5232.0.55.001 - Assets and Liabilities of Australian Securitisers, Sep 2005  
ARCHIVED ISSUE Released at 11:30 AM (CANBERRA TIME) 28/11/2005   
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REVISIONS IN THIS ISSUE

As foreshadowed in the June 2005 issue, ABS has been undertaking quality assurance activity on possible under-reporting of asset backed securities in this survey. Estimates for asset backed securities and loans and placements in Table 2 of this issue, and residential mortgages in Table 1 and Table 3 of this issue, have been revised to account for omission of mortgages held by securitisation programs from June 2001 to June 2005.


There has also been a reclassification from other liabilities to residents to asset backed securities issued and loans and placements.


It should be noted that the revisions relate to mortgages acquired by securitisation trusts from originators, not loan approvals (commitments) by originators compiled in Housing Finance (cat. no. 5609.0).



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Monica Bourke on Canberra (02) 6252 6052.



SUMMARY COMMENTARY


SEPT QTR KEY FIGURES

Jun Qtr 2005
Sep Qtr 2005
% change Jun Qtr 2005 to Sept Qtr 2005
$m
$m
%
Total assets
185 829
189 348
1.9
of which
Mortgages
Residential
138 101
141 101
2.2
Non-residential
11 651
13 110
12.5
Total liabilities
185 829
189 348
1.9
of which
Asset backed Securities
Issued domestically
101 653
102 052
0.4
Issued off shore
64 910
65 520
0.9

Assets of Securitisers

At the end of the September quarter 2005, total assets of Australian Securitisers was $189.3b, up $3.5b (1.9%) on the revised June quarter total.

PERCENTAGE CHANGE IN TOTAL ASSETS, from previous quarter
Graph: Securitisers, Australia - Percentage Change in Total Assets



Mortgage assets, which accounted for 81.4% of total assets, were $154.2b at September 2005, an increase of $4.5b (3.0 %) during the quarter.


During the September quarter 2005, residential mortgages increased by $3.0b (2.2%). Non-residential mortgages increased by $1.5b (12.5%).

NET ACQUISITION OF MORTGAGES DURING QUARTER
Graph: Securitisers, Australia - Net Acquisition of Mortgages During Quarter



Asset backed securities

The increase of $3.5b in total assets during the September quarter was financed primarily by an increase in other liabilities to non residents (up $1.8b, 17.2%). Asset backed securities issued off-shore increased slightly (up $0.6b, 0.9%) to $65.5b. Asset backed securities issued domestically increased slightly by 0.4b (0.4%), with an increase in long term asset backed securities issued (up $1.0b, 1.3%), offsetting the reduction in short term asset backed securities issued (down $0.6b, -2.8%).

INCREASE IN ASSET BACKED SECURITIES, from previous quarter
Graph: Securitisers, Australia - Increase in Asset Backed Securities



Asset backed securities issued overseas fell slightly to 34.6% of total liabilities in the September 2005 quarter, down 0.3 percentage points on the June quarter. Asset backed securities issued domestically fell to 53.9%, down 0.8 percentage points of total liabilities from the revised June quarter.

ASSET BACKED SECURITIES, (percentage of total liabilities)
Graph: Securitisers, Australia - Asset Backed Securities