Financial market summary

		Outstanding at end		Transactions during		Other changes during		Outstanding at end
		Dec Qtr 2018		Mar Qtr 2019		Mar Qtr 2019		Mar Qtr 2019
		$b		$b		$b		$b
Currency and deposits
	Currency	85.2		-1.4		-		83.8
	Transferable deposits	898.1		-3.2		-0.4		894.6
	Other deposits	1 642.9		2.4		-0.7		1 644.7
Short term debt securities
	Bills of exchange	31.3		-3.8		-		27.5
	One name paper	505.0		3.0		0.1		508.1
Long term debt securities
	Bonds, etc.	2 556.9		-7.5		52.9		2 602.3
Derivatives
	Derivatives	511.3		-47.7		72.2		535.9
Loans and placements
	Short term	374.3		15.3		-0.3		389.3
	Long term	3 811.6		14.3		-0.4		3 825.5
Shares and other equity
	Listed	1 773.8		1.1		156.9		1 931.8
	Unlisted	4 445.9		32.2		127.5		4 605.6
Insurance technical reserves
	Reserves of pension funds and life offices	2 429.7		22.9		109.8		2 562.4
	General insurance prepayments and reserves	114.8		4.5		-		119.3
- nil or rounded to zero (including null cells)

Revaluation gains in the stock market

Other private non-financial corporation shares drove the revaluation gains in the Australian stock market during the quarter.

Graph 1. The listed shares and other equity market



Revaluation gains in the bonds market

The total bonds market increased 1.8% driven by revaluations. Bonds issued onshore increased 2.7% due to positive revaluations in national general government bonds. Bonds issued offshore decreased 0.4% driven by net maturities of bank bonds held by rest of world.

Graph 2. The bonds market



Other notable events in financial markets during the quarter include:

• Growth in long term loan issuance was subdued at 0.4% due to decreased growth in banks issuance to rest of the world (-13.3%) as loans reached maturity
• Quarterly deposit growth dropped to -0.1%, driven by decreases in non-financial corporations transferable deposits with banks, other depository corporations and rest of world.