Note 03/07/2009: This pdf file was replaced to correct errors affecting 5 tables.
The affected tables are:
Table 13 - Financial assets and liabilities, National general government
Table 21 - Financial transactions, Central bank
Table 28 - Financial transactions, Financial intermediaries n.e.c.
Table 32 - Financial transactions, Rest of world
Table 39 - The loans and placements market
These tables had data from the December quarter 2008, and hadn't been updated. This problem does not impact on the time series spreadsheets or any commentary.
MARCH KEY FIGURES

		Credit market outstandings at end	Demand for credit during	Other changes during	Credit market outstandings at end
		Dec Qtr 2008	Mar Qtr 2009	Mar Qtr 2009	Mar Qtr 2009
Non-financial domestic sectors		$b	$b	$b	$b
Non-financial corporations
	Private	1 773.8	10.3	-23.3	1 760.8
	National public	1.0	0.0	0.0	1.0
	State and local public	77.4	4.6	0.0	82.0
General government
	National	64.0	3.5	2.5	70.0
	State and local	54.0	0.8	0.1	54.9
Households		1 284.1	15.0	0.0	1 299.2
Total		3 254.3	34.2	-20.7	3 267.8

Total demand for credit

Credit market outstandings

MARCH KEY POINTS


SUMMARY

• Total credit market outstandings of the domestic non-financial sectors at 31 March 2009 was $3,267.8b, an increase of $13.5b from the previous quarter. Demand for credit during the quarter was $34.2b and valuation decreases were $20.7b.
• Demand for credit was down $32.0b from the previous quarter, driven by decreased demand by private non-financial corporations (down $33.0b), state and local public non-financial corporations (down $3.5b) and state and local general government (down $2.3b). This was offset by an increase in demand by households and national general government, $3.5b and $3.2b respectively.

NON-FINANCIAL CORPORATIONS

• Non-financial corporations raised a net $10.3b, mostly through share issuance of $18.1b. This was offset by repayments of loans of $10.5b.

GENERAL GOVERNMENT

• National general government issued one name paper of $3.4b.

HOUSEHOLDS

• Households raised a net $15.0b during the March quarter 2009, up $3.5b from the December quarter 2008 estimate of $11.5b.

NOTES

FORTHCOMING ISSUES

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

CHANGES TO THIS ISSUE

There are no significant changes to this issue.


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.

The Central bank, banks, financial intermediaries n.e.c. and bond market tables include estimates for internally securitised paper. Please refer to page 6 of the December quarter 2008 release for the ABS treatment of these securities.

There were no significant privatisations impacting the aggregates this quarter.


REVISIONS IN THIS ISSUE

There have been revisions back to June 2005 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.