999994],[225.90000000000001],[218.80000000000001],[106],[-23.800000000000001],[221.90000000000001],[376.19999999999999],[457],[429.39999999999998],[600.39999999999998],[587.5],[196.19999999999999],[-39.899999999999999],[-262.89999999999998],[64.099999999999994],[53.700000000000003],[310.5],[173.80000000000001],[277.5],[231.09999999999999]],[[29],[-1.3999999999999999],[-71.099999999999994],[15.5],[65.099999999999994],[123],[51],[58.299999999999997],[68],[-52.5],[88.400000000000006],[53.299999999999997],[46.100000000000001],[26.199999999999999],[51.299999999999997],[59.600000000000001],[106],[12.300000000000001],[-24.5],[76.400000000000006],[-18.699999999999999],[149],[79.299999999999997],[48.600000000000001],[63.200000000000003],[16.699999999999999],[-3.3999999999999999],[95.700000000000003],[-16.600000000000001],[107.90000000000001],[47.700000000000003],[-111.3],[142.59999999999999],[220.59999999999999],[63.200000000000003],[62.100000000000001],[-275.5],[166.59999999999999],[38.100000000000001],[167],[68.599999999999994],[119.09999999999999],[60.799999999999997],[91.599999999999994],[-57.5],[-292.39999999999998],[-11.199999999999999],[113.3],[106.5],[48.799999999999997],[9.3000000000000007],[143.69999999999999],[145.19999999999999]],[[8.3000000000000007],[0.5],[23.600000000000001],[15.4],[10.199999999999999],[9.0999999999999996],[22.5],[12.6],[9.6999999999999993],[6.4000000000000004],[26.300000000000001],[20.399999999999999],[9.6999999999999993],[7],[29.5],[25.5],[13.9],[6.4000000000000004],[37.200000000000003],[19.600000000000001],[12.800000000000001],[10.6],[25.300000000000001],[24.899999999999999],[9.8000000000000007],[1.3999999999999999],[21.699999999999999],[13.5],[10],[1.5],[28.199999999999999],[9.5],[5.4000000000000004],[4.2999999999999998],[25.899999999999999],[12.9],[18.199999999999999],[35.100000000000001],[65.5],[27.300000000000001],[13.5],[5.9000000000000004],[75],[47.700000000000003],[33.700000000000003],[6.2000000000000002],[53],[33.799999999999997],[26.899999999999999],[-5.9000000000000004],[52.700000000000003],[32.399999999999999],[32]],[[1.8999999999999999],[-8.9000000000000004],[-15.300000000000001],[4.7000000000000002],[18.399999999999999],[-4.2999999999999998],[15.800000000000001],[14.6],[22.899999999999999],[-3],[21],[8.6999999999999993],[19.399999999999999],[15.300000000000001],[13.1],[24.600000000000001],[34.899999999999999],[0.10000000000000001],[0.90000000000000002],[30.399999999999999],[3.6000000000000001],[16.199999999999999],[23.699999999999999],[22.800000000000001],[20.800000000000001],[4.2000000000000002],[11.800000000000001],[26.399999999999999],[2.2000000000000002],[21.899999999999999],[18.800000000000001],[-7.5],[33.600000000000001],[27.800000000000001],[16.899999999999999],[13],[-63.200000000000003],[32.299999999999997],[7.5],[54],[28.199999999999999],[35],[26.100000000000001],[21.100000000000001],[21.600000000000001],[-22.699999999999999],[15],[35.399999999999999],[21.300000000000001],[17.100000000000001],[34.299999999999997],[52.100000000000001],[56.299999999999997]],[[-10.800000000000001],[-2.7999999999999998],[-4.5],[0.20000000000000001],[-3.1000000000000001],[13.6],[-4],[-2.5],[1],[1.3],[-0.5],[7.9000000000000004],[-1.3999999999999999],[4.0999999999999996],[-0.69999999999999996],[1.8999999999999999],[7.5999999999999996],[-5],[-2.5],[-2.7000000000000002],[1.8999999999999999],[8.0999999999999996],[3.1000000000000001],[0.40000000000000002],[1.6000000000000001],[-0.5],[6.5999999999999996],[9.3000000000000007],[0.29999999999999999],[11.800000000000001],[5.0999999999999996],[-9],[14.4],[13.1],[11.300000000000001],[2.2999999999999998],[-16.600000000000001],[25.5],[2.7000000000000002],[11.699999999999999],[-1.2],[24],[7.7000000000000002],[6.5],[-7.2000000000000002],[-14.5],[6],[7],[3.1000000000000001],[7.5],[0.69999999999999996],[7.4000000000000004],[3]],[[-26.300000000000001],[-28.600000000000001],[-14.199999999999999],[-14.6],[-16.5],[-23.899999999999999],[-10.5],[-14.5],[-14.6],[-36.200000000000003],[-11.4],[-37.799999999999997],[-19.699999999999999],[-38],[-19.600000000000001],[-30.300000000000001],[-32],[-42.399999999999999],[-22],[-25.800000000000001],[-26.199999999999999],[-41.899999999999999],[-30.100000000000001],[-26.399999999999999],[-29.899999999999999],[-41.200000000000003],[-26.800000000000001],[-33.100000000000001],[-30.800000000000001],[-31.199999999999999],[-16],[-31],[-20.199999999999999],[-15.300000000000001],[-6.2000000000000002],[-23.800000000000001],[-21.600000000000001],[-6.2999999999999998],[-5.0999999999999996],[-24.399999999999999],[-27],[-52.700000000000003],[-53.5],[-57.200000000000003],[-40.700000000000003],[-49.299999999999997],[-31.199999999999999],[-42.399999999999999],[-35.100000000000001],[-43.799999999999997],[-25.699999999999999],[-35.799999999999997],[-44.299999999999997]]]

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Private non-financial corporations

Financial assets

Private non-financial corporations' selected financial assets, $b
	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total assets	-2.4	2,027.2	26.9	2,029.3	47.8	2,121.4
Deposits	-24.2	791.7	-1.3	787.1	8.6	797.9
Shares and equity	16.2	703.9	5.9	708.5	7.0	762.1
Other accounts receivable	0.6	291.3	17.1	294.2	27.5	314.2
Other assets	5.0	240.3	5.2	239.5	4.8	247.2

Liabilities

Private non-financial corporations' selected liabilities, $b
	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total liabilities	72.3	5,268.6	51.0	5,426.7	61.7	5,533.9
Total debt securities	-0.8	265.8	3.7	270.7	3.6	278.9
Loans	20.6	1,074.2	19.0	1,092.6	14.2	1,112.9
	Authorised deposit taking institutions	14.7	733.1	5.5	737.5	10.0	748.5
	Rest of world	-1.3	226.6	9.8	236.9	1.6	243.7
Shares and equity	30.5	3,616.0	14.9	3,757.1	28.0	3,822.8
	Households	6.7	879.1	1.0	899.9	3.5	913.3
	Rest of world	17.0	1,397.7	12.2	1,449.1	24.4	1,484.1
Other liabilities	22.0	312.5	13.3	306.3	15.8	319.2

Other private non-financial corporations demand for credit

Other private non-financial corporations demand for credit of $39.8b was driven by:

$25.5b of equity raising, and
$12.1b of loan borrowings.

Other private non-financial corporations' demand for credit
	Total ($b)	Short-term debt ($b)	Bonds ($b)	Loans ($b)	Equity ($b)
Mar-11	7.1	-2.3	4.6	5.7	-1.0
Jun-11	5.9	-3.2	4.1	-8.1	13.1
Sep-11	30.1	8.0	-2.3	19.0	5.4
Dec-11	-3.7	-3.6	9.6	-0.2	-9.5
Mar-12	27.6	0.3	7.9	8.6	10.8
Jun-12	16.0	-2.5	1.8	13.0	3.7
Sep-12	16.3	-3.6	10.6	-2.5	11.8
Dec-12	14.8	-5.0	9.2	2.7	7.8
Mar-13	24.8	-1.8	5.5	9.9	11.1
Jun-13	37.4	-3.2	1.8	17.3	21.5
Sep-13	26.1	1.6	6.7	3.0	14.8
Dec-13	38.6	-7.7	8.4	16.2	21.7
Mar-14	7.9	-3.9	-0.7	0.7	11.8
Jun-14	32.3	-3.4	-5.6	22.5	18.8
Sep-14	33.6	-2.6	9.5	1.7	24.9
Dec-14	35.4	-1.8	-5.8	14.6	28.4
Mar-15	43.2	-3.3	8.9	22.9	14.6
Jun-15	27.0	-2.7	10.5	3.2	16.0
Sep-15	39.7	-1.9	-6.1	31.3	16.5
Dec-15	33.4	-2.0	8.6	12.3	14.5
Mar-16	30.4	-2.4	6.3	14.3	12.1
Jun-16	11.1	-3.1	-5.0	3.3	16.0
Sep-16	20.3	-2.1	-4.9	8.0	19.4
Dec-16	56.5	-2.5	2.9	13.5	42.5
Mar-17	6.3	-0.2	-9.9	1.1	15.4
Jun-17	38.0	-1.4	7.6	3.5	28.3
Sep-17	33.4	-3.8	-1.1	4.5	33.8
Dec-17	30.9	-1.2	-5.0	9.6	27.4
Mar-18	39.0	-0.6	3.4	14.1	22.1
Jun-18	14.0	-2.4	9.1	-11.0	18.3
Sep-18	67.0	-3.4	2.3	24.4	43.6
Dec-18	8.8	-2.8	-0.3	5.0	6.9
Mar-19	35.5	-2.6	-1.6	19.5	20.1
Jun-19	38.8	-4.1	8.4	12.5	21.9
Sep-19	18.1	-1.1	1.2	9.2	8.8
Dec-19	21.0	-2.7	0.3	3.3	20.1
Mar-20	49.7	0.7	-7.7	42.5	14.1
Jun-20	-7.2	-2.5	-7.8	-23.2	26.3
Sep-20	0.3	-0.5	-9.2	-12.9	22.9
Dec-20	1.8	-2.6	-12.1	-14.0	30.5
Mar-21	16.0	0.7	-0.2	8.8	6.7
Jun-21	9.1	-0.1	-3.3	6.1	6.4
Sep-21	54.8	-1.7	-5.3	15.4	46.4
Dec-21	32.4	-1.7	0.9	-4.2	37.4
Mar-22	164.2	-1.0	4.3	12.5	148.3
Jun-22	43.4	-0.1	-0.5	31.7	12.3
Sep-22	73.1	1.9	-3.6	33.4	41.3
Dec-22	16.6	-0.2	-2.4	7.5	11.8
Mar-23	40.9	0.6	3.0	12.5	24.8
Jun-23	-5.3	-3.3	4.9	1.5	-8.4
Sep-23	44.0	2.9	-3.5	17.6	27.0
Dec-23	35.3	1.8	2.8	18.0	12.6
Mar-24	39.8	-1.2	3.4	12.1	25.5

