Australian National Accounts: Finance and Wealth

Latest release

National, public and private corporations, government and household financial and capital accounts, and household balance sheets.

Reference period

December 2023

Released

28/03/2024

Key statistics

Household wealth increased $419.2b (2.8%) to $15,663.8b.
Demand for credit was $105.1b.
Australia returned to a net lending position of $9.6b this quarter, following a net borrowing position of $3.7b in the previous quarter.
Capital investment as a proportion of GDP fell to 24.3%.

Main features

Financing resources and investment table

Financing resources and investment December quarter 2023, original, current prices, $b
	Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Financing resources
	Net saving (a)	44.2	5.2	3.6	7.9	60.8	-16.0
	plus Consumption of fixed capital	57.6	3.7	14.6	45.9	121.7	-
	Gross saving	101.8	8.9	18.1	53.8	182.6	-16.0
	plus Net capital transfers	0.3	0.0	-1.7	1.3	-0.1	0.1
	less Statistical discrepancy (b)	-	-	-	-	-1.6	-
	Total financing resources	102.1	8.9	16.4	55.0	184.0	-15.9
Uses of financing (investment)
	Capital formation
		Gross fixed capital formation	82.7	3.3	26.9	53.7	166.7	-
		plus Changes in inventories	-1.0	0.0	0.3	2.3	1.5	-
		plus Net acquisition of non-produced non-financial assets	0.3	-	-0.3	-	-	-
		Total capital formation	82.0	3.3	26.9	56.0	168.2	-
	plus Financial investment
		Acquisition of financial assets	28.2	-80.2	4.6	62.5	-115.5	-125.1
		less Incurrence of financial liabilities	41.2	-103.8	32.4	35.8	-125.1	-115.5
		Net Financial investment (Net lending (+) / net borrowing (-))	-12.9	23.6	-27.8	26.8	9.6	-9.6
	less Net errors and omissions	-33.1	18.0	-17.4	27.8	-6.3	6.3
	Total investment	102.1	8.9	16.4	55.0	184.1	-15.9

Financial market summary table

Financial market summary, $b
		Amounts outstanding, Sep-23	Transactions, Dec-23	Other changes, Dec-23	Amounts outstanding, Dec-23
Currency and deposits
	Currency	104.7	2.1	-	106.8
	Transferable deposits	2,272.8	13.8	-12.8	2,273.7
	Other deposits	1,603.2	26.0	-6.5	1,622.7
Short term debt securities
	Bills of exchange	6.3	-0.2	-	6.1
	One name paper	554.5	41.1	-6.3	589.3
Long term debt securities
	Bonds, etc.	3,303.2	18.7	52.4	3,374.3
Derivatives
	Derivatives	1,379.7	-444.8	224.0	1,158.9
Loans and placements
	Short term	417.6	-17.1	-3.2	397.4
	Long term	4,828.7	70.9	-3.3	4,896.3
Shares and other equity
	Listed	2,520.7	-9.6	192.0	2,703.1
	Unlisted	6,031.2	61.0	89.1	6,181.3
Insurance technical reserves
	Reserves of pension funds and life	3,295.1	22.7	120.2	3,438.0
	General insurance payments	160.4	4.3	0.0	164.7

Flow of funds diagrams

National investment

National investment increased by $11.3b to $168.2b in the December quarter.

General government investment increased by $3.4b to $26.9b, driven by increases in gross fixed capital formation for both state and local general government and national general government.
Non-financial corporations' investment increased by $2.0b to $82.0b, driven by an increase in gross fixed capital formation for private non-financial corporations and an increase in change in inventories for public non-financial corporations.
Households' investment increased by $5.8b to $56.0b, driven by increases in change in inventories and gross fixed capital formation.

Financial investment

Australia was a net lender of $9.6b to rest of world (ROW). The main contributors were a:

$24.4b acquisition by Australia of equity issued by ROW
$6.2b placement of deposits with ROW
Partly offset by $60.1b acquisition of debt securities by ROW

Acquisition of equity by Australia reflected merger and acquisition activity occurring over the quarter. Banks issued ONP and bonds offshore as they continued to raise addition funds following the maturity of the initial allowance of the Term Funding Facility (TFF). ROW also continued to acquire bonds issued by the National General Government (NGG).

