Australian Bureau of Statistics

Rate the ABS website
ABS Home > Statistics > By Catalogue Number
ABS @ Facebook ABS @ Twitter ABS RSS ABS Email notification service
1301.0 - Year Book Australia, 2012  
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 24/05/2012   
   Page tools: Print Print Page RSS Feed RSS Bookmark and Share Search this Product

Financial system

FINANCIAL ENTERPRISES

Financial enterprises are institutions that 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 the following sectors:

  • Depository corporations – include the Reserve Bank; authorised depository institutions supervised by APRA, including banks, building societies and credit unions; and non-supervised depository corporations registered under the Financial Sector (Collection of Data) Act 2001 (Cwlth), including merchant banks, pastoral finance companies, finance companies and general financiers.
  • Pension funds – cover separately constituted superannuation funds.
  • Life insurance corporations – cover the statutory and shareholders’ funds of life insurance companies, and similar activities undertaken by friendly societies and long-service leave boards.
  • Non-life insurance corporations – cover health, general insurance and motor vehicle insurance companies.
  • Financial investment funds – there are two types of financial investment funds, money market funds and non-money market funds. They cover common funds, cash management trusts, listed and unlisted equity trusts (domestic and international), unlisted mortgage trusts, listed investment companies, wholesale (master) trusts and other trusts (diversified holdings).
  • Central borrowing authorities – are captive financial institutions set up by state governments and the Northern Territory Government to provide financial liability and asset management services for those governments.
  • Securitisers – are financial institutions that pool various types of assets, such as residential mortgages, and package them as collateral backing for bonds or short-term debt securities, referred to as asset-backed securities, which are then sold to investors.
  • Other financial corporations – include other financial intermediaries, financial auxiliaries, money lenders and other captive financial institutions.

Table 27.2 shows the relative size of these sectors 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 chapter and published elsewhere.


27.2 FINANCIAL INSTITUTIONS, Financial assets30 June
Depository corporations
Financial investment funds

Reserve Bank
Banks
Other
Pension funds
Life insurance corporations
Other insurance corporations
Money market financial investment funds
Non-money market financial investment funds
Central borrowing authorities
Securitisers
Other financial corporations
Consolidated financial sector total
$b
$b
$b
$b
$b
$b
$b
$b
$b
$b
$b
$b

2006
96.4
1 419.5
233.6
827.4
229.7
112.5
42.1
286.1
114.3
198.5
115.4
2 584.9
2007
119.2
1 661.8
293.3
1 079.7
256.0
139.6
53.7
340.6
132.5
248.0
179.0
3 137.8
2008
113.0
2 000.7
337.2
1 010.5
233.2
132.2
54.1
299.0
156.2
267.6
161.0
3 301.5
2009
99.2
2 133.4
331.1
915.8
212.4
129.2
46.0
259.6
210.9
313.0
104.3
3 272.5
2010
81.5
2 251.1
296.8
1 030.3
228.8
128.0
34.4
278.7
242.8
276.4
102.5
3 434.9
2011
73.7
2 358.7
299.9
1 134.1
238.8
143.0
22.9
292.1
265.7
272.1
101.3
3 644.1

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


BANKS

Between 1940 and 1959, central banking business was the responsibility of the Commonwealth Bank. The Reserve Bank Act 1959 (Cwlth) established the Reserve Bank of Australia (RBA) as the central bank, and from 1959 to 1998, the Reserve Bank was responsible for the supervision of commercial banks. From 1 July 1998, APRA assumed responsibility for bank supervision, while the Reserve Bank retained responsibility for monetary policy and the maintenance of financial stability, including stability of the payments system. The RBA also has responsibility for issuing banknote currency, holding Australia's international reserves, holding reserve deposits and providing banking services to the Australian Government. The liabilities and financial assets of the RBA are set out in table 27.3.


