Australian National Accounts: Finance and Wealth

Latest release

National, public and private corporations, government and household financial and capital accounts, and household balance sheets.

Reference period

December 2024

Released

27/03/2025

Key statistics

Household wealth increased $143.6b (0.9%) to $16,951.8b.
Demand for credit was $92.1b.
Australia's net borrowing position decreased by $2.3b to $14.4b this quarter.
Capital investment as a proportion of GDP decreased to 24.7%.

Main features

Financing resources and investment tables

Financing resources December quarter 2024, original, current prices, $b
	Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Net saving (a)	32.6	9.8	-11.3	6.9	38.0	9.2
plus Consumption of fixed capital	61.5	4.1	15.7	45.9	127.2	-
Gross saving	94.1	13.8	4.4	52.9	165.2	9.2
plus Net capital transfers	0.2	0.0	-2.2	1.6	-0.4	0.4
less Statistical discrepancy (b)	-	-	-	-	-5.4	-
Total financing resources	94.3	13.8	2.2	54.5	170.3	9.6

Uses of financing (investment) December quarter 2024, original, current prices, $b
	Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Capital formation
	Gross fixed capital formation	86.4	4.2	28.4	56.7	175.7	-
	plus Changes in inventories	1.3	0.0	0.3	2.4	4.1	-
	plus Net acquisition of non-produced non-financial assets	-0.8	-	0.6	-	-	-
	Total capital formation	87.0	4.2	29.3	59.1	179.7	-
plus Financial investment
	Acquisition of financial assets	14.1	-67.0	-39.9	82.5	-123.5	-109.2
	less Incurrence of financial liabilities	47.4	-79.6	-1.9	38.2	-109.2	-123.5
	Net Financial investment (Net lending (+) / net borrowing (-))	-33.2	12.7	-38.0	44.3	-14.4	14.4
less Net errors and omissions	-40.6	3.0	-10.9	48.9	-5.0	5.0
Total investment	94.3	13.8	2.2	54.5	170.3	9.4

Financial market summary table

Financial market summary, $b
	Amounts outstanding, Sep-24	Transactions, Dec-24	Other changes, Dec-24	Amounts outstanding, Dec-24
Currency and deposits
	Currency	105.3	2.9	-	108.2
	Transferable deposits	2,240.8	67.3	19.5	2,327.5
	Other deposits	1,695.6	33.4	19.9	1,748.9
Short term debt securities
	Bills of exchange	5.0	-0.1	-	4.9
	One name paper	592.6	0.4	17.9	610.8
Long term debt securities
	Bonds, etc.	3,547.0	27.4	3.3	3,577.7
Derivatives
	Derivatives	731.8	-517.2	705.2	919.7
Loans and placements
	Short term	400.9	55.9	6.5	463.3
	Long term	5,106.5	94.3	18.7	5,219.6
Shares and other equity
	Listed	2,936.1	5.2	-23.8	2,917.5
	Unlisted	6,695.4	80.5	199.8	6,975.7
Insurance technical reserves
	Reserves of pension funds and life	3,794.8	24.0	27.1	3,845.8
	General insurance payments	176.7	-1.4	0.0	175.3

Flow of funds diagrams

National investment

National investment increased by $14.9b to $179.7b in the December quarter.

General government investment increased by $3.7b to $29.3b, driven by rises in gross fixed capital formation for both state and local general government and national general government.
Non-financial corporations' investment increased by $6.4b to $87.0b, driven by rises in gross fixed capital formation for both private and public non-financial corporations.
Households' investment increased by $4.5b to $59.1b, driven by an increase in change in inventories.

Financial investment

Australia was a net borrower of $14.4b from rest of world (ROW). The main contributors were a:

$54.3b placement of deposits by ROW
$44.3b acquisition by ROW of debt securities issued by Australia
Partly offset by $46.3b in loans borrowed by ROW

Placements of deposits and loans borrowed by ROW largely reflected intra-group funding arrangements between Australian subsidiaries and offshore related parties. ROW acquired bonds and one name paper issued by banks, as banks continued to return towards traditional sources of funding following the end of the Term Funding Facility (TFF) in June 2024. ROW also continued to acquire bonds issued by government.

Households

Households $44.3b net lending position was due to an $82.5b acquisition of assets, partly offset by a $38.2b incurrence of liabilities. The acquisition of assets was driven by:

$52.7b in deposits
$29.0b in net equity in superannuation

While liabilities were driven by:

$37.3b in loan borrowing

The rise in deposits was supported by income growth and government cost-of-living policy relief including stage 3 tax cuts and energy bill rebates. Contributions into pension funds rose year on year, reflecting legislative changes to compulsory superannuation contributions and strength in employment.

General government

General government’s $38.0b net borrowing position was due to a $39.9b disposal of financial assets partly offset by a $1.9b reduction in liabilities. The disposal of assets was driven by a:

$38.2b draw down of deposits
$5.7b disposal of debt securities

The reduction in liabilities was driven by a:

$23.3b net maturity of bonds
Partly offset by $17.8b in loan borrowing

The net maturity of government bonds in the December quarter was the largest on record as the Commonwealth Government began repaying debt issued during the early stages of the COVID-19 pandemic. Maturing debt placed additional pressure on the government's deposit balances. State and territory governments continued to borrow funds from their respective central borrowing authorities to finance investment in health and transport infrastructure.

Net financial investment (net lending (+) / borrowing (-))
	National net financial investment ($b)	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-11	-15.0	-0.1	-2.7	-14.9	2.6
Mar-12	-18.4	-37.0	23.4	-13.2	8.5
Jun-12	-11.4	1.8	-24.4	-30.1	41.3
Sep-12	-19.2	-3.1	-11.5	-24.3	19.7
Dec-12	-20.3	-13.5	-0.6	-12.4	6.2
Mar-13	-10.2	-29.5	18.2	-15.5	16.6
Jun-13	-11.7	-42.4	21.2	-14.0	23.5
Sep-13	-19.2	-12.9	-20.1	-20.2	34.0
Dec-13	-12.6	-45.0	27.2	-10.9	16.0
Mar-14	-9.5	-18.0	10.2	-11.0	9.2
Jun-14	-13.7	-21.3	14.4	-10.2	3.4
Sep-14	-13.5	-13.1	-18.4	-18.4	36.4
Dec-14	-16.5	-3.2	-30.7	-10.0	27.4
Mar-15	-14.9	-21.8	1.7	-3.6	8.8
Jun-15	-22.3	-29.4	3.4	-8.4	12.0
Sep-15	-27.2	-54.6	-7.5	-15.0	49.9
Dec-15	-25.8	-35.9	1.8	-7.2	15.4
Mar-16	-18.4	-25.0	11.2	-8.8	4.2
Jun-16	-15.1	9.0	-33.3	-6.0	15.2
Sep-16	-15.1	-8.3	-2.5	-22.1	17.8
Dec-16	-8.0	1.5	-8.2	-24.1	22.8
Mar-17	-3.8	-14.6	8.0	2.2	0.5
Jun-17	-13.5	24.1	-32.9	-12.8	8.1
Sep-17	-15.9	-10.2	-10.7	-18.7	23.7
Dec-17	-19.4	-7.8	-22.9	-2.6	13.9
Mar-18	-9.5	-23.4	6.5	-0.9	8.4
Jun-18	-16.0	-10.0	-19.0	-0.2	13.2
Sep-18	-9.0	-26.6	-3.1	-18.5	39.3
Dec-18	-7.9	-6.9	3.0	-9.2	5.2
Mar-19	-5.5	-14.8	-6.7	-0.3	16.3
Jun-19	6.0	11.4	-33.6	-9.2	37.5
Sep-19	6.1	-7.8	-14.3	-22.9	51.2
Dec-19	-1.0	-13.5	6.2	-14.2	20.5
Mar-20	7.6	-12.8	10.5	-14.3	24.2
Jun-20	15.6	44.9	3.8	-89.0	55.9
Sep-20	7.7	16.5	20.8	-110.8	81.3
Dec-20	15.2	7.4	11.2	-44.9	41.5
Mar-21	15.4	-7.9	34.8	-14.6	3.2
Jun-21	23.3	18.8	8.0	-9.8	6.3
Sep-21	14.1	-33.9	33.0	-43.7	58.6
Dec-21	4.0	-15.0	17.2	-26.0	27.9
Mar-22	2.4	-51.3	44.8	-1.8	10.6
Jun-22	15.6	4.6	32.1	-30.1	8.9
Sep-22	-11.5	-62.6	21.8	-26.1	55.5
Dec-22	8.1	2.8	-1.1	-13.8	20.3
Mar-23	3.8	-20.3	-10.5	13.0	21.5
Jun-23	4.3	11.6	-9.2	6.4	-4.5
Sep-23	-12.1	-77.3	25.1	-24.7	64.8
Dec-23	6.5	-16.7	22.4	-28.8	29.7
Mar-24	-4.1	-12.6	-10.0	-1.0	19.5
Jun-24	-17.7	-16.8	22.8	-19.3	-4.5
Sep-24	-16.7	-17.0	-29.3	-38.9	68.5
Dec-24	-14.4	-33.2	12.7	-38.0	44.3

Net financial investment (net lending (+) / borrowing (-))

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Demand for credit

Demand for credit table

Demand for credit non-financial domestic sectors, $b
	Credit market outstandings, Sep-24	Demand for credit, Dec-24	Other changes, Dec-24	Credit market outstandings, Dec-24
Non-financial corporations
	Investment funds	580.1	8.4	-6.0	582.6
	Other private	4,754.0	43.3	-16.2	4,781.1
	Public	186.8	3.5	-0.1	190.3
General government
	National	908.2	-19.6	-17.5	871.1
	State and local	463.5	19.4	-0.1	482.7
Households	3,008.4	37.2	7.1	3,052.8
Total	9,901.1	92.1	-32.8	9,960.5

Demand for credit was $92.1b in the December quarter, of which:

other private non-financial corporations borrowed $43.3b
households borrowed $37.2b
general government repaid $0.3b

Credit market outstandings increased by $59.4b, comprised of demand for credit of $92.1b and was partly offset by revaluation losses of $32.8b. Holding losses on the shares of other private non-financial corporations were $28.8b, in line with a fall in equity prices on the Australian Securities Exchange (ASX). Rising bond yields also resulted in holding losses on Commonwealth government bonds of $17.5b.

Other private non-financial corporations

Business credit growth continues to be driven by elevated levels of capital investment with progress on renewable and mining projects. Rising commodity prices and stronger export revenue in the December quarter was reflected in stronger reinvested earnings growth. Business financing activity comprised:

loan borrowings of $23.8b
equity raising of $19.9b
corporate bond issuance of $0.4b

General government

The December quarter saw the lowest demand for credit by the Commonwealth government since the series began in September 1988. The Commonwealth government repaid COVID-19 era bond liabilities which matured this quarter. State government demand for credit was driven by investment in health and transport infrastructure. General government financing activity comprised:

$20.1b in net maturities of bonds and one name paper issued by national general government
Partly offset by $17.3b in loan borrowings by state and local general government

Households

Housing credit growth increased from the previous quarter which reflected a lift in buyer activity and housing commitments during the Spring season. Household short term loan borrowings also increased in line with seasonally higher consumer spending in December quarters. Households borrowed:

$36.9b in long term loans
$0.5b in short term loans

Demand for credit by sector
	Private non-financial businesses ($b)	Households ($b)	General government ($b)	Other (a) ($b)
Dec-11	-3.7	16.8	21.6	6.1
Mar-12	27.6	11.9	18.8	4.5
Jun-12	16.0	22.8	10.7	-0.4
Sep-12	16.3	4.7	26.8	3.4
Dec-12	14.8	15.9	12.0	6.5
Mar-13	24.8	12.3	8.6	1.3
Jun-13	37.4	28.8	-6.2	5.0
Sep-13	26.1	3.7	28.9	-0.3
Dec-13	38.6	32.5	22.5	9.4
Mar-14	7.9	18.7	20.1	0.0
Jun-14	32.3	36.1	6.9	8.7
Sep-14	33.6	13.6	24.2	-6.1
Dec-14	35.4	26.8	8.9	3.1
Mar-15	43.2	25.1	16.1	7.4
Jun-15	27.0	39.3	5.3	11.8
Sep-15	39.7	12.3	36.4	3.8
Dec-15	33.4	23.2	2.1	7.9
Mar-16	30.4	25.1	22.0	3.4
Jun-16	11.1	34.7	2.5	2.7
Sep-16	20.3	28.5	25.8	6.0
Dec-16	56.5	20.7	19.0	-7.6
Mar-17	6.3	21.6	18.9	4.4
Jun-17	38.0	40.6	19.6	1.2
Sep-17	33.4	18.0	5.4	6.0
Dec-17	30.9	27.7	15.7	5.2
Mar-18	39.0	19.6	6.3	3.7
Jun-18	14.0	27.5	10.1	2.9
Sep-18	67.0	11.1	5.9	9.1
Dec-18	8.8	25.7	6.1	3.0
Mar-19	35.5	15.3	-0.3	5.4
Jun-19	38.8	4.0	12.3	-3.6
Sep-19	18.1	-0.1	25.8	4.5
Dec-19	21.0	19.3	15.7	6.0
Mar-20	49.7	3.9	35.6	5.4
Jun-20	-7.2	14.6	136.2	9.4
Sep-20	2.0	6.3	144.0	6.9
Dec-20	4.5	22.5	30.2	10.4
Mar-21	18.4	28.1	20.2	5.5
Jun-21	11.9	49.6	6.8	18.5
Sep-21	57.4	41.3	50.1	8.3
Dec-21	34.1	53.8	22.0	15.5
Mar-22	166.0	41.7	13.5	11.3
Jun-22	45.1	52.6	48.5	15.5
Sep-22	75.6	26.0	6.4	6.7
Dec-22	13.4	31.9	7.4	-0.2
Mar-23	42.6	18.8	17.7	9.1
Jun-23	-4.4	43.4	-7.5	3.3
Sep-23	50.7	13.4	18.5	9.0
Dec-23	27.4	33.0	32.9	7.7
Mar-24	46.6	32.1	19.7	9.7
Jun-24	41.2	58.8	-2.0	6.2
Sep-24	44.5	21.0	43.6	4.6
Dec-24	43.3	37.2	-0.3	11.9

Demand for credit by sector

["","Private non-financial businesses","Households","General government","Other (a)"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[-3.7000000000000002],[27.600000000000001],[16],[16.300000000000001],[14.800000000000001],[24.800000000000001],[37.399999999999999],[26.100000000000001],[38.600000000000001],[7.9000000000000004],[32.299999999999997],[33.600000000000001],[35.399999999999999],[43.200000000000003],[27],[39.700000000000003],[33.399999999999999],[30.399999999999999],[11.1],[20.300000000000001],[56.5],[6.2999999999999998],[38],[33.399999999999999],[30.899999999999999],[39],[14],[67],[8.8000000000000007],[35.5],[38.799999999999997],[18.100000000000001],[21],[49.700000000000003],[-7.2000000000000002],[2],[4.5],[18.399999999999999],[11.9],[57.399999999999999],[34.100000000000001],[166],[45.100000000000001],[75.599999999999994],[13.4],[42.600000000000001],[-4.4000000000000004],[50.700000000000003],[27.399999999999999],[46.600000000000001],[41.200000000000003],[44.5],[43.299999999999997]],[[16.800000000000001],[11.9],[22.800000000000001],[4.7000000000000002],[15.9],[12.300000000000001],[28.800000000000001],[3.7000000000000002],[32.5],[18.699999999999999],[36.100000000000001],[13.6],[26.800000000000001],[25.100000000000001],[39.299999999999997],[12.300000000000001],[23.199999999999999],[25.100000000000001],[34.700000000000003],[28.5],[20.699999999999999],[21.600000000000001],[40.600000000000001],[18],[27.699999999999999],[19.600000000000001],[27.5],[11.1],[25.699999999999999],[15.300000000000001],[4],[-0.10000000000000001],[19.300000000000001],[3.8999999999999999],[14.6],[6.2999999999999998],[22.5],[28.100000000000001],[49.600000000000001],[41.299999999999997],[53.799999999999997],[41.700000000000003],[52.600000000000001],[26],[31.899999999999999],[18.800000000000001],[43.399999999999999],[13.4],[33],[32.100000000000001],[58.799999999999997],[21],[37.200000000000003]],[[21.600000000000001],[18.800000000000001],[10.699999999999999],[26.800000000000001],[12],[8.5999999999999996],[-6.2000000000000002],[28.899999999999999],[22.5],[20.100000000000001],[6.9000000000000004],[24.199999999999999],[8.9000000000000004],[16.100000000000001],[5.2999999999999998],[36.399999999999999],[2.1000000000000001],[22],[2.5],[25.800000000000001],[19],[18.899999999999999],[19.600000000000001],[5.4000000000000004],[15.699999999999999],[6.2999999999999998],[10.1],[5.9000000000000004],[6.0999999999999996],[-0.29999999999999999],[12.300000000000001],[25.800000000000001],[15.699999999999999],[35.600000000000001],[136.19999999999999],[144],[30.199999999999999],[20.199999999999999],[6.7999999999999998],[50.100000000000001],[22],[13.5],[48.5],[6.4000000000000004],[7.4000000000000004],[17.699999999999999],[-7.5],[18.5],[32.899999999999999],[19.699999999999999],[-2],[43.600000000000001],[-0.29999999999999999]],[[6.0999999999999996],[4.5],[-0.40000000000000002],[3.3999999999999999],[6.5],[1.3],[5],[-0.29999999999999999],[9.4000000000000004],[0],[8.6999999999999993],[-6.0999999999999996],[3.1000000000000001],[7.4000000000000004],[11.800000000000001],[3.7999999999999998],[7.9000000000000004],[3.3999999999999999],[2.7000000000000002],[6],[-7.5999999999999996],[4.4000000000000004],[1.2],[6],[5.2000000000000002],[3.7000000000000002],[2.8999999999999999],[9.0999999999999996],[3],[5.4000000000000004],[-3.6000000000000001],[4.5],[6],[5.4000000000000004],[9.4000000000000004],[6.9000000000000004],[10.4],[5.5],[18.5],[8.3000000000000007],[15.5],[11.300000000000001],[15.5],[6.7000000000000002],[-0.20000000000000001],[9.0999999999999996],[3.2999999999999998],[9],[7.7000000000000002],[9.6999999999999993],[6.2000000000000002],[4.5999999999999996],[11.9]]]

[]

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"Other" includes private non-financial investment funds and public non-financial corporations.