Other private non-financial corporations' demand for credit

["","Total","Short-term debt","Bonds","Loans","Equity"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[7.0999999999999996],[5.9000000000000004],[30.100000000000001],[-3.7000000000000002],[27.600000000000001],[16],[16.300000000000001],[14.800000000000001],[24.800000000000001],[37.399999999999999],[26.100000000000001],[38.600000000000001],[7.9000000000000004],[32.299999999999997],[33.600000000000001],[35.399999999999999],[43.200000000000003],[27],[39.700000000000003],[33.399999999999999],[30.399999999999999],[11.1],[20.300000000000001],[56.5],[6.2999999999999998],[38],[33.399999999999999],[30.899999999999999],[39],[14],[67],[8.8000000000000007],[35.5],[38.799999999999997],[18.100000000000001],[21],[49.700000000000003],[-7.2000000000000002],[0.29999999999999999],[1.8],[16],[9.0999999999999996],[54.799999999999997],[32.399999999999999],[164.19999999999999],[43.399999999999999],[73.099999999999994],[16.600000000000001],[40.899999999999999],[-5.2999999999999998],[44],[35.299999999999997],[39.799999999999997]],[[-2.2999999999999998],[-3.2000000000000002],[8],[-3.6000000000000001],[0.29999999999999999],[-2.5],[-3.6000000000000001],[-5],[-1.8],[-3.2000000000000002],[1.6000000000000001],[-7.7000000000000002],[-3.8999999999999999],[-3.3999999999999999],[-2.6000000000000001],[-1.8],[-3.2999999999999998],[-2.7000000000000002],[-1.8999999999999999],[-2],[-2.3999999999999999],[-3.1000000000000001],[-2.1000000000000001],[-2.5],[-0.20000000000000001],[-1.3999999999999999],[-3.7999999999999998],[-1.2],[-0.59999999999999998],[-2.3999999999999999],[-3.3999999999999999],[-2.7999999999999998],[-2.6000000000000001],[-4.0999999999999996],[-1.1000000000000001],[-2.7000000000000002],[0.69999999999999996],[-2.5],[-0.5],[-2.6000000000000001],[0.69999999999999996],[-0.10000000000000001],[-1.7],[-1.7],[-1],[-0.10000000000000001],[1.8999999999999999],[-0.20000000000000001],[0.59999999999999998],[-3.2999999999999998],[2.8999999999999999],[1.8],[-1.2]],[[4.5999999999999996],[4.0999999999999996],[-2.2999999999999998],[9.5999999999999996],[7.9000000000000004],[1.8],[10.6],[9.1999999999999993],[5.5],[1.8],[6.7000000000000002],[8.4000000000000004],[-0.69999999999999996],[-5.5999999999999996],[9.5],[-5.7999999999999998],[8.9000000000000004],[10.5],[-6.0999999999999996],[8.5999999999999996],[6.2999999999999998],[-5],[-4.9000000000000004],[2.8999999999999999],[-9.9000000000000004],[7.5999999999999996],[-1.1000000000000001],[-5],[3.3999999999999999],[9.0999999999999996],[2.2999999999999998],[-0.29999999999999999],[-1.6000000000000001],[8.4000000000000004],[1.2],[0.29999999999999999],[-7.7000000000000002],[-7.7999999999999998],[-9.1999999999999993],[-12.1],[-0.20000000000000001],[-3.2999999999999998],[-5.2999999999999998],[0.90000000000000002],[4.2999999999999998],[-0.5],[-3.6000000000000001],[-2.3999999999999999],[3],[4.9000000000000004],[-3.5],[2.7999999999999998],[3.3999999999999999]],[[5.7000000000000002],[-8.0999999999999996],[19],[-0.20000000000000001],[8.5999999999999996],[13],[-2.5],[2.7000000000000002],[9.9000000000000004],[17.300000000000001],[3],[16.199999999999999],[0.69999999999999996],[22.5],[1.7],[14.6],[22.899999999999999],[3.2000000000000002],[31.300000000000001],[12.300000000000001],[14.300000000000001],[3.2999999999999998],[8],[13.5],[1.1000000000000001],[3.5],[4.5],[9.5999999999999996],[14.1],[-11],[24.399999999999999],[5],[19.5],[12.5],[9.1999999999999993],[3.2999999999999998],[42.5],[-23.199999999999999],[-12.9],[-14],[8.8000000000000007],[6.0999999999999996],[15.4],[-4.2000000000000002],[12.5],[31.699999999999999],[33.399999999999999],[7.5],[12.5],[1.5],[17.600000000000001],[18],[12.1]],[[-1],[13.1],[5.4000000000000004],[-9.5],[10.800000000000001],[3.7000000000000002],[11.800000000000001],[7.7999999999999998],[11.1],[21.5],[14.800000000000001],[21.699999999999999],[11.800000000000001],[18.800000000000001],[24.899999999999999],[28.399999999999999],[14.6],[16],[16.5],[14.5],[12.1],[16],[19.399999999999999],[42.5],[15.4],[28.300000000000001],[33.799999999999997],[27.399999999999999],[22.100000000000001],[18.300000000000001],[43.600000000000001],[6.9000000000000004],[20.100000000000001],[21.899999999999999],[8.8000000000000007],[20.100000000000001],[14.1],[26.300000000000001],[22.899999999999999],[30.5],[6.7000000000000002],[6.4000000000000004],[46.399999999999999],[37.399999999999999],[148.30000000000001],[12.300000000000001],[41.299999999999997],[11.800000000000001],[24.800000000000001],[-8.4000000000000004],[27],[12.6],[25.5]]]

[]

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Private non-financial corporations used debt at a higher rate than equity to source funding and as a result, the debt to equity ratio (adjusted for price changes) increased to 0.61.

Firms' equity raising reflected a build up of reinvested earnings as a result of strong profits.

Private non-financial corporations' debt to equity ratio
	Debt to equity ratio, adjusted for price changes, March 2004 base	Debt to equity ratio
Mar-04	0.50	0.50
Jun-04	0.51	0.50
Sep-04	0.52	0.48
Dec-04	0.54	0.48
Mar-05	0.55	0.48
Jun-05	0.61	0.52
Sep-05	0.62	0.50
Dec-05	0.64	0.51
Mar-06	0.66	0.50
Jun-06	0.67	0.52
Sep-06	0.68	0.52
Dec-06	0.71	0.51
Mar-07	0.73	0.50
Jun-07	0.73	0.49
Sep-07	0.77	0.51
Dec-07	0.80	0.54
Mar-08	0.82	0.60
Jun-08	0.83	0.60
Sep-08	0.85	0.69
Dec-08	0.85	0.81
Mar-09	0.82	0.79
Jun-09	0.76	0.70
Sep-09	0.75	0.63
Dec-09	0.73	0.60
Mar-10	0.72	0.60
Jun-10	0.71	0.64
Sep-10	0.71	0.60
Dec-10	0.68	0.55
Mar-11	0.69	0.55
Jun-11	0.67	0.56
Sep-11	0.69	0.63
Dec-11	0.70	0.64
Mar-12	0.71	0.61
Jun-12	0.72	0.66
Sep-12	0.71	0.64
Dec-12	0.71	0.62
Mar-13	0.72	0.61
Jun-13	0.71	0.65
Sep-13	0.71	0.62
Dec-13	0.72	0.63
Mar-14	0.71	0.62
Jun-14	0.70	0.61
Sep-14	0.71	0.63
Dec-14	0.70	0.63
Mar-15	0.71	0.62
Jun-15	0.70	0.63
Sep-15	0.71	0.67
Dec-15	0.71	0.65
Mar-16	0.72	0.65
Jun-16	0.71	0.63
Sep-16	0.71	0.60
Dec-16	0.70	0.59
Mar-17	0.69	0.58
Jun-17	0.69	0.58
Sep-17	0.69	0.57
Dec-17	0.67	0.54
Mar-18	0.68	0.55
Jun-18	0.67	0.53
Sep-18	0.67	0.53
Dec-18	0.67	0.55
Mar-19	0.66	0.52
Jun-19	0.66	0.51
Sep-19	0.66	0.52
Dec-19	0.65	0.50
Mar-20	0.67	0.61
Jun-20	0.64	0.53
Sep-20	0.63	0.52
Dec-20	0.61	0.48
Mar-21	0.61	0.48
Jun-21	0.61	0.46
Sep-21	0.61	0.46
Dec-21	0.60	0.44
Mar-22	0.57	0.42
Jun-22	0.58	0.46
Sep-22	0.58	0.47
Dec-22	0.58	0.45
Mar-23	0.58	0.44
Jun-23	0.58	0.44
Sep-23	0.59	0.46
Dec-23	0.60	0.44
Mar-24	0.61	0.45

Private non-financial corporations' debt to equity ratio

["","Debt\u00a0to\u00a0equity\u00a0ratio,\u00a0adjusted\u00a0for\u00a0price\u00a0changes,\u00a0March 2004 base","Debt\u00a0to\u00a0equity\u00a0ratio"]

[["Mar-04","Jun-04","Sep-04","Dec-04","Mar-05","Jun-05","Sep-05","Dec-05","Mar-06","Jun-06","Sep-06","Dec-06","Mar-07","Jun-07","Sep-07","Dec-07","Mar-08","Jun-08","Sep-08","Dec-08","Mar-09","Jun-09","Sep-09","Dec-09","Mar-10","Jun-10","Sep-10","Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[0.5],[0.51000000000000001],[0.52000000000000002],[0.54000000000000004],[0.55000000000000004],[0.60999999999999999],[0.62],[0.64000000000000001],[0.66000000000000003],[0.67000000000000004],[0.68000000000000005],[0.70999999999999996],[0.72999999999999998],[0.72999999999999998],[0.77000000000000002],[0.80000000000000004],[0.81999999999999995],[0.82999999999999996],[0.84999999999999998],[0.84999999999999998],[0.81999999999999995],[0.76000000000000001],[0.75],[0.72999999999999998],[0.71999999999999997],[0.70999999999999996],[0.70999999999999996],[0.68000000000000005],[0.68999999999999995],[0.67000000000000004],[0.68999999999999995],[0.69999999999999996],[0.70999999999999996],[0.71999999999999997],[0.70999999999999996],[0.70999999999999996],[0.71999999999999997],[0.70999999999999996],[0.70999999999999996],[0.71999999999999997],[0.70999999999999996],[0.69999999999999996],[0.70999999999999996],[0.69999999999999996],[0.70999999999999996],[0.69999999999999996],[0.70999999999999996],[0.70999999999999996],[0.71999999999999997],[0.70999999999999996],[0.70999999999999996],[0.69999999999999996],[0.68999999999999995],[0.68999999999999995],[0.68999999999999995],[0.67000000000000004],[0.68000000000000005],[0.67000000000000004],[0.67000000000000004],[0.67000000000000004],[0.66000000000000003],[0.66000000000000003],[0.66000000000000003],[0.65000000000000002],[0.67000000000000004],[0.64000000000000001],[0.63],[0.60999999999999999],[0.60999999999999999],[0.60999999999999999],[0.60999999999999999],[0.59999999999999998],[0.56999999999999995],[0.57999999999999996],[0.57999999999999996],[0.57999999999999996],[0.57999999999999996],[0.57999999999999996],[0.58999999999999997],[0.59999999999999998],[0.60999999999999999]],[[0.5],[0.5],[0.47999999999999998],[0.47999999999999998],[0.47999999999999998],[0.52000000000000002],[0.5],[0.51000000000000001],[0.5],[0.52000000000000002],[0.52000000000000002],[0.51000000000000001],[0.5],[0.48999999999999999],[0.51000000000000001],[0.54000000000000004],[0.59999999999999998],[0.59999999999999998],[0.68999999999999995],[0.81000000000000005],[0.79000000000000004],[0.69999999999999996],[0.63],[0.59999999999999998],[0.59999999999999998],[0.64000000000000001],[0.59999999999999998],[0.55000000000000004],[0.55000000000000004],[0.56000000000000005],[0.63],[0.64000000000000001],[0.60999999999999999],[0.66000000000000003],[0.64000000000000001],[0.62],[0.60999999999999999],[0.65000000000000002],[0.62],[0.63],[0.62],[0.60999999999999999],[0.63],[0.63],[0.62],[0.63],[0.67000000000000004],[0.65000000000000002],[0.65000000000000002],[0.63],[0.59999999999999998],[0.58999999999999997],[0.57999999999999996],[0.57999999999999996],[0.56999999999999995],[0.54000000000000004],[0.55000000000000004],[0.53000000000000003],[0.53000000000000003],[0.55000000000000004],[0.52000000000000002],[0.51000000000000001],[0.52000000000000002],[0.5],[0.60999999999999999],[0.53000000000000003],[0.52000000000000002],[0.47999999999999998],[0.47999999999999998],[0.46000000000000002],[0.46000000000000002],[0.44],[0.41999999999999998],[0.46000000000000002],[0.46999999999999997],[0.45000000000000001],[0.44],[0.44],[0.46000000000000002],[0.44],[0.45000000000000001]]]

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Financial corporations

Financial assets and liabilities

Financial corporations' financial assets, $b
	Amounts outstanding, Dec-23	Transactions, Mar-24	Other changes, Mar-24	Amounts outstanding, Mar-24
Central bank	552.2	-10.9	2.8	544.0
Authorised deposit taking institutions	5,327.2	-143.2	67.8	5,251.9
Other broad money institutions	209.8	10.3	0.3	220.3
Pension funds	3,123.1	24.6	122.1	3,269.8
Life insurance corporations	176.9	-2.8	3.6	177.6
Non-life insurance corporations	297.5	2.5	5.5	305.4
Money market investment funds	30.4	2.3	0.0	32.7
Non-money market investment funds	1,239.4	-0.8	29.3	1,268.0
Central borrowing authorities	678.4	13.5	1.9	693.9
Securitisers	724.0	1.2	0.0	725.2
Other financial corporations	117.2	-25.1	20.1	112.1

Financial corporations' liabilities, $b
	Amounts outstanding, Dec-23	Transactions, Mar-24	Other changes, Mar-24	Amounts outstanding, Mar-24
Central bank	555.7	-12.2	1.8	545.3
Authorised deposit taking institutions	5,498.1	-150.7	114.6	5,462.1
Other broad money institutions	158.3	6.1	0.2	164.6
Pension funds	3,357.7	25.6	124.1	3,507.4
Life insurance corporations	168.6	-2.8	4.4	170.2
Non-life insurance corporations	318.7	3.2	13.7	335.6
Money market investment funds	30.4	0.0	2.3	32.7
Non-money market investment funds	1,365.5	6.6	47.9	1,420.0
Central borrowing authorities	646.3	21.2	-0.7	666.8
Securitisers	760.2	5.1	-1.8	763.6
Other financial corporations	225.3	-22.4	26.6	229.4

Authorised deposit-taking institutions (ADIs)

Financial assets

Authorised deposit-taking institutions' selected financial assets, $b
	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total assets	-42.3	5,379.3	-147.8	5,327.2	-143.2	5,251.9
Deposits	-53.0	455.7	-4.0	449.1	-20.4	429.2
Bonds	99.7	920.5	-23.4	911.0	31.7	946.8
	Securitisers	74.4	502.2	-31.5	474.9	9.1	484.4
	National general government	-8.3	76.1	0.0	78.0	3.5	81.8
Loans	29.9	3,080.5	62.1	3,141.7	25.5	3,171.0
Other assets	-118.9	922.6	-182.6	825.4	-180.0	704.9

Liabilities

Authorised deposit-taking institutions' selected liabilities, $b
		Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total liabilities	-64.1	5,515.1	-174.8	5,498.1	-150.7	5,462.1
Deposits	34.1	3,195.3	18.1	3,215.6	40.1	3,263.2
	Other private non-fin corps	-20.3	740.0	-1.4	736.3	7.7	745.6
	Pension funds	8.3	284.4	3.0	287.1	8.1	295.4
	Households	50.1	1,582.9	31.6	1,614.1	29.7	1,644.1
Bonds	13.2	529.6	20.9	553.6	23.3	583.4
Shares and equities	-1.9	587.5	-1.0	626.1	-3.1	679.6
Other liabilities	-109.4	1,202.8	-212.9	1,102.8	-210.9	935.9

Total financial assets of ADIs decreased $75.4b, reflecting:

a $133.5b decrease in derivatives

This was partly offset by:

a $35.8b increase in bonds,
a $29.3b increase in loans which was predominantly driven by households, and
a $22.7b increase in equities.