27.3 RESERVE BANK OF AUSTRALIA, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Monetary gold and SDRs(a)
3 172
9 110
8 200
Currency
3
2
2
Deposits
12 927
6 650
12 311
Bills of exchange
266
75
64
One name paper
10 969
10 815
6 430
Bonds
71 061
53 731
45 480
Derivatives
Loans and placements
8
7
6
Other accounts receivable
223
245
425
Total
98 629
80 635
72 918

LIABILITIES
Currency
50 051
48 752
48 082
Deposits
17 434
20 659
33 683
Derivatives
Unlisted shares and other equity(b)
11 964
9 685
5 336
Other
6 838
2 295
2 150
Total
86 287
81 391
89 251

— nil or rounded to zero (including null cells)
(a) Special Drawing Rights.
(b) Estimates based on net asset values.
Source: Australian National Accounts: Financial Accounts (5232.0).


Banks are the largest deposit-taking and financial institutions in Australia. At the end of June 2010, there were 55 banks operating in Australia. All are authorised to operate by the Banking Act 1959 (Cwlth). The four major banks account for nearly three-quarters of the total assets of all banks and provide wide spread banking services and an extensive retail branch network. The remaining banks provide similar banking services through limited branch networks, often located in particular regions. At 30 June 2011, banking services were provided at 30,154 Automatic Teller Machines (ATMs) throughout Australia. The liabilities and financial assets of the banks operating in Australia are shown in table 27.4.


27.4 BANKS(a), Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
5 942
5 687
5 728
Deposits
137 535
134 493
139 801
Acceptance of bills of exchange
149 799
139 485
127 428
One name paper
14 169
13 890
24 317
Bonds
194 787
228 749
255 464
Derivatives
136 964
130 396
113 552
Loans and placements
1 373 635
1 485 819
1 592 612
Equities
105 306
107 719
101 392
Prepayments of premiums and reserves
2 199
2 331
2 580
Other accounts receivable
2 941
2 492
6 013
Total
2 123 277
2 251 061
2 368 887

LIABILITIES
Deposits
1 287 893
1 154 293
1 064 519
Acceptance of bills of exchange
36 842
23 906
12 636
One name paper
159 920
138 054
124 723
Bonds
100 413
110 950
115 892
Derivatives
134 512
125 471
109 494
Loans and placements
110 401
100 777
99 135
Equity
240 617
292 503
302 326
Other accounts payable
11 684
10 090
8 855
Total
2 082 282
1 956 044
1 837 580

(a) Does not include the Reserve Bank of Australia.
Source: Australian National Accounts: Financial Accounts (5232.0).


OTHER DEPOSITORY CORPORATIONS

Other depository corporations include building societies, credit co-operatives, money market corporations and other registered financial corporations.

The Financial Corporations Act 1974 (Cwlth) ceased on 1 July 2002. Corporations previously subject to the Act were then required to report statistical data to APRA as Registered Financial Corporations. From 31 March 2003, following changes to the Financial Sector (Collection of Data) Act 2001 (Cwlth), only the following categories of other depository corporations are required to report to APRA:
  • Permanent building societies are usually organised as financial co-operatives. They are authorised to accept money on deposit. They provide finance principally in the form of housing loans to their members.
  • Credit co-operatives, also known as credit unions, are similar to building societies. As their name implies, they are organised as financial co-operatives that borrow from, and provide finance to, their members.
  • Money market corporations operate similar to wholesale banks and for this reason they are often referred to as merchant or investment banks. They have substantial short-term borrowings, which they use to fund business loans and investments in debt securities.
  • Other registered financial corporations cover pastoral finance companies, finance companies and general financiers categories. These corporations engage in a variety of borrowing and lending activity.

Table 27.5 shows the total assets of each category of non-bank deposit-taking institution.


27.5 OTHER DEPOSITORY CORPORATIONS, Total assets
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

Permanent building societies
21 504
23 681
26 404
Credit co-operatives
46 543
49 988
56 632
Money market corporations
94 512
64 750
66 723
Other registered financial corporations
121 119
103 880
104 515
Total
283 678
242 299
254 274

Source: Managed Funds, Australia (5655.0); APRA; Reserve Bank of Australia.


PENSION FUNDS

Pension funds have been established to provide retirement benefits for their members, who make contributions during their employment and receive the benefits of this form of saving in retirement. There are two basic types of contribution – employer contributions in the form of the superannuation guarantee and voluntary member contributions. In order to receive concessional taxation treatment, a pension fund must elect to be regulated under the Superannuation Industry (Supervision) Act 1993 (Cwlth) (SIS Act).