Households

Balance sheet

Household balance sheet, $b
	Amounts outstanding, Sep-24	Transactions, Dec-24	Other changes(a), Dec-24	Holding gains/losses, Dec-24	Amounts outstanding, Dec-24
Non-financial assets
	Land and dwellings	11,277.2	10.1	8.4	18.2	11,313.9
	Other non-financial assets	862.9	3.1	-	10.0	876.0
Financial assets
	Superannuation reserves	4,084.0	29.0	-	26.2	4,139.2
	Shares and other equity	1,535.6	2.4	-	27.9	1,565.9
	Currency and deposits	1,781.8	52.7	-	4.0	1,838.5
	Other financial assets	446.6	-1.6	-	-1.3	443.7
Liabilities
	Loans	3,004.6	37.3	-	7.1	3,049.1
	Other liabilities	175.5	0.9	-	-	176.5
Wealth (Net worth)	16,808.1	57.4	8.4	77.8	16,951.8
Memorandum item
	Consumer durables (b)	560.2	7.5	-	-	564.7

Financial assets

Household selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	53.9	7,584.2	89.6	7,848.1	82.5	7,987.4
Deposits	-7.9	1,670.9	60.8	1,732.4	51.7	1,788.1
Shares and equity	-0.2	1,485.9	-0.8	1,535.6	2.4	1,565.9
Net equity in reserves	42.2	3,660.8	19.0	3,802.8	24.2	3,854.3
	Pension funds	39.8	3,520.2	22.2	3,658.1	26.2	3,713.1
Other assets	19.8	766.6	10.6	777.4	4.1	779.1

Liabilities

Household selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	58.3	3,153.8	21.1	3,180.3	38.2	3,225.7
Short term loans	0.2	60.0	-1.6	58.4	0.5	58.9
Long term loans	58.8	2,918.2	22.7	2,946.2	36.9	2,990.2
Other liabilities	-0.7	175.5	0.0	175.7	0.9	176.6

Household wealth grew 0.9% ($143.6b) to $16,951.8b by the end of the December quarter. The increase in net worth was driven by growth in deposit balances and superannuation assets.

Non-financial assets

Non-financial assets owned by households increased by 0.4% ($49.7b). The value of residential land and dwellings had a small rise, up $24.6b or 0.2 per cent during the quarter. This added 0.1 percentage points to the growth in household wealth. A rise in the number of dwellings was partly offset by a 0.2 percent fall in house prices.

Financial assets

Financial assets of households increased by 1.8% ($139.3b), with a:

$56.7b rise in currency and deposits
$55.2b rise in superannuation reserves
$30.3b rise in shares and other equity

Total deposits increased by 3.2%. Transferable deposit account balances rose $40.2b. Other deposit accounts (which include term deposit and savings accounts) rose $15.6b.

Liabilities

Household liabilities increased by 1.4% ($45.4b), with a:

$36.2b rise in housing loans
$8.8b rise in loans from the rest of the world

The growth in housing loans was driven by demand from both owner occupiers and investors, while the increase in non-resident loans was driven by the depreciation of the Australian dollar.

Household wealth, contribution to growth, quarterly
	Wealth (Net worth) ($b)	Land and dwellings ($b)	Superannuation ($b)	Currency and deposits ($b)	Shares and equity ($b)	Other financial assets ($b)	Liabilities ($b)
Dec-11	6.9	-16.6	15.5	15.4	4.7	0.2	-14.6
Mar-12	101.4	26.5	65.1	10.2	18.4	-3.1	-16.5
Jun-12	146.1	28.3	123.0	9.1	-4.3	13.6	-23.9
Sep-12	60.7	-15.0	51.0	22.5	15.8	-4.0	-10.5
Dec-12	179.1	105.9	58.3	12.6	14.6	-2.5	-14.5
Mar-13	145.1	54.4	68.0	9.7	22.9	1.0	-14.6
Jun-13	-1.6	78.6	-52.5	6.4	-3.0	1.3	-36.2
Sep-13	212.2	83.3	88.4	26.3	21.0	-0.5	-11.4
Dec-13	235.0	173.2	53.3	20.4	8.7	7.9	-37.8
Mar-14	138.4	76.5	46.1	9.7	19.4	-1.4	-19.7
Jun-14	116.8	94.9	26.2	7.0	15.3	4.1	-38.0
Sep-14	164.0	82.6	51.3	29.5	13.1	-0.7	-19.6
Dec-14	261.6	169.2	59.6	25.5	24.6	1.9	-30.3
Mar-15	263.3	125.0	106.0	13.9	34.9	7.6	-32.0
Jun-15	201.9	224.7	12.3	6.4	0.1	-5.0	-42.4
Sep-15	122.5	129.6	-24.5	37.2	0.9	-2.5	-22.0
Dec-15	150.4	46.6	76.4	19.6	30.4	-2.7	-25.8
Mar-16	-14.0	9.6	-18.7	12.8	3.6	1.9	-26.2
Jun-16	281.9	137.3	149.0	10.6	16.2	8.1	-41.9
Sep-16	230.6	125.7	79.3	25.3	23.7	3.1	-30.1
Dec-16	335.8	258.0	48.6	24.9	22.8	0.4	-26.4
Mar-17	231.5	160.4	63.2	9.8	20.8	1.6	-29.9
Jun-17	154.5	170.0	16.7	1.4	4.2	-0.5	-41.2
Sep-17	27.6	14.2	-3.4	21.7	11.8	6.6	-26.8
Dec-17	286.0	167.9	95.7	13.5	26.4	9.3	-33.1
Mar-18	-14.4	17.1	-16.6	10.0	2.2	0.3	-30.8
Jun-18	87.4	-26.3	107.9	1.5	21.9	11.8	-31.2
Sep-18	33.7	-51.0	47.7	28.2	18.8	5.1	-16.0
Dec-18	-206.2	-60.9	-111.3	9.5	-7.5	-9.0	-31.0
Mar-19	57.0	-119.6	142.6	5.4	33.6	14.4	-20.2
Jun-19	318.0	68.5	220.6	4.3	27.8	13.1	-15.3
Sep-19	335.1	225.8	63.2	25.9	16.9	11.3	-6.2
Dec-19	288.0	218.7	62.1	12.9	13.0	2.3	-23.8
Mar-20	-250.6	106.0	-275.5	18.2	-63.2	-16.6	-21.6
Jun-20	232.1	-23.5	166.6	35.1	32.3	25.5	-6.3
Sep-20	346.2	222.4	38.9	65.2	7.5	7.8	-1.7
Dec-20	633.7	376.7	163.8	27.5	54.0	18.6	-21.0
Mar-21	549.1	457.0	67.0	13.7	28.2	-2.5	-27.6
Jun-21	567.6	428.5	118.3	5.9	35.0	19.2	-53.5
Sep-21	731.9	598.4	64.3	75.0	25.7	7.2	-53.2
Dec-21	725.9	585.8	99.9	47.7	20.8	8.3	-56.9
Mar-22	166.5	196.3	-51.2	33.7	22.2	-8.9	-41.8
Jun-22	-391.3	-36.4	-293.9	6.2	-22.0	-8.0	-49.6
Sep-22	-214.6	-255.1	-5.1	53.0	14.3	-0.2	-29.7
Dec-22	241.8	73.4	122.5	33.8	35.4	6.0	-42.2
Mar-23	199.0	60.8	115.5	26.9	21.1	2.0	-34.9
Jun-23	345.8	312.2	58.6	-6.6	17.1	6.6	-46.9
Sep-23	250.5	167.2	10.6	52.7	35.3	6.6	-27.0
Dec-23	533.4	313.8	146.3	32.5	52.5	14.0	-37.4
Mar-24	386.6	176.7	146.0	32.9	57.5	10.5	-47.5
Jun-24	255.2	261.9	10.0	-8.4	26.4	17.3	-60.8
Sep-24	260.7	14.9	140.9	62.2	49.7	11.1	-26.4
Dec-24	143.6	36.6	55.2	56.7	30.3	-2.9	-45.4

Household wealth, contribution to growth, quarterly

["","Wealth (Net worth)","Land and dwellings","Superannuation","Currency and deposits","Shares and equity","Other financial assets","Liabilities"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[6.9000000000000004],[101.40000000000001],[146.09999999999999],[60.700000000000003],[179.09999999999999],[145.09999999999999],[-1.6000000000000001],[212.19999999999999],[235],[138.40000000000001],[116.8],[164],[261.60000000000002],[263.30000000000001],[201.90000000000001],[122.5],[150.40000000000001],[-14],[281.89999999999998],[230.59999999999999],[335.80000000000001],[231.5],[154.5],[27.600000000000001],[286],[-14.4],[87.400000000000006],[33.700000000000003],[-206.19999999999999],[57],[318],[335.10000000000002],[288],[-250.59999999999999],[232.09999999999999],[346.19999999999999],[633.70000000000005],[549.10000000000002],[567.60000000000002],[731.89999999999998],[725.89999999999998],[166.5],[-391.30000000000001],[-214.59999999999999],[241.80000000000001],[199],[345.80000000000001],[250.5],[533.39999999999998],[386.60000000000002],[255.19999999999999],[260.69999999999999],[143.59999999999999]],[[-16.600000000000001],[26.5],[28.300000000000001],[-15],[105.90000000000001],[54.399999999999999],[78.599999999999994],[83.299999999999997],[173.19999999999999],[76.5],[94.900000000000006],[82.599999999999994],[169.19999999999999],[125],[224.69999999999999],[129.59999999999999],[46.600000000000001],[9.5999999999999996],[137.30000000000001],[125.7],[258],[160.40000000000001],[170],[14.199999999999999],[167.90000000000001],[17.100000000000001],[-26.300000000000001],[-51],[-60.899999999999999],[-119.59999999999999],[68.5],[225.80000000000001],[218.69999999999999],[106],[-23.5],[222.40000000000001],[376.69999999999999],[457],[428.5],[598.39999999999998],[585.79999999999995],[196.30000000000001],[-36.399999999999999],[-255.09999999999999],[73.400000000000006],[60.799999999999997],[312.19999999999999],[167.19999999999999],[313.80000000000001],[176.69999999999999],[261.89999999999998],[14.9],[36.600000000000001]],[[15.5],[65.099999999999994],[123],[51],[58.299999999999997],[68],[-52.5],[88.400000000000006],[53.299999999999997],[46.100000000000001],[26.199999999999999],[51.299999999999997],[59.600000000000001],[106],[12.300000000000001],[-24.5],[76.400000000000006],[-18.699999999999999],[149],[79.299999999999997],[48.600000000000001],[63.200000000000003],[16.699999999999999],[-3.3999999999999999],[95.700000000000003],[-16.600000000000001],[107.90000000000001],[47.700000000000003],[-111.3],[142.59999999999999],[220.59999999999999],[63.200000000000003],[62.100000000000001],[-275.5],[166.59999999999999],[38.899999999999999],[163.80000000000001],[67],[118.3],[64.299999999999997],[99.900000000000006],[-51.200000000000003],[-293.89999999999998],[-5.0999999999999996],[122.5],[115.5],[58.600000000000001],[10.6],[146.30000000000001],[146],[10],[140.90000000000001],[55.200000000000003]],[[15.4],[10.199999999999999],[9.0999999999999996],[22.5],[12.6],[9.6999999999999993],[6.4000000000000004],[26.300000000000001],[20.399999999999999],[9.6999999999999993],[7],[29.5],[25.5],[13.9],[6.4000000000000004],[37.200000000000003],[19.600000000000001],[12.800000000000001],[10.6],[25.300000000000001],[24.899999999999999],[9.8000000000000007],[1.3999999999999999],[21.699999999999999],[13.5],[10],[1.5],[28.199999999999999],[9.5],[5.4000000000000004],[4.2999999999999998],[25.899999999999999],[12.9],[18.199999999999999],[35.100000000000001],[65.200000000000003],[27.5],[13.699999999999999],[5.9000000000000004],[75],[47.700000000000003],[33.700000000000003],[6.2000000000000002],[53],[33.799999999999997],[26.899999999999999],[-6.5999999999999996],[52.700000000000003],[32.5],[32.899999999999999],[-8.4000000000000004],[62.200000000000003],[56.700000000000003]],[[4.7000000000000002],[18.399999999999999],[-4.2999999999999998],[15.800000000000001],[14.6],[22.899999999999999],[-3],[21],[8.6999999999999993],[19.399999999999999],[15.300000000000001],[13.1],[24.600000000000001],[34.899999999999999],[0.10000000000000001],[0.90000000000000002],[30.399999999999999],[3.6000000000000001],[16.199999999999999],[23.699999999999999],[22.800000000000001],[20.800000000000001],[4.2000000000000002],[11.800000000000001],[26.399999999999999],[2.2000000000000002],[21.899999999999999],[18.800000000000001],[-7.5],[33.600000000000001],[27.800000000000001],[16.899999999999999],[13],[-63.200000000000003],[32.299999999999997],[7.5],[54],[28.199999999999999],[35],[25.699999999999999],[20.800000000000001],[22.199999999999999],[-22],[14.300000000000001],[35.399999999999999],[21.100000000000001],[17.100000000000001],[35.299999999999997],[52.5],[57.5],[26.399999999999999],[49.700000000000003],[30.300000000000001]],[[0.20000000000000001],[-3.1000000000000001],[13.6],[-4],[-2.5],[1],[1.3],[-0.5],[7.9000000000000004],[-1.3999999999999999],[4.0999999999999996],[-0.69999999999999996],[1.8999999999999999],[7.5999999999999996],[-5],[-2.5],[-2.7000000000000002],[1.8999999999999999],[8.0999999999999996],[3.1000000000000001],[0.40000000000000002],[1.6000000000000001],[-0.5],[6.5999999999999996],[9.3000000000000007],[0.29999999999999999],[11.800000000000001],[5.0999999999999996],[-9],[14.4],[13.1],[11.300000000000001],[2.2999999999999998],[-16.600000000000001],[25.5],[7.7999999999999998],[18.600000000000001],[-2.5],[19.199999999999999],[7.2000000000000002],[8.3000000000000007],[-8.9000000000000004],[-8],[-0.20000000000000001],[6],[2],[6.5999999999999996],[6.5999999999999996],[14],[10.5],[17.300000000000001],[11.1],[-2.8999999999999999]],[[-14.6],[-16.5],[-23.899999999999999],[-10.5],[-14.5],[-14.6],[-36.200000000000003],[-11.4],[-37.799999999999997],[-19.699999999999999],[-38],[-19.600000000000001],[-30.300000000000001],[-32],[-42.399999999999999],[-22],[-25.800000000000001],[-26.199999999999999],[-41.899999999999999],[-30.100000000000001],[-26.399999999999999],[-29.899999999999999],[-41.200000000000003],[-26.800000000000001],[-33.100000000000001],[-30.800000000000001],[-31.199999999999999],[-16],[-31],[-20.199999999999999],[-15.300000000000001],[-6.2000000000000002],[-23.800000000000001],[-21.600000000000001],[-6.2999999999999998],[-1.7],[-21],[-27.600000000000001],[-53.5],[-53.200000000000003],[-56.899999999999999],[-41.799999999999997],[-49.600000000000001],[-29.699999999999999],[-42.200000000000003],[-34.899999999999999],[-46.899999999999999],[-27],[-37.399999999999999],[-47.5],[-60.799999999999997],[-26.399999999999999],[-45.399999999999999]]]