Change in authorised deposit taking institutions' assets
	Total assets ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Mar-11	45.4	5.5	-3.1	1.8	-4.8	53.0	-5.0	0.7
Jun-11	30.9	-2.6	-2.1	18.3	-4.0	29.6	-8.6	0.1
Sep-11	99.5	9.1	0	36.4	33.0	30.7	-11.8	1.7
Dec-11	-18.1	-21.4	-4.9	-5.7	-17.2	22.6	9.1	-2.9
Mar-12	10.5	-6.0	3.8	24.8	-9.4	-3.4	-0.2	2.7
Jun-12	64.6	-6.3	0.2	8.3	27.5	35.9	0.5	-0.9
Sep-12	35.8	2.5	-1.1	43.3	3.4	-25.1	10.5	2.3
Dec-12	15.2	-6.4	-1.0	8.8	-19.0	26.3	6.4	-2.7
Mar-13	28.8	1.4	-7.9	9.6	-12.4	26.5	11.9	1.3
Jun-13	78.4	-4.2	-9.6	32.0	36.3	24.1	-1.1	2.1
Sep-13	18.2	-0.6	-0.7	21.2	-35.0	25.5	10.2	-2.8
Dec-13	89.2	17.4	-7.5	-4.3	31.5	36.3	8.2	5.1
Mar-14	20.3	-0.2	-8.5	25.5	-22.2	26.4	0.6	0.8
Jun-14	63.7	2.1	1.9	15.6	-3.5	45.7	0.2	1.8
Sep-14	94.4	3.3	-0.3	40.3	44.5	12.3	-5.5	0.1
Dec-14	114.1	-5.4	2.6	48.0	47.6	14.0	6.7	-1.6
Mar-15	145.1	-1.2	-3.5	32.3	34.4	59.8	19.6	4.1
Jun-15	-3.0	-4.0	-5.9	-3.6	-52.3	71.7	-8.3	1.1
Sep-15	138.6	5.2	0.6	23.8	72.0	46.9	-11.9	1.6
Dec-15	-14.7	4.6	-6.1	13.2	-64.2	26.0	11.8	-1.6
Mar-16	46.7	1.3	-1.4	5.6	40.8	13.5	-14.9	2.7
Jun-16	79.7	-0.3	-8.6	26.8	25.8	36.3	-1.6	2.4
Sep-16	5.7	-2.0	-4.7	12.2	-36.8	31.2	5.8	-0.7
Dec-16	64.6	1.4	-1.9	-5.3	0.4	65.0	6.8	-3.7
Mar-17	-26.0	4.0	-5.2	11.4	-49.7	6.7	4.7	3.4
Jun-17	52.9	0.8	-5.8	-39.2	11.5	91.4	-9.7	4.5
Sep-17	-21.5	-2.8	-2.0	-18.7	-18.3	19.8	2.6	-2.3
Dec-17	21.4	-1.9	-4.5	12.1	12.0	2.9	5.4	-5.8
Mar-18	80.5	15.6	-0.3	2.6	18.8	50.6	-10.2	4.3
Jun-18	33.7	-0.9	-3.7	-8.5	15.1	29.3	4.7	-1.0
Sep-18	3.3	3.5	-6.4	3.3	-17.4	19.4	0.2	0.1
Dec-18	53.5	0.1	0.9	2.9	28.7	28.4	-10.5	1.1
Mar-19	34.8	1.6	-2.3	16.2	7.6	-0.9	8.2	4.7
Jun-19	67.6	1.7	-2.8	22.6	56.3	-12.3	2.4	-0.3
Sep-19	113.0	5.0	-1.8	17.8	55.5	28.6	9.2	-0.8
Dec-19	-38.3	3.7	4.3	-19.0	-52.7	21.2	5.0	-1.9
Mar-20	478.2	79.7	7.0	215.9	251.9	-54.7	-42.1	19.3
Jun-20	-190.9	-28.7	5.9	132.7	-115.6	-158.0	-21.8	-3.1
Sep-20	-62.4	-21.7	-12.3	-34.3	-40.3	29.3	-3.4	20.2
Dec-20	27.2	48.8	-7.1	-80.7	23.4	31.5	16.9	-6.6
Mar-21	7.6	97.0	-3.0	-88.5	-83.6	41.8	37.3	7.3
Jun-21	37.1	132.9	-0.3	-131.7	-25.4	31.4	12.6	18.6
Sep-21	129.6	48.2	-1.6	21.7	-9.9	64.6	5.8	0.9
Dec-21	110.4	33.6	7.1	2.7	-2.8	82.1	3.7	-16.9
Mar-22	172.1	26.6	5.6	64.6	81.1	-14.4	3.2	5.9
Jun-22	318.6	-12.2	12.2	39.2	172.2	115.3	-8.6	0.3
Sep-22	241.9	24.5	3.6	0.1	151.5	82.4	-15.0	-4.7
Dec-22	-50.6	-0.3	3.3	5.2	-105.1	38.1	10.0	-2.4
Mar-23	-78.1	-12.5	-2.2	-9.3	-107.8	53.8	-5.0	4.5
Jun-23	95.9	-28.5	-9.5	22.4	76.3	33.9	5.7	-4.1
Sep-23	115.0	-53.0	7.8	95.4	47.8	32.1	-4.6	-9.3
Dec-23	-52.1	-6.6	14.7	-9.5	-123.0	61.2	15.4	-5.6
Mar-24	-75.4	-20.0	-5.3	35.8	-133.5	29.3	22.7	-5.2

Change in authorised deposit taking institutions' assets

["","Total assets","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[45.399999999999999],[30.899999999999999],[99.5],[-18.100000000000001],[10.5],[64.599999999999994],[35.799999999999997],[15.199999999999999],[28.800000000000001],[78.400000000000006],[18.199999999999999],[89.200000000000003],[20.300000000000001],[63.700000000000003],[94.400000000000006],[114.09999999999999],[145.09999999999999],[-3],[138.59999999999999],[-14.699999999999999],[46.700000000000003],[79.700000000000003],[5.7000000000000002],[64.599999999999994],[-26],[52.899999999999999],[-21.5],[21.399999999999999],[80.5],[33.700000000000003],[3.2999999999999998],[53.5],[34.799999999999997],[67.599999999999994],[113],[-38.299999999999997],[478.19999999999999],[-190.90000000000001],[-62.399999999999999],[27.199999999999999],[7.5999999999999996],[37.100000000000001],[129.59999999999999],[110.40000000000001],[172.09999999999999],[318.60000000000002],[241.90000000000001],[-50.600000000000001],[-78.099999999999994],[95.900000000000006],[115],[-52.100000000000001],[-75.400000000000006]],[[5.5],[-2.6000000000000001],[9.0999999999999996],[-21.399999999999999],[-6],[-6.2999999999999998],[2.5],[-6.4000000000000004],[1.3999999999999999],[-4.2000000000000002],[-0.59999999999999998],[17.399999999999999],[-0.20000000000000001],[2.1000000000000001],[3.2999999999999998],[-5.4000000000000004],[-1.2],[-4],[5.2000000000000002],[4.5999999999999996],[1.3],[-0.29999999999999999],[-2],[1.3999999999999999],[4],[0.80000000000000004],[-2.7999999999999998],[-1.8999999999999999],[15.6],[-0.90000000000000002],[3.5],[0.10000000000000001],[1.6000000000000001],[1.7],[5],[3.7000000000000002],[79.700000000000003],[-28.699999999999999],[-21.699999999999999],[48.799999999999997],[97],[132.90000000000001],[48.200000000000003],[33.600000000000001],[26.600000000000001],[-12.199999999999999],[24.5],[-0.29999999999999999],[-12.5],[-28.5],[-53],[-6.5999999999999996],[-20]],[[-3.1000000000000001],[-2.1000000000000001],[0],[-4.9000000000000004],[3.7999999999999998],[0.20000000000000001],[-1.1000000000000001],[-1],[-7.9000000000000004],[-9.5999999999999996],[-0.69999999999999996],[-7.5],[-8.5],[1.8999999999999999],[-0.29999999999999999],[2.6000000000000001],[-3.5],[-5.9000000000000004],[0.59999999999999998],[-6.0999999999999996],[-1.3999999999999999],[-8.5999999999999996],[-4.7000000000000002],[-1.8999999999999999],[-5.2000000000000002],[-5.7999999999999998],[-2],[-4.5],[-0.29999999999999999],[-3.7000000000000002],[-6.4000000000000004],[0.90000000000000002],[-2.2999999999999998],[-2.7999999999999998],[-1.8],[4.2999999999999998],[7],[5.9000000000000004],[-12.300000000000001],[-7.0999999999999996],[-3],[-0.29999999999999999],[-1.6000000000000001],[7.0999999999999996],[5.5999999999999996],[12.199999999999999],[3.6000000000000001],[3.2999999999999998],[-2.2000000000000002],[-9.5],[7.7999999999999998],[14.699999999999999],[-5.2999999999999998]],[[1.8],[18.300000000000001],[36.399999999999999],[-5.7000000000000002],[24.800000000000001],[8.3000000000000007],[43.299999999999997],[8.8000000000000007],[9.5999999999999996],[32],[21.199999999999999],[-4.2999999999999998],[25.5],[15.6],[40.299999999999997],[48],[32.299999999999997],[-3.6000000000000001],[23.800000000000001],[13.199999999999999],[5.5999999999999996],[26.800000000000001],[12.199999999999999],[-5.2999999999999998],[11.4],[-39.200000000000003],[-18.699999999999999],[12.1],[2.6000000000000001],[-8.5],[3.2999999999999998],[2.8999999999999999],[16.199999999999999],[22.600000000000001],[17.800000000000001],[-19],[215.90000000000001],[132.69999999999999],[-34.299999999999997],[-80.700000000000003],[-88.5],[-131.69999999999999],[21.699999999999999],[2.7000000000000002],[64.599999999999994],[39.200000000000003],[0.10000000000000001],[5.2000000000000002],[-9.3000000000000007],[22.399999999999999],[95.400000000000006],[-9.5],[35.799999999999997]],[[-4.7999999999999998],[-4],[33],[-17.199999999999999],[-9.4000000000000004],[27.5],[3.3999999999999999],[-19],[-12.4],[36.299999999999997],[-35],[31.5],[-22.199999999999999],[-3.5],[44.5],[47.600000000000001],[34.399999999999999],[-52.299999999999997],[72],[-64.200000000000003],[40.799999999999997],[25.800000000000001],[-36.799999999999997],[0.40000000000000002],[-49.700000000000003],[11.5],[-18.300000000000001],[12],[18.800000000000001],[15.1],[-17.399999999999999],[28.699999999999999],[7.5999999999999996],[56.299999999999997],[55.5],[-52.700000000000003],[251.90000000000001],[-115.59999999999999],[-40.299999999999997],[23.399999999999999],[-83.599999999999994],[-25.399999999999999],[-9.9000000000000004],[-2.7999999999999998],[81.099999999999994],[172.19999999999999],[151.5],[-105.09999999999999],[-107.8],[76.299999999999997],[47.799999999999997],[-123],[-133.5]],[[53],[29.600000000000001],[30.699999999999999],[22.600000000000001],[-3.3999999999999999],[35.899999999999999],[-25.100000000000001],[26.300000000000001],[26.5],[24.100000000000001],[25.5],[36.299999999999997],[26.399999999999999],[45.700000000000003],[12.300000000000001],[14],[59.799999999999997],[71.700000000000003],[46.899999999999999],[26],[13.5],[36.299999999999997],[31.199999999999999],[65],[6.7000000000000002],[91.400000000000006],[19.800000000000001],[2.8999999999999999],[50.600000000000001],[29.300000000000001],[19.399999999999999],[28.399999999999999],[-0.90000000000000002],[-12.300000000000001],[28.600000000000001],[21.199999999999999],[-54.700000000000003],[-158],[29.300000000000001],[31.5],[41.799999999999997],[31.399999999999999],[64.599999999999994],[82.099999999999994],[-14.4],[115.3],[82.400000000000006],[38.100000000000001],[53.799999999999997],[33.899999999999999],[32.100000000000001],[61.200000000000003],[29.300000000000001]],[[-5],[-8.5999999999999996],[-11.800000000000001],[9.0999999999999996],[-0.20000000000000001],[0.5],[10.5],[6.4000000000000004],[11.9],[-1.1000000000000001],[10.199999999999999],[8.1999999999999993],[0.59999999999999998],[0.20000000000000001],[-5.5],[6.7000000000000002],[19.600000000000001],[-8.3000000000000007],[-11.9],[11.800000000000001],[-14.9],[-1.6000000000000001],[5.7999999999999998],[6.7999999999999998],[4.7000000000000002],[-9.6999999999999993],[2.6000000000000001],[5.4000000000000004],[-10.199999999999999],[4.7000000000000002],[0.20000000000000001],[-10.5],[8.1999999999999993],[2.3999999999999999],[9.1999999999999993],[5],[-42.100000000000001],[-21.800000000000001],[-3.3999999999999999],[16.899999999999999],[37.299999999999997],[12.6],[5.7999999999999998],[3.7000000000000002],[3.2000000000000002],[-8.5999999999999996],[-15],[10],[-5],[5.7000000000000002],[-4.5999999999999996],[15.4],[22.699999999999999]],[[0.69999999999999996],[0.10000000000000001],[1.7],[-2.8999999999999999],[2.7000000000000002],[-0.90000000000000002],[2.2999999999999998],[-2.7000000000000002],[1.3],[2.1000000000000001],[-2.7999999999999998],[5.0999999999999996],[0.80000000000000004],[1.8],[0.10000000000000001],[-1.6000000000000001],[4.0999999999999996],[1.1000000000000001],[1.6000000000000001],[-1.6000000000000001],[2.7000000000000002],[2.3999999999999999],[-0.69999999999999996],[-3.7000000000000002],[3.3999999999999999],[4.5],[-2.2999999999999998],[-5.7999999999999998],[4.2999999999999998],[-1],[0.10000000000000001],[1.1000000000000001],[4.7000000000000002],[-0.29999999999999999],[-0.80000000000000004],[-1.8999999999999999],[19.300000000000001],[-3.1000000000000001],[20.199999999999999],[-6.5999999999999996],[7.2999999999999998],[18.600000000000001],[0.90000000000000002],[-16.899999999999999],[5.9000000000000004],[0.29999999999999999],[-4.7000000000000002],[-2.3999999999999999],[4.5],[-4.0999999999999996],[-9.3000000000000007],[-5.5999999999999996],[-5.2000000000000002]]]

