SELECTED FINANCIAL INSTRUMENTS


Outstanding at end
Transactions during
Other changes during
Outstanding at end
Mar Qtr 2015
Jun Qtr 2015
Jun Qtr 2015
Jun Qtr 2015
$b
$b
$b
$b
Currency and deposits
Currency
70.0
-0.4
-0.1
69.6
Transferable deposits
702.8
26.1
-0.3
728.5
Other deposits
1 386.8
-19.8
-0.1
1 366.9
Short term debt securities
Bills of exchange
82.0
-3.4
-
78.5
One name paper
448.1
-12.4
-0.4
435.2
Long term debt securities
Bonds, etc.
2 211.7
34.1
-39.7
2 206.1
Derivatives
Derivatives
611.5
-107.6
-36.0
467.9
Loans and placements
Short term
331.9
15.3
-0.2
347.0
Long term
3 255.4
39.7
7.1
3 302.2
Shares and other equity
Listed
1 723.3
22.1
-129.3
1 616.0
Unlisted
2 914.2
29.1
-20.9
2 922.3
Insurance technical reserves
Reserves of pension funds and life offices
1 996.0
27.7
-52.4
1 971.3
General insurance prepayments and reserves
102.2
2.9
-
105.1
- nil or rounded to zero (including null cells)


The listed share market fell -$107.2b in June quarter 2015, with net transactions of $22.1b and a valuation decrease of -$129.3b. Bank shares recorded the largest valuation decrease (-$59.6b), undoing almost the whole increase recorded in the March quarter ($62.9b), followed by other private non-financial corporations shares (-$41.3b) which recorded the largest decrease since June quarter 2013.

Loan market transactions ($55.0b) were at a lower magnitude in the June quarter 2015 following near record large transactions recorded in the March quarter 2015 ($91.4b). June quarter 2015 transactions were driven by long term loans ($39.7b) where households ($40.7b) and rest of world ($12.1b) borrowing from banks were the main drivers.

The bond market fell by -$5.6b in the June quarter 2015 following steady increases in the December quarter 2014 and March quarter 2015. In the June quarter 2015 net transactions were $34.1b and valuation decreases were -$39.7b. The bond market had maintained an upward trend since the last decrease occurring in March quarter 2011.

Net transactions in bonds were driven by other private non-financial corporations ($10.2b) and banks ($9.9b) net issuances during June quarter 2015. The valuation decrease was driven by national general government bonds (-$16.3b) which was the largest valuation decrease since the series began, followed by rest of world bonds (-$10.3b) and banks bonds (-$3.8b).

Derivatives recorded a net settlements of -$107.6b and valuation decrease of -$36.0b. The large net settlements recorded during June quarter 2015 follows 9 quarters of valuation increases.