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Private non-financial corporations

Financial assets

Private non-financial corporations' selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	24.9	2,142.5	33.0	2,139.6	15.1	2,210.5
Deposits	22.0	820.1	-24.5	793.5	3.2	808.9
Shares and equity	-3.7	759.7	27.8	774.1	15.2	818.1
Other accounts receivable	12.9	319.5	27.7	327.8	-6.4	325.3
Other assets	-6.3	243.2	2.0	244.2	3.1	258.3

Liabilities

Private non-financial corporations' selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	39.0	5,510.1	49.7	5,651.2	43.9	5,686.9
Total debt securities	4.5	280.1	-1.6	279.6	3.0	293.7
Loans	11.1	1,121.3	34.2	1,142.2	25.0	1,169.5
	Authorised deposit taking institutions	5.5	749.8	19.5	769.0	20.1	794.2
	Rest of world	2.6	233.9	11.1	232.0	1.1	230.4
Shares and equity	25.8	3,779.7	14.0	3,899.8	23.0	3,887.2
	Households	3.8	922.1	4.2	940.8	3.2	948.9
	Rest of world	11.3	1,444.0	13.8	1,486.0	17.1	1,500.7
Other liabilities	-2.4	329.0	3.1	329.6	-7.1	336.4

Other private non-financial corporations demand for credit

Other private non-financial corporations demand for credit of $43.3b was driven by:

$23.8b of loan borrowings
$19.9b of equity raising

Other private non-financial corporations' demand for credit
	Total ($b)	Short-term debt ($b)	Bonds ($b)	Loans ($b)	Equity ($b)
Dec-11	-3.7	-3.6	9.6	-0.2	-9.5
Mar-12	27.6	0.3	7.9	8.6	10.8
Jun-12	16.0	-2.5	1.8	13.0	3.7
Sep-12	16.3	-3.6	10.6	-2.5	11.8
Dec-12	14.8	-5.0	9.2	2.7	7.8
Mar-13	24.8	-1.8	5.5	9.9	11.1
Jun-13	37.4	-3.2	1.8	17.3	21.5
Sep-13	26.1	1.6	6.7	3.0	14.8
Dec-13	38.6	-7.7	8.4	16.2	21.7
Mar-14	7.9	-3.9	-0.7	0.7	11.8
Jun-14	32.3	-3.4	-5.6	22.5	18.8
Sep-14	33.6	-2.6	9.5	1.7	24.9
Dec-14	35.4	-1.8	-5.8	14.6	28.4
Mar-15	43.2	-3.3	8.9	22.9	14.6
Jun-15	27.0	-2.7	10.5	3.2	16.0
Sep-15	39.7	-1.9	-6.1	31.3	16.5
Dec-15	33.4	-2.0	8.6	12.3	14.5
Mar-16	30.4	-2.4	6.3	14.3	12.1
Jun-16	11.1	-3.1	-5.0	3.3	16.0
Sep-16	20.3	-2.1	-4.9	8.0	19.4
Dec-16	56.5	-2.5	2.9	13.5	42.5
Mar-17	6.3	-0.2	-9.9	1.1	15.4
Jun-17	38.0	-1.4	7.6	3.5	28.3
Sep-17	33.4	-3.8	-1.1	4.5	33.8
Dec-17	30.9	-1.2	-5.0	9.6	27.4
Mar-18	39.0	-0.6	3.4	14.1	22.1
Jun-18	14.0	-2.4	9.1	-11.0	18.3
Sep-18	67.0	-3.4	2.3	24.4	43.6
Dec-18	8.8	-2.8	-0.3	5.0	6.9
Mar-19	35.5	-2.6	-1.6	19.5	20.1
Jun-19	38.8	-4.1	8.4	12.5	21.9
Sep-19	18.1	-1.1	1.2	9.2	8.8
Dec-19	21.0	-2.7	0.3	3.3	20.1
Mar-20	49.7	0.7	-7.7	42.5	14.1
Jun-20	-7.2	-2.5	-7.8	-23.2	26.3
Sep-20	2.0	-0.5	-9.8	-10.8	23.2
Dec-20	4.5	-2.6	-12.5	-11.1	30.7
Mar-21	18.4	0.7	2.3	8.9	6.6
Jun-21	11.9	-0.1	-2.7	8.8	5.9
Sep-21	57.4	-1.7	-2.7	15.3	46.5
Dec-21	34.1	-1.7	0.4	-2.6	38.0
Mar-22	166.0	-0.9	3.9	15.1	148.0
Jun-22	45.1	-0.1	0.4	32.7	12.1
Sep-22	75.6	1.9	-2.6	37.5	38.9
Dec-22	13.4	-0.1	-4.7	6.5	11.7
Mar-23	42.6	0.6	2.6	16.4	23.0
Jun-23	-4.4	-3.3	5.6	2.0	-8.6
Sep-23	50.7	2.4	-3.9	28.1	24.2
Dec-23	27.4	1.1	2.8	12.2	11.3
Mar-24	46.6	-0.5	8.3	13.3	25.5
Jun-24	41.2	0.2	4.7	13.1	23.3
Sep-24	44.5	-0.9	1.1	31.9	12.4
Dec-24	43.3	-0.8	0.4	23.8	19.9

Other private non-financial corporations' demand for credit

["","Total","Short-term debt","Bonds","Loans","Equity"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[-3.7000000000000002],[27.600000000000001],[16],[16.300000000000001],[14.800000000000001],[24.800000000000001],[37.399999999999999],[26.100000000000001],[38.600000000000001],[7.9000000000000004],[32.299999999999997],[33.600000000000001],[35.399999999999999],[43.200000000000003],[27],[39.700000000000003],[33.399999999999999],[30.399999999999999],[11.1],[20.300000000000001],[56.5],[6.2999999999999998],[38],[33.399999999999999],[30.899999999999999],[39],[14],[67],[8.8000000000000007],[35.5],[38.799999999999997],[18.100000000000001],[21],[49.700000000000003],[-7.2000000000000002],[2],[4.5],[18.399999999999999],[11.9],[57.399999999999999],[34.100000000000001],[166],[45.100000000000001],[75.599999999999994],[13.4],[42.600000000000001],[-4.4000000000000004],[50.700000000000003],[27.399999999999999],[46.600000000000001],[41.200000000000003],[44.5],[43.299999999999997]],[[-3.6000000000000001],[0.29999999999999999],[-2.5],[-3.6000000000000001],[-5],[-1.8],[-3.2000000000000002],[1.6000000000000001],[-7.7000000000000002],[-3.8999999999999999],[-3.3999999999999999],[-2.6000000000000001],[-1.8],[-3.2999999999999998],[-2.7000000000000002],[-1.8999999999999999],[-2],[-2.3999999999999999],[-3.1000000000000001],[-2.1000000000000001],[-2.5],[-0.20000000000000001],[-1.3999999999999999],[-3.7999999999999998],[-1.2],[-0.59999999999999998],[-2.3999999999999999],[-3.3999999999999999],[-2.7999999999999998],[-2.6000000000000001],[-4.0999999999999996],[-1.1000000000000001],[-2.7000000000000002],[0.69999999999999996],[-2.5],[-0.5],[-2.6000000000000001],[0.69999999999999996],[-0.10000000000000001],[-1.7],[-1.7],[-0.90000000000000002],[-0.10000000000000001],[1.8999999999999999],[-0.10000000000000001],[0.59999999999999998],[-3.2999999999999998],[2.3999999999999999],[1.1000000000000001],[-0.5],[0.20000000000000001],[-0.90000000000000002],[-0.80000000000000004]],[[9.5999999999999996],[7.9000000000000004],[1.8],[10.6],[9.1999999999999993],[5.5],[1.8],[6.7000000000000002],[8.4000000000000004],[-0.69999999999999996],[-5.5999999999999996],[9.5],[-5.7999999999999998],[8.9000000000000004],[10.5],[-6.0999999999999996],[8.5999999999999996],[6.2999999999999998],[-5],[-4.9000000000000004],[2.8999999999999999],[-9.9000000000000004],[7.5999999999999996],[-1.1000000000000001],[-5],[3.3999999999999999],[9.0999999999999996],[2.2999999999999998],[-0.29999999999999999],[-1.6000000000000001],[8.4000000000000004],[1.2],[0.29999999999999999],[-7.7000000000000002],[-7.7999999999999998],[-9.8000000000000007],[-12.5],[2.2999999999999998],[-2.7000000000000002],[-2.7000000000000002],[0.40000000000000002],[3.8999999999999999],[0.40000000000000002],[-2.6000000000000001],[-4.7000000000000002],[2.6000000000000001],[5.5999999999999996],[-3.8999999999999999],[2.7999999999999998],[8.3000000000000007],[4.7000000000000002],[1.1000000000000001],[0.40000000000000002]],[[-0.20000000000000001],[8.5999999999999996],[13],[-2.5],[2.7000000000000002],[9.9000000000000004],[17.300000000000001],[3],[16.199999999999999],[0.69999999999999996],[22.5],[1.7],[14.6],[22.899999999999999],[3.2000000000000002],[31.300000000000001],[12.300000000000001],[14.300000000000001],[3.2999999999999998],[8],[13.5],[1.1000000000000001],[3.5],[4.5],[9.5999999999999996],[14.1],[-11],[24.399999999999999],[5],[19.5],[12.5],[9.1999999999999993],[3.2999999999999998],[42.5],[-23.199999999999999],[-10.800000000000001],[-11.1],[8.9000000000000004],[8.8000000000000007],[15.300000000000001],[-2.6000000000000001],[15.1],[32.700000000000003],[37.5],[6.5],[16.399999999999999],[2],[28.100000000000001],[12.199999999999999],[13.300000000000001],[13.1],[31.899999999999999],[23.800000000000001]],[[-9.5],[10.800000000000001],[3.7000000000000002],[11.800000000000001],[7.7999999999999998],[11.1],[21.5],[14.800000000000001],[21.699999999999999],[11.800000000000001],[18.800000000000001],[24.899999999999999],[28.399999999999999],[14.6],[16],[16.5],[14.5],[12.1],[16],[19.399999999999999],[42.5],[15.4],[28.300000000000001],[33.799999999999997],[27.399999999999999],[22.100000000000001],[18.300000000000001],[43.600000000000001],[6.9000000000000004],[20.100000000000001],[21.899999999999999],[8.8000000000000007],[20.100000000000001],[14.1],[26.300000000000001],[23.199999999999999],[30.699999999999999],[6.5999999999999996],[5.9000000000000004],[46.5],[38],[148],[12.1],[38.899999999999999],[11.699999999999999],[23],[-8.5999999999999996],[24.199999999999999],[11.300000000000001],[25.5],[23.300000000000001],[12.4],[19.899999999999999]]]

[]

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The debt-to-equity ratio (adjusted for price changes) remains unchanged at 0.60. This reflects private non-financial corporations sourcing funds through both debt and equity.

The growth in firm's loan borrowing was driven by loans from ADIs and used to fund their investment.

Firms' equity increased, driven by strong reinvested earnings due to an increase in commodity prices.

Private non-financial corporations' debt to equity ratio
	Debt to equity ratio, adjusted for price changes, December 2024 base	Debt to equity ratio
Dec-04	0.48	0.48
Mar-05	0.49	0.48
Jun-05	0.54	0.52
Sep-05	0.55	0.50
Dec-05	0.57	0.51
Mar-06	0.58	0.50
Jun-06	0.60	0.52
Sep-06	0.61	0.52
Dec-06	0.63	0.51
Mar-07	0.65	0.50
Jun-07	0.66	0.49
Sep-07	0.69	0.51
Dec-07	0.72	0.54
Mar-08	0.73	0.60
Jun-08	0.75	0.60
Sep-08	0.77	0.69
Dec-08	0.77	0.81
Mar-09	0.74	0.79
Jun-09	0.69	0.70
Sep-09	0.68	0.63
Dec-09	0.67	0.60
Mar-10	0.66	0.60
Jun-10	0.65	0.64
Sep-10	0.65	0.60
Dec-10	0.62	0.55
Mar-11	0.63	0.55
Jun-11	0.62	0.56
Sep-11	0.63	0.63
Dec-11	0.64	0.64
Mar-12	0.65	0.61
Jun-12	0.66	0.66
Sep-12	0.65	0.64
Dec-12	0.65	0.62
Mar-13	0.66	0.61
Jun-13	0.66	0.65
Sep-13	0.66	0.62
Dec-13	0.66	0.63
Mar-14	0.65	0.62
Jun-14	0.65	0.61
Sep-14	0.66	0.63
Dec-14	0.65	0.63
Mar-15	0.66	0.62
Jun-15	0.65	0.63
Sep-15	0.66	0.67
Dec-15	0.66	0.65
Mar-16	0.67	0.65
Jun-16	0.66	0.63
Sep-16	0.66	0.60
Dec-16	0.65	0.59
Mar-17	0.65	0.58
Jun-17	0.65	0.58
Sep-17	0.64	0.57
Dec-17	0.63	0.54
Mar-18	0.64	0.55
Jun-18	0.63	0.53
Sep-18	0.63	0.53
Dec-18	0.63	0.55
Mar-19	0.63	0.52
Jun-19	0.62	0.51
Sep-19	0.62	0.52
Dec-19	0.61	0.50
Mar-20	0.63	0.61
Jun-20	0.60	0.53
Sep-20	0.59	0.52
Dec-20	0.58	0.48
Mar-21	0.59	0.48
Jun-21	0.59	0.47
Sep-21	0.59	0.47
Dec-21	0.58	0.45
Mar-22	0.55	0.43
Jun-22	0.56	0.47
Sep-22	0.57	0.48
Dec-22	0.56	0.46
Mar-23	0.57	0.45
Jun-23	0.57	0.45
Sep-23	0.58	0.46
Dec-23	0.58	0.45
Mar-24	0.59	0.45
Jun-24	0.59	0.46
Sep-24	0.60	0.45
Dec-24	0.60	0.46

Private non-financial corporations' debt to equity ratio

["","Debt to equity ratio, adjusted for price changes, December 2024 base","Debt\u00a0to\u00a0equity\u00a0ratio"]

[["Dec-04","Mar-05","Jun-05","Sep-05","Dec-05","Mar-06","Jun-06","Sep-06","Dec-06","Mar-07","Jun-07","Sep-07","Dec-07","Mar-08","Jun-08","Sep-08","Dec-08","Mar-09","Jun-09","Sep-09","Dec-09","Mar-10","Jun-10","Sep-10","Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[0.47999999999999998],[0.48999999999999999],[0.54000000000000004],[0.55000000000000004],[0.56999999999999995],[0.57999999999999996],[0.59999999999999998],[0.60999999999999999],[0.63],[0.65000000000000002],[0.66000000000000003],[0.68999999999999995],[0.71999999999999997],[0.72999999999999998],[0.75],[0.77000000000000002],[0.77000000000000002],[0.73999999999999999],[0.68999999999999995],[0.68000000000000005],[0.67000000000000004],[0.66000000000000003],[0.65000000000000002],[0.65000000000000002],[0.62],[0.63],[0.62],[0.63],[0.64000000000000001],[0.65000000000000002],[0.66000000000000003],[0.65000000000000002],[0.65000000000000002],[0.66000000000000003],[0.66000000000000003],[0.66000000000000003],[0.66000000000000003],[0.65000000000000002],[0.65000000000000002],[0.66000000000000003],[0.65000000000000002],[0.66000000000000003],[0.65000000000000002],[0.66000000000000003],[0.66000000000000003],[0.67000000000000004],[0.66000000000000003],[0.66000000000000003],[0.65000000000000002],[0.65000000000000002],[0.65000000000000002],[0.64000000000000001],[0.63],[0.64000000000000001],[0.63],[0.63],[0.63],[0.63],[0.62],[0.62],[0.60999999999999999],[0.63],[0.59999999999999998],[0.58999999999999997],[0.57999999999999996],[0.58999999999999997],[0.58999999999999997],[0.58999999999999997],[0.57999999999999996],[0.55000000000000004],[0.56000000000000005],[0.56999999999999995],[0.56000000000000005],[0.56999999999999995],[0.56999999999999995],[0.57999999999999996],[0.57999999999999996],[0.58999999999999997],[0.58999999999999997],[0.59999999999999998],[0.59999999999999998]],[[0.47999999999999998],[0.47999999999999998],[0.52000000000000002],[0.5],[0.51000000000000001],[0.5],[0.52000000000000002],[0.52000000000000002],[0.51000000000000001],[0.5],[0.48999999999999999],[0.51000000000000001],[0.54000000000000004],[0.59999999999999998],[0.59999999999999998],[0.68999999999999995],[0.81000000000000005],[0.79000000000000004],[0.69999999999999996],[0.63],[0.59999999999999998],[0.59999999999999998],[0.64000000000000001],[0.59999999999999998],[0.55000000000000004],[0.55000000000000004],[0.56000000000000005],[0.63],[0.64000000000000001],[0.60999999999999999],[0.66000000000000003],[0.64000000000000001],[0.62],[0.60999999999999999],[0.65000000000000002],[0.62],[0.63],[0.62],[0.60999999999999999],[0.63],[0.63],[0.62],[0.63],[0.67000000000000004],[0.65000000000000002],[0.65000000000000002],[0.63],[0.59999999999999998],[0.58999999999999997],[0.57999999999999996],[0.57999999999999996],[0.56999999999999995],[0.54000000000000004],[0.55000000000000004],[0.53000000000000003],[0.53000000000000003],[0.55000000000000004],[0.52000000000000002],[0.51000000000000001],[0.52000000000000002],[0.5],[0.60999999999999999],[0.53000000000000003],[0.52000000000000002],[0.47999999999999998],[0.47999999999999998],[0.46999999999999997],[0.46999999999999997],[0.45000000000000001],[0.42999999999999999],[0.46999999999999997],[0.47999999999999998],[0.46000000000000002],[0.45000000000000001],[0.45000000000000001],[0.46000000000000002],[0.45000000000000001],[0.45000000000000001],[0.46000000000000002],[0.45000000000000001],[0.46000000000000002]]]