[]

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Liabilities of ADIs decreased $36.0b, with a:

$154.8b decrease in derivatives
$9.2b decrease in loans

This was partly offset by:

a $53.5b increase in shares and other equity
a $47.6b increase in deposits
a $29.8b increase in bonds

ADI debt security issuance remained strong this quarter in preparation for next quarter's expiry of the remaining funds drawn under the Term Funding Facility (TFF). This was reflected in:

$19.8b of bonds issued in Australia
$3.5b of bonds issued offshore

Change in authorised deposit taking institutions' liabilities
	Total liabilities ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Mar-11	37.9	39.1	6	-5.7	-6.2	-2.8	6.6	0.9
Jun-11	0.1	24.2	-5.7	-4.1	-5.2	5.7	-14.8	-0.1
Sep-11	75.7	63.6	7.9	24.4	3.5	6.9	-31	0.3
Dec-11	-19.2	-1.6	3.9	-22.8	4.2	-15.1	13	-0.8
Mar-12	27.8	2.5	6.3	4.2	-8.8	2.8	19.4	1.5
Jun-12	57.3	53.1	-5.1	-2.6	22.6	-5.3	-5.1	-0.3
Sep-12	61.9	48.3	-20.5	6.6	-4.8	0.6	30.6	1.2
Dec-12	31.2	32.4	9.3	-16.3	-10.5	-3.4	19.1	0.7
Mar-13	42.9	0.9	6.5	-10	-5.8	0.8	50	0.5
Jun-13	92.7	13.9	30.7	14.6	31.9	1.9	-3.8	3.4
Sep-13	56	51.2	-17.8	6.2	-18.1	0.7	33	0.8
Dec-13	101.7	41.3	1.7	15.2	17.1	5.4	21.6	-0.7
Mar-14	37.2	15.7	13.7	-5	-3.8	0.7	13.4	2.6
Jun-14	59.7	34.9	18	2.8	1.3	1.4	0.7	0.6
Sep-14	72.1	37.4	-5.7	16	37.7	9.8	-22.3	-0.7
Dec-14	146.3	38.5	19.8	18.7	44.1	-7.2	31.4	1.1
Mar-15	177.1	43.2	11	11.4	40.2	1.3	65.7	4.2
Jun-15	-71.8	8.2	9.5	10.4	-55.8	3.2	-49.2	1.8
Sep-15	114	66.9	-2.5	29.7	52.1	7.8	-39.6	-0.4
Dec-15	53.1	23.4	5.7	0.9	-32	6	49.2	-0.1
Mar-16	-8.2	9.6	-18.4	0.2	55.5	1.1	-58.4	2.1
Jun-16	78.5	51.5	0	13.9	14.1	-2	-0.7	1.7
Sep-16	2.3	43.2	-11.1	-12.5	-33.7	-4.4	20.5	0.4
Dec-16	120.2	68.4	13.9	-7.1	-4.5	4.3	48.5	-3.2
Mar-17	-24.4	0.9	1.1	-15.8	-32.9	-3.8	26.8	-0.8
Jun-17	36.2	34.8	17.1	3.5	11.9	5.4	-38.7	2.3
Sep-17	-16.8	-0.2	11.1	0.7	-28	-3.3	2.5	0.5
Dec-17	47.4	34.6	-13.5	6.6	11.5	7.6	4.8	-4.2
Mar-18	36.6	10.2	11.1	26.4	6.6	5.3	-29.3	6.4
Jun-18	55	14.2	3.2	9.1	18.7	-0.2	13.6	-3.6
Sep-18	13.8	32.5	-28.9	14.9	-9.1	5.9	-6	4.6
Dec-18	10.6	2.5	22	4.8	20.6	-1.3	-33.2	-4.8
Mar-19	43.3	7.5	-1.1	-9.4	13.9	14.1	12.5	5.8
Jun-19	127.1	23.6	-24	12.8	58.6	10.4	39.9	5.9
Sep-19	119.4	49	-6.3	6.7	52.7	9.8	12.5	-5.1
Dec-19	-86.1	5.7	21.8	-27.7	-38.3	-0.9	-41.2	-5.7
Mar-20	338.5	190.8	-13.1	36.6	205.9	29.3	-130.8	19.9
Jun-20	-100.5	9.6	-24.8	-38	-70	-15.3	44.3	-6.3
Sep-20	-77	68.9	-24.2	-31.4	-54.9	-16.1	-19.9	0.6
Dec-20	94.9	3.7	14.6	-22	35.8	-14.1	85	-8.1
Mar-21	6.9	34.2	19	-29.5	-99.6	16.8	60.2	5.7
Jun-21	58.7	42.1	5.3	3.3	-29.9	8.2	32.1	-2.4
Sep-21	143.6	93.8	20.7	-3.6	-11.6	8.5	25.3	10.4
Dec-21	87	60.6	48.6	-4.4	0.7	16.4	-16.7	-18.2
Mar-22	173.3	58.8	-12.5	-14.1	95.4	13.4	22.4	9.9
Jun-22	206	98.6	35	16.5	152.9	-1.6	-96.5	1.2
Sep-22	228.2	64.9	-4.1	5.1	151.9	0.8	12.5	-2.9
Dec-22	8.8	21.1	15.8	20.7	-73.5	-13.5	45.5	-7.2
Mar-23	-81.8	41.6	-10	30.9	-126	-11.6	-17.1	10.5
Jun-23	91.3	-5.3	-3.1	13.6	84.6	2.1	2.3	-3
Sep-23	111.9	38.4	12.3	14.3	47	-6.8	9	-2.2
Dec-23	-17	20.3	20	24	-107.2	-8.4	38.7	-4.5
Mar-24	-36	47.6	-6.4	29.8	-154.8	-9.2	53.5	3.5

Change in authorised deposit taking institutions' liabilities

["","Total liabilities","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[37.899999999999999],[0.10000000000000001],[75.700000000000003],[-19.199999999999999],[27.800000000000001],[57.299999999999997],[61.899999999999999],[31.199999999999999],[42.899999999999999],[92.700000000000003],[56],[101.7],[37.200000000000003],[59.700000000000003],[72.099999999999994],[146.30000000000001],[177.09999999999999],[-71.799999999999997],[114],[53.100000000000001],[-8.1999999999999993],[78.5],[2.2999999999999998],[120.2],[-24.399999999999999],[36.200000000000003],[-16.800000000000001],[47.399999999999999],[36.600000000000001],[55],[13.800000000000001],[10.6],[43.299999999999997],[127.09999999999999],[119.40000000000001],[-86.099999999999994],[338.5],[-100.5],[-77],[94.900000000000006],[6.9000000000000004],[58.700000000000003],[143.59999999999999],[87],[173.30000000000001],[206],[228.19999999999999],[8.8000000000000007],[-81.799999999999997],[91.299999999999997],[111.90000000000001],[-17],[-36]],[[39.100000000000001],[24.199999999999999],[63.600000000000001],[-1.6000000000000001],[2.5],[53.100000000000001],[48.299999999999997],[32.399999999999999],[0.90000000000000002],[13.9],[51.200000000000003],[41.299999999999997],[15.699999999999999],[34.899999999999999],[37.399999999999999],[38.5],[43.200000000000003],[8.1999999999999993],[66.900000000000006],[23.399999999999999],[9.5999999999999996],[51.5],[43.200000000000003],[68.400000000000006],[0.90000000000000002],[34.799999999999997],[-0.20000000000000001],[34.600000000000001],[10.199999999999999],[14.199999999999999],[32.5],[2.5],[7.5],[23.600000000000001],[49],[5.7000000000000002],[190.80000000000001],[9.5999999999999996],[68.900000000000006],[3.7000000000000002],[34.200000000000003],[42.100000000000001],[93.799999999999997],[60.600000000000001],[58.799999999999997],[98.599999999999994],[64.900000000000006],[21.100000000000001],[41.600000000000001],[-5.2999999999999998],[38.399999999999999],[20.300000000000001],[47.600000000000001]],[[6],[-5.7000000000000002],[7.9000000000000004],[3.8999999999999999],[6.2999999999999998],[-5.0999999999999996],[-20.5],[9.3000000000000007],[6.5],[30.699999999999999],[-17.800000000000001],[1.7],[13.699999999999999],[18],[-5.7000000000000002],[19.800000000000001],[11],[9.5],[-2.5],[5.7000000000000002],[-18.399999999999999],[0],[-11.1],[13.9],[1.1000000000000001],[17.100000000000001],[11.1],[-13.5],[11.1],[3.2000000000000002],[-28.899999999999999],[22],[-1.1000000000000001],[-24],[-6.2999999999999998],[21.800000000000001],[-13.1],[-24.800000000000001],[-24.199999999999999],[14.6],[19],[5.2999999999999998],[20.699999999999999],[48.600000000000001],[-12.5],[35],[-4.0999999999999996],[15.800000000000001],[-10],[-3.1000000000000001],[12.300000000000001],[20],[-6.4000000000000004]],[[-5.7000000000000002],[-4.0999999999999996],[24.399999999999999],[-22.800000000000001],[4.2000000000000002],[-2.6000000000000001],[6.5999999999999996],[-16.300000000000001],[-10],[14.6],[6.2000000000000002],[15.199999999999999],[-5],[2.7999999999999998],[16],[18.699999999999999],[11.4],[10.4],[29.699999999999999],[0.90000000000000002],[0.20000000000000001],[13.9],[-12.5],[-7.0999999999999996],[-15.800000000000001],[3.5],[0.69999999999999996],[6.5999999999999996],[26.399999999999999],[9.0999999999999996],[14.9],[4.7999999999999998],[-9.4000000000000004],[12.800000000000001],[6.7000000000000002],[-27.699999999999999],[36.600000000000001],[-38],[-31.399999999999999],[-22],[-29.5],[3.2999999999999998],[-3.6000000000000001],[-4.4000000000000004],[-14.1],[16.5],[5.0999999999999996],[20.699999999999999],[30.899999999999999],[13.6],[14.300000000000001],[24],[29.800000000000001]],[[-6.2000000000000002],[-5.2000000000000002],[3.5],[4.2000000000000002],[-8.8000000000000007],[22.600000000000001],[-4.7999999999999998],[-10.5],[-5.7999999999999998],[31.899999999999999],[-18.100000000000001],[17.100000000000001],[-3.7999999999999998],[1.3],[37.700000000000003],[44.100000000000001],[40.200000000000003],[-55.799999999999997],[52.100000000000001],[-32],[55.5],[14.1],[-33.700000000000003],[-4.5],[-32.899999999999999],[11.9],[-28],[11.5],[6.5999999999999996],[18.699999999999999],[-9.0999999999999996],[20.600000000000001],[13.9],[58.600000000000001],[52.700000000000003],[-38.299999999999997],[205.90000000000001],[-70],[-54.899999999999999],[35.799999999999997],[-99.599999999999994],[-29.899999999999999],[-11.6],[0.69999999999999996],[95.400000000000006],[152.90000000000001],[151.90000000000001],[-73.5],[-126],[84.599999999999994],[47],[-107.2],[-154.80000000000001]],[[-2.7999999999999998],[5.7000000000000002],[6.9000000000000004],[-15.1],[2.7999999999999998],[-5.2999999999999998],[0.59999999999999998],[-3.3999999999999999],[0.80000000000000004],[1.8999999999999999],[0.69999999999999996],[5.4000000000000004],[0.69999999999999996],[1.3999999999999999],[9.8000000000000007],[-7.2000000000000002],[1.3],[3.2000000000000002],[7.7999999999999998],[6],[1.1000000000000001],[-2],[-4.4000000000000004],[4.2999999999999998],[-3.7999999999999998],[5.4000000000000004],[-3.2999999999999998],[7.5999999999999996],[5.2999999999999998],[-0.20000000000000001],[5.9000000000000004],[-1.3],[14.1],[10.4],[9.8000000000000007],[-0.90000000000000002],[29.300000000000001],[-15.300000000000001],[-16.100000000000001],[-14.1],[16.800000000000001],[8.1999999999999993],[8.5],[16.399999999999999],[13.4],[-1.6000000000000001],[0.80000000000000004],[-13.5],[-11.6],[2.1000000000000001],[-6.7999999999999998],[-8.4000000000000004],[-9.1999999999999993]],[[6.5999999999999996],[-14.800000000000001],[-31],[13],[19.399999999999999],[-5.0999999999999996],[30.600000000000001],[19.100000000000001],[50],[-3.7999999999999998],[33],[21.600000000000001],[13.4],[0.69999999999999996],[-22.300000000000001],[31.399999999999999],[65.700000000000003],[-49.200000000000003],[-39.600000000000001],[49.200000000000003],[-58.399999999999999],[-0.69999999999999996],[20.5],[48.5],[26.800000000000001],[-38.700000000000003],[2.5],[4.7999999999999998],[-29.300000000000001],[13.6],[-6],[-33.200000000000003],[12.5],[39.899999999999999],[12.5],[-41.200000000000003],[-130.80000000000001],[44.299999999999997],[-19.899999999999999],[85],[60.200000000000003],[32.100000000000001],[25.300000000000001],[-16.699999999999999],[22.399999999999999],[-96.5],[12.5],[45.5],[-17.100000000000001],[2.2999999999999998],[9],[38.700000000000003],[53.5]],[[0.90000000000000002],[-0.10000000000000001],[0.29999999999999999],[-0.80000000000000004],[1.5],[-0.29999999999999999],[1.2],[0.69999999999999996],[0.5],[3.3999999999999999],[0.80000000000000004],[-0.69999999999999996],[2.6000000000000001],[0.59999999999999998],[-0.69999999999999996],[1.1000000000000001],[4.2000000000000002],[1.8],[-0.40000000000000002],[-0.10000000000000001],[2.1000000000000001],[1.7],[0.40000000000000002],[-3.2000000000000002],[-0.80000000000000004],[2.2999999999999998],[0.5],[-4.2000000000000002],[6.4000000000000004],[-3.6000000000000001],[4.5999999999999996],[-4.7999999999999998],[5.7999999999999998],[5.9000000000000004],[-5.0999999999999996],[-5.7000000000000002],[19.899999999999999],[-6.2999999999999998],[0.59999999999999998],[-8.0999999999999996],[5.7000000000000002],[-2.3999999999999999],[10.4],[-18.199999999999999],[9.9000000000000004],[1.2],[-2.8999999999999999],[-7.2000000000000002],[10.5],[-3],[-2.2000000000000002],[-4.5],[3.5]]]

