MARCH KEY FIGURES

		Credit market outstandings at end	Demand for credit during	Other changes during	Credit market outstandings at end
		Dec Qtr 2010	Mar Qtr 2011	Mar Qtr 2011	Mar Qtr 2011
NON-FINANCIAL DOMESTIC SECTORS		$b	$b	$b	$b
Non-financial corporations
	Investment funds	138.4	1.9	4.5	144.7
	Other private	1 891.0	22.6	-3.5	1 910.2
	National public	1.2	-0.1	-	1.2
	State and local public	99.7	0.5	-	100.2
General government
	National	182.1	10.3	2.7	195.2
	State and local	80.2	7.0	-	87.3
Households		1 473.8	22.0	0.4	1 496.1
Total		3 866.5	64.2	4.1	3 934.8
- nil or rounded to zero (including null cells)

Total demand for credit

Credit market outstandings

MARCH KEY POINTS


SUMMARY

• Total credit market outstanding of the domestic non-financial sectors at 31 March 2011 was $3,934.8b, an increase of $68.3b from the previous quarter. Demand for credit during the quarter was $64.2b and valuation increases were $4.1b.
• Demand for credit was up $8.8b from the previous quarter, driven by increased demand by state and local general government (up $8.7b), state and local public non-financial corporations (up $2.2b) and other private non-financial corporations (up $1.8b). This was offset by a decrease in demand by national general government (down $3.7b).

NON-FINANCIAL CORPORATIONS

• Private non-financial investment funds raised a net $1.9b during the March quarter 2011 mostly funded from share issuance $1.5b and bonds $1.1b. Other private non-financial corporations raised a net $22.6b, mostly funded from issuance of shares, $14.4b, loans and placements, $7.8b and bonds, $3.8b.

GENERAL GOVERNMENT

• National general government issued bonds of $13.3b and had $3.2b of one name paper redeemed. State and local general government borrowed $7.1b in loans in the quarter.

HOUSEHOLDS

• Households raised a net $22.0b during the March quarter 2011, down $0.1b from the December quarter 2010 estimate of $22.1b.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
June 2011	30 September 2011
September 2011	15 December 2011
December 2011	29 March 2012
March 2012	28 June 2012

CHANGES TO THIS ISSUE

Following ongoing quality assurance work a number of data quality issues have been identified with table 37 - National capital accounts by sector and subsector. This table will be unavailable until further notice. However, capital account by sector will continue to be published as part of table 22 - flow of funds matrix.


SIGNIFICANT EVENTS

During the March quarter 2011 the investment activity of some units have been confidentialised to maintain the anonymity of those units that have not yet given approval to publish their investment activity and in the case where they may be identifiable. Included are units impacted by the privatisation of four Government owned enterprises, life insurance institutions and listed other financial institutions. As a consequence of suppressing estimates directly impacted, it has been necessary to consequentially suppress other series in the affected table to preserve confidentiality. Statistics published in this issue reflect these changes.

The Central bank, banks, securitisers 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.


REVISIONS IN THIS ISSUE

There have been revisions back to June 2002 to previously published aggregates due to quality assurance work undertaken through a review of the compilation of the published estimates and through data providers to the ABS Survey of Financial Information, ABS Survey of International Invetsment and APRA administrative data sets. As a result there are a number of series breaks between March quarter 2002 and June quarter 2002. These series have yet to be backcasted to June quarter 1988, the beginning of the time-series. If you would like more details regarding these series, please contact us on our inquiries line.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Sachind Naidu on Canberra (02) 6252 6417, email <national.accounts@ abs.gov.au>.