Households

Households $26.8b net lending position was due to a $62.5b acquisition of financial assets, offset by $35.8b incurrence of liabilities. The acquisition of assets was driven by:

$32.7b in deposits
$27.2b in net equity in superannuation

While liabilities were driven by:

$33.2b in loan borrowings

Deposit assets continued to grow this quarter with households taking advantage of higher interest rates offered on savings account products. Contributions into pension funds rose year on year reflecting legislative changes to compulsory superannuation on July 1 and strength in employment.

General government

General government’s $27.8b net borrowing position was due to $32.4b incurrence of liabilities, offset by $4.6b acquisition of financial assets.

Liabilities were driven by:

$18.1b net issuance of bonds
$16.0b in loan borrowings

Net issuance of bonds by general government was the strongest since June quarter 2022, reflecting a combination of the establishment of a new bond line by the national general government and no bond maturities. State and territory governments continued to borrow funds from their respective central borrowing authorities to meet expenditure for transport infrastructure and ordinary operating expenses.

Net financial investment (net lending (+) / borrowing (-))
	National net financial investment ($b)	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-10	-11.9	-4.1	9.8	-16.3	-1.2
Mar-11	-14.0	15.9	2.7	-17.1	-15.5
Jun-11	-9.6	1.0	5.5	-19.8	3.7
Sep-11	-11.2	-8.6	-2.6	-25.8	25.8
Dec-11	-15.0	-0.1	-2.7	-14.9	2.6
Mar-12	-18.4	-37.0	23.4	-13.2	8.5
Jun-12	-11.4	1.8	-24.4	-30.1	41.3
Sep-12	-19.2	-3.1	-11.5	-24.3	19.7
Dec-12	-20.3	-13.5	-0.6	-12.4	6.2
Mar-13	-10.2	-29.5	18.2	-15.5	16.6
Jun-13	-11.7	-42.4	21.2	-14.0	23.5
Sep-13	-19.2	-12.9	-20.1	-20.2	34.0
Dec-13	-12.6	-45.0	27.2	-10.9	16.0
Mar-14	-9.5	-18.0	10.2	-11.0	9.2
Jun-14	-13.7	-21.3	14.4	-10.2	3.4
Sep-14	-13.5	-13.1	-18.4	-18.4	36.4
Dec-14	-16.5	-3.2	-30.7	-10.0	27.4
Mar-15	-14.9	-21.8	1.7	-3.6	8.8
Jun-15	-22.3	-29.4	3.4	-8.4	12.0
Sep-15	-27.2	-54.6	-7.5	-15.0	49.9
Dec-15	-25.8	-35.9	1.8	-7.2	15.4
Mar-16	-18.4	-25.0	11.2	-8.8	4.2
Jun-16	-15.1	9.0	-33.3	-6.0	15.2
Sep-16	-15.1	-8.3	-2.5	-22.1	17.8
Dec-16	-8.0	1.5	-8.2	-24.1	22.8
Mar-17	-3.8	-14.6	8.0	2.2	0.5
Jun-17	-13.5	24.1	-32.9	-12.8	8.1
Sep-17	-15.9	-10.2	-10.7	-18.7	23.7
Dec-17	-19.4	-7.8	-22.9	-2.6	13.9
Mar-18	-9.5	-23.4	6.5	-0.9	8.4
Jun-18	-16.0	-10.0	-19.0	-0.2	13.2
Sep-18	-9.0	-26.6	-3.1	-18.5	39.3
Dec-18	-7.9	-6.9	3.0	-9.2	5.2
Mar-19	-5.5	-14.8	-6.7	-0.3	16.3
Jun-19	6.0	11.4	-33.6	-9.2	37.5
Sep-19	6.1	-7.8	-14.3	-22.9	51.2
Dec-19	-1.0	-13.5	6.2	-14.2	20.5
Mar-20	7.6	-12.8	10.5	-14.3	24.2
Jun-20	15.6	44.9	3.8	-89.0	55.9
Sep-20	9.6	19.2	17.2	-102.6	75.8
Dec-20	17.7	21.8	8.5	-45.6	32.9
Mar-21	13.7	-4.6	28.4	-18.1	7.9
Jun-21	21.7	18.9	5.2	-15.5	13.1
Sep-21	12.7	-28.1	25.7	-43.4	58.5
Dec-21	9.9	-11.0	22.7	-25.6	24.0
Mar-22	6.0	-51.0	48.3	-1.5	10.2
Jun-22	15.0	1.0	26.7	-16.1	3.5
Sep-22	-5.0	-60.1	25.2	-28.4	58.3
Dec-22	8.1	-4.3	8.2	-14.9	19.1
Mar-23	11.2	-31.0	8.9	12.0	21.2
Jun-23	16.1	2.7	13.0	1.6	-1.2
Sep-23	-3.7	-79.7	37.6	-25.6	64.0
Dec-23	9.6	-12.9	23.6	-27.8	26.8