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Financial corporations

Financial assets and liabilities

Financial corporations' financial assets, $b
	Amounts outstanding, Sep-24	Transactions, Dec-24	Other changes, Dec-24	Amounts outstanding, Dec-24
Central bank	427.1	-13.5	3.7	417.3
Authorised deposit taking institutions	5,361.8	-85.7	354.9	5,631.0
Other broad money institutions	257.6	16.9	0.8	275.3
Pension funds	3,465.8	9.7	70.1	3,545.7
Life insurance corporations	175.0	-2.5	-2.1	170.4
Non-life insurance corporations	302.1	0.6	2.8	305.5
Money market investment funds	32.1	-1.6	0.1	30.7
Non-money market investment funds	1,292.3	-2.6	11.4	1,301.1
Central borrowing authorities	728.3	12.5	0.2	741.0
Securitisers	673.6	4.3	0.4	678.3
Other financial corporations	110.1	-26.3	26.0	109.8

Financial corporations' liabilities, $b
	Amounts outstanding, Sep-24	Transactions, Dec-24	Other changes, Dec-24	Amounts outstanding, Dec-24
Central bank	431.9	-15.5	2.9	419.3
Authorised deposit taking institutions	5,622.0	-109.7	398.7	5,911.0
Other broad money institutions	179.2	5.9	-0.4	184.7
Pension funds	3,725.8	13.1	70.1	3,809.0
Life insurance corporations	169.0	-2.6	-2.0	164.4
Non-life insurance corporations	346.9	-3.0	13.2	357.1
Money market investment funds	32.1	0.6	-2.1	30.7
Non-money market investment funds	1,486.1	14.7	32.9	1,533.7
Central borrowing authorities	694.5	12.5	-0.4	706.5
Securitisers	727.8	6.9	-2.7	732.0
Other financial corporations	228.1	-23.7	36.7	241.1

Authorised deposit-taking institutions (ADIs)

Financial assets

Authorised deposit-taking institutions' selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	-113.2	5,283.9	-166.7	5,361.8	-85.7	5,631.0
Deposits	-103.1	326.3	11.7	337.7	17.2	355.4
Bonds	151.8	1,091.8	-42.5	1,069.8	17.1	1,082.3
	Securitisers	108.3	594.1	-68.7	532.5	9.6	542.5
	National general government	22.1	102.2	20.0	125.2	-17.1	106.8
Loans	79.8	3,249.2	83.0	3,330.2	109.0	3,452.5
Other assets	-241.8	616.6	-218.9	624.1	-229.0	740.8

Liabilities

Authorised deposit-taking institutions' selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	-147.1	5,503.9	-146.9	5,622.0	-109.7	5,911.0
Deposits	29.8	3,289.3	65.0	3,347.8	108.2	3,484.9
	Other private non-fin corps	20.1	768.4	-22.7	744.2	6.5	761.2
	Pension funds	1.8	292.6	9.4	301.8	-0.4	302.7
	Households	-8.9	1,635.0	59.7	1,694.5	50.7	1,746.7
Bonds	24.7	601.9	25.4	629.0	19.9	667.8
Shares and equities	-1.1	702.4	-7.9	745.9	-1.4	767.7
Other liabilities	-200.5	910.3	-229.3	899.4	-236.4	990.7

Total financial assets of ADIs increased $269.2b, reflecting:

a $122.3b increase in loans
a $109.4b increase in derivatives
a $17.6b increase in deposits

Strong upward revaluations to derivatives was the result of a sharp depreciation of the Australian dollar. ADIs also saw an uptick in offshore lending and increased their exchange settlement account balances with the Reserve Bank of Australia (RBA) this quarter.

Change in authorised deposit taking institutions' assets
	Total assets ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Dec-11	-18.1	-21.4	-4.9	-5.7	-17.2	22.6	9.1	-2.9
Mar-12	10.5	-6.0	3.8	24.8	-9.4	-3.4	-0.2	2.7
Jun-12	64.6	-6.3	0.2	8.3	27.5	35.9	0.5	-0.9
Sep-12	35.8	2.5	-1.1	43.3	3.4	-25.1	10.5	2.3
Dec-12	15.2	-6.4	-1.0	8.8	-19.0	26.3	6.4	-2.7
Mar-13	28.8	1.4	-7.9	9.6	-12.4	26.5	11.9	1.3
Jun-13	78.4	-4.2	-9.6	32.0	36.3	24.1	-1.1	2.1
Sep-13	18.2	-0.6	-0.7	21.2	-35.0	25.5	10.2	-2.8
Dec-13	89.2	17.4	-7.5	-4.3	31.5	36.3	8.2	5.1
Mar-14	20.3	-0.2	-8.5	25.5	-22.2	26.4	0.6	0.8
Jun-14	63.7	2.1	1.9	15.6	-3.5	45.7	0.2	1.8
Sep-14	94.4	3.3	-0.3	40.3	44.5	12.3	-5.5	0.1
Dec-14	114.1	-5.4	2.6	48.0	47.6	14.0	6.7	-1.6
Mar-15	145.1	-1.2	-3.5	32.3	34.4	59.8	19.6	4.1
Jun-15	-3.0	-4.0	-5.9	-3.6	-52.3	71.7	-8.3	1.1
Sep-15	138.6	5.2	0.6	23.8	72.0	46.9	-11.9	1.6
Dec-15	-14.7	4.6	-6.1	13.2	-64.2	26.0	11.8	-1.6
Mar-16	46.7	1.3	-1.4	5.6	40.8	13.5	-14.9	2.7
Jun-16	79.7	-0.3	-8.6	26.8	25.8	36.3	-1.6	2.4
Sep-16	5.7	-2.0	-4.7	12.2	-36.8	31.2	5.8	-0.7
Dec-16	64.6	1.4	-1.9	-5.3	0.4	65.0	6.8	-3.7
Mar-17	-26.0	4.0	-5.2	11.4	-49.7	6.7	4.7	3.4
Jun-17	52.9	0.8	-5.8	-39.2	11.5	91.4	-9.7	4.5
Sep-17	-21.5	-2.8	-2.0	-18.7	-18.3	19.8	2.6	-2.3
Dec-17	21.4	-1.9	-4.5	12.1	12.0	2.9	5.4	-5.8
Mar-18	80.5	15.6	-0.3	2.6	18.8	50.6	-10.2	4.3
Jun-18	33.7	-0.9	-3.7	-8.5	15.1	29.3	4.7	-1.0
Sep-18	3.3	3.5	-6.4	3.3	-17.4	19.4	0.2	0.1
Dec-18	53.5	0.1	0.9	2.9	28.7	28.4	-10.5	1.1
Mar-19	34.8	1.6	-2.3	16.2	7.6	-0.9	8.2	4.7
Jun-19	67.6	1.7	-2.8	22.6	56.3	-12.3	2.4	-0.3
Sep-19	113.0	5.0	-1.8	17.8	55.5	28.6	9.2	-0.8
Dec-19	-38.3	3.7	4.3	-19.0	-52.7	21.2	5.0	-1.9
Mar-20	478.2	79.7	7.0	215.9	251.9	-54.7	-42.1	19.3
Jun-20	-190.9	-28.7	5.9	132.7	-115.6	-158.0	-21.8	-3.1
Sep-20	-63.7	-21.7	-11.4	-36.5	-40.3	29.3	-3.4	20.2
Dec-20	27.8	48.8	-7.2	-80.1	23.4	31.5	16.9	-6.6
Mar-21	7.4	97.0	-3.2	-88.6	-83.6	41.9	37.4	7.3
Jun-21	38.4	132.9	-0.2	-130.4	-25.4	31.3	12.6	18.6
Sep-21	132.4	48.2	-1.6	24.3	-9.9	64.6	6.1	0.9
Dec-21	108.1	33.6	7.1	0.6	-2.8	82.1	3.4	-16.9
Mar-22	172.1	26.6	5.6	64.7	81.1	-14.5	3.1	5.9
Jun-22	318.6	-12.0	12.2	38.9	172.2	115.2	-8.6	0.5
Sep-22	240.7	24.3	3.5	-0.2	151.5	82.0	-15.0	-4.8
Dec-22	-51.8	-0.3	3.2	4.0	-105.1	38.0	10.0	-2.3
Mar-23	-78.2	-12.5	-2.2	-9.2	-107.8	53.7	-5.0	4.5
Jun-23	96.9	-28.5	-9.5	23.1	76.3	33.7	5.7	-3.8
Sep-23	115.5	-53.0	7.8	95.5	47.8	32.6	-4.6	-9.4
Dec-23	-53.2	-6.2	14.1	-10.0	-123.0	60.7	15.5	-5.6
Mar-24	-75.2	-20.0	-4.8	36.2	-133.5	29.1	22.3	-5.3
Jun-24	33.1	-103.3	-14.5	145.8	-60.2	79.2	3.3	-16.9
Sep-24	77.9	11.5	3.3	-22.1	-6.9	81.0	14.8	-2.7
Dec-24	269.2	17.6	1.7	12.6	109.4	122.3	5.1	-0.4

Change in authorised deposit taking institutions' assets

["","Total assets","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[-18.100000000000001],[10.5],[64.599999999999994],[35.799999999999997],[15.199999999999999],[28.800000000000001],[78.400000000000006],[18.199999999999999],[89.200000000000003],[20.300000000000001],[63.700000000000003],[94.400000000000006],[114.09999999999999],[145.09999999999999],[-3],[138.59999999999999],[-14.699999999999999],[46.700000000000003],[79.700000000000003],[5.7000000000000002],[64.599999999999994],[-26],[52.899999999999999],[-21.5],[21.399999999999999],[80.5],[33.700000000000003],[3.2999999999999998],[53.5],[34.799999999999997],[67.599999999999994],[113],[-38.299999999999997],[478.19999999999999],[-190.90000000000001],[-63.700000000000003],[27.800000000000001],[7.4000000000000004],[38.399999999999999],[132.40000000000001],[108.09999999999999],[172.09999999999999],[318.60000000000002],[240.69999999999999],[-51.799999999999997],[-78.200000000000003],[96.900000000000006],[115.5],[-53.200000000000003],[-75.200000000000003],[33.100000000000001],[77.900000000000006],[269.19999999999999]],[[-21.399999999999999],[-6],[-6.2999999999999998],[2.5],[-6.4000000000000004],[1.3999999999999999],[-4.2000000000000002],[-0.59999999999999998],[17.399999999999999],[-0.20000000000000001],[2.1000000000000001],[3.2999999999999998],[-5.4000000000000004],[-1.2],[-4],[5.2000000000000002],[4.5999999999999996],[1.3],[-0.29999999999999999],[-2],[1.3999999999999999],[4],[0.80000000000000004],[-2.7999999999999998],[-1.8999999999999999],[15.6],[-0.90000000000000002],[3.5],[0.10000000000000001],[1.6000000000000001],[1.7],[5],[3.7000000000000002],[79.700000000000003],[-28.699999999999999],[-21.699999999999999],[48.799999999999997],[97],[132.90000000000001],[48.200000000000003],[33.600000000000001],[26.600000000000001],[-12],[24.300000000000001],[-0.29999999999999999],[-12.5],[-28.5],[-53],[-6.2000000000000002],[-20],[-103.3],[11.5],[17.600000000000001]],[[-4.9000000000000004],[3.7999999999999998],[0.20000000000000001],[-1.1000000000000001],[-1],[-7.9000000000000004],[-9.5999999999999996],[-0.69999999999999996],[-7.5],[-8.5],[1.8999999999999999],[-0.29999999999999999],[2.6000000000000001],[-3.5],[-5.9000000000000004],[0.59999999999999998],[-6.0999999999999996],[-1.3999999999999999],[-8.5999999999999996],[-4.7000000000000002],[-1.8999999999999999],[-5.2000000000000002],[-5.7999999999999998],[-2],[-4.5],[-0.29999999999999999],[-3.7000000000000002],[-6.4000000000000004],[0.90000000000000002],[-2.2999999999999998],[-2.7999999999999998],[-1.8],[4.2999999999999998],[7],[5.9000000000000004],[-11.4],[-7.2000000000000002],[-3.2000000000000002],[-0.20000000000000001],[-1.6000000000000001],[7.0999999999999996],[5.5999999999999996],[12.199999999999999],[3.5],[3.2000000000000002],[-2.2000000000000002],[-9.5],[7.7999999999999998],[14.1],[-4.7999999999999998],[-14.5],[3.2999999999999998],[1.7]],[[-5.7000000000000002],[24.800000000000001],[8.3000000000000007],[43.299999999999997],[8.8000000000000007],[9.5999999999999996],[32],[21.199999999999999],[-4.2999999999999998],[25.5],[15.6],[40.299999999999997],[48],[32.299999999999997],[-3.6000000000000001],[23.800000000000001],[13.199999999999999],[5.5999999999999996],[26.800000000000001],[12.199999999999999],[-5.2999999999999998],[11.4],[-39.200000000000003],[-18.699999999999999],[12.1],[2.6000000000000001],[-8.5],[3.2999999999999998],[2.8999999999999999],[16.199999999999999],[22.600000000000001],[17.800000000000001],[-19],[215.90000000000001],[132.69999999999999],[-36.5],[-80.099999999999994],[-88.599999999999994],[-130.40000000000001],[24.300000000000001],[0.59999999999999998],[64.700000000000003],[38.899999999999999],[-0.20000000000000001],[4],[-9.1999999999999993],[23.100000000000001],[95.5],[-10],[36.200000000000003],[145.80000000000001],[-22.100000000000001],[12.6]],[[-17.199999999999999],[-9.4000000000000004],[27.5],[3.3999999999999999],[-19],[-12.4],[36.299999999999997],[-35],[31.5],[-22.199999999999999],[-3.5],[44.5],[47.600000000000001],[34.399999999999999],[-52.299999999999997],[72],[-64.200000000000003],[40.799999999999997],[25.800000000000001],[-36.799999999999997],[0.40000000000000002],[-49.700000000000003],[11.5],[-18.300000000000001],[12],[18.800000000000001],[15.1],[-17.399999999999999],[28.699999999999999],[7.5999999999999996],[56.299999999999997],[55.5],[-52.700000000000003],[251.90000000000001],[-115.59999999999999],[-40.299999999999997],[23.399999999999999],[-83.599999999999994],[-25.399999999999999],[-9.9000000000000004],[-2.7999999999999998],[81.099999999999994],[172.19999999999999],[151.5],[-105.09999999999999],[-107.8],[76.299999999999997],[47.799999999999997],[-123],[-133.5],[-60.200000000000003],[-6.9000000000000004],[109.40000000000001]],[[22.600000000000001],[-3.3999999999999999],[35.899999999999999],[-25.100000000000001],[26.300000000000001],[26.5],[24.100000000000001],[25.5],[36.299999999999997],[26.399999999999999],[45.700000000000003],[12.300000000000001],[14],[59.799999999999997],[71.700000000000003],[46.899999999999999],[26],[13.5],[36.299999999999997],[31.199999999999999],[65],[6.7000000000000002],[91.400000000000006],[19.800000000000001],[2.8999999999999999],[50.600000000000001],[29.300000000000001],[19.399999999999999],[28.399999999999999],[-0.90000000000000002],[-12.300000000000001],[28.600000000000001],[21.199999999999999],[-54.700000000000003],[-158],[29.300000000000001],[31.5],[41.899999999999999],[31.300000000000001],[64.599999999999994],[82.099999999999994],[-14.5],[115.2],[82],[38],[53.700000000000003],[33.700000000000003],[32.600000000000001],[60.700000000000003],[29.100000000000001],[79.200000000000003],[81],[122.3]],[[9.0999999999999996],[-0.20000000000000001],[0.5],[10.5],[6.4000000000000004],[11.9],[-1.1000000000000001],[10.199999999999999],[8.1999999999999993],[0.59999999999999998],[0.20000000000000001],[-5.5],[6.7000000000000002],[19.600000000000001],[-8.3000000000000007],[-11.9],[11.800000000000001],[-14.9],[-1.6000000000000001],[5.7999999999999998],[6.7999999999999998],[4.7000000000000002],[-9.6999999999999993],[2.6000000000000001],[5.4000000000000004],[-10.199999999999999],[4.7000000000000002],[0.20000000000000001],[-10.5],[8.1999999999999993],[2.3999999999999999],[9.1999999999999993],[5],[-42.100000000000001],[-21.800000000000001],[-3.3999999999999999],[16.899999999999999],[37.399999999999999],[12.6],[6.0999999999999996],[3.3999999999999999],[3.1000000000000001],[-8.5999999999999996],[-15],[10],[-5],[5.7000000000000002],[-4.5999999999999996],[15.5],[22.300000000000001],[3.2999999999999998],[14.800000000000001],[5.0999999999999996]],[[-2.8999999999999999],[2.7000000000000002],[-0.90000000000000002],[2.2999999999999998],[-2.7000000000000002],[1.3],[2.1000000000000001],[-2.7999999999999998],[5.0999999999999996],[0.80000000000000004],[1.8],[0.10000000000000001],[-1.6000000000000001],[4.0999999999999996],[1.1000000000000001],[1.6000000000000001],[-1.6000000000000001],[2.7000000000000002],[2.3999999999999999],[-0.69999999999999996],[-3.7000000000000002],[3.3999999999999999],[4.5],[-2.2999999999999998],[-5.7999999999999998],[4.2999999999999998],[-1],[0.10000000000000001],[1.1000000000000001],[4.7000000000000002],[-0.29999999999999999],[-0.80000000000000004],[-1.8999999999999999],[19.300000000000001],[-3.1000000000000001],[20.199999999999999],[-6.5999999999999996],[7.2999999999999998],[18.600000000000001],[0.90000000000000002],[-16.899999999999999],[5.9000000000000004],[0.5],[-4.7999999999999998],[-2.2999999999999998],[4.5],[-3.7999999999999998],[-9.4000000000000004],[-5.5999999999999996],[-5.2999999999999998],[-16.899999999999999],[-2.7000000000000002],[-0.40000000000000002]]]