Pension funds are supervised by either APRA or the ATO. Some public sector funds are exempt from direct APRA supervision, but are required to report to APRA under an agreement between the Australian Government and each of the state and territory governments.

The largest group of pension funds, in terms of number and value, is self-managed superannuation funds. From 1 July 2000, the ATO assumed responsibility for their regulation. Self-managed superannuation funds have fewer than five members, generally all of whom are trustees, or directors of a company that is a trustee.

Corporate funds are established for the benefit of employees of a particular entity or a group of related entities, with joint member and employer control. Industry funds generally have closed memberships restricted to the employees of a particular industry and are established under an agreement between the parties to an industrial award.

Public sector funds provide benefits for government employees, or are schemes established by a Commonwealth, state or territory law. Retail funds offer superannuation products to the public on a commercial basis. All eligible roll-over funds and multi-member approved deposit funds are also classified as retail funds. Superannuation funds regulated by APRA with fewer than five members and an Extended Public Offer Entity Licensee are known as small APRA funds.

In addition to separately constituted funds, the SIS Act also provides for special accounts operated by financial institutions earmarked for superannuation contributions, known as Retirement Savings Accounts, that also qualify for concessional taxation and are under the supervision of APRA. The liabilities represented by these accounts are liabilities of the institutions concerned and are included with the relevant institution in this chapter (e.g. retirement savings accounts operated by banks are included in bank deposits in table 27.4).

The number of pension funds is shown in table 27.6. The assets of pension funds are shown in table 27.7. The financial assets in the table do not separately identify any provision for the pension liabilities of governments to public sector employees in respect of unfunded retirement benefits. These pension liabilities are recorded in the government accounts. At 30 June 2011, the ABS estimate for claims by households on governments for these outstanding liabilities was $262.6 billion.


27.6 PENSION FUNDS30 June
Number of entities
Type of fund
2009
2010
2011

Corporate
190
168
143
Industry
67
65
61
Public sector
40
39
39
Retail
166
154
143
Small funds(a)
406 318
427 825
460 082
Pooled superannuation trusts
82
79
77
Total
406 863
428 330
460 545

(a) Small funds include small APRA funds, single member approved deposit funds and self-managed superannuation funds.
Source: Australian Prudential Regulation Authority.

27.7 PENSION FUNDS, Financial assets
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
445
583
542
Deposits
141 649
156 016
172 422
Bills of exchange
4 496
2 894
787
One name paper
24 602
45 743
38 179
Bonds
101 816
109 827
113 496
Derivatives
482
263
410
Loans and placements
6 662
8 219
8 154
Equities
475 508
533 300
619 338
Unfunded superannuation claims
29
31
39
Net equity of pension funds in life office reserves
146 372
159 303
164 222
Other accounts receivable
13 765
14 157
16 543
Total
915 826
1 030 336
1 134 132

LIABILITIES
Long-term loans and placements
767
664
393
Listed shares and other equity
10
Net equity in reserves
975 831
1 095 244
1 205 032
Other accounts payable
4 497
4 924
5 436
Total
981 105
1 100 832
1 210 861

— nil or rounded to zero (including null cells)

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


LIFE INSURANCE CORPORATIONS

Life insurance corporations offer termination insurance and investment policies. Termination insurance includes the payment of a sum of money on the death or permanent disability of the insured. Investment products include annuities and superannuation plans. The life insurance industry in Australia consists of 31 direct insurers, including six reinsurers. As with the banking industry, the life insurance industry is dominated by a few very large companies, which hold a majority of the industry's assets.

Life insurance companies are supervised by APRA under the Life Insurance Act 1995 (Cwlth). APRA also regulates 14 friendly societies, which offer services similar to life insurance corporations.

Table 27.8 shows the financial assets and liabilities arising from both policyholder and shareholder investment in life insurance corporations and friendly societies.


