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5232.0 - Australian National Accounts: Financial Accounts, Dec 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 28/03/2008   
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ANALYSIS AND COMMENTS MARKET SUMMARY


FINANCIAL MARKET SUMMARY

Selected Financial Instruments

Outstanding
at end
Trans- actions
during
Other changes
during
Outstanding
at end
Sep Qtr 2007
Dec Qtr 2007
Dec Qtr 2007
Dec Qtr 2007
Selected Financial Instruments
$b
$b
$b
$b

Currency and deposits
1 230.2
-31.6
1.5
1 200.1
Short term debt securities
592.1
39.9
0.3
632.3
Long term debt securities
960.6
-8.1
3.1
955.6
Derivatives
261.3
-61.2
17.8
217.9
Loans and placements
2 666.5
64.1
3.7
2 734.4
Listed shares
1 656.7
0.7
-28.5
1 628.8
Unlisted shares
1 186.1
17.1
-50.6
1 152.7
Reserves of life offices and pension funds
1 205.1
12.0
-16.0
1 201.2
General insurance prepayments and reserves
67.8
-0.5
0.0
67.3


Deposit liabilities decreased to $1,200.1b at the end of December 2007, following transactions of -$31.6b during the quarter. Banks accepted $28.1b (down $8.6b on that accepted last quarter), there were withdrawals of net $8.7b of deposits accepted by other depository corporations, and domestic sectors withdrew a net $18.6b from the rest of the world. Central bank deposit transactions were -$32.4b during the quarter, mainly driven by the withdrawal of $41.1b by the national general government.


Short term security liabilities increased to $632.3b at the end of December 2007. There were net issues of $39.8b, comprising $5.4b in issues of bills of exchange and $34.4b in one name paper. Total long term debt security liabilities decreased to $955.6b, following net redemptions of $8.1b in domestic markets. Banks issued bonds worth net $14.6b, of which $5.0b was issued domestically and $9.5b offshore. Financial intermediaries n.e.c. redeemed $14.9b, of which $8.4b was in the domestic market and $6.5b offshore. Private non-financial corporations redeemed $4.0b and the rest of world redeemed $4.2b.


The value of derivative contracts on issue decreased by $43.4b to $217.9b. Components of the decrease were net settlements of $61.2b and valuation increases of $17.8b.


Loan liabilities rose to $2,734.4b at the end of December 2007, following transactions of $64.1b during the quarter. Households borrowed $31.2b, banks $19.3b and private non-financial corporations $17.4b. The net repayments by financial intermediaries n.e.c in the quarter amounted to $7.5b.


The listed share market decreased by $27.9b to $1,628.8b at the end of December 2007, with valuation decreases of $28.6b and issues of $0.7b. Banks issued $5.0b and financial Intermediaries n.e.c. $3.0b. Private non-financial corporations redeemed $7.5b. The value of the unlisted share market decreased by $33.4b to $1,152.7b at the end of December 2007, with issues of $17.1b and valuation decreases of $50.5b. Rest of world issued $9.1b and private non-financial corporations issued $4.9b during the quarter.


At the end of December 2007, the reserves of life offices and pension funds were $1,201.2b following transactions during the quarter of $12.0b and valuation decrease of $16.0b. General insurance prepayments and reserves were $67.3b.


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