[]

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Liabilities of ADIs grew $289.0b, with:

a $137.2b increase in deposits, and
a $63.7b increase in derivatives

ADIs also continued to return to traditional funding arrangements following the final maturity of the TFF in June 2024, issuing:

$19.5b of one name paper issued offshore
$11.9b of bonds issued in Australia
$8.0b of bonds issued offshore

Issuance of debt securities was partly offset by:

a $17.7b net maturity of one name paper issued in Australia

Change in authorised deposit taking institutions' liabilities
	Total liabilities ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Dec-11	-19.2	-1.6	3.9	-22.8	4.2	-15.1	13	-0.8
Mar-12	27.8	2.5	6.3	4.2	-8.8	2.8	19.4	1.5
Jun-12	57.3	53.1	-5.1	-2.6	22.6	-5.3	-5.1	-0.3
Sep-12	61.9	48.3	-20.5	6.6	-4.8	0.6	30.6	1.2
Dec-12	31.2	32.4	9.3	-16.3	-10.5	-3.4	19.1	0.7
Mar-13	42.9	0.9	6.5	-10	-5.8	0.8	50	0.5
Jun-13	92.7	13.9	30.7	14.6	31.9	1.9	-3.8	3.4
Sep-13	56	51.2	-17.8	6.2	-18.1	0.7	33	0.8
Dec-13	101.7	41.3	1.7	15.2	17.1	5.4	21.6	-0.7
Mar-14	37.2	15.7	13.7	-5	-3.8	0.7	13.4	2.6
Jun-14	59.7	34.9	18	2.8	1.3	1.4	0.7	0.6
Sep-14	72.1	37.4	-5.7	16	37.7	9.8	-22.3	-0.7
Dec-14	146.3	38.5	19.8	18.7	44.1	-7.2	31.4	1.1
Mar-15	177.1	43.2	11	11.4	40.2	1.3	65.7	4.2
Jun-15	-71.8	8.2	9.5	10.4	-55.8	3.2	-49.2	1.8
Sep-15	114	66.9	-2.5	29.7	52.1	7.8	-39.6	-0.4
Dec-15	53.1	23.4	5.7	0.9	-32	6	49.2	-0.1
Mar-16	-8.2	9.6	-18.4	0.2	55.5	1.1	-58.4	2.1
Jun-16	78.5	51.5	0	13.9	14.1	-2	-0.7	1.7
Sep-16	2.3	43.2	-11.1	-12.5	-33.7	-4.4	20.5	0.4
Dec-16	120.2	68.4	13.9	-7.1	-4.5	4.3	48.5	-3.2
Mar-17	-24.4	0.9	1.1	-15.8	-32.9	-3.8	26.8	-0.8
Jun-17	36.2	34.8	17.1	3.5	11.9	5.4	-38.7	2.3
Sep-17	-16.8	-0.2	11.1	0.7	-28	-3.3	2.5	0.5
Dec-17	47.4	34.6	-13.5	6.6	11.5	7.6	4.8	-4.2
Mar-18	36.6	10.2	11.1	26.4	6.6	5.3	-29.3	6.4
Jun-18	55	14.2	3.2	9.1	18.7	-0.2	13.6	-3.6
Sep-18	13.8	32.5	-28.9	14.9	-9.1	5.9	-6	4.6
Dec-18	10.6	2.5	22	4.8	20.6	-1.3	-33.2	-4.8
Mar-19	43.3	7.5	-1.1	-9.4	13.9	14.1	12.5	5.8
Jun-19	127.1	23.6	-24	12.8	58.6	10.4	39.9	5.9
Sep-19	119.4	49	-6.3	6.7	52.7	9.8	12.5	-5.1
Dec-19	-86.1	5.7	21.8	-27.7	-38.3	-0.9	-41.2	-5.7
Mar-20	338.5	190.8	-13.1	36.6	205.9	29.3	-130.8	19.9
Jun-20	-100.5	9.6	-24.8	-38	-70	-15.3	44.3	-6.3
Sep-20	-77.4	68.9	-24.7	-31.4	-54.9	-16.1	-19.8	0.6
Dec-20	93.4	3.7	13.1	-22	35.8	-14.1	85.1	-8.1
Mar-21	7	34.2	19	-29.5	-99.6	16.8	60.3	5.7
Jun-21	59.4	42.1	5.8	3.3	-29.7	8.2	32.1	-2.4
Sep-21	142.6	93.8	20.1	-3.6	-11.9	8.5	25.2	10.4
Dec-21	87.9	60.6	49.2	-4.3	1.3	16.4	-17	-18.2
Mar-22	174.2	58.8	-11.5	-14.1	95.3	13.4	22.4	9.9
Jun-22	206.7	98.6	35	16.5	152.6	-1.6	-96.3	1.9
Sep-22	228.4	64.9	-4.1	5.4	151.8	0.8	12.4	-2.7
Dec-22	8.8	21.1	15.8	20.9	-73.6	-13.5	45.4	-7.3
Mar-23	-82.6	41.6	-10	31.1	-126.7	-11.6	-17.2	10.4
Jun-23	91.2	-5.3	-3.1	13.7	84.4	2.1	2.4	-2.9
Sep-23	113.2	38.3	12.3	14.5	47	-6.8	10	-2.2
Dec-23	-16.8	20.2	19.8	24.1	-107.4	-8.4	39.3	-4.6
Mar-24	-33.6	47.6	-6.2	30	-154.8	-8.3	54.7	3.5
Jun-24	38.1	26.3	32	17.1	-59	-5.4	20.1	7
Sep-24	118.2	58.5	-11.8	27.1	0	4.6	43.5	-3.7
Dec-24	289	137.2	16.6	38.8	63.7	15.8	21.7	-4.8

Change in authorised deposit taking institutions' liabilities

["","Total liabilities","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[-19.199999999999999],[27.800000000000001],[57.299999999999997],[61.899999999999999],[31.199999999999999],[42.899999999999999],[92.700000000000003],[56],[101.7],[37.200000000000003],[59.700000000000003],[72.099999999999994],[146.30000000000001],[177.09999999999999],[-71.799999999999997],[114],[53.100000000000001],[-8.1999999999999993],[78.5],[2.2999999999999998],[120.2],[-24.399999999999999],[36.200000000000003],[-16.800000000000001],[47.399999999999999],[36.600000000000001],[55],[13.800000000000001],[10.6],[43.299999999999997],[127.09999999999999],[119.40000000000001],[-86.099999999999994],[338.5],[-100.5],[-77.400000000000006],[93.400000000000006],[7],[59.399999999999999],[142.59999999999999],[87.900000000000006],[174.19999999999999],[206.69999999999999],[228.40000000000001],[8.8000000000000007],[-82.599999999999994],[91.200000000000003],[113.2],[-16.800000000000001],[-33.600000000000001],[38.100000000000001],[118.2],[289]],[[-1.6000000000000001],[2.5],[53.100000000000001],[48.299999999999997],[32.399999999999999],[0.90000000000000002],[13.9],[51.200000000000003],[41.299999999999997],[15.699999999999999],[34.899999999999999],[37.399999999999999],[38.5],[43.200000000000003],[8.1999999999999993],[66.900000000000006],[23.399999999999999],[9.5999999999999996],[51.5],[43.200000000000003],[68.400000000000006],[0.90000000000000002],[34.799999999999997],[-0.20000000000000001],[34.600000000000001],[10.199999999999999],[14.199999999999999],[32.5],[2.5],[7.5],[23.600000000000001],[49],[5.7000000000000002],[190.80000000000001],[9.5999999999999996],[68.900000000000006],[3.7000000000000002],[34.200000000000003],[42.100000000000001],[93.799999999999997],[60.600000000000001],[58.799999999999997],[98.599999999999994],[64.900000000000006],[21.100000000000001],[41.600000000000001],[-5.2999999999999998],[38.299999999999997],[20.199999999999999],[47.600000000000001],[26.300000000000001],[58.5],[137.19999999999999]],[[3.8999999999999999],[6.2999999999999998],[-5.0999999999999996],[-20.5],[9.3000000000000007],[6.5],[30.699999999999999],[-17.800000000000001],[1.7],[13.699999999999999],[18],[-5.7000000000000002],[19.800000000000001],[11],[9.5],[-2.5],[5.7000000000000002],[-18.399999999999999],[0],[-11.1],[13.9],[1.1000000000000001],[17.100000000000001],[11.1],[-13.5],[11.1],[3.2000000000000002],[-28.899999999999999],[22],[-1.1000000000000001],[-24],[-6.2999999999999998],[21.800000000000001],[-13.1],[-24.800000000000001],[-24.699999999999999],[13.1],[19],[5.7999999999999998],[20.100000000000001],[49.200000000000003],[-11.5],[35],[-4.0999999999999996],[15.800000000000001],[-10],[-3.1000000000000001],[12.300000000000001],[19.800000000000001],[-6.2000000000000002],[32],[-11.800000000000001],[16.600000000000001]],[[-22.800000000000001],[4.2000000000000002],[-2.6000000000000001],[6.5999999999999996],[-16.300000000000001],[-10],[14.6],[6.2000000000000002],[15.199999999999999],[-5],[2.7999999999999998],[16],[18.699999999999999],[11.4],[10.4],[29.699999999999999],[0.90000000000000002],[0.20000000000000001],[13.9],[-12.5],[-7.0999999999999996],[-15.800000000000001],[3.5],[0.69999999999999996],[6.5999999999999996],[26.399999999999999],[9.0999999999999996],[14.9],[4.7999999999999998],[-9.4000000000000004],[12.800000000000001],[6.7000000000000002],[-27.699999999999999],[36.600000000000001],[-38],[-31.399999999999999],[-22],[-29.5],[3.2999999999999998],[-3.6000000000000001],[-4.2999999999999998],[-14.1],[16.5],[5.4000000000000004],[20.899999999999999],[31.100000000000001],[13.699999999999999],[14.5],[24.100000000000001],[30],[17.100000000000001],[27.100000000000001],[38.799999999999997]],[[4.2000000000000002],[-8.8000000000000007],[22.600000000000001],[-4.7999999999999998],[-10.5],[-5.7999999999999998],[31.899999999999999],[-18.100000000000001],[17.100000000000001],[-3.7999999999999998],[1.3],[37.700000000000003],[44.100000000000001],[40.200000000000003],[-55.799999999999997],[52.100000000000001],[-32],[55.5],[14.1],[-33.700000000000003],[-4.5],[-32.899999999999999],[11.9],[-28],[11.5],[6.5999999999999996],[18.699999999999999],[-9.0999999999999996],[20.600000000000001],[13.9],[58.600000000000001],[52.700000000000003],[-38.299999999999997],[205.90000000000001],[-70],[-54.899999999999999],[35.799999999999997],[-99.599999999999994],[-29.699999999999999],[-11.9],[1.3],[95.299999999999997],[152.59999999999999],[151.80000000000001],[-73.599999999999994],[-126.7],[84.400000000000006],[47],[-107.40000000000001],[-154.80000000000001],[-59],[0],[63.700000000000003]],[[-15.1],[2.7999999999999998],[-5.2999999999999998],[0.59999999999999998],[-3.3999999999999999],[0.80000000000000004],[1.8999999999999999],[0.69999999999999996],[5.4000000000000004],[0.69999999999999996],[1.3999999999999999],[9.8000000000000007],[-7.2000000000000002],[1.3],[3.2000000000000002],[7.7999999999999998],[6],[1.1000000000000001],[-2],[-4.4000000000000004],[4.2999999999999998],[-3.7999999999999998],[5.4000000000000004],[-3.2999999999999998],[7.5999999999999996],[5.2999999999999998],[-0.20000000000000001],[5.9000000000000004],[-1.3],[14.1],[10.4],[9.8000000000000007],[-0.90000000000000002],[29.300000000000001],[-15.300000000000001],[-16.100000000000001],[-14.1],[16.800000000000001],[8.1999999999999993],[8.5],[16.399999999999999],[13.4],[-1.6000000000000001],[0.80000000000000004],[-13.5],[-11.6],[2.1000000000000001],[-6.7999999999999998],[-8.4000000000000004],[-8.3000000000000007],[-5.4000000000000004],[4.5999999999999996],[15.800000000000001]],[[13],[19.399999999999999],[-5.0999999999999996],[30.600000000000001],[19.100000000000001],[50],[-3.7999999999999998],[33],[21.600000000000001],[13.4],[0.69999999999999996],[-22.300000000000001],[31.399999999999999],[65.700000000000003],[-49.200000000000003],[-39.600000000000001],[49.200000000000003],[-58.399999999999999],[-0.69999999999999996],[20.5],[48.5],[26.800000000000001],[-38.700000000000003],[2.5],[4.7999999999999998],[-29.300000000000001],[13.6],[-6],[-33.200000000000003],[12.5],[39.899999999999999],[12.5],[-41.200000000000003],[-130.80000000000001],[44.299999999999997],[-19.800000000000001],[85.099999999999994],[60.299999999999997],[32.100000000000001],[25.199999999999999],[-17],[22.399999999999999],[-96.299999999999997],[12.4],[45.399999999999999],[-17.199999999999999],[2.3999999999999999],[10],[39.299999999999997],[54.700000000000003],[20.100000000000001],[43.5],[21.699999999999999]],[[-0.80000000000000004],[1.5],[-0.29999999999999999],[1.2],[0.69999999999999996],[0.5],[3.3999999999999999],[0.80000000000000004],[-0.69999999999999996],[2.6000000000000001],[0.59999999999999998],[-0.69999999999999996],[1.1000000000000001],[4.2000000000000002],[1.8],[-0.40000000000000002],[-0.10000000000000001],[2.1000000000000001],[1.7],[0.40000000000000002],[-3.2000000000000002],[-0.80000000000000004],[2.2999999999999998],[0.5],[-4.2000000000000002],[6.4000000000000004],[-3.6000000000000001],[4.5999999999999996],[-4.7999999999999998],[5.7999999999999998],[5.9000000000000004],[-5.0999999999999996],[-5.7000000000000002],[19.899999999999999],[-6.2999999999999998],[0.59999999999999998],[-8.0999999999999996],[5.7000000000000002],[-2.3999999999999999],[10.4],[-18.199999999999999],[9.9000000000000004],[1.8999999999999999],[-2.7000000000000002],[-7.2999999999999998],[10.4],[-2.8999999999999999],[-2.2000000000000002],[-4.5999999999999996],[3.5],[7],[-3.7000000000000002],[-4.7999999999999998]]]

[]

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Pension (superannuation) funds

Financial assets

Pension (superannuation) funds' selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	32.6	3,326.4	13.0	3,465.8	9.7	3,545.7
Deposits	1.3	301.1	11.0	311.7	0.9	315.0
Debt securities	1.5	245.7	-9.6	241.4	-7.6	232.8
Shares and equity	31.8	2,718.0	16.8	2,841.3	24.3	2,935.6
	Other private non-fin corps	7.0	486.5	3.1	513.0	0.6	496.0
	Non-money market investment funds	5.5	1,017.1	3.9	1,052.1	7.7	1,074.5
	Rest of world	15.1	658.8	9.4	689.9	15.1	764.2
Net equity in life offices	0.1	13.7	-0.7	13.7	0.0	13.5
Other assets	-2.0	47.9	-4.5	57.7	-7.9	48.8

Liabilities

Pension (superannuation) funds' selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	33.4	3,583.3	16.6	3,725.8	13.1	3,809.0
Net equity in reserves	40.1	3,528.0	22.5	3,666.6	26.5	3,721.7
	Households	39.8	3,520.2	22.2	3,658.1	26.2	3,713.1
Other liabilities	-6.7	55.3	-5.9	59.2	-13.3	87.2

Total financial assets of pension (superannuation funds) increased by 2.3% ($79.8b), with a:

$94.3b increase in equities
$3.3b increase in deposits

This was partly offset by a:

$7.9b decrease in derivatives
$6.6b decrease in short term debt securities

Pension funds favoured equity assets over fixed income assets this quarter, acquiring $15.1b in overseas equity and disposing of $7.6b in debt securities. Revaluation gains of $70.0b in equities reflect a rise in the value of unlisted shares. Whilst domestic share markets were subdued, overseas share values grew due to the depreciation of the Australian dollar.

