DECEMBER KEY FIGURES

		Credit market outstandings at end	Demand for credit during	Other changes during	Credit market outstandings at end
		Sep Qtr 2008	Dec Qtr 2008	Dec Qtr 2008	Dec Qtr 2008
Non-financial domestic sectors		$b	$b	$b	$b
Non-financial corporations
	Private	1 892.1	41.2	-178.6	1 754.7
	National public	1.1	-0.1	0.0	1.0
	State and local public	71.8	5.5	0.0	77.3
General government
	National	60.1	0.1	2.7	62.8
	State and local	50.8	3.1	0.0	54.0
Households		1 272.6	8.5	0.0	1 281.2
Total		3 348.5	58.4	-175.9	3 231.0

Total demand for credit

Credit market outstandings

DECEMBER KEY POINTS


SUMMARY

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

NON-FINANCIAL CORPORATIONS

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

GENERAL GOVERNMENT

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

HOUSEHOLDS

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

NOTES

FORTHCOMING ISSUES

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

CHANGES TO THIS ISSUE

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


SIGNIFICANT EVENTS

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

There were no significant privatisations impacting the aggregates this quarter.


REVISIONS IN THIS ISSUE

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


INQUIRIES

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