JUNE KEY FIGURES
 | | Credit market outstandings at end | Demand for credit during | Other changes during | Credit market outstandings at end |
| | Mar Qtr 2007 | Jun Qtr 2007 | Jun Qtr 2007 | Jun Qtr 2007 |
Non-financial domestic sectors | $b | $b | $b | $b |
|
| Non-financial corporations | | | | |
| Private | 1 835.4 | 42.7 | 62.6 | 1 940.6 |
| National public | 1.4 | 0.1 | 0.0 | 1.4 |
| State and local public | 50.3 | 1.0 | 0.0 | 51.3 |
| General government | | | | |
| National | 56.9 | 0.7 | -0.8 | 56.8 |
| State and local | 32.4 | 1.7 | 0.0 | 34.1 |
| Households | 1 093.9 | 51.4 | 0.4 | 1 145.6 |
| Total | 3 070.4 | 97.5 | 62.1 | 3 230.0 |
|
Total demand for credit
| Credit market outstandings
|
JUNE KEY POINTS
SUMMARY
- Total demand for credit by the non-financial domestic sectors for the June quarter 2007 was $97.5b, an increase of $32.4b on the previous quarter estimate. Increased borrowing by households (up $30.2b) was the major contributor to the increase.
NON-FINANCIAL CORPORATIONS
- Private non-financial corporations raised a net $42.7b (down $1.5b), with equity raisings of $26.1b (up $10.8b) and loans of $20.3b (up $3.9b).
GENERAL GOVERNMENT
- National general government raised a net $0.7b by issuing bonds worth $0.8b during the quarter. State and local general government raised a net $1.7b through loan issuance.
HOUSEHOLDS
- Households raised a net $51.4b during the June quarter 2007, up from the March quarter estimate of $21.2b. Households borrowed $21.4b from banks (of which $4.0b was for owner-occupied housing and $5.3b for investment housing) and $25.3b from Financial intermediaries n.e.c. (up $19.6b).
NOTES
FORTHCOMING ISSUES
| ISSUE (QUARTER) | Release Date |
| September 2007 | 21 December 2007 |
| December 2007 | 28 March 2008 |
CHANGES TO THIS ISSUE
There are no significant changes in this issue.
SIGNIFICANT EVENTS
The impact of legislative changes announced in 2006 that provided incentives for people to make voluntary contributions to their superannuation before 1 July 2007 are reflected in this quarter's estimates of the financial assets of pension funds and their corresponding liability to households. These estimates are preliminary and are subject to revision in future quarters.
There were no significant privatisations impacting the aggregates this quarter.
REVISIONS IN THIS ISSUE
There have been significant revisions back to September quarter 2003 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 administration data sets
- a review of data sources and the application of various methods used in the compilation of the unlisted equity market have resulted in large revisions to the estimated values in these markets
- investigations into the intra-group positions of banks and other depository corporations have resulted in revisions in the currency and deposits and loans markets.
CONFIDENTIALITY OF FUTURE FUND
During the June quarter, the Future Fund commenced investment activity. The Future Fund is a National General Government (NGG) unit and thus the investment activity and associated holdings of assets are recorded as part of the NGG sector. In order to maximise the availability of information about the activities of the NGG sector, ABS legislation allows the publication of identifiable information about this sector except where a request for confidentiality has been received from the relevant Minister. A request has been received and the relevant estimates have been confidentialised in this publication. The estimates will remain confidential in all future releases published up to and including 30 June 2008. As a consequence of suppressing estimates concerning the Future Funds investment activity, it has been necessary to consequentially suppress other series in the affected tables to preserve confidentiality.
INQUIRIES
For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Steve Whennan on Canberra (02) 6252 6711.
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