Pension funds' financial assets
	Total assets (RHS) ($b)	Revaluations (LHS) ($b)	Transactions (LHS) ($b)
Dec-11	1,146.6	-3.3	13.1
Mar-12	1,207.1	41.8	18.7
Jun-12	1,202.4	-37.7	33.1
Sep-12	1,247.2	30.7	14.1
Dec-12	1,298.2	34.2	16.7
Mar-13	1,361.1	43.8	19.1
Jun-13	1,378.8	-20.6	38.2
Sep-13	1,454.8	62.5	13.5
Dec-13	1,508.7	28.7	25.2
Mar-14	1,544.3	14.8	20.8
Jun-14	1,575.8	-0.5	32.0
Sep-14	1,611.6	11.8	24.1
Dec-14	1,665.8	32.3	21.9
Mar-15	1,762.5	79.9	16.8
Jun-15	1,745	-52.3	34.8
Sep-15	1,719	-45.6	19.6
Dec-15	1,775.1	39.5	16.5
Mar-16	1,748.7	-33.8	7.5
Jun-16	1,821.6	42.7	30.2
Sep-16	1,895.5	61.4	12.5
Dec-16	1,947.7	33.0	19.3
Mar-17	2,001.8	35.0	19.1
Jun-17	2,050.6	9.3	39.5
Sep-17	2,064.4	2.9	10.8
Dec-17	2,158.1	73.0	20.8
Mar-18	2,143.7	-29.5	15.1
Jun-18	2,217.9	50.4	23.8
Sep-18	2,263.3	32.4	13.0
Dec-18	2,150.2	-127.5	14.5
Mar-19	2,281.1	116.2	14.7
Jun-19	2,382.9	74.7	27.1
Sep-19	2,441.6	46.7	12.0
Dec-19	2,494.9	30.0	23.3
Mar-20	2,239.1	-269.7	13.9
Jun-20	2,376.3	130.3	7.0
Sep-20	2,409.4	26.9	6.2
Dec-20	2,568.1	142.5	16.2
Mar-21	2,636.8	49.1	19.6
Jun-21	2,793.2	123.9	32.4
Sep-21	2,853.6	42.0	18.4
Dec-21	2,937.9	65.4	18.9
Mar-22	2,883.3	-71.4	16.8
Jun-22	2,713.6	-199.7	30.0
Sep-22	2,723.1	-10.1	19.6
Dec-22	2,822.9	87.0	12.8
Mar-23	2,936	86.8	26.3
Jun-23	3,006.4	39.5	31.0
Sep-23	3,017.2	-11.0	21.7
Dec-23	3,160.2	126.0	17.0
Mar-24	3,307.6	124.1	23.3
Jun-24	3,326.4	-13.8	32.6
Sep-24	3,465.8	126.4	13.0
Dec-24	3,545.7	70.1	9.7

Pension funds' financial assets

["","Total assets (RHS)","Revaluations (LHS)","Transactions (LHS)"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[1146.5999999999999],[1207.0999999999999],[1202.4000000000001],[1247.2],[1298.2],[1361.0999999999999],[1378.8],[1454.8],[1508.7],[1544.3],[1575.8],[1611.5999999999999],[1665.8],[1762.5],[1745],[1719],[1775.0999999999999],[1748.7],[1821.5999999999999],[1895.5],[1947.7],[2001.8],[2050.5999999999999],[2064.4000000000001],[2158.0999999999999],[2143.6999999999998],[2217.9000000000001],[2263.3000000000002],[2150.1999999999998],[2281.0999999999999],[2382.9000000000001],[2441.5999999999999],[2494.9000000000001],[2239.0999999999999],[2376.3000000000002],[2409.4000000000001],[2568.0999999999999],[2636.8000000000002],[2793.1999999999998],[2853.5999999999999],[2937.9000000000001],[2883.3000000000002],[2713.5999999999999],[2723.0999999999999],[2822.9000000000001],[2936],[3006.4000000000001],[3017.1999999999998],[3160.1999999999998],[3307.5999999999999],[3326.4000000000001],[3465.8000000000002],[3545.6999999999998]],[[-3.2999999999999998],[41.799999999999997],[-37.700000000000003],[30.699999999999999],[34.200000000000003],[43.799999999999997],[-20.600000000000001],[62.5],[28.699999999999999],[14.800000000000001],[-0.5],[11.800000000000001],[32.299999999999997],[79.900000000000006],[-52.299999999999997],[-45.600000000000001],[39.5],[-33.799999999999997],[42.700000000000003],[61.399999999999999],[33],[35],[9.3000000000000007],[2.8999999999999999],[73],[-29.5],[50.399999999999999],[32.399999999999999],[-127.5],[116.2],[74.700000000000003],[46.700000000000003],[30],[-269.69999999999999],[130.30000000000001],[26.899999999999999],[142.5],[49.100000000000001],[123.90000000000001],[42],[65.400000000000006],[-71.400000000000006],[-199.69999999999999],[-10.1],[87],[86.799999999999997],[39.5],[-11],[126],[124.09999999999999],[-13.800000000000001],[126.40000000000001],[70.099999999999994]],[[13.1],[18.699999999999999],[33.100000000000001],[14.1],[16.699999999999999],[19.100000000000001],[38.200000000000003],[13.5],[25.199999999999999],[20.800000000000001],[32],[24.100000000000001],[21.899999999999999],[16.800000000000001],[34.799999999999997],[19.600000000000001],[16.5],[7.5],[30.199999999999999],[12.5],[19.300000000000001],[19.100000000000001],[39.5],[10.800000000000001],[20.800000000000001],[15.1],[23.800000000000001],[13],[14.5],[14.699999999999999],[27.100000000000001],[12],[23.300000000000001],[13.9],[7],[6.2000000000000002],[16.199999999999999],[19.600000000000001],[32.399999999999999],[18.399999999999999],[18.899999999999999],[16.800000000000001],[30],[19.600000000000001],[12.800000000000001],[26.300000000000001],[31],[21.699999999999999],[17],[23.300000000000001],[32.600000000000001],[13],[9.6999999999999993]]]

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Government

National general government financial assets

National general government selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	-0.2	792.0	13.7	813.0	-36.5	799.1
Deposits	4.7	138.7	8.0	146.3	-34.5	113.5
	Central bank	1.3	105.2	4.6	109.7	-32.6	77.2
	Authorised deposit taking institutions	2.3	23.2	2.4	25.5	-0.6	25.8
One name paper	-3.9	28.9	-2.4	27.2	-2.8	24.9
Shares and equity	3.5	198.3	6.1	209.5	2.7	230.1
Other assets	-4.5	426.1	1.9	430.0	-1.9	430.7

National general government liabilities

National general government selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	-1.3	1,279.9	32.1	1,339.4	-22.4	1,306.3
One name paper	-0.2	27.8	-2.9	24.9	4.9	29.8
Bonds	-19.1	829.9	29.1	883.6	-25.0	841.1
	Central bank	-21.0	235.0	5.8	246.8	-17.4	226.9
	Authorised deposit taking institutions	22.1	102.2	20.0	125.2	-17.1	106.8
	Rest of world	-15.6	391.6	0.8	404.5	9.9	401.7
Other liabilities	17.9	422.2	6.0	430.8	-2.4	435.4

State and local general government financial assets

State and local general government selected financial assets, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total assets	1.8	722.9	-0.4	721.3	-3.4	727.0
Deposits	-0.9	90.1	3.9	94.0	-3.7	90.5
Loans and placements	2.5	76.7	-3.8	72.9	0.2	73.1
Shares and equity	0.8	522.8	-1.9	519.4	0.4	528.8
	State and local PNFCs	0.0	399.8	0.0	405.0	0.0	407.6
	Other private non-fin corps	0.2	41.6	-0.6	41.4	0.6	41.6
Other assets	-0.6	33.4	1.4	35.1	-0.4	34.7

State and local general government liabilities

State and local general government selected liabilities, $b
	Transactions, Jun-24	Amounts outstanding, Jun-24	Transactions, Sep-24	Amounts outstanding, Sep-24	Transactions, Dec-24	Amounts outstanding, Dec-24
Total liabilities	22.2	639.5	20.0	659.1	20.6	677.0
Loans and placements	16.0	436.5	17.4	453.9	17.4	471.3
	Central borrowing authorities	15.9	416.9	17.7	434.6	17.5	452.1
Unfunded superannuation claims	0.6	108.2	0.6	108.1	0.6	106.3
Other liabilities	5.6	94.8	1.9	97.0	2.6	99.4

General government

General government (national, and state) were net borrowers of $38.0b. This was driven by a:

$38.2b decrease in deposits
$17.8b borrowing of loans
$5.3b issuance of one name paper

Partly offset by a:

$23.3b net maturity of bond liabilities

National general government were net borrowers of $14.0b. The national general government's net borrowing position was driven by a:

$34.5b decrease in deposits
$4.9b issuance of one name paper

Partly offset by a:

$25.0b net maturity of bond liabilities

The December quarter saw the lowest demand for credit by Commonwealth government since the series began in September 1988. This was mainly driven by the maturity of early pandemic era debt issuances and follows high demand for credit in the September quarter.

State and local general government were net borrowers of $24.0b. The state and local general government's net borrowing position was mainly driven by:

$17.4b in loan borrowings

Loan liabilities of state and local general government reached record levels of $471.3b as state governments sourced funding for employee expenses, social benefits to households, and health and transport infrastructure projects.

General government's change in financial position
	Net lending/borrowing ($b)	Deposits ($b)	Notes ($b)	Bonds ($b)	Loans ($b)	Other (a) ($b)
Dec-11	-14.9	11.3	0.9	-22.0	-2.1	-2.9
Mar-12	-13.2	3.4	-1.7	-13.8	-0.3	-0.7
Jun-12	-30.1	-7.4	1.4	-4.9	-5.0	-14.2
Sep-12	-24.3	9.3	-3.5	-15.2	-15.5	0.5
Dec-12	-12.4	2.9	-5.3	-10.8	6.3	-5.5
Mar-13	-15.5	0.5	1.8	-13.3	-2.1	-2.4
Jun-13	-14.0	1.0	14.3	-8.7	0.6	-21.2
Sep-13	-20.2	6.0	-1.5	-24.7	-11.3	11.4
Dec-13	-10.9	5.6	-0.4	-16.4	-0.3	0.7
Mar-14	-11.0	13.5	8.6	-27.8	-2.5	-2.8
Jun-14	-10.2	-8.4	-3.3	-4.6	1.0	5.1
Sep-14	-18.4	6.5	-1.7	-18.4	-4.5	-0.3
Dec-14	-10.0	0.4	-1.1	-10.8	3.3	-1.8
Mar-15	-3.6	12.2	3.5	-16.0	0.4	-3.8
Jun-15	-8.4	-5.1	-0.2	-7.3	2.1	2.2
Sep-15	-15.0	1.9	-1.9	-26.3	-1.3	12.6
Dec-15	-7.2	-7.0	5.8	-7.6	6.8	-5.2
Mar-16	-8.8	9.3	1.7	-22.1	1.5	0.8
Jun-16	-6.0	1.1	0.5	-4.8	-0.4	-2.3
Sep-16	-22.1	-3.1	3.7	-24.0	-0.7	1.9
Dec-16	-24.1	11.5	0.8	-23.7	4.6	-17.3
Mar-17	2.2	7.9	0.5	-20.7	2.2	12.3
Jun-17	-12.8	15.7	6.9	-19.8	-0.5	-15.2
Sep-17	-18.7	-24.2	0.5	-0.9	-4.0	9.8
Dec-17	-2.6	8.6	-5.6	-14.7	1.7	7.4
Mar-18	-0.9	-1.0	-2.2	-5.1	1.6	5.8
Jun-18	-0.2	5.0	6.2	-11.3	6.2	-6.3
Sep-18	-18.5	-3.3	-0.3	-2.4	-1.8	-10.7
Dec-18	-9.2	-18.2	2.0	-2.3	-3.1	12.4
Mar-19	-0.3	-1.4	1.6	3.7	0.4	-4.7
Jun-19	-9.2	6.6	0.1	-10.5	-2.5	-3.0
Sep-19	-22.9	0.3	-1.3	-13.7	-8.6	0.3
Dec-19	-14.2	-7.7	-4.0	1.0	-6.3	2.8
Mar-20	-14.3	21.1	-16.3	-15.7	-12.7	9.3
Jun-20	-89.0	46.9	-25.8	-71.0	-26.0	-13.1
Sep-20	-110.8	42.4	0.1	-117.2	-30.5	-5.6
Dec-20	-44.9	-32.3	16.5	-23.0	-21.7	15.7
Mar-21	-14.6	-15.0	14.0	-21.9	-0.5	8.8
Jun-21	-9.8	1.1	4.6	-5.7	1.1	-11.0
Sep-21	-43.7	9.6	0.0	-23.9	-26.6	-2.8
Dec-21	-26.0	8.8	-5.2	-8.4	-5.8	-15.4
Mar-22	-1.8	3.1	3.5	-18.2	0.3	9.6
Jun-22	-30.1	34.2	-8.6	-26.0	-16.2	-13.5
Sep-22	-26.1	-6.6	1.3	8.8	-18.8	-10.8
Dec-22	-13.8	-14.1	-0.5	-1.8	-7.4	9.9
Mar-23	13.0	18.6	-4.9	-11.4	-2.2	12.9
Jun-23	6.4	11.5	10.0	14.9	-4.6	-25.5
Sep-23	-24.7	-10.9	-5.8	-7.2	-12.6	11.8
Dec-23	-28.8	-8.0	4.8	-15.4	-17.2	6.9
Mar-24	-1.0	11.0	-3.2	-4.2	-5.7	1.1
Jun-24	-19.3	3.8	-3.7	19.6	-18.4	-20.4
Sep-24	-38.9	11.9	0.6	-27.2	-22.1	-2.0
Dec-24	-38.0	-38.2	-8.1	20.4	-17.3	5.1