[]

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Pension (superannuation) funds

Financial assets

Pension (superannuation) funds' selected financial assets, $b
	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total assets	24.4	2,984.2	17.1	3,123.1	24.6	3,269.8
Deposits	8.3	295.0	2.1	296.4	7.9	304.7
Debt securities	10.8	228.5	8.6	239.9	9.3	251.7
Shares and equity	16.0	2,399.4	15.0	2,516.0	13.5	2,655.2
	Other private non-fin corps	4.5	445.6	0.1	476.3	1.6	483.6
	Non-money market investment funds	4.2	925.9	3.7	961.0	6.3	1,002.5
	Rest of world	3.8	547.6	6.4	584.1	5.5	644.4
Net equity in life offices	-0.3	13.7	-0.6	13.8	-0.3	13.9
Other assets	-10.5	47.6	-8.1	57.1	-5.8	44.3

Liabilities

Pension (superannuation) funds' selected liabilities, $b
		Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total liabilities	23.7	3,218.5	14.5	3,357.7	25.6	3,507.4
Net equity in reserves	24.0	3,166.0	25.1	3,309.9	23.1	3,457.0
	Households	23.8	3,160.3	24.9	3,303.3	22.9	3,449.7
Other liabilities	-0.3	52.5	-10.7	47.8	2.5	50.4

Total financial assets of pension (superannuation funds) increased by 4.7% ($146.7b), with a:

$139.2b increase in equities
$10.2b increase in bonds
$8.4b increase in deposits.

Pension funds used households' contributions to superannuation to acquire $13.5b in shares and other equity, $7.9b of deposits and $7.7b in bonds. Revaluation gains of $125.7b in shares and other equity this quarter reflected favourable economic conditions in domestic and overseas markets. Pension funds' investment in debt securities remained strong this quarter, particularly in bonds issued by the rest of the world, ADIs and Central borrowing authorities.

Pension funds' financial assets
	Total assets (RHS) ($b)	Revaluations (LHS) ($b)	Transactions (LHS) ($b)
Mar-11	1,218.2	10.2	17.1
Jun-11	1,209	-34.8	25.7
Sep-11	1,136.8	-83.4	11.1
Dec-11	1,146.6	-3.3	13.1
Mar-12	1,207.1	41.8	18.7
Jun-12	1,202.4	-37.7	33.1
Sep-12	1,247.2	30.7	14.1
Dec-12	1,298.2	34.2	16.7
Mar-13	1,361.1	43.8	19.1
Jun-13	1,378.8	-20.6	38.2
Sep-13	1,454.8	62.5	13.5
Dec-13	1,508.7	28.7	25.2
Mar-14	1,544.3	14.8	20.8
Jun-14	1,575.8	-0.5	32.0
Sep-14	1,611.6	11.8	24.1
Dec-14	1,665.8	32.3	21.9
Mar-15	1,762.5	79.9	16.8
Jun-15	1,745	-52.3	34.8
Sep-15	1,719	-45.6	19.6
Dec-15	1,775.1	39.5	16.5
Mar-16	1,748.7	-33.8	7.5
Jun-16	1,821.6	42.7	30.2
Sep-16	1,895.5	61.4	12.5
Dec-16	1,947.7	33.0	19.3
Mar-17	2,001.8	35.0	19.1
Jun-17	2,050.6	9.3	39.5
Sep-17	2,064.4	2.9	10.8
Dec-17	2,158.1	73.0	20.8
Mar-18	2,143.7	-29.5	15.1
Jun-18	2,217.9	50.4	23.8
Sep-18	2,263.3	32.4	13.0
Dec-18	2,150.2	-127.5	14.5
Mar-19	2,281.1	116.2	14.7
Jun-19	2,382.9	74.7	27.1
Sep-19	2,441.6	46.7	12.0
Dec-19	2,494.9	30.0	23.3
Mar-20	2,239.1	-269.7	13.9
Jun-20	2,376.3	130.3	7.0
Sep-20	2,409.6	25.3	8.0
Dec-20	2,569.7	143.0	17.1
Mar-21	2,639.8	49.2	20.8
Jun-21	2,799	124.0	35.2
Sep-21	2,854.6	39.6	16.0
Dec-21	2,929.4	59.3	15.5
Mar-22	2,868.6	-73.7	12.8
Jun-22	2,699.1	-200.6	31.1
Sep-22	2,706	-11.5	18.4
Dec-22	2,799.9	81.6	12.3
Mar-23	2,909.5	82.4	27.1
Jun-23	2,974.2	33.4	31.4
Sep-23	2,984.2	-14.5	24.4
Dec-23	3,123.1	121.8	17.1
Mar-24	3,269.8	122.1	24.6

Pension funds' financial assets

["","Total assets (RHS)","Revaluations (LHS)","Transactions (LHS)"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[1218.2],[1209],[1136.8],[1146.5999999999999],[1207.0999999999999],[1202.4000000000001],[1247.2],[1298.2],[1361.0999999999999],[1378.8],[1454.8],[1508.7],[1544.3],[1575.8],[1611.5999999999999],[1665.8],[1762.5],[1745],[1719],[1775.0999999999999],[1748.7],[1821.5999999999999],[1895.5],[1947.7],[2001.8],[2050.5999999999999],[2064.4000000000001],[2158.0999999999999],[2143.6999999999998],[2217.9000000000001],[2263.3000000000002],[2150.1999999999998],[2281.0999999999999],[2382.9000000000001],[2441.5999999999999],[2494.9000000000001],[2239.0999999999999],[2376.3000000000002],[2409.5999999999999],[2569.6999999999998],[2639.8000000000002],[2799],[2854.5999999999999],[2929.4000000000001],[2868.5999999999999],[2699.0999999999999],[2706],[2799.9000000000001],[2909.5],[2974.1999999999998],[2984.1999999999998],[3123.0999999999999],[3269.8000000000002]],[[10.199999999999999],[-34.799999999999997],[-83.400000000000006],[-3.2999999999999998],[41.799999999999997],[-37.700000000000003],[30.699999999999999],[34.200000000000003],[43.799999999999997],[-20.600000000000001],[62.5],[28.699999999999999],[14.800000000000001],[-0.5],[11.800000000000001],[32.299999999999997],[79.900000000000006],[-52.299999999999997],[-45.600000000000001],[39.5],[-33.799999999999997],[42.700000000000003],[61.399999999999999],[33],[35],[9.3000000000000007],[2.8999999999999999],[73],[-29.5],[50.399999999999999],[32.399999999999999],[-127.5],[116.2],[74.700000000000003],[46.700000000000003],[30],[-269.69999999999999],[130.30000000000001],[25.300000000000001],[143],[49.200000000000003],[124],[39.600000000000001],[59.299999999999997],[-73.700000000000003],[-200.59999999999999],[-11.5],[81.599999999999994],[82.400000000000006],[33.399999999999999],[-14.5],[121.8],[122.09999999999999]],[[17.100000000000001],[25.699999999999999],[11.1],[13.1],[18.699999999999999],[33.100000000000001],[14.1],[16.699999999999999],[19.100000000000001],[38.200000000000003],[13.5],[25.199999999999999],[20.800000000000001],[32],[24.100000000000001],[21.899999999999999],[16.800000000000001],[34.799999999999997],[19.600000000000001],[16.5],[7.5],[30.199999999999999],[12.5],[19.300000000000001],[19.100000000000001],[39.5],[10.800000000000001],[20.800000000000001],[15.1],[23.800000000000001],[13],[14.5],[14.699999999999999],[27.100000000000001],[12],[23.300000000000001],[13.9],[7],[8],[17.100000000000001],[20.800000000000001],[35.200000000000003],[16],[15.5],[12.800000000000001],[31.100000000000001],[18.399999999999999],[12.300000000000001],[27.100000000000001],[31.399999999999999],[24.399999999999999],[17.100000000000001],[24.600000000000001]]]

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Government

National general government financial assets

National general government selected financial assets, $b
	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23	Transactions, Mar-24	Amounts outstanding, Mar-24
Total assets	2.1	724.1	13.0	742.7	18.5	776.0
Deposits	-4.0	122.3	1.3	122.5	10.6	133.7
	Central bank	-4.9	93.3	0.1	93.5	10.4	103.9
	Authorised deposit taking institutions	0.8	22.0	-2.1	19.8	1.2	21.0
One name paper	-5.0	32.6	3.0	35.5	-1.7	33.6
Shares and equity	-0.6	181.6	0.6	186.5	1.7	201.6
Other assets	11.7	387.5	8.1	398.2	7.8	407.0

National general government liabilities

National general government selected liabilities, $b
	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23	Transactions, Mar-24	Amounts Outstanding, Mar-24
Total liabilities	7.7	1,237.0	13.8	1,271.0	9.5	1,286.3
One name paper	0.9	27.2	0.2	27.4	0.8	28.2
Bonds	9.5	814.2	17.2	853.2	8.9	866.8
	Central bank	4.7	253.0	-1.6	258.2	1.0	260.2
	Authorised deposit taking institutions	-8.3	76.1	0.0	78.0	3.5	81.8
	Rest of world	7.5	377.7	16.0	404.8	9.5	417.5
Other liabilities	-2.6	395.6	-3.6	390.5	-0.2	391.3

State and local general government financial assets

State and local general government selected financial assets, $b
	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23	Transactions, Mar-24	Amounts Outstanding, Mar-24
Total assets	-8.5	693.9	-8.9	696.1	3.0	713.7
Deposits	-6.8	100.2	-9.3	90.8	0.2	91.1
Loans and placements	-3.9	71.7	-1.3	70.4	3.8	74.2
Shares and equity	0.6	489.5	0.7	501.0	-1.1	514.4
	State and local PNFCs	0.0	352.2	0.0	372.4	0.0	384.6
	Other private non-fin corps	0.1	40.7	-0.1	41.2	0.2	41.4
Other assets	1.6	32.5	1.0	33.9	0.2	34.1

State and local general government liabilities

State and local general government selected liabilities, $b
	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23	Transactions, Mar-24	Amounts Outstanding, Mar-24
Total liabilities	10.4	593.7	18.2	611.0	11.2	618.6
Loans and placements	8.1	394.1	15.7	409.8	10.8	420.6
	Central borrowing authorities	15.4	370.7	17.8	388.5	12.5	401.0
Unfunded superannuation claims	0.7	112.1	0.6	111.4	0.6	108.6
Other liabilities	1.7	87.6	2.0	89.8	-0.3	89.4

General government

General government (national, and state) were net lenders of $0.8b. This was driven by a:

$10.9b increase in deposit assets
$5.0b in loan and placement assets

Partly offset by a:

$10.6b borrowing of loans
$9.0b net issuance of bond liabilities

National general government were drivers of the net lending position, with a net financial position of $8.9b this quarter. The national general government's position was driven by a:

$10.6b increase in deposit assets

The rise in deposits placed with the central bank this quarter reflected elevated income and corporate tax receipts saved in preparation for upcoming bond maturities.

