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5232.0 - Australian National Accounts: Financial Accounts, Mar 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 29/06/2007   
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MARCH KEY FIGURES

Credit market
outstandings
at end
Demand for
credit during
Other changes
during
Credit market
outstandings
at end
Dec Qtr 2006
Mar Qtr 2007
Mar Qtr 2007
Mar Qtr 2007
Non-financial
domestic sectors
$b
$b
$b
$b

Non-financial corporations
Private
1 702.4
39.9
90.6
1 832.8
National public
58.9
-0.1
-57.4
1.4
State and local public
49.4
1.0
0.0
50.4
General government
National
59.5
-1.8
0.6
58.2
State and local
33.3
-0.9
0.0
32.4
Households
1 070.3
21.9
0.0
1 092.2
Total
2 973.9
59.9
33.7
3 067.5

Total demand for credit
Graph: Total demand for credit

Credit market outstandings
Graph: Credit market oustandings



MARCH KEY POINTS


SUMMARY

  • Total demand for credit by the non-financial domestic sectors for the March quarter 2007 was $59.9b, a decrease of $18.5b on the previous quarter estimate.


NON-FINANCIAL CORPORATIONS
  • Private non-financial corporations raised a net $39.9b (down $0.6b), with equity raisings of $15.3b (up $2.9b) and loans of $13.4b (down $3.3b).


GENERAL GOVERNMENT
  • National general government reduced their liabilities to the market during the March quarter by a net $1.8b, driven by the maturity of bonds worth $1.7b during the quarter. State and local general government also reduced their market liabilities during the quarter by a net $0.9b through the repayment of loans.


HOUSEHOLDS
  • Households raised a net $21.9b during the March quarter 2007, down from the December quarter estimate of $27.2b. Households borrowed $13.9b from banks (of which $5.2b was for owner-occupied housing and $3.0b for investment housing) and $5.2b from Financial intermediaries n.e.c. (up $2.6b).


NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
June 2007 28 September 2007
September 2007 21 December 2007
December 2007 28 March 2008



CHANGES TO THIS ISSUE

Telstra was effectively privatised on 20 November 2006. For the purposes of ABS statistics this change from public to private sector is effective from March quarter 2007. The classification of Telstra has changed from public sector non-financial corporation to private sector non-financial corporation for the March quarter 2007.


As documented in the significant events for the December quarter 2006 release of this publication, as part of the privatisation process, investors in the Telstra 3 share offer were issued with a security known as an instalment receipt. The impacts that arise from the issuance of the instalment receipts by the trust, which are traded separately from Telstra shares, are reflected in the December quarter 2006 issue of this publication. Until payment of the final instalment, the shares will be held in trust with Telstra Sale Company Ltd being the trustee. The ABS treats the trust established to hold the Telstra shares as a statistical unit in its own right, until the final instalment payment in May 2008, and is classified to the financial intermediary n.e.c. subsector.


For more information please see ABS Information Paper 'Future Treatment of Telstra in ABS Statistics, 2007' (cat. no. 8102.0) released on 26 February 2007.



SIGNIFICANT EVENTS

With the exception of the privatisation of Telstra noted above, there were no other significant privatisations or structural changes impacting the aggregates this quarter.



REVISIONS IN THIS ISSUE

There have been significant revisions to previously published aggregates through:

  • quality assurance work undertaken with providers of the ABS Survey of Financial Information, ABS Survey of International Investment and APRA administration data sets, these resulted in revisions back to March 2005
  • reclassification of assets due to reporting changes by several registered financial corporations, this has resulted in breaks in series to currency assets and liabilities and loan assets of other depository corporations.


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Steve Whennan on Canberra (02) 6252 6711.

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