General government's change in financial position

["","Net lending\/borrowing","Deposits","Notes","Bonds","Loans","Other (a)"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[-14.9],[-13.199999999999999],[-30.100000000000001],[-24.300000000000001],[-12.4],[-15.5],[-14],[-20.199999999999999],[-10.9],[-11],[-10.199999999999999],[-18.399999999999999],[-10],[-3.6000000000000001],[-8.4000000000000004],[-15],[-7.2000000000000002],[-8.8000000000000007],[-6],[-22.100000000000001],[-24.100000000000001],[2.2000000000000002],[-12.800000000000001],[-18.699999999999999],[-2.6000000000000001],[-0.90000000000000002],[-0.20000000000000001],[-18.5],[-9.1999999999999993],[-0.29999999999999999],[-9.1999999999999993],[-22.899999999999999],[-14.199999999999999],[-14.300000000000001],[-89],[-110.8],[-44.899999999999999],[-14.6],[-9.8000000000000007],[-43.700000000000003],[-26],[-1.8],[-30.100000000000001],[-26.100000000000001],[-13.800000000000001],[13],[6.4000000000000004],[-24.699999999999999],[-28.800000000000001],[-1],[-19.300000000000001],[-38.899999999999999],[-38]],[[11.300000000000001],[3.3999999999999999],[-7.4000000000000004],[9.3000000000000007],[2.8999999999999999],[0.5],[1],[6],[5.5999999999999996],[13.5],[-8.4000000000000004],[6.5],[0.40000000000000002],[12.199999999999999],[-5.0999999999999996],[1.8999999999999999],[-7],[9.3000000000000007],[1.1000000000000001],[-3.1000000000000001],[11.5],[7.9000000000000004],[15.699999999999999],[-24.199999999999999],[8.5999999999999996],[-1],[5],[-3.2999999999999998],[-18.199999999999999],[-1.3999999999999999],[6.5999999999999996],[0.29999999999999999],[-7.7000000000000002],[21.100000000000001],[46.899999999999999],[42.399999999999999],[-32.299999999999997],[-15],[1.1000000000000001],[9.5999999999999996],[8.8000000000000007],[3.1000000000000001],[34.200000000000003],[-6.5999999999999996],[-14.1],[18.600000000000001],[11.5],[-10.9],[-8],[11],[3.7999999999999998],[11.9],[-38.200000000000003]],[[0.90000000000000002],[-1.7],[1.3999999999999999],[-3.5],[-5.2999999999999998],[1.8],[14.300000000000001],[-1.5],[-0.40000000000000002],[8.5999999999999996],[-3.2999999999999998],[-1.7],[-1.1000000000000001],[3.5],[-0.20000000000000001],[-1.8999999999999999],[5.7999999999999998],[1.7],[0.5],[3.7000000000000002],[0.80000000000000004],[0.5],[6.9000000000000004],[0.5],[-5.5999999999999996],[-2.2000000000000002],[6.2000000000000002],[-0.29999999999999999],[2],[1.6000000000000001],[0.10000000000000001],[-1.3],[-4],[-16.300000000000001],[-25.800000000000001],[0.10000000000000001],[16.5],[14],[4.5999999999999996],[0],[-5.2000000000000002],[3.5],[-8.5999999999999996],[1.3],[-0.5],[-4.9000000000000004],[10],[-5.7999999999999998],[4.7999999999999998],[-3.2000000000000002],[-3.7000000000000002],[0.59999999999999998],[-8.0999999999999996]],[[-22],[-13.800000000000001],[-4.9000000000000004],[-15.199999999999999],[-10.800000000000001],[-13.300000000000001],[-8.6999999999999993],[-24.699999999999999],[-16.399999999999999],[-27.800000000000001],[-4.5999999999999996],[-18.399999999999999],[-10.800000000000001],[-16],[-7.2999999999999998],[-26.300000000000001],[-7.5999999999999996],[-22.100000000000001],[-4.7999999999999998],[-24],[-23.699999999999999],[-20.699999999999999],[-19.800000000000001],[-0.90000000000000002],[-14.699999999999999],[-5.0999999999999996],[-11.300000000000001],[-2.3999999999999999],[-2.2999999999999998],[3.7000000000000002],[-10.5],[-13.699999999999999],[1],[-15.699999999999999],[-71],[-117.2],[-23],[-21.899999999999999],[-5.7000000000000002],[-23.899999999999999],[-8.4000000000000004],[-18.199999999999999],[-26],[8.8000000000000007],[-1.8],[-11.4],[14.9],[-7.2000000000000002],[-15.4],[-4.2000000000000002],[19.600000000000001],[-27.199999999999999],[20.399999999999999]],[[-2.1000000000000001],[-0.29999999999999999],[-5],[-15.5],[6.2999999999999998],[-2.1000000000000001],[0.59999999999999998],[-11.300000000000001],[-0.29999999999999999],[-2.5],[1],[-4.5],[3.2999999999999998],[0.40000000000000002],[2.1000000000000001],[-1.3],[6.7999999999999998],[1.5],[-0.40000000000000002],[-0.69999999999999996],[4.5999999999999996],[2.2000000000000002],[-0.5],[-4],[1.7],[1.6000000000000001],[6.2000000000000002],[-1.8],[-3.1000000000000001],[0.40000000000000002],[-2.5],[-8.5999999999999996],[-6.2999999999999998],[-12.699999999999999],[-26],[-30.5],[-21.699999999999999],[-0.5],[1.1000000000000001],[-26.600000000000001],[-5.7999999999999998],[0.29999999999999999],[-16.199999999999999],[-18.800000000000001],[-7.4000000000000004],[-2.2000000000000002],[-4.5999999999999996],[-12.6],[-17.199999999999999],[-5.7000000000000002],[-18.399999999999999],[-22.100000000000001],[-17.300000000000001]],[[-2.8999999999999999],[-0.69999999999999996],[-14.199999999999999],[0.5],[-5.5],[-2.3999999999999999],[-21.199999999999999],[11.4],[0.69999999999999996],[-2.7999999999999998],[5.0999999999999996],[-0.29999999999999999],[-1.8],[-3.7999999999999998],[2.2000000000000002],[12.6],[-5.2000000000000002],[0.80000000000000004],[-2.2999999999999998],[1.8999999999999999],[-17.300000000000001],[12.300000000000001],[-15.199999999999999],[9.8000000000000007],[7.4000000000000004],[5.7999999999999998],[-6.2999999999999998],[-10.699999999999999],[12.4],[-4.7000000000000002],[-3],[0.29999999999999999],[2.7999999999999998],[9.3000000000000007],[-13.1],[-5.5999999999999996],[15.699999999999999],[8.8000000000000007],[-11],[-2.7999999999999998],[-15.4],[9.5999999999999996],[-13.5],[-10.800000000000001],[9.9000000000000004],[12.9],[-25.5],[11.800000000000001],[6.9000000000000004],[1.1000000000000001],[-20.399999999999999],[-2],[5.0999999999999996]]]

[]

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[{"value":"0","axis_id":"0","axis_title":"$b","axis_units":"","tooltip_units":"($b)","table_units":"($b)","axis_min":"-200","axis_max":"100","tick_interval":"50","precision":"1","data_unit_prefix":"","data_unit_suffix":"","reverse_axis":false}]

"Other" includes gold and special drawing rights, currency, bills of exchange, derivatives, shares and equity, unfunded superannuation and accounts payable/receivable.

Capital investment

Figures in the capital investment section are in seasonally adjusted current prices.

Net lending (+) / borrowing (-)

Australia's net borrowing position fell by $1.3b to $12.7b this quarter.

This was driven by a:

$1.0b decrease in change in inventories
$0.2b decrease in acquisitions less disposals of non-produced non-financial assets

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted
	Net lending / net borrowing relative to GDP (%)
Dec-67	-2.9
Mar-68	-5.2
Jun-68	-3.2
Sep-68	-3.7
Dec-68	-2.4
Mar-69	-2.4
Jun-69	-2.3
Sep-69	-1.4
Dec-69	-1.7
Mar-70	-1.4
Jun-70	-1.9
Sep-70	-1.5
Dec-70	-1.7
Mar-71	-2.1
Jun-71	-1.1
Sep-71	-0.9
Dec-71	-1.4
Mar-72	-0.2
Jun-72	1.1
Sep-72	1.6
Dec-72	2.2
Mar-73	2.0
Jun-73	1.6
Sep-73	0.3
Dec-73	0.4
Mar-74	-1.9
Jun-74	-3.5
Sep-74	-3.1
Dec-74	-2.5
Mar-75	-0.4
Jun-75	0.1
Sep-75	-1.1
Dec-75	-1.9
Mar-76	-1.8
Jun-76	-1.1
Sep-76	-1.2
Dec-76	-1.8
Mar-77	-3.0
Jun-77	-2.9
Sep-77	-3.1
Dec-77	-1.2
Mar-78	-3.0
Jun-78	-3.1
Sep-78	-3.7
Dec-78	-3.6
Mar-79	-2.0
Jun-79	-2.0
Sep-79	-1.8
Dec-79	-0.8
Mar-80	-1.0
Jun-80	-1.8
Sep-80	-3.8
Dec-80	-3.3
Mar-81	-2.9
Jun-81	-4.2
Sep-81	-4.2
Dec-81	-5.4
Mar-82	-5.5
Jun-82	-4.8
Sep-82	-3.5
Dec-82	-3.4
Mar-83	-3.6
Jun-83	-3.0
Sep-83	-3.7
Dec-83	-2.8
Mar-84	-4.0
Jun-84	-3.5
Sep-84	-4.4
Dec-84	-5.2
Mar-85	-4.1
Jun-85	-4.5
Sep-85	-5.6
Dec-85	-5.7
Mar-86	-6.0
Jun-86	-5.6
Sep-86	-4.8
Dec-86	-4.4
Mar-87	-4.1
Jun-87	-3.2
Sep-87	-3.3
Dec-87	-3.3
Mar-88	-3.1
Jun-88	-2.9
Sep-88	-4.0
Dec-88	-4.8
Mar-89	-5.7
Jun-89	-5.9
Sep-89	-6.3
Dec-89	-6.2
Mar-90	-6.2
Jun-90	-4.4
Sep-90	-4.1
Dec-90	-4.9
Mar-91	-3.9
Jun-91	-3.3
Sep-91	-3.2
Dec-91	-3.0
Mar-92	-3.0
Jun-92	-3.3
Sep-92	-3.8
Dec-92	-3.2
Mar-93	-2.9
Jun-93	-3.2
Sep-93	-3.3
Dec-93	-3.0
Mar-94	-2.8
Jun-94	-4.4
Sep-94	-5.6
Dec-94	-5.3
Mar-95	-5.9
Jun-95	-5.1
Sep-95	-4.4
Dec-95	-4.8
Mar-96	-4.1
Jun-96	-2.8
Sep-96	-3.9
Dec-96	-3.5
Mar-97	-3.0
Jun-97	-2.0
Sep-97	-3.2
Dec-97	-3.7
Mar-98	-5.0
Jun-98	-4.2
Sep-98	-5.6
Dec-98	-5.0
Mar-99	-5.7
Jun-99	-6.0
Sep-99	-5.7
Dec-99	-4.8
Mar-00	-5.0
Jun-00	-5.0
Sep-00	-3.2
Dec-00	-3.3
Mar-01	-2.6
Jun-01	-2.1
Sep-01	-1.7
Dec-01	-2.8
Mar-02	-2.6
Jun-02	-3.6
Sep-02	-4.0
Dec-02	-5.1
Mar-03	-5.0
Jun-03	-5.6
Sep-03	-5.4
Dec-03	-5.4
Mar-04	-5.8
Jun-04	-5.5
Sep-04	-6.6
Dec-04	-7.3
Mar-05	-6.5
Jun-05	-5.7
Sep-05	-6.0
Dec-05	-5.7
Mar-06	-5.6
Jun-06	-6.2
Sep-06	-5.7
Dec-06	-5.9
Mar-07	-6.2
Jun-07	-6.6
Sep-07	-6.8
Dec-07	-7.3
Mar-08	-6.8
Jun-08	-5.8
Sep-08	-4.0
Dec-08	-3.0
Mar-09	-1.5
Jun-09	-5.0
Sep-09	-5.3
Dec-09	-6.4
Mar-10	-5.5
Jun-10	-2.9
Sep-10	-3.0
Dec-10	-3.5
Mar-11	-3.4
Jun-11	-3.1
Sep-11	-2.7
Dec-11	-2.9
Mar-12	-4.7
Jun-12	-3.7
Sep-12	-4.3
Dec-12	-4.8
Mar-13	-3.5
Jun-13	-3.6
Sep-13	-3.7
Dec-13	-2.8
Mar-14	-2.7
Jun-14	-3.2
Sep-14	-3.4
Dec-14	-3.2
Mar-15	-3.3
Jun-15	-5.2
Sep-15	-5.0
Dec-15	-5.4
Mar-16	-4.5
Jun-16	-4.5
Sep-16	-3.6
Dec-16	-1.6
Mar-17	-2.3
Jun-17	-2.7
Sep-17	-2.9
Dec-17	-3.6
Mar-18	-3.1
Jun-18	-3.1
Sep-18	-2.4
Dec-18	-1.8
Mar-19	-1.3
Jun-19	0.2
Sep-19	0.9
Dec-19	-0.1
Mar-20	0.6
Jun-20	2.6
Sep-20	1.5
Dec-20	2.1
Mar-21	3.0
Jun-21	3.0
Sep-21	3.5
Dec-21	0.1
Mar-22	0.1
Jun-22	1.4
Sep-22	-0.6
Dec-22	0.6
Mar-23	0.4
Jun-23	-0.4
Sep-23	-1.1
Dec-23	-0.2
Mar-24	-1.4
Jun-24	-2.4
Sep-24	-2.1
Dec-24	-1.8

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted

["","Net lending \/ net borrowing relative to GDP"]

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2999999999999998],[-6.4000000000000004],[-5.5],[-2.8999999999999999],[-3],[-3.5],[-3.3999999999999999],[-3.1000000000000001],[-2.7000000000000002],[-2.8999999999999999],[-4.7000000000000002],[-3.7000000000000002],[-4.2999999999999998],[-4.7999999999999998],[-3.5],[-3.6000000000000001],[-3.7000000000000002],[-2.7999999999999998],[-2.7000000000000002],[-3.2000000000000002],[-3.3999999999999999],[-3.2000000000000002],[-3.2999999999999998],[-5.2000000000000002],[-5],[-5.4000000000000004],[-4.5],[-4.5],[-3.6000000000000001],[-1.6000000000000001],[-2.2999999999999998],[-2.7000000000000002],[-2.8999999999999999],[-3.6000000000000001],[-3.1000000000000001],[-3.1000000000000001],[-2.3999999999999999],[-1.8],[-1.3],[0.20000000000000001],[0.90000000000000002],[-0.10000000000000001],[0.59999999999999998],[2.6000000000000001],[1.5],[2.1000000000000001],[3],[3],[3.5],[0.10000000000000001],[0.10000000000000001],[1.3999999999999999],[-0.59999999999999998],[0.59999999999999998],[0.40000000000000002],[-0.40000000000000002],[-1.1000000000000001],[-0.20000000000000001],[-1.3999999999999999],[-2.3999999999999999],[-2.1000000000000001],[-1.8]]]

[]

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National net borrowing as a proportion of GDP decreased this quarter, driven by a rise in changes in inventories:

Financial corporations' net lending increased by $4.8b to $19.3b.
Non-financial corporations' net borrowing increased by $4.2b to $15.1b.
General government net borrowing increased by $3.8b to $27.2b.
Households' net lending increased by $1.6b to $6.6b.

Notable drivers included the following:

Financial corporations' net lending was driven by an increase in net savings due to increases in reinvested earnings and interest receivable.
Non-financial corporations' net borrowing was driven by an increase in changes in inventories from private non-financial corporations, including rises in retail trade, mining, and wholesale trade.
Households' net lending was driven by an increase in net savings and an increase in consumption of fixed capital.