State and local general government were net borrowers of $8.1b. The state and local general government's position was mainly driven by a:

$10.8b borrowing of loans

Loan liabilities of state and local general governments grew for the eighth consecutive quarter. They reached record levels of $420.6b as state governments sourced funding for transport, health and childcare spending.

General government's change in financial position
	Net lending/borrowing ($b)	Deposits ($b)	Notes ($b)	Bonds ($b)	Loans ($b)	Other ($b)
Mar-11	-17.1	2.0	0.3	-12.5	-4.2	-2.8
Jun-11	-19.8	8.0	1.2	-10.4	-7.3	-11.3
Sep-11	-25.8	-3.5	-0.3	-21.3	-9.0	8.3
Dec-11	-14.9	11.3	0.9	-22.0	-2.1	-2.9
Mar-12	-13.2	3.4	-1.7	-13.8	-0.3	-0.7
Jun-12	-30.1	-7.4	1.4	-4.9	-5.0	-14.2
Sep-12	-24.3	9.3	-3.5	-15.2	-15.5	0.5
Dec-12	-12.4	2.9	-5.3	-10.8	6.3	-5.5
Mar-13	-15.5	0.5	1.8	-13.3	-2.1	-2.4
Jun-13	-14.0	1.0	14.3	-8.7	0.6	-21.2
Sep-13	-20.2	6.0	-1.5	-24.7	-11.3	11.4
Dec-13	-10.9	5.6	-0.4	-16.4	-0.3	0.7
Mar-14	-11.0	13.5	8.6	-27.8	-2.5	-2.8
Jun-14	-10.2	-8.4	-3.3	-4.6	1.0	5.1
Sep-14	-18.4	6.5	-1.7	-18.4	-4.5	-0.3
Dec-14	-10.0	0.4	-1.1	-10.8	3.3	-1.8
Mar-15	-3.6	12.2	3.5	-16.0	0.4	-3.8
Jun-15	-8.4	-5.1	-0.2	-7.3	2.1	2.2
Sep-15	-15.0	1.9	-1.9	-26.3	-1.3	12.6
Dec-15	-7.2	-7.0	5.8	-7.6	6.8	-5.2
Mar-16	-8.8	9.3	1.7	-22.1	1.5	0.8
Jun-16	-6.0	1.1	0.5	-4.8	-0.4	-2.3
Sep-16	-22.1	-3.1	3.7	-24.0	-0.7	1.9
Dec-16	-24.1	11.5	0.8	-23.7	4.6	-17.3
Mar-17	2.2	7.9	0.5	-20.7	2.2	12.3
Jun-17	-12.8	15.7	6.9	-19.8	-0.5	-15.2
Sep-17	-18.7	-24.2	0.5	-0.9	-4.0	9.8
Dec-17	-2.6	8.6	-5.6	-14.7	1.7	7.4
Mar-18	-0.9	-1.0	-2.2	-5.1	1.6	5.8
Jun-18	-0.2	5.0	6.2	-11.3	6.2	-6.3
Sep-18	-18.5	-3.3	-0.3	-2.4	-1.8	-10.7
Dec-18	-9.2	-18.2	2.0	-2.3	-3.1	12.4
Mar-19	-0.3	-1.4	1.6	3.7	0.4	-4.7
Jun-19	-9.2	6.6	0.1	-10.5	-2.5	-3.0
Sep-19	-22.9	0.3	-1.3	-13.7	-8.6	0.3
Dec-19	-14.2	-7.7	-4.0	1.0	-6.3	2.8
Mar-20	-14.3	21.1	-16.3	-15.7	-12.7	9.3
Jun-20	-89.0	46.9	-25.8	-71.0	-26.0	-13.1
Sep-20	-102.6	42.4	0.1	-117.2	-30.6	2.7
Dec-20	-45.6	-32.3	16.5	-23.0	-21.7	14.9
Mar-21	-18.1	-15.0	14.0	-21.9	-0.5	5.3
Jun-21	-15.5	1.1	4.6	-5.7	1.1	-16.7
Sep-21	-43.4	9.6	0	-23.9	-26.7	-2.5
Dec-21	-25.6	8.8	-5.2	-8.4	-5.8	-15.1
Mar-22	-1.4	3.1	3.5	-18.2	0.3	9.9
Jun-22	-16.1	34.3	-8.6	-26.0	-16.2	0.4
Sep-22	-24.9	-6.6	1.3	4.6	-18.8	-5.4
Dec-22	-14.9	-14.2	-0.5	-1.5	-7.4	8.6
Mar-23	12.0	18.6	-4.9	-11.5	-2.2	11.9
Jun-23	6.0	11.6	10.0	14.9	-4.5	-26.0
Sep-23	-24.6	-10.8	-5.8	-7.2	-12.6	11.9
Dec-23	-28.0	-8.0	3.9	-15.4	-17.3	8.9
Mar-24	0.8	10.9	-2.5	-5.8	-5.6	3.8

General government's change in financial position

["","Net lending\/borrowing","Deposits","Notes","Bonds","Loans","Other"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[-17.100000000000001],[-19.800000000000001],[-25.800000000000001],[-14.9],[-13.199999999999999],[-30.100000000000001],[-24.300000000000001],[-12.4],[-15.5],[-14],[-20.199999999999999],[-10.9],[-11],[-10.199999999999999],[-18.399999999999999],[-10],[-3.6000000000000001],[-8.4000000000000004],[-15],[-7.2000000000000002],[-8.8000000000000007],[-6],[-22.100000000000001],[-24.100000000000001],[2.2000000000000002],[-12.800000000000001],[-18.699999999999999],[-2.6000000000000001],[-0.90000000000000002],[-0.20000000000000001],[-18.5],[-9.1999999999999993],[-0.29999999999999999],[-9.1999999999999993],[-22.899999999999999],[-14.199999999999999],[-14.300000000000001],[-89],[-102.59999999999999],[-45.600000000000001],[-18.100000000000001],[-15.5],[-43.399999999999999],[-25.600000000000001],[-1.3999999999999999],[-16.100000000000001],[-24.899999999999999],[-14.9],[12],[6],[-24.600000000000001],[-28],[0.80000000000000004]],[[2],[8],[-3.5],[11.300000000000001],[3.3999999999999999],[-7.4000000000000004],[9.3000000000000007],[2.8999999999999999],[0.5],[1],[6],[5.5999999999999996],[13.5],[-8.4000000000000004],[6.5],[0.40000000000000002],[12.199999999999999],[-5.0999999999999996],[1.8999999999999999],[-7],[9.3000000000000007],[1.1000000000000001],[-3.1000000000000001],[11.5],[7.9000000000000004],[15.699999999999999],[-24.199999999999999],[8.5999999999999996],[-1],[5],[-3.2999999999999998],[-18.199999999999999],[-1.3999999999999999],[6.5999999999999996],[0.29999999999999999],[-7.7000000000000002],[21.100000000000001],[46.899999999999999],[42.399999999999999],[-32.299999999999997],[-15],[1.1000000000000001],[9.5999999999999996],[8.8000000000000007],[3.1000000000000001],[34.299999999999997],[-6.5999999999999996],[-14.199999999999999],[18.600000000000001],[11.6],[-10.800000000000001],[-8],[10.9]],[[0.29999999999999999],[1.2],[-0.29999999999999999],[0.90000000000000002],[-1.7],[1.3999999999999999],[-3.5],[-5.2999999999999998],[1.8],[14.300000000000001],[-1.5],[-0.40000000000000002],[8.5999999999999996],[-3.2999999999999998],[-1.7],[-1.1000000000000001],[3.5],[-0.20000000000000001],[-1.8999999999999999],[5.7999999999999998],[1.7],[0.5],[3.7000000000000002],[0.80000000000000004],[0.5],[6.9000000000000004],[0.5],[-5.5999999999999996],[-2.2000000000000002],[6.2000000000000002],[-0.29999999999999999],[2],[1.6000000000000001],[0.10000000000000001],[-1.3],[-4],[-16.300000000000001],[-25.800000000000001],[0.10000000000000001],[16.5],[14],[4.5999999999999996],[0],[-5.2000000000000002],[3.5],[-8.5999999999999996],[1.3],[-0.5],[-4.9000000000000004],[10],[-5.7999999999999998],[3.8999999999999999],[-2.5]],[[-12.5],[-10.4],[-21.300000000000001],[-22],[-13.800000000000001],[-4.9000000000000004],[-15.199999999999999],[-10.800000000000001],[-13.300000000000001],[-8.6999999999999993],[-24.699999999999999],[-16.399999999999999],[-27.800000000000001],[-4.5999999999999996],[-18.399999999999999],[-10.800000000000001],[-16],[-7.2999999999999998],[-26.300000000000001],[-7.5999999999999996],[-22.100000000000001],[-4.7999999999999998],[-24],[-23.699999999999999],[-20.699999999999999],[-19.800000000000001],[-0.90000000000000002],[-14.699999999999999],[-5.0999999999999996],[-11.300000000000001],[-2.3999999999999999],[-2.2999999999999998],[3.7000000000000002],[-10.5],[-13.699999999999999],[1],[-15.699999999999999],[-71],[-117.2],[-23],[-21.899999999999999],[-5.7000000000000002],[-23.899999999999999],[-8.4000000000000004],[-18.199999999999999],[-26],[4.5999999999999996],[-1.5],[-11.5],[14.9],[-7.2000000000000002],[-15.4],[-5.7999999999999998]],[[-4.2000000000000002],[-7.2999999999999998],[-9],[-2.1000000000000001],[-0.29999999999999999],[-5],[-15.5],[6.2999999999999998],[-2.1000000000000001],[0.59999999999999998],[-11.300000000000001],[-0.29999999999999999],[-2.5],[1],[-4.5],[3.2999999999999998],[0.40000000000000002],[2.1000000000000001],[-1.3],[6.7999999999999998],[1.5],[-0.40000000000000002],[-0.69999999999999996],[4.5999999999999996],[2.2000000000000002],[-0.5],[-4],[1.7],[1.6000000000000001],[6.2000000000000002],[-1.8],[-3.1000000000000001],[0.40000000000000002],[-2.5],[-8.5999999999999996],[-6.2999999999999998],[-12.699999999999999],[-26],[-30.600000000000001],[-21.699999999999999],[-0.5],[1.1000000000000001],[-26.699999999999999],[-5.7999999999999998],[0.29999999999999999],[-16.199999999999999],[-18.800000000000001],[-7.4000000000000004],[-2.2000000000000002],[-4.5],[-12.6],[-17.300000000000001],[-5.5999999999999996]],[[-2.7999999999999998],[-11.300000000000001],[8.3000000000000007],[-2.8999999999999999],[-0.69999999999999996],[-14.199999999999999],[0.5],[-5.5],[-2.3999999999999999],[-21.199999999999999],[11.4],[0.69999999999999996],[-2.7999999999999998],[5.0999999999999996],[-0.29999999999999999],[-1.8],[-3.7999999999999998],[2.2000000000000002],[12.6],[-5.2000000000000002],[0.80000000000000004],[-2.2999999999999998],[1.8999999999999999],[-17.300000000000001],[12.300000000000001],[-15.199999999999999],[9.8000000000000007],[7.4000000000000004],[5.7999999999999998],[-6.2999999999999998],[-10.699999999999999],[12.4],[-4.7000000000000002],[-3],[0.29999999999999999],[2.7999999999999998],[9.3000000000000007],[-13.1],[2.7000000000000002],[14.9],[5.2999999999999998],[-16.699999999999999],[-2.5],[-15.1],[9.9000000000000004],[0.40000000000000002],[-5.4000000000000004],[8.5999999999999996],[11.9],[-26],[11.9],[8.9000000000000004],[3.7999999999999998]]]

[]

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(a) "Other" includes gold and special drawing rights, currency, bills of exchange, derivatives, shares and equity, unfunded superannuation and accounts payable/receivable.

