SEPTEMBER KEY FIGURES

		Credit market outstandings at end	Demand for credit during	Other changes during	Credit market outstandings at end
		Jun Qtr 2008	Sep Qtr 2008	Sep Qtr 2008	Sep Qtr 2008
Non-financial domestic sectors		$b	$b	$b	$b
Non-financial corporations
	Private	2 027.9	45.8	-156.6	1 917.1
	National public	1.2	-0.1	0.0	1.1
	State and local public	62.2	9.6	0.0	71.8
General government
	National	60.0	-2.9	3.0	60.1
	State and local	40.2	2.3	0.0	42.6
Households		1 266.3	11.3	3.4	1 281.0
Total		3 457.7	66.2	-150.2	3 373.7

Total demand for credit

Credit market outstandings

SEPTEMBER KEY POINTS


SUMMARY

• Total credit markets outstandings of the non-financial domestic sectors at 30 September 2008 was $3,373.7b, a decrease of $84.0b from the previous quarter. Demand for credit during the quarter was $66.2b and valuation decreases were $150.2b.
• Demand for credit was up $6.8b from the previous quarter, driven by increased demand by private and state and local public non-financial corporations, and offset by a decrease in demand by households and the general government sector.

NON-FINANCIAL CORPORATIONS

• Non-financial corporations raised a net $55.3b, through loans and equity issuance, net $36.7b and net $18.6b respectively.

GENERAL GOVERNMENT

• National general government redeemed a net $2.9b of bonds during the quarter. State and local general government raised a net $2.3b through loans.

HOUSEHOLDS

• Households raised a net $11.3b during the September quarter 2008, down from the June quarter 2008 estimate of $30.1b. Households borrowed $20.0b from banks (of which $15.6b was for owner-occupied housing and $5.8b for investment housing) and repaid $8.6b to financial intermediaries n.e.c., down $1.7b from the June quarter 2008.

NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER)	Release Date
December 2008	27 March 2009
March 2009	26 June 2009

CHANGES TO THIS ISSUE

There are no significant changes in 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.

There were no significant privatisations impacting the aggregates this quarter.


REVISIONS IN THIS ISSUE

There have been revisions back to September 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.


UPCOMING CHANGES

Because of transitional arrangements for the introduction of a new form to collect data from general insurers by APRA, data were not available for inclusion in this issue. Estimates have been made. The incorporation of the new data into the December quarter 2008 issue will include revisions to data for other insurance corporations for September quarter 2008.


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.

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