Net financial investment (net lending (+) / borrowing (-))

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Demand for credit

Demand for credit table

Demand for credit non-financial domestic sectors, $b
		Credit market outstandings, Sep-23	Demand for credit, Dec-23	Other changes, Dec-23	Credit market outstandings, Dec-23
Non-financial corporations
	Investment funds	523.1	2.9	9.2	535.2
	Other private	4,466.4	29.2	113.3	4,608.9
	Public	184.0	5.6	-0.3	189.3
General government
	National	841.0	17.7	21.8	880.5
	State and local	401.3	16.5	0.3	418.1
Households	2,840.3	33.2	1.6	2,875.1
Total	9,255.9	105.1	146.0	9,507.0

Demand for credit was $105.1b in the December quarter, of which:

general government borrowed $34.2b
households borrowed $33.2b
other private non-financial corporations borrowed $29.2b

Credit market outstanding increased by $251.1b, comprised of demand for credit and $146.0b of revaluation gains. Holding gains on the shares of other private non-financial corporations were $117.8b, in line with an increase in equity prices on the Australian Securities Exchange (ASX). This was aided by holding gains on Commonwealth government bonds of $21.8b which reflected falling bond yields.

Other private non-financial corporations

Business lending was driven by investment in machinery and equipment and building construction projects. Mergers and acquisitions resulted in additional equity being issued and held by rest of world. Business financing activity comprised:

loan borrowings of $15.8b
equity raising of $10.2b

Households

Housing credit growth increased from the previous quarter which reflected a lift in buyer activity and housing commitments during the Spring season. Household short term loan borrowings also increased in line with seasonally higher consumer spending in December quarters. Households borrowed:

$32.5b in long term loans
$0.7b in short term loans

General government

Public sector debt continued to expand as the Commonwealth government raised additional funds in the December quarter to assist with investment in infrastructure and other policy priorities. State government demand for credit was driven by investment into transport infrastructure. The government financed its operations through:

$17.3b of bonds issued by national general government
$15.7b in loan borrowings by state and local general government

Demand for credit by sector
	Other private non-financial corporations ($b)	Households ($b)	General government ($b)	Other ($b)
Dec-10	20.9	23.5	13.4	-0.4
Mar-11	7.1	21.5	17.7	1.8
Jun-11	5.9	27.2	18.6	-2.4
Sep-11	30.1	7.5	23.4	-2.8
Dec-11	-3.7	16.8	21.6	6.1
Mar-12	27.6	11.9	18.8	4.5
Jun-12	16.0	22.8	10.7	-0.4
Sep-12	16.3	4.7	26.8	3.4
Dec-12	14.8	15.9	12.0	6.5
Mar-13	24.8	12.3	8.6	1.3
Jun-13	37.4	28.8	-6.2	5.0
Sep-13	26.1	3.7	28.9	-0.3
Dec-13	38.6	32.5	22.5	9.4
Mar-14	7.9	18.7	20.1	0
Jun-14	32.3	36.1	6.9	8.7
Sep-14	33.6	13.6	24.2	-6.1
Dec-14	35.4	26.8	8.9	3.1
Mar-15	43.2	25.1	16.1	7.4
Jun-15	27.0	39.3	5.3	11.8
Sep-15	39.7	12.3	36.4	3.8
Dec-15	33.4	23.2	2.1	7.9
Mar-16	30.4	25.1	22.0	3.4
Jun-16	11.1	34.7	2.5	2.7
Sep-16	20.3	28.5	25.8	6.0
Dec-16	56.5	20.7	19.0	-7.6
Mar-17	6.3	21.6	18.9	4.4
Jun-17	38.0	40.6	19.6	1.2
Sep-17	33.4	18.0	5.4	6.0
Dec-17	30.9	27.7	15.7	5.2
Mar-18	39.0	19.6	6.3	3.7
Jun-18	14.0	27.5	10.1	2.9
Sep-18	67.0	11.1	5.9	9.1
Dec-18	8.8	25.7	6.1	3.0
Mar-19	35.5	15.3	-0.3	5.4
Jun-19	38.8	4.0	12.3	-3.6
Sep-19	18.1	-0.1	25.8	4.5
Dec-19	21.0	19.3	15.7	6.0
Mar-20	49.7	3.9	35.6	5.4
Jun-20	-7.2	14.6	136.2	9.4
Sep-20	0.3	5.5	144.0	7.9
Dec-20	1.8	22.1	30.2	11.0
Mar-21	16.0	24.5	20.2	6.4
Jun-21	9.1	48.8	6.8	19.6
Sep-21	54.8	40.6	50.1	9.6
Dec-21	32.4	53.6	22.0	16.2
Mar-22	165.0	41.1	13.5	12.5
Jun-22	43.7	52.2	48.5	16.2
Sep-22	73.1	25.8	10.3	7.5
Dec-22	16.9	31.6	7.2	0.1
Mar-23	47.4	18.8	17.7	10.0
Jun-23	-3.4	42.6	-3.1	5.2
Sep-23	56.8	13.7	18.4	11.0
Dec-23	29.2	33.2	34.2	8.5