Capital investment

Figures in the capital investment section are in seasonally adjusted current prices.

Net lending (+) / borrowing (-)

Australia returned to a net borrowing position of $4.9b, following a net lending position of $2.5b in the previous quarter.

This was driven by a:

$7.1b increase in change in inventories
$2.4b decrease in net savings
$0.2b increase in gross fixed capital formation

and partly offset by a:

$0.2b decrease in acquisitions less disposals of non-produced non-financial assets

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted
	Net lending / net borrowing relative to GDP (%)
Mar-67	-2.6
Jun-67	-1.9
Sep-67	-2.9
Dec-67	-2.9
Mar-68	-5.2
Jun-68	-3.2
Sep-68	-3.7
Dec-68	-2.4
Mar-69	-2.4
Jun-69	-2.3
Sep-69	-1.4
Dec-69	-1.7
Mar-70	-1.4
Jun-70	-1.9
Sep-70	-1.5
Dec-70	-1.7
Mar-71	-2.1
Jun-71	-1.1
Sep-71	-0.8
Dec-71	-1.4
Mar-72	-0.2
Jun-72	1.1
Sep-72	1.6
Dec-72	2.2
Mar-73	2.0
Jun-73	1.6
Sep-73	0.4
Dec-73	0.4
Mar-74	-1.9
Jun-74	-3.5
Sep-74	-3.1
Dec-74	-2.5
Mar-75	-0.4
Jun-75	0.1
Sep-75	-1.1
Dec-75	-1.9
Mar-76	-1.8
Jun-76	-1.1
Sep-76	-1.2
Dec-76	-1.8
Mar-77	-3.0
Jun-77	-2.9
Sep-77	-3.1
Dec-77	-1.2
Mar-78	-2.9
Jun-78	-3.1
Sep-78	-3.7
Dec-78	-3.6
Mar-79	-2.0
Jun-79	-2.0
Sep-79	-1.8
Dec-79	-0.7
Mar-80	-1.0
Jun-80	-1.8
Sep-80	-3.9
Dec-80	-3.3
Mar-81	-2.9
Jun-81	-4.2
Sep-81	-4.1
Dec-81	-5.4
Mar-82	-5.5
Jun-82	-4.8
Sep-82	-3.5
Dec-82	-3.4
Mar-83	-3.6
Jun-83	-3.0
Sep-83	-3.7
Dec-83	-2.9
Mar-84	-4.0
Jun-84	-3.5
Sep-84	-4.5
Dec-84	-5.2
Mar-85	-4.1
Jun-85	-4.5
Sep-85	-5.6
Dec-85	-5.7
Mar-86	-6.0
Jun-86	-5.6
Sep-86	-4.8
Dec-86	-4.3
Mar-87	-4.1
Jun-87	-3.2
Sep-87	-3.3
Dec-87	-3.3
Mar-88	-3.0
Jun-88	-2.9
Sep-88	-3.9
Dec-88	-4.9
Mar-89	-5.6
Jun-89	-6.0
Sep-89	-6.5
Dec-89	-6.3
Mar-90	-6.2
Jun-90	-4.4
Sep-90	-4.2
Dec-90	-4.9
Mar-91	-3.9
Jun-91	-3.3
Sep-91	-3.1
Dec-91	-3.0
Mar-92	-3.0
Jun-92	-3.3
Sep-92	-3.8
Dec-92	-3.2
Mar-93	-3.0
Jun-93	-3.2
Sep-93	-3.3
Dec-93	-2.9
Mar-94	-2.9
Jun-94	-4.4
Sep-94	-5.5
Dec-94	-5.4
Mar-95	-5.8
Jun-95	-5.1
Sep-95	-4.5
Dec-95	-4.9
Mar-96	-4.0
Jun-96	-2.8
Sep-96	-3.9
Dec-96	-3.4
Mar-97	-3.0
Jun-97	-2.0
Sep-97	-3.1
Dec-97	-3.7
Mar-98	-5.1
Jun-98	-4.2
Sep-98	-5.6
Dec-98	-4.9
Mar-99	-5.7
Jun-99	-6.0
Sep-99	-5.7
Dec-99	-4.8
Mar-00	-4.9
Jun-00	-5.0
Sep-00	-3.4
Dec-00	-3.4
Mar-01	-2.5
Jun-01	-2.2
Sep-01	-1.7
Dec-01	-2.8
Mar-02	-2.7
Jun-02	-3.6
Sep-02	-3.9
Dec-02	-5.0
Mar-03	-5.0
Jun-03	-5.6
Sep-03	-5.3
Dec-03	-5.4
Mar-04	-5.7
Jun-04	-5.5
Sep-04	-6.6
Dec-04	-7.3
Mar-05	-6.6
Jun-05	-5.7
Sep-05	-6.0
Dec-05	-5.8
Mar-06	-5.5
Jun-06	-6.3
Sep-06	-5.8
Dec-06	-6.0
Mar-07	-6.1
Jun-07	-6.7
Sep-07	-6.9
Dec-07	-7.3
Mar-08	-6.8
Jun-08	-5.9
Sep-08	-4.0
Dec-08	-3.0
Mar-09	-1.5
Jun-09	-5.0
Sep-09	-5.2
Dec-09	-6.5
Mar-10	-5.5
Jun-10	-2.9
Sep-10	-3.0
Dec-10	-3.4
Mar-11	-3.4
Jun-11	-3.1
Sep-11	-2.6
Dec-11	-3.0
Mar-12	-4.6
Jun-12	-3.7
Sep-12	-4.4
Dec-12	-4.7
Mar-13	-3.5
Jun-13	-3.6
Sep-13	-3.7
Dec-13	-2.8
Mar-14	-2.6
Jun-14	-3.2
Sep-14	-3.4
Dec-14	-3.0
Mar-15	-3.3
Jun-15	-5.1
Sep-15	-4.9
Dec-15	-5.3
Mar-16	-4.3
Jun-16	-4.3
Sep-16	-3.4
Dec-16	-1.5
Mar-17	-1.9
Jun-17	-2.4
Sep-17	-2.7
Dec-17	-3.4
Mar-18	-2.6
Jun-18	-2.8
Sep-18	-2.2
Dec-18	-1.4
Mar-19	-0.9
Jun-19	0.6
Sep-19	1.3
Dec-19	0.3
Mar-20	1.0
Jun-20	3.0
Sep-20	2.0
Dec-20	2.6
Mar-21	3.7
Jun-21	3.4
Sep-21	3.8
Dec-21	0.7
Mar-22	0.6
Jun-22	2.0
Sep-22	-0.2
Dec-22	0.9
Mar-23	1.2
Jun-23	0.4
Sep-23	-0.9
Dec-23	0.4
Mar-24	-0.7

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted

["","Net lending \/ net borrowing relative to GDP"]

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[]

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National net lending as a proportion of GDP declined to a borrowing position this quarter, driven by a rise in change in inventories and a fall in net savings.

Financial corporations' net lending decreased by $1.7b to $15.2b.
Non-financial corporations' net borrowing decreased by $0.5b to $3.6b.
General government net borrowing decreased by $0.3b to $9.5b.
Households' net lending decreased by $2.0b to a net borrowing position of $1.0b.

Notable drivers included the following:

Financial corporations' net lending was driven by a decrease in net savings due to an increase in property income payable for interest and reinvested earnings.
Non-financial corporations' net borrowing was driven by an increase in consumption of fixed capital and a decrease in acquisitions less disposals of non-produced non-financial assets.
General government net borrowing was driven by an increase in net savings due to increases in income tax from resident corporations and taxes on production and imports, and an increase in consumption of fixed capital.
Households' net borrowing was driven by a decrease in net savings due to an increase in final consumption expenditure, and an increase in changes in inventories.

Net lending (+) / borrowing (-), by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Mar-11	-16.8	8.0	-17.2	11.3
Jun-11	-19.3	12.8	-16.7	10.4
Sep-11	-14.9	11.1	-16.3	12.3
Dec-11	-17.4	10.6	-19.5	15.6
Mar-12	-24.5	11.9	-14.2	11.0
Jun-12	-21.3	10.4	-19.1	13.3
Sep-12	-23.7	11.8	-13.3	6.7
Dec-12	-28.9	11.2	-11.8	9.8
Mar-13	-21.8	9.3	-14.0	12.1
Jun-13	-26.1	9.7	-4.5	10.8
Sep-13	-21.4	8.6	-11.8	9.8
Dec-13	-22.3	8.5	-11.3	11.6
Mar-14	-20.5	8.7	-12.2	11.9
Jun-14	-22.8	7.8	-9.0	13.6
Sep-14	-23.6	8.0	-10.3	10.8
Dec-14	-20.4	5.8	-10.4	10.4
Mar-15	-22.5	7.1	-8.3	9.2
Jun-15	-22.5	5.0	-7.2	10.9
Sep-15	-25.3	7.0	-6.9	7.5
Dec-15	-25.0	8.7	-7.0	3.8
Mar-16	-21.6	7.4	-11.1	3.6
Jun-16	-20.4	8.6	-11.9	4.2
Sep-16	-17.8	8.1	-10.6	3.9
Dec-16	-10.6	7.0	-5.7	2.3
Mar-17	-9.1	4.7	-3.0	2.6
Jun-17	-11.0	7.4	-8.5	0.8
Sep-17	-15.7	7.6	-5.1	0.8
Dec-17	-15.8	5.3	-6.6	3.7
Mar-18	-14.2	7.6	-6.2	2.9
Jun-18	-21.7	6.7	-5.2	1.2
Sep-18	-16.8	5.3	-4.7	3.0
Dec-18	-15.3	6.0	-7.5	7.1
Mar-19	-8.9	6.6	-7.9	10.8
Jun-19	-8.1	6.7	-6.5	8.9
Sep-19	-7.8	4.7	-11.3	17.1
Dec-19	-9.2	4.2	-12.0	14.7
Mar-20	-1.5	2.9	-14.5	23.8
Jun-20	26.0	13.7	-97.2	72.4
Sep-20	25.9	4.2	-85.8	62.0
Dec-20	16.4	3.7	-44.0	37.1
Mar-21	10.4	2.8	-25.8	36.6
Jun-21	4.6	4.5	-14.5	26.4
Sep-21	-7.3	4.0	-35.4	55.3
Dec-21	-3.8	0.8	-23.3	29.2
Mar-22	7.1	-5.0	-15.2	25.5
Jun-22	9.8	5.3	-14.3	14.7
Sep-22	-10.7	7.2	-13.8	14.8
Dec-22	-21.6	11.7	-3.0	0.5
Mar-23	11.6	5.9	-3.7	2.0
Jun-23	-1.0	11.6	-12.0	-1.5
Sep-23	-13.2	11.0	-3.1	-4.8
Dec-23	-4.1	16.9	-9.8	1.0
Mar-24	-3.6	15.2	-9.5	-1.0

Net lending (+) / borrowing (-), by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

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[]

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Capital Investment

National capital investment decreased to 24.0% as a proportion of GDP, while increasing 0.1% in current price seasonally adjusted terms.

Relative to GDP:

Household capital investment decreased to 7.7%
Non-financial corporations' capital investment decreased to 11.7%
Financial corporations' capital investment remained at 0.5%
General government capital investment remained at 4.0%

In current price seasonally adjusted terms:

Non-financial corporations' capital investment decreased, driven by a decrease in public and private non-financial corporations
General government capital investment increased, driven by an increase in state and local general government

Gross fixed capital formation, by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Mar-11	49.1	2.2	13.6	29.0
Jun-11	50.3	2.2	12.2	29.0
Sep-11	56.4	2.2	12.8	28.3
Dec-11	55.6	2.2	15.3	27.5
Mar-12	61.0	2.3	12.3	27.4
Jun-12	64.0	2.3	13.7	27.3
Sep-12	63.8	2.5	13.1	28.0
Dec-12	65.9	2.5	12.7	28.3
Mar-13	62.1	2.5	13.2	28.0
Jun-13	62.5	2.5	11.6	29.0
Sep-13	63.4	2.4	12.3	29.6
Dec-13	63.0	2.3	12.7	30.2
Mar-14	60.7	2.4	13.1	31.1
Jun-14	59.6	2.4	13.0	31.6
Sep-14	56.8	2.7	13.0	33.4
Dec-14	56.2	2.8	12.5	35.2
Mar-15	55.0	2.7	12.3	36.3
Jun-15	54.5	2.6	13.1	36.2
Sep-15	52.6	2.9	12.1	37.9
Dec-15	51.8	2.9	12.3	38.1
Mar-16	49.3	2.8	14.3	38.5
Jun-16	47.3	2.8	14.9	39.5
Sep-16	45.4	2.8	13.8	40.0
Dec-16	47.3	2.8	14.4	40.9
Mar-17	46.6	2.8	15.7	41.1
Jun-17	45.6	2.8	18.3	41.4
Sep-17	51.1	2.5	16.7	40.6
Dec-17	50.0	3.0	17.4	40.8
Mar-18	50.7	3.0	17.3	42.0
Jun-18	50.6	3.0	18.1	42.8
Sep-18	51.8	3.0	18.5	41.4
Dec-18	51.4	3.0	18.8	40.3
Mar-19	52.0	2.9	19.0	39.1
Jun-19	52.3	3.0	19.4	38.2
Sep-19	53.3	2.8	19.5	38.1
Dec-19	52.8	2.8	20.3	38.0
Mar-20	52.6	2.7	19.8	38.3
Jun-20	51.0	2.5	19.4	35.7
Sep-20	50.7	2.6	19.0	36.5
Dec-20	51.9	2.7	20.1	39.2
Mar-21	54.4	2.8	20.1	42.4
Jun-21	56.6	2.9	22.0	45.1
Sep-21	58.1	3.0	21.6	45.5
Dec-21	59.8	3.0	21.8	46.9
Mar-22	61.6	3.1	22.7	48.6
Jun-22	64.8	3.2	24.2	48.8
Sep-22	67.3	2.9	23.7	49.1
Dec-22	69.1	3.0	24.1	49.3
Mar-23	72.3	3.0	25.2	49.9
Jun-23	76.5	3.2	27.5	52.1
Sep-23	77.3	3.3	27.0	52.0
Dec-23	79.3	3.2	26.5	51.8
Mar-24	79.0	3.2	26.7	51.9

