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5232.0.55.001 - Assets and Liabilities of Australian Securitisers, Dec 2007  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 26/02/2008   
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NOTES

FORTHCOMING ISSUES

ISSUE (QUARTER) Release Date
March 2008 27 May 2008
June 2008 26 August 2008



REVISIONS IN THIS ISSUE

Incorporation of the latest survey data has resulted in revisions to estimates for September quarter 2007. Revisions were made to Other liabilities residents and Other liabilities non-residents.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Philip Beresford on Canberra (02) 6252 6052.



SUMMARY COMMENTARY


KEY FIGURES

Securitisers, Australia - Assets and Liabilities

Sep Qtr 2007
Dec Qtr 2007
% change Sep Qtr 2007 to Dec Qtr 2007
$m
$m
%

Total assets at end of qtr
272 446
260 404
-4.4
of which
Mortgages
Residential
202 995
189 262
-6.8
Non-residential
10 319
10 105
-2.1
Total liabilities at end of qtr
272 446
260 404
-4.4
of which
Asset backed Securities
Issued domestically
169 582
166 084
-2.1
Issued off shore
84 542
78 557
-7.1



Assets of Securitisers

At the end of the December quarter 2007, total assets of Australian securitisers were $260.4b, down $12.0b (4.4%) on the September quarter 2007 total, falling for the second consecutive quarter. The falls recorded in September and December quarters 2007 were the first recorded since June quarter 1995.

PERCENTAGE CHANGE IN TOTAL ASSETS, from previous quarter
Graph: Percentage Change In Total Assets, from previous quarter



Mortgage assets, which accounted for 76.6% of total assets, were $199.4b at 31 December 2007, a decrease of $13.9b (6.5%) during the quarter.


During the December quarter 2007, Residential mortgages decreased by $13.7b (6.8%) , while Loans other increased $1.3b (7.8%).

NET ACQUISITION OF MORTGAGES DURING QUARTER
Graph: Net acquisition of mortgages during quarter




Liabilities of Securitisers

The decrease of $12.0b in total liabilities during the December quarter 2007 was due to a decrease in Long term asset backed securities issued in Australia (down $10.2b, 7.9%), asset backed securities issued overseas (down $6.0b, 7.1%) and Other liabilities non-residents (down $2.9b, 48.4%), while Short term asset backed securities issued in Australia increased (up $6.7b, 17.2%).


The slowing of debt issuance and fall in liabilities is a consequence of events in the sub-prime mortgage markets, which have decreased investor demand for securities backed by mortgages.

CHANGE IN ASSET BACKED SECURITIES, from previous quarter
Graph: Change in Asset Backed Securities, from previous quarter



Asset backed securities issued overseas fell to 30.2% of total liabilities in the December quarter 2007, down 0.9 percentage points on September quarter 2007.


Asset backed securities issued domestically increased to 63.8% of total liabilities, up 1.5 percentage points on September quarter 2007.

ASSET BACKED SECURITIES, (percentage of total liabilities)
Graph: Asset Backed Securities, (percentage of total liabilities)


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