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Financial Statistics

Objectives
The Financial Statistics Program compiles statistics on the financial assets, liabilities, borrowing and lending of financial institutions; and on the stocks and flows of finance for the sectors of the economy. The statistics are sourced from several ABS statistical surveys and other data sources including the Australian Prudential Regulation Authority (APRA) and the Australian Taxation Office.

The main users of the program include the main financial policy agencies (including the Treasury and the Reserve Bank of Australia), and financial institutions. Industry associations, analysts and State and Territory Treasuries are also extensive users of the lending statistics.

The statistics are used for analysis of monetary policy outcomes, for monitoring the flows in the financial system, and for assessing the financial performance of the economic sectors or institutional classes. Housing finance commitment statistics are used as one of the indicators of consumer sentiment and, together with personal, commercial and lease finance commitment statistics, are used as forward indicators of demand in the economy.

Financial statistics are important inputs to the Australian National Accounts, predominantly the financial accounts, and accordingly, the ABS National Accounts Program is a key client of the Financial Statistics Program.

Outputs
The program produces the quarterly publication Managed Funds, Australia (ABS cat. no. 5655.0), which includes statistics for cash management trusts, superannuation funds, life insurance corporations, public unit trusts, common funds, and friendly societies. Information on securitisation trusts is released quarterly in the publication Assets and Liabilities of Australian Securitisers (ABS cat. no. 5232.0.55.001).

The monthly publication Housing Finance, Australia (ABS cat. no. 5609.0) includes information on finance commitments for owner occupation and investment housing, as well as balances outstanding on housing finance loans. Finance commitments by banks and other financial institutions are covered, including whether the loans are at fixed or variable rates. The monthly publication Lending Finance, Australia (ABS cat. no. 5671.0) provides statistics on commercial, personal and lease finance commitments.

The program also compiles the source data for the quarterly publication Australian National Accounts: Financial Accounts (ABS cat. no. 5232.0), which is a component of the Australian National Accounts.

Developments
The main medium-term developments in the program are to:

• review the frequency and timing of the Lending Finance, Australia publication – due June 2013
• develop concepts, sources and methods documentation for Managed Funds – due December 2012
• participate in the review by APRA of their suite of statistical reporting forms for authorised deposit-taking institutions – due December 2013.
• Further medium-term developments will be determined as recommendations arising from the review of financial statistics are costed and prioritised.

References
Topics @ a Glance - Economy