27.8 LIFE INSURANCE CORPORATIONS(a), Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
6
Deposits
8 444
7 639
8 557
Bills of exchange
3 160
1 167
602
One name paper
8 335
9 836
7 147
Bonds
23 794
25 912
24 720
Derivatives
3 821
2 092
3 976
Loans and placements
3 814
3 701
3 584
Equities
157 603
175 253
186 723
Other accounts receivable
2 662
2 263
2 456
Total
211 639
227 863
237 765

LIABILITIES
Bills of exchange
5
3
4
Bonds etc. issued in Australia
Bonds etc. issued offshore
2 324
2 240
2 324
Derivatives
3 062
1 649
2 946
Loans and placements
2 372
1 865
1 323
Listed and unlisted equity
19 093
19 187
23 569
Net equity in reserves
52 264
56 411
54 134
Net equity of pension funds
146 372
159 303
164 222
Other accounts payable
16
5
6
Total
225 508
240 663
248 528

— nil or rounded to zero (including null cells)
(a) Includes friendly societies.
Source: Australian National Accounts: Financial Accounts (5232.0).


NON-LIFE INSURANCE CORPORATIONS

This sector includes all corporations that provide insurance other than life insurance, including reinsurance services provided to other insurance corporations. Included in general insurance is house, motor vehicle (domestic and commercial), fire, accident, employer liability, health, travel, marine and aviation, mortgage and consumer credit insurers.

Private health insurers are regulated by the Private Health Insurance Administration Council under the Private Health Insurance Act 2007 (Cwlth). At 30 June 2011, there were 38 private health insurers, including health benefit funds of friendly societies. Other private insurers are supervised by APRA under the Insurance Act 1973 (Cwlth). At 30 June 2010, there were 104 insurers authorised to conduct new or renewal general insurance supervised by APRA. There are 10 separately constituted public sector insurance corporations with significant assets.

Table 27.9 shows the financial assets and liabilities of non-life insurance corporations.


27.9 NON-LIFE INSURANCE CORPORATIONS, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
100
15
11
Deposits
12 355
13 232
13 917
Bills of exchange
2 727
2 301
953
One name paper
12 538
11 067
11 552
Bonds
42 617
39 237
41 606
Derivatives
1 009
1 129
1 429
Loans and placements
5 342
5 435
5 712
Equities
42 500
43 666
46 921
Other accounts receivable
10 027
11 897
20 907
Total
129 215
127 979
143 008

LIABILITIES
Bills of exchange
24
29
18
One name paper on issue
695
334
301
Bonds on issue
3 712
4 281
4 205
Derivatives
794
990
1 119
Short-term loans and placements
661
795
4 517
Long-term loans and placements
2 749
2 521
6 284
Listed shares and other equity
28 007
26 864
26 933
Unlisted shares and other equity
31 485
31 777
32 764
Prepayment of premiums
73 260
77 726
85 953
Other accounts receivable
7 992
7 832
8 482
Total
149 381
153 149
170 576

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


FINANCIAL INVESTMENT FUNDS

Included under financial investment funds are retail and wholesale (master) trusts, common funds and listed investment companies.

Retail trusts are collective investment funds open to the Australian public. Their operations are governed by a trust deed, which is administered by a management company. Under the Managed Investments Act 1997 (Cwlth), the management company is the single responsible entity for both investment strategy and custodial arrangements. The latter previously had been the responsibility of a trustee. Retail trusts raise funds by issuing shares or units to the public, either via a prospectus or a distribution channel such as a platform (an Internet sale tool, operated by financial services firms that can be thought of as an investment product menu). These trusts allow their unit holders to dispose of their units relatively quickly. They may sell them back to the manager if the trust is unlisted, or sell them on the Australian Stock Exchange (ASX) if the trust is listed. While these trusts are not subject to supervision by APRA or registered under the Financial Sector (Collection of Data) Act 2001 (Cwlth), they are subject to the provisions of corporations law, which includes having their prospectus registered with the Australian Securities and Investments Commission (ASIC).

Wholesale (master) trusts included as financial investment funds are open to institutional investors, such as life insurance corporations, retail trusts, corporate clients, and high net worth individuals. They have high entry levels (e.g. $500,000 or above), although they are becoming increasingly open to the general public via distribution channels such as platforms. Wholesale trusts may issue a prospectus, but more commonly issue an information memorandum.

Common funds are set up by trustee companies and are governed by state and territory Trustee Acts. They allow the trustee companies to combine depositors' funds and other funds held in trust in an investment pool. They are categorised according to the main types of assets in the pool, for example, cash funds or equity funds.

