Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Release Date
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
1301.0 - Year Book Australia, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003   
   Page tools: Print Print Page RSS Feed RSS Bookmark and Share Search this Product  
Contents >> Financial System >> Financial enterprises

Financial enterprises are institutions which engage in acquiring financial assets and incurring liabilities, for example, by taking deposits, borrowing and lending, providing superannuation, supplying all types of insurance cover, leasing, and investing in financial assets.

For national accounting purposes, financial enterprises are grouped into six sectors: Depository corporations; Life insurance corporations; Pension funds; Other insurance corporations; Central borrowing authorities; and Financial intermediaries n.e.c.

Depository corporations - are those included in the Reserve Bank of Australia's broad money measure (see Money supply measures). The Reserve Bank itself is a depository corporation; authorised depository institutions are those supervised by APRA and include banks, building societies and credit unions; non-supervised depository corporations registered under the Financial Statistics (Collection of Data) Act 2001 (Cwlth) include merchant banks, pastoral finance companies, finance companies and general financiers; finally cash management trusts are also included in depository corporations.

Life insurance corporations - cover the statutory and shareholders' funds of life insurance companies and similar businesses undertaken by friendly societies and long-service-leave boards.

Pension funds - cover separately constituted superannuation funds.

Other insurance corporations - cover health, export and general insurance companies.

Central borrowing authorities - are corporations set up by state and territory governments to provide liability and asset management services for those governments.

Financial intermediaries n.e.c. - cover common funds, mortgage, fixed interest and equity unit trusts, issuers of asset-backed securities, economic development corporations and cooperative housing societies.

Table 26.2 shows the relative size of these groups of financial enterprises in terms of their financial assets. This table has been compiled on a consolidated basis, that is, financial claims between institutions in the same grouping have been eliminated. The total is also consolidated, that is, financial claims between the groupings have been eliminated. For this reason, and because there are a number of less significant adjustments made for national accounting purposes, the statistics in the summary table will differ from those presented later in this section and published elsewhere.


26.2 FINANCIAL INSTITUTIONS, Financial assets

Depository corporations

Reserve Bank
Banks
Other
Life insurance corporations
Pension funds
Other insurance corporations
Central borrowing authorities
Financial intermediaries n.e.c.
Consolidated financial
sector total
At 30 June
$b
$b
$b
$b
$b
$b
$b
$b
$b

1997
49.1
519.6
156.2
143.7
256.7
52.6
92.0
114.3
1,021.7
1998
45.1
584.1
172.0
148.9
300.4
62.9
96.2
161.7
1,135.0
1999
44.6
637.9
179.5
168.8
345.5
65.8
97.0
163.3
1,212.6
2000
51.1
725.6
189.9
190.5
425.3
65.3
91.3
214.8
1,394.4
2001
56.0
800.0
223.1
193.1
459.1
70.3
91.8
230.5
1,501.3
2002
56.8
866.0
239.0
191.8
453.4
74.9
94.5
250.9
1,588.1

Source: Australian National Accounts: Financial Accounts (5232.0).


Previous PageNext Page


Bookmark and Share. Opens in a new window


Commonwealth of Australia 2014

Unless otherwise noted, content on this website is licensed under a Creative Commons Attribution 2.5 Australia Licence together with any terms, conditions and exclusions as set out in the website Copyright notice. For permission to do anything beyond the scope of this licence and copyright terms contact us.