Gross fixed capital formation, by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

[["Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24"],[[49.100000000000001],[50.299999999999997],[56.399999999999999],[55.600000000000001],[61],[64],[63.799999999999997],[65.900000000000006],[62.100000000000001],[62.5],[63.399999999999999],[63],[60.700000000000003],[59.600000000000001],[56.799999999999997],[56.200000000000003],[55],[54.5],[52.600000000000001],[51.799999999999997],[49.299999999999997],[47.299999999999997],[45.399999999999999],[47.299999999999997],[46.600000000000001],[45.600000000000001],[51.100000000000001],[50],[50.700000000000003],[50.600000000000001],[51.799999999999997],[51.399999999999999],[52],[52.299999999999997],[53.299999999999997],[52.799999999999997],[52.600000000000001],[51],[50.700000000000003],[51.899999999999999],[54.399999999999999],[56.600000000000001],[58.100000000000001],[59.799999999999997],[61.600000000000001],[64.799999999999997],[67.299999999999997],[69.099999999999994],[72.299999999999997],[76.5],[77.299999999999997],[79.299999999999997],[79]],[[2.2000000000000002],[2.2000000000000002],[2.2000000000000002],[2.2000000000000002],[2.2999999999999998],[2.2999999999999998],[2.5],[2.5],[2.5],[2.5],[2.3999999999999999],[2.2999999999999998],[2.3999999999999999],[2.3999999999999999],[2.7000000000000002],[2.7999999999999998],[2.7000000000000002],[2.6000000000000001],[2.8999999999999999],[2.8999999999999999],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.5],[3],[3],[3],[3],[3],[2.8999999999999999],[3],[2.7999999999999998],[2.7999999999999998],[2.7000000000000002],[2.5],[2.6000000000000001],[2.7000000000000002],[2.7999999999999998],[2.8999999999999999],[3],[3],[3.1000000000000001],[3.2000000000000002],[2.8999999999999999],[3],[3],[3.2000000000000002],[3.2999999999999998],[3.2000000000000002],[3.2000000000000002]],[[13.6],[12.199999999999999],[12.800000000000001],[15.300000000000001],[12.300000000000001],[13.699999999999999],[13.1],[12.699999999999999],[13.199999999999999],[11.6],[12.300000000000001],[12.699999999999999],[13.1],[13],[13],[12.5],[12.300000000000001],[13.1],[12.1],[12.300000000000001],[14.300000000000001],[14.9],[13.800000000000001],[14.4],[15.699999999999999],[18.300000000000001],[16.699999999999999],[17.399999999999999],[17.300000000000001],[18.100000000000001],[18.5],[18.800000000000001],[19],[19.399999999999999],[19.5],[20.300000000000001],[19.800000000000001],[19.399999999999999],[19],[20.100000000000001],[20.100000000000001],[22],[21.600000000000001],[21.800000000000001],[22.699999999999999],[24.199999999999999],[23.699999999999999],[24.100000000000001],[25.199999999999999],[27.5],[27],[26.5],[26.699999999999999]],[[29],[29],[28.300000000000001],[27.5],[27.399999999999999],[27.300000000000001],[28],[28.300000000000001],[28],[29],[29.600000000000001],[30.199999999999999],[31.100000000000001],[31.600000000000001],[33.399999999999999],[35.200000000000003],[36.299999999999997],[36.200000000000003],[37.899999999999999],[38.100000000000001],[38.5],[39.5],[40],[40.899999999999999],[41.100000000000001],[41.399999999999999],[40.600000000000001],[40.799999999999997],[42],[42.799999999999997],[41.399999999999999],[40.299999999999997],[39.100000000000001],[38.200000000000003],[38.100000000000001],[38],[38.299999999999997],[35.700000000000003],[36.5],[39.200000000000003],[42.399999999999999],[45.100000000000001],[45.5],[46.899999999999999],[48.600000000000001],[48.799999999999997],[49.100000000000001],[49.299999999999997],[49.899999999999999],[52.100000000000001],[52],[51.799999999999997],[51.899999999999999]]]

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Data downloads

Download all (10.55 MB)

Time series spreadsheets

Data files

TABLE 1. Credit Market Outstandings ($ million)
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TABLE 2. Demand for Credit ($ million)
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TABLE 3. National Capital Account, Current prices ($ million)
Download xlsx [79.98 KB]
TABLE 4. National Financial Assets and Liabilities ($ million)
Download xlsx [104.12 KB]
TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [77.85 KB]
TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)
Download xlsx [376.88 KB]
TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [74.38 KB]
TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)
Download xlsx [372.45 KB]
TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)
Download xlsx [229.51 KB]
TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)
Download xlsx [377.31 KB]
TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [73.24 KB]
TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)
Download xlsx [263.58 KB]
TABLE 13. Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [73.16 KB]
TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)
Download xlsx [350.08 KB]
TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)
Download xlsx [161.7 KB]
TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)
Download xlsx [482.49 KB]
TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)
Download xlsx [314.62 KB]
TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)
Download xlsx [222.12 KB]
TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)
Download xlsx [70.78 KB]
TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)
Download xlsx [294.67 KB]
TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)
Download xlsx [292.16 KB]
TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)
Download xlsx [142.43 KB]
TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)
Download xlsx [271.34 KB]
TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)
Download xlsx [258.78 KB]
TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)
Download xlsx [201.83 KB]
TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)
Download xlsx [315.72 KB]
TABLE 27. General Government Capital Account, Current prices ($ million)
Download xlsx [77.22 KB]
TABLE 28. Financial Assets and Liabilities of General Government ($ million)
Download xlsx [300.75 KB]
TABLE 29. National General Government Capital Account, Current prices ($ million)
Download xlsx [76.5 KB]
TABLE 30. Financial Assets and Liabilities of National General Government ($ million)
Download xlsx [277.43 KB]
TABLE 31. State and Local General Government Capital Account, Current prices ($ million)
Download xlsx [76.64 KB]
TABLE 32. Financial Assets and Liabilities of State and Local General Government ($ million)
Download xlsx [190.06 KB]
TABLE 33. Household Capital Account, Current prices ($ million)
Download xlsx [76.57 KB]
TABLE 34. Financial Assets and Liabilities of Households ($ million)
Download xlsx [252.28 KB]
TABLE 35. Household Balance Sheet, Current prices ($ billion)
Download xlsx [79.66 KB]
TABLE 36. Analytical Measures of Household Income, Consumption, Saving and Wealth, Current prices ($ billion)
Download xlsx [66.74 KB]
TABLE 37. Rest of World Capital Account, Current prices ($ million)
Download xlsx [66 KB]
TABLE 38. Financial Assets and Liabilities of Rest of World ($ million)
Download xlsx [452.38 KB]
TABLE 39. The Currency Market ($ million)
Download xlsx [80 KB]
TABLE 40. The Transferable Deposits Market ($ million)
Download xlsx [114.45 KB]
TABLE 41. The Other Deposits Market ($ million)
Download xlsx [124.83 KB]
TABLE 42. The Bills of Exchange Market ($ million)
Download xlsx [105.14 KB]
TABLE 43. The One Name Paper Market ($ million)
Download xlsx [359.23 KB]
TABLE 44. The Bonds Market ($ million)
Download xlsx [458.75 KB]
TABLE 45. The Derivatives and Employee Stock Options Market ($ million)
Download xlsx [187.88 KB]
TABLE 46. The Short Term Loans and Placements Market ($ million)
Download xlsx [155.03 KB]
TABLE 47. The Long Term Loans and Placements Market ($ million)
Download xlsx [351.84 KB]
TABLE 48. The Listed Shares and Other Equity Market ($ million)
Download xlsx [253.59 KB]
TABLE 49. The Unlisted Shares and Other Equity Market ($ million)
Download xlsx [318.65 KB]
TABLE 50. Accounts Payable/Receivable ($ million)
Download xlsx [387.63 KB]
TABLE 51. Financial Accounts Summary of Authorised Deposit taking Institution Deposits and Lending Split by Household Subsectors ($ million)
Download xlsx [56.02 KB]
TABLE 52. Financial Accounts Summary of Loan Outstandings to Households for Housing by Type of Lending Institution ($ million)
Download xlsx [56.83 KB]
TABLE 53. Nominal Value of Short Term Loans and Placements Market ($ million)
Download xlsx [154.7 KB]
TABLE 54. Nominal Value of Long Term Loans and Placements Market ($ million)
Download xlsx [353.02 KB]

Previous catalogue number

This release previously used catalogue number 5232.0

Revisions and changes

Revisions in this issue

There have been revisions to previously published aggregates due to:

Quality assurance reviews affecting the published aggregates after March quarter 2022, in addition to amendments to data collected in the ABS Survey of Financial Information, ABS Survey of International Investment and to data derived from Australian Prudential Regulation Authority (APRA) administrative data sets.
Incorporation of revisions from the Australian System of National Accounts throughout the time series

AASB 17 accounting standard

The adoption of the AASB 17 accounting standard by the insurance industry has resulted in changes to reported data. Consequently, some of the estimates for life insurance corporations since the September quarter 2023 have been modelled. While these series continue to be published, users are advised to apply caution. The ABS is working with data providers to resolve these issues as quickly as possible.

Seasonal adjustment for leap years

The extra leap year day in 2024 is unlikely to impact seasonally adjusted statistics released by the Australian Bureau of Statistics (ABS) for February 2024 and March quarter 2024. This is because the effect of an additional leap year day is analysed and accounted for as part of the seasonal adjustment process, which includes the impact of trading days. The impact of the extra leap year day will be evident in the original (non-seasonally adjusted) series. For more information please refer to this note.

ABS Managed Funds publication

Following the conclusion of consultation with users and industry, the ABS has taken the decision to pause the ABS Managed Funds publication following the release of the December quarter 2023 issue. ABS survey data on public offer unit trusts will continue to be used in the compilation of associated sectors in the National Accounts: Finance and Wealth publication (tables 9 and 23). In this publication, adjustments are made to these sectors to account for scope and coverage, based on other counterparty information, though some underlying quality issues remain. Users are advised to apply caution when using these statistics and use the methodology and data quality notes when referencing any data points. For additional information please see the December quarter 2023 Managed Funds publication.

Methodology

Australian National Accounts: Finance and Wealth methodology, March 2024

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APA

Australian National Accounts: Finance and Wealth

APA

Key statistics

Main features

Financing resources and investment table

Financial market summary table

Flow of funds diagrams

Net transactions during March quarter 2024

Amounts outstanding at end of March quarter 2024

National investment

Financial investment

Households

General government

Demand for credit

Demand for credit table

Other private non-financial corporations

Households

General government

Households

Balance sheet

Financial assets

Liabilities

Non-financial assets

Financial assets

Liabilities

Private non-financial corporations

Financial assets

Liabilities

Other private non-financial corporations demand for credit

Financial corporations

Financial assets and liabilities

Authorised deposit-taking institutions (ADIs)

Financial assets

Liabilities

Pension (superannuation) funds

Financial assets

Liabilities

Government

National general government financial assets

National general government liabilities

State and local general government financial assets

State and local general government liabilities

General government

Capital investment

Net lending (+) / borrowing (-)

Capital Investment

Data downloads

Time series spreadsheets

TABLE 1. Credit Market Outstandings ($ million)

TABLE 2. Demand for Credit ($ million)

TABLE 3. National Capital Account, Current prices ($ million)

TABLE 4. National Financial Assets and Liabilities ($ million)

TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)

TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)

TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)

TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)

TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)

TABLE 13. Financial Corporations Capital Account, Current prices ($ million)

TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)

TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)

TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)

TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)

TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)

TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)

TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)

TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)

TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)

TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)

TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)

TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)

TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)

TABLE 27. General Government Capital Account, Current prices ($ million)

TABLE 28. Financial Assets and Liabilities of General Government ($ million)

TABLE 29. National General Government Capital Account, Current prices ($ million)

TABLE 30. Financial Assets and Liabilities of National General Government ($ million)

TABLE 31. State and Local General Government Capital Account, Current prices ($ million)