Listed investment companies are similar to equity trusts or funds in that they invest in the shares of other companies. However, investors in investment companies hold share assets, not unit assets.

There are two types of financial investment funds, money market funds and non-money market funds.


Money market financial investment funds

Money market funds include cash management trusts and cash common funds. They invest primarily in bank deposits and money market transferable debt instruments with a residual maturity of less than one year (such as bank certificate of deposits). Table 27.10 shows the financial assets and liabilities of money market financial investment funds.


27.10 MONEY MARKET FINANCIAL INVESTMENT FUNDS, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Deposits
5 840
6 445
5 778
Bills of exchange
8 237
4 469
241
One name paper
28 716
20 787
14 854
Bonds
2 750
1 733
1 142
Derivatives
Loans and placements
9
1
Equity
398
774
788
Other accounts receivable
68
118
50
Total
46 018
34 327
22 853

LIABILITIES
Drawings of bills of exchange
One name paper
Bonds
Derivatives
Loans and placements
5
Equity
45 719
38 035
24 634
Other accounts payable
61
42
99
Total
45 785
38 077
24 733

— nil or rounded to zero (including null cells)
Source: Australian National Accounts: Financial Accounts (5232.0).


Non-money market financial investment funds

Non-money market investment funds invest in financial assets. The funds include unlisted mortgage trusts, listed and unlisted equity trusts, and wholesale (master) trusts. Table 27.11 shows the financial assets and liabilities of non-money market financial investment funds.


27.11 NON-MONEY MARKET FINANCIAL INVESTMENT FUNDS, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
24
59
np
Deposits
11 370
12 347
12 676
Bills of exchange
2 638
2 496
np
One name paper
12 897
12 797
17 727
Bonds
42 757
47 058
49 334
Derivatives
158
730
193
Loans and placements
20 622
19 045
14 142
Equities
167 275
181 999
194 781
Other accounts receivable
1 865
2 174
1 971
Total
259 606
278 705
292 051

LIABILITIES
Bonds, etc issued in Australia
434
225
97
Bonds, etc issued offshore
435
328
115
Derivatives
2 837
3 303
2 729
Long-term loans and placements
10 713
8 730
7 177
Listed shares and other equity
40 156
48 706
38 899
Unlisted shares and other equity
222 713
245 667
254 781
Total
277 913
306 959
303 798

np not available for publication but included in totals where applicable, unless otherwise indicated
Source: Australian National Accounts: Financial Accounts (5232.0).


CENTRAL BORROWING AUTHORITIES

Central borrowing authorities are institutions established by the state governments and the Northern Territory Government primarily to provide finance for public corporations and quasi-corporations, and other units owned or controlled by those governments. They also arrange investment of the units' surplus funds. The central borrowing authorities borrow funds, mainly by issuing securities, and lend these funds to their public sector clientele. However, they also engage in other financial intermediation activity for investment purposes, and may engage in the financial management activities of the parent government. Table 27.12 shows the financial assets and liabilities held by the central borrowing authorities.


27.12 CENTRAL BORROWING AUTHORITIES, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Deposits
6 639
11 692
15 207
Bills of exchange
4 676
4 578
3 891
One name paper
21 402
16 905
14 177
Bonds
9 398
10 711
9 558
Derivatives
16 132
15 186
13 319
Loans and placements
127 941
159 562
179 210
Other accounts receivable
2 557
1 719
1 197
Total
188 745
220 353
236 559

LIABILITIES
Drawings of bills of exchange
One name paper
14 824
16 467
20 981
Bonds issued in Australia
107 989
142 544
156 801
Bonds issued offshore
21 837
16 821
10 151
Derivatives
17 808
16 619
14 754
Loans and placements
49 107
51 265
63 040
Equity(a)
–3 655
–2 805
–1 702
Other accounts payable
2 198
1 514
3 113
Total
210 108
242 425
267 138

— nil or rounded to zero (including null cells)
(a) Net asset value.
Source: Australian National Accounts: Financial Accounts (5232.0).