Net lending (+) / borrowing (-), by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-11	-17.6	10.6	-19.4	15.5
Mar-12	-24.5	11.9	-14.2	11.0
Jun-12	-21.2	10.4	-19.0	13.3
Sep-12	-23.7	11.8	-13.6	6.7
Dec-12	-29.1	11.3	-11.6	9.8
Mar-13	-21.8	9.3	-14.1	12.0
Jun-13	-26.1	9.6	-4.3	10.8
Sep-13	-21.4	8.6	-12.0	9.8
Dec-13	-22.3	8.6	-11.4	11.5
Mar-14	-20.4	8.8	-12.3	11.7
Jun-14	-23.1	7.6	-8.6	13.6
Sep-14	-24.0	8.0	-10.2	10.8
Dec-14	-20.3	5.8	-10.6	10.3
Mar-15	-22.6	7.2	-8.3	9.0
Jun-15	-22.5	4.9	-7.1	10.8
Sep-15	-25.4	6.9	-7.3	7.4
Dec-15	-25.0	8.7	-7.2	3.4
Mar-16	-22.2	7.4	-10.8	3.1
Jun-16	-20.6	8.4	-11.6	4.0
Sep-16	-17.9	8.0	-11.2	3.8
Dec-16	-10.9	7.0	-5.8	1.8
Mar-17	-9.8	4.6	-2.9	1.8
Jun-17	-11.4	7.3	-8.0	0.4
Sep-17	-15.8	7.5	-5.9	0.5
Dec-17	-16.3	5.3	-6.7	2.9
Mar-18	-15.3	7.4	-6.2	1.7
Jun-18	-22.2	6.4	-4.4	0.7
Sep-18	-16.8	5.3	-5.7	2.8
Dec-18	-16.0	5.7	-7.6	6.2
Mar-19	-10.2	6.3	-8.1	9.4
Jun-19	-8.9	6.3	-5.3	8.2
Sep-19	-7.4	5.4	-11.7	15.8
Dec-19	-10.1	4.1	-12.0	13.4
Mar-20	-2.5	2.5	-14.7	22.3
Jun-20	23.3	12.2	-95.7	71.9
Sep-20	27.6	2.8	-85.9	62.0
Dec-20	14.6	1.0	-43.1	37.0
Mar-21	7.5	0.3	-26.4	37.0
Jun-21	1.1	1.4	-13.2	29.1
Sep-21	-6.8	4.3	-39.1	60.6
Dec-21	-7.3	-1.8	-26.9	33.6
Mar-22	1.6	-6.1	-20.3	29.5
Jun-22	4.2	1.4	-14.9	20.1
Sep-22	-7.9	7.0	-15.5	16.3
Dec-22	-25.6	9.5	-2.2	1.4
Mar-23	6.9	4.4	-5.0	0.2
Jun-23	-6.8	7.5	-8.4	-1.9
Sep-23	-9.1	10.9	-7.3	-3.4
Dec-23	-10.4	12.8	-12.7	3.8
Mar-24	-4.2	12.0	-14.5	0.7
Jun-24	-15.5	17.8	-20.0	1.2
Sep-24	-10.9	14.5	-23.4	5.0
Dec-24	-15.1	19.3	-27.2	6.6

Net lending (+) / borrowing (-), by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

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[]

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Capital Investment

National capital investment decreased to 24.7% as a proportion of GDP, while increasing 1.3% in current price seasonally adjusted terms.

Relative to GDP:

Household capital investment fell to 7.9%
Non-financial corporations' capital investment remained at 12.0%
Financial corporations' capital investment remained at 0.6%
General government capital investment fell to 4.1%

In current price seasonally adjusted terms:

Non-financial corporations' capital investment increased, driven by an increase in public non-financial corporations.
General government capital investment was flat, driven by an increase in national general government being offset by a decrease in state and local general government.

Gross fixed capital formation, by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-11	55.7	2.2	15.2	27.5
Mar-12	61.0	2.3	12.3	27.4
Jun-12	63.9	2.3	13.7	27.3
Sep-12	63.7	2.5	13.3	28.0
Dec-12	66.1	2.5	12.5	28.3
Mar-13	62.0	2.5	13.3	28.0
Jun-13	62.4	2.5	11.5	29.0
Sep-13	63.3	2.4	12.6	29.6
Dec-13	62.9	2.3	12.8	30.2
Mar-14	60.6	2.4	13.2	31.1
Jun-14	59.8	2.4	12.6	31.6
Sep-14	57.1	2.7	12.8	33.5
Dec-14	56.1	2.8	12.8	35.2
Mar-15	54.9	2.7	12.4	36.3
Jun-15	54.4	2.6	12.9	36.1
Sep-15	52.6	2.9	12.4	37.9
Dec-15	51.8	2.9	12.5	38.1
Mar-16	49.7	2.9	14.1	38.6
Jun-16	47.4	2.8	14.6	39.5
Sep-16	45.4	2.9	14.1	40.0
Dec-16	47.5	2.9	14.5	40.9
Mar-17	46.7	2.9	15.7	41.1
Jun-17	45.8	2.9	17.8	41.4
Sep-17	51.2	2.5	17.1	40.7
Dec-17	50.3	3.1	17.5	40.9
Mar-18	50.9	3.1	17.5	42.0
Jun-18	51.0	3.1	17.4	42.8
Sep-18	52.0	3.1	18.9	41.4
Dec-18	51.7	3.1	19.0	40.3
Mar-19	52.2	3.0	19.2	39.1
Jun-19	52.8	3.1	18.6	38.3
Sep-19	53.8	3.0	19.8	38.1
Dec-19	53.3	3.0	20.5	38.1
Mar-20	53.1	2.9	19.9	38.3
Jun-20	51.4	2.7	18.8	35.7
Sep-20	51.1	2.7	19.4	36.5
Dec-20	52.4	2.8	20.4	39.4
Mar-21	54.9	2.9	20.4	42.6
Jun-21	57.0	3.0	21.3	45.0
Sep-21	58.7	3.1	22.0	45.5
Dec-21	60.3	3.1	22.0	47.0
Mar-22	62.4	3.2	22.8	48.8
Jun-22	65.1	3.4	23.6	48.7
Sep-22	67.1	3.5	24.1	49.3
Dec-22	68.2	3.5	24.4	49.7
Mar-23	71.3	3.6	25.3	50.3
Jun-23	75.2	3.7	26.4	51.7
Sep-23	77.3	3.8	27.1	51.5
Dec-23	79.2	3.8	26.4	51.4
Mar-24	79.4	3.9	26.6	52.2
Jun-24	80.7	4.0	26.3	53.9
Sep-24	81.5	4.1	28.3	54.7
Dec-24	82.9	4.1	28.3	54.8

Gross fixed capital formation, by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

[["Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24"],[[55.700000000000003],[61],[63.899999999999999],[63.700000000000003],[66.099999999999994],[62],[62.399999999999999],[63.299999999999997],[62.899999999999999],[60.600000000000001],[59.799999999999997],[57.100000000000001],[56.100000000000001],[54.899999999999999],[54.399999999999999],[52.600000000000001],[51.799999999999997],[49.700000000000003],[47.399999999999999],[45.399999999999999],[47.5],[46.700000000000003],[45.799999999999997],[51.200000000000003],[50.299999999999997],[50.899999999999999],[51],[52],[51.700000000000003],[52.200000000000003],[52.799999999999997],[53.799999999999997],[53.299999999999997],[53.100000000000001],[51.399999999999999],[51.100000000000001],[52.399999999999999],[54.899999999999999],[57],[58.700000000000003],[60.299999999999997],[62.399999999999999],[65.099999999999994],[67.099999999999994],[68.200000000000003],[71.299999999999997],[75.200000000000003],[77.299999999999997],[79.200000000000003],[79.400000000000006],[80.700000000000003],[81.5],[82.900000000000006]],[[2.2000000000000002],[2.2999999999999998],[2.2999999999999998],[2.5],[2.5],[2.5],[2.5],[2.3999999999999999],[2.2999999999999998],[2.3999999999999999],[2.3999999999999999],[2.7000000000000002],[2.7999999999999998],[2.7000000000000002],[2.6000000000000001],[2.8999999999999999],[2.8999999999999999],[2.8999999999999999],[2.7999999999999998],[2.8999999999999999],[2.8999999999999999],[2.8999999999999999],[2.8999999999999999],[2.5],[3.1000000000000001],[3.1000000000000001],[3.1000000000000001],[3.1000000000000001],[3.1000000000000001],[3],[3.1000000000000001],[3],[3],[2.8999999999999999],[2.7000000000000002],[2.7000000000000002],[2.7999999999999998],[2.8999999999999999],[3],[3.1000000000000001],[3.1000000000000001],[3.2000000000000002],[3.3999999999999999],[3.5],[3.5],[3.6000000000000001],[3.7000000000000002],[3.7999999999999998],[3.7999999999999998],[3.8999999999999999],[4],[4.0999999999999996],[4.0999999999999996]],[[15.199999999999999],[12.300000000000001],[13.699999999999999],[13.300000000000001],[12.5],[13.300000000000001],[11.5],[12.6],[12.800000000000001],[13.199999999999999],[12.6],[12.800000000000001],[12.800000000000001],[12.4],[12.9],[12.4],[12.5],[14.1],[14.6],[14.1],[14.5],[15.699999999999999],[17.800000000000001],[17.100000000000001],[17.5],[17.5],[17.399999999999999],[18.899999999999999],[19],[19.199999999999999],[18.600000000000001],[19.800000000000001],[20.5],[19.899999999999999],[18.800000000000001],[19.399999999999999],[20.399999999999999],[20.399999999999999],[21.300000000000001],[22],[22],[22.800000000000001],[23.600000000000001],[24.100000000000001],[24.399999999999999],[25.300000000000001],[26.399999999999999],[27.100000000000001],[26.399999999999999],[26.600000000000001],[26.300000000000001],[28.300000000000001],[28.300000000000001]],[[27.5],[27.399999999999999],[27.300000000000001],[28],[28.300000000000001],[28],[29],[29.600000000000001],[30.199999999999999],[31.100000000000001],[31.600000000000001],[33.5],[35.200000000000003],[36.299999999999997],[36.100000000000001],[37.899999999999999],[38.100000000000001],[38.600000000000001],[39.5],[40],[40.899999999999999],[41.100000000000001],[41.399999999999999],[40.700000000000003],[40.899999999999999],[42],[42.799999999999997],[41.399999999999999],[40.299999999999997],[39.100000000000001],[38.299999999999997],[38.100000000000001],[38.100000000000001],[38.299999999999997],[35.700000000000003],[36.5],[39.399999999999999],[42.600000000000001],[45],[45.5],[47],[48.799999999999997],[48.700000000000003],[49.299999999999997],[49.700000000000003],[50.299999999999997],[51.700000000000003],[51.5],[51.399999999999999],[52.200000000000003],[53.899999999999999],[54.700000000000003],[54.799999999999997]]]

[]

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Data downloads

Download all (10.72 MB)

Time series spreadsheets

Data files

TABLE 1. Credit Market Outstandings ($ million)
Download xlsx [272.33 KB]
TABLE 2. Demand for Credit ($ million)
Download xlsx [254.18 KB]
TABLE 3. National Capital Account, Current prices ($ million)
Download xlsx [80.54 KB]
TABLE 4. National Financial Assets and Liabilities ($ million)
Download xlsx [105.24 KB]
TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [78.36 KB]
TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)
Download xlsx [383.53 KB]
TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [74.86 KB]
TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)
Download xlsx [379.06 KB]
TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)
Download xlsx [232.88 KB]
TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)
Download xlsx [383.84 KB]
TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [73.76 KB]
TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)
Download xlsx [267.22 KB]
TABLE 13. Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [73.63 KB]
TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)
Download xlsx [355.73 KB]
TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)
Download xlsx [163.86 KB]
TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)
Download xlsx [490.7 KB]
TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)
Download xlsx [319.89 KB]
TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)
Download xlsx [225.53 KB]
TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)
Download xlsx [71.5 KB]
TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)
Download xlsx [299.61 KB]
TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)
Download xlsx [297.33 KB]
TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)
Download xlsx [144.45 KB]
TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)
Download xlsx [277.63 KB]
TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)
Download xlsx [262.8 KB]
TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)
Download xlsx [205.12 KB]
TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)
Download xlsx [321.83 KB]
TABLE 27. General Government Capital Account, Current prices ($ million)
Download xlsx [77.8 KB]
TABLE 28. Financial Assets and Liabilities of General Government ($ million)
Download xlsx [305.56 KB]
TABLE 29. National General Government Capital Account, Current prices ($ million)
Download xlsx [77.12 KB]
TABLE 30. Financial Assets and Liabilities of National General Government ($ million)
Download xlsx [281.95 KB]
TABLE 31. State and Local General Government Capital Account, Current prices ($ million)
Download xlsx [77.18 KB]
TABLE 32. Financial Assets and Liabilities of State and Local General Government ($ million)
Download xlsx [192.75 KB]
TABLE 33. Household Capital Account, Current prices ($ million)
Download xlsx [77.18 KB]
TABLE 34. Financial Assets and Liabilities of Households ($ million)
Download xlsx [256.2 KB]
TABLE 35. Household Balance Sheet, Current prices ($ billion)
Download xlsx [80.4 KB]
TABLE 36. Analytical Measures of Household Income, Consumption, Saving and Wealth, Current prices ($ billion)
Download xlsx [67.17 KB]
TABLE 37. Rest of World Capital Account, Current prices ($ million)
Download xlsx [66.35 KB]
TABLE 38. Financial Assets and Liabilities of Rest of World ($ million)
Download xlsx [461.36 KB]
TABLE 39. The Currency Market ($ million)
Download xlsx [80.59 KB]
TABLE 40. The Transferable Deposits Market ($ million)
Download xlsx [115.78 KB]
TABLE 41. The Other Deposits Market ($ million)
Download xlsx [126.4 KB]
TABLE 42. The Bills of Exchange Market ($ million)
Download xlsx [106.03 KB]
TABLE 43. The One Name Paper Market ($ million)
Download xlsx [366.38 KB]
TABLE 44. The Bonds Market ($ million)
Download xlsx [467.54 KB]
TABLE 45. The Derivatives and Employee Stock Options Market ($ million)
Download xlsx [190.76 KB]
TABLE 46. The Short Term Loans and Placements Market ($ million)
Download xlsx [157.61 KB]
TABLE 47. The Long Term Loans and Placements Market ($ million)
Download xlsx [357.99 KB]
TABLE 48. The Listed Shares and Other Equity Market ($ million)
Download xlsx [258.12 KB]
TABLE 49. The Unlisted Shares and Other Equity Market ($ million)
Download xlsx [325.05 KB]
TABLE 50. Accounts Payable/Receivable ($ million)
Download xlsx [394.02 KB]
TABLE 51. Financial Accounts Summary of Authorised Deposit taking Institution Deposits and Lending Split by Household Subsectors ($ million)
Download xlsx [56.26 KB]
TABLE 52. Financial Accounts Summary of Loan Outstandings to Households for Housing by Type of Lending Institution ($ million)
Download xlsx [57 KB]
TABLE 53. Nominal Value of Short Term Loans and Placements Market ($ million)
Download xlsx [157.26 KB]
TABLE 54. Nominal Value of Long Term Loans and Placements Market ($ million)
Download xlsx [359.74 KB]

Previous catalogue number

This release previously used catalogue number 5232.0

Revisions and changes

Revisions in this issue

There have been revisions to previously published aggregates due to:

Quality assurance reviews affecting the published aggregates after December quarter 2022, in addition to amendments to data collected in the ABS Survey of Financial Information, ABS Survey of International Investment and to data derived from Australian Prudential Regulation Authority (APRA) administrative data sets.

AASB 17 accounting standard

The adoption of the AASB 17 accounting standard by the insurance industry has resulted in changes to reported data. Consequently, some of the estimates for life insurance corporations since the September quarter 2023 have been modelled. While these series continue to be published, users are advised to apply caution. The ABS is working with data providers to resolve these issues as quickly as possible.

ABS Managed Funds publication

Following the conclusion of consultation with users and industry, the ABS has taken the decision to pause the ABS Managed Funds publication following the release of the December quarter 2023 issue. ABS survey data on public offer unit trusts will continue to be used in the compilation of associated sectors in the National Accounts: Finance and Wealth publication (tables 9 and 23). In this publication, adjustments are made to these sectors to account for scope and coverage, based on other counterparty information, though some underlying quality issues remain. Users are advised to apply caution when using these statistics and use the methodology and data quality notes when referencing any data points. For additional information please see the December quarter 2023 Managed Funds publication.

Methodology

Australian National Accounts: Finance and Wealth methodology, December 2024

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APA

Australian National Accounts: Finance and Wealth

APA

Key statistics

Main features

Financing resources and investment tables

Financial market summary table

Flow of funds diagrams

Net transactions during December quarter 2024

Amounts outstanding at end of December quarter 2024

National investment

Financial investment

Households

General government

Demand for credit

Demand for credit table

Other private non-financial corporations

General government

Households

Households

Balance sheet

Financial assets

Liabilities

Non-financial assets

Financial assets

Liabilities

Private non-financial corporations

Financial assets

Liabilities

Other private non-financial corporations demand for credit

Financial corporations

Financial assets and liabilities

Authorised deposit-taking institutions (ADIs)

Financial assets

Liabilities

Pension (superannuation) funds

Financial assets

Liabilities

Government

National general government financial assets

National general government liabilities

State and local general government financial assets

State and local general government liabilities

General government

Capital investment

Net lending (+) / borrowing (-)

Capital Investment

Data downloads

Time series spreadsheets

TABLE 1. Credit Market Outstandings ($ million)

TABLE 2. Demand for Credit ($ million)

TABLE 3. National Capital Account, Current prices ($ million)

TABLE 4. National Financial Assets and Liabilities ($ million)

TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)

TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)

TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)

TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)

TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)

TABLE 13. Financial Corporations Capital Account, Current prices ($ million)

TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)

TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)

TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)

TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)

TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)

TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)

TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)

TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)

TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)

TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)

TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)

TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)

TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)

TABLE 27. General Government Capital Account, Current prices ($ million)

TABLE 28. Financial Assets and Liabilities of General Government ($ million)

TABLE 29. National General Government Capital Account, Current prices ($ million)

TABLE 30. Financial Assets and Liabilities of National General Government ($ million)

TABLE 31. State and Local General Government Capital Account, Current prices ($ million)