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5232.0 - Australian National Accounts: Financial Accounts, Jun 2008  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 26/09/2008   
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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
Mar Qtr 2008
Jun Qtr 2008
Jun Qtr 2008
Jun Qtr 2008
Selected Financial Instruments
$b
$b
$b
$b

Currency and deposits
1 269.6
53.9
16.4
1 340.0
Short term debt securities
643.1
-5.3
-12.1
625.8
Long term debt securities
986.3
34.7
-27.7
993.4
Derivatives
307.2
6.3
17.6
331.1
Loans and placements
2 687.7
46.2
2.9
2 736.8
Listed shares
1 371.4
-9.6
-19.1
1 342.8
Unlisted shares
1 166.1
16.2
-25.5
1 156.8
Reserves of life offices and pension funds
1 133.1
23.9
-22.6
1 134.3
General insurance prepayments and reserves
68.2
0.5
0.0
68.8


Deposit liabilities increased to $1,340.0b at the end of June 2008, following transactions of $53.9b during the quarter compared with revised transactions of $41.6b in the previous quarter. The major contributors were banks which accepted $30.7b (up $18.5b on that accepted last quarter) and other depository corporations which accepted $1.6b. Domestic sectors deposited a net $6.1b with the rest of the world, of which deposits by banks were $4.4b and private non-financial corporations were $1.4b.

Short term security liabilities decreased by $17.5b to $625.7b at the end of June 2008. There were net redemptions of $5.2b, comprising $4.3b in issues of bills of exchange and $9.5b in redemptions of one name paper. Total long term debt security liabilities increased to $993.4b, following net issuance of $34.7b. Banks issued bonds worth net $19.4b, of which $10.0b were issued domestically and $9.4b issued offshore. Financial intermediaries n.e.c. had net redemptions of $6.0b, of which $4.5b were redeemed domestically. Private non-financial corporations, central borrowing authorities and national general government issued net $6.1b, $5.6b and $1.8b respectively.

The value of derivative contracts on issue increased by $23.9b to $331.1b. Components of the increase were net issuances of $6.3b and valuation increases of $17.6b.

Loan liabilities rose by $49.1b to $2,736.8b at the end of June 2008, following transactions of $46.2b. Households borrowed $30.1b, rest of the world, $3.9b, state and local public non-financial corporations, $3.8b and private non-financial corporations repaid $3.3b.

The listed share market decreased by $28.6b to $1,342.8b at the end of June 2008, with valuation decreases of $19.0b and buy-backs of $9.6b. Private non-financial corporations issued $8.1b, banks issued $1.5b and financial Intermediaries n.e.c. bought back $19.5b. The value of the unlisted share market decreased by $9.3b to $1,156.8b at the end of June 2008, with issues of $16.2b and valuation decreases of $25.5b. Rest of world issued $8.1b and private non-financial corporations issued $7.5b.

At the end of June 2008, the reserves of life offices and pension funds were $1,134.3b following transactions during the quarter of $23.9b and valuation decreases of $22.6b. General insurance prepayments and reserves were $68.8b.

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