SECURITISERS

Securitisers are trusts or corporations that pool various types of assets such as residential mortgages, commercial property loans and credit card debt, and package them as collateral backing for bonds or short-term debt securities, referred to as asset-backed securities. These are then sold to investors. The most common assets bought by securitisers are residential mortgages, originated by financial institutions such as banks and building societies or specialist mortgage managers. Securitisers generally pool the assets and use the income on them to pay interest to the holders of the asset-backed securities. Table 27.13 shows the financial assets and liabilities held by the central borrowing authorities.


27.13 SECURITISERS, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Deposits
8 208
4 092
3 705
Bills of exchange
817
306
35
One name paper
238
101
Bonds
525
435
275
Derivatives
126
134
123
Loans and placements
299 988
268 763
267 630
Other accounts receivable
3 109
2 583
428
Total
313 011
276 414
272 196

LIABILITIES
Drawings of bills of exchange
One name paper
28 879
19 359
14 556
Bonds issued in Australia
225 492
213 393
222 866
Bonds issued offshore
50 699
31 821
19 963
Derivatives
74
68
68
Loans and placements
7 209
8 028
8 662
Equity
1 412
588
1 092
Other accounts payable
1 912
1 210
1 191
Total
315 677
274 467
268 398

— nil or rounded to zero (including null cells)
Source: Australian National Accounts: Financial Accounts (5232.0).


OTHER FINANCIAL CORPORATIONS

This classification comprises other financial intermediaries, financial auxiliaries, money lenders and other captive financial institutions.

Included in other financial intermediaries are:
  • various housing finance schemes established by state and territory governments to assist first home buyers
  • co-operative housing societies that raise money through loans from members (rather than deposits) and provide finance to members in the form of housing loans
  • economic development corporations owned by governments, and which finance infrastructure developments mainly in their home state or territory, and
  • depository funds operated by religious institutions.

Financial auxiliaries are units that engage primarily in activities closely related to financial intermediation, but they themselves do not perform an intermediation role. Auxiliaries primarily act as agents for their clients (often other financial entities) on a fee-for-service basis, and therefore the financial asset remains on the balance sheet of the client, not the auxiliary. However, a small portion of the activities of auxiliaries is brought to account on their own balance sheet, and these amounts are included in table 27.14. Financial auxiliaries include insurance brokers or consultants, derivative dealers, fund managers, stock brokers or traders and investment advisors.

Money lenders are units providing financial services where most of either their assets or liabilities are not transacted on open financial markets. Also included are units that provide financial services exclusively from their own funds, or funds provided by a sponsor, to a range of clients and incur the financial risk of the debtor defaulting.

Other captive financial institutions are units characterised by having a balance sheet holding financial assets, usually on behalf of other companies. These institutions are usually legal entities such as corporations, trusts, or partnerships established by their parent unit for a specific and limited purpose. Captives typically have little or no employment or operations and usually do not undertake significant production. This category excludes the captive financial institution central borrowing authorities, which are included in a category of their own. Included are financial investment syndicates, which are not open to public subscription (e.g. mortgage syndicates) and holding companies with predominantly international assets and liabilities.

Table 27.14 shows the financial assets and liabilities held by other financial corporations.


27.14 OTHER FINANCIAL CORPORATIONS, Financial assets and liabilities
Amounts outstanding at 30 June
2009
2010
2011
$m
$m
$m

FINANCIAL ASSETS
Currency
10
14
11
Deposits
3703
2892
2102
Bills of exchange
One name paper
7 980
3 541
2 329
Bonds
612
652
667
Derivatives
Loans and placements
20 647
18 563
14 899
Equity
65 246
72 115
76 437
Other accounts receivable
6 114
4 667
4 820
Total
104 312
102 444
101 265

LIABILITIES
Drawings of bills of exchange
2 371
2 049
1 916
One name paper
121
106
80
Bonds
Derivatives
Loans and placements
26 364
16 126
15 233
Equity
18 631
19 076
30 053
Other accounts payable
25 457
28 501
30 537
Total
72 944
65 858
77 819

— nil or rounded to zero (including null cells)
Source: Australian National Accounts: Financial Accounts (5232.0).

 

Previous Page | Next Page


Statistics contained in the Year Book are the most recent available at the time of preparation. In many cases, the ABS website and the websites of other organisations provide access to more recent data. Each Year Book table or graph and the bibliography at the end of each chapter provides hyperlinks to the most up to date data release where available.


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.