Demand for credit by sector

["","Other private non-financial corporations","Households","General government","Other"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[20.899999999999999],[7.0999999999999996],[5.9000000000000004],[30.100000000000001],[-3.7000000000000002],[27.600000000000001],[16],[16.300000000000001],[14.800000000000001],[24.800000000000001],[37.399999999999999],[26.100000000000001],[38.600000000000001],[7.9000000000000004],[32.299999999999997],[33.600000000000001],[35.399999999999999],[43.200000000000003],[27],[39.700000000000003],[33.399999999999999],[30.399999999999999],[11.1],[20.300000000000001],[56.5],[6.2999999999999998],[38],[33.399999999999999],[30.899999999999999],[39],[14],[67],[8.8000000000000007],[35.5],[38.799999999999997],[18.100000000000001],[21],[49.700000000000003],[-7.2000000000000002],[0.29999999999999999],[1.8],[16],[9.0999999999999996],[54.799999999999997],[32.399999999999999],[165],[43.700000000000003],[73.099999999999994],[16.899999999999999],[47.399999999999999],[-3.3999999999999999],[56.799999999999997],[29.199999999999999]],[[23.5],[21.5],[27.199999999999999],[7.5],[16.800000000000001],[11.9],[22.800000000000001],[4.7000000000000002],[15.9],[12.300000000000001],[28.800000000000001],[3.7000000000000002],[32.5],[18.699999999999999],[36.100000000000001],[13.6],[26.800000000000001],[25.100000000000001],[39.299999999999997],[12.300000000000001],[23.199999999999999],[25.100000000000001],[34.700000000000003],[28.5],[20.699999999999999],[21.600000000000001],[40.600000000000001],[18],[27.699999999999999],[19.600000000000001],[27.5],[11.1],[25.699999999999999],[15.300000000000001],[4],[-0.10000000000000001],[19.300000000000001],[3.8999999999999999],[14.6],[5.5],[22.100000000000001],[24.5],[48.799999999999997],[40.600000000000001],[53.600000000000001],[41.100000000000001],[52.200000000000003],[25.800000000000001],[31.600000000000001],[18.800000000000001],[42.600000000000001],[13.699999999999999],[33.200000000000003]],[[13.4],[17.699999999999999],[18.600000000000001],[23.399999999999999],[21.600000000000001],[18.800000000000001],[10.699999999999999],[26.800000000000001],[12],[8.5999999999999996],[-6.2000000000000002],[28.899999999999999],[22.5],[20.100000000000001],[6.9000000000000004],[24.199999999999999],[8.9000000000000004],[16.100000000000001],[5.2999999999999998],[36.399999999999999],[2.1000000000000001],[22],[2.5],[25.800000000000001],[19],[18.899999999999999],[19.600000000000001],[5.4000000000000004],[15.699999999999999],[6.2999999999999998],[10.1],[5.9000000000000004],[6.0999999999999996],[-0.29999999999999999],[12.300000000000001],[25.800000000000001],[15.699999999999999],[35.600000000000001],[136.19999999999999],[144],[30.199999999999999],[20.199999999999999],[6.7999999999999998],[50.100000000000001],[22],[13.5],[48.5],[10.300000000000001],[7.2000000000000002],[17.699999999999999],[-3.1000000000000001],[18.399999999999999],[34.200000000000003]],[[-0.40000000000000002],[1.8],[-2.3999999999999999],[-2.7999999999999998],[6.0999999999999996],[4.5],[-0.40000000000000002],[3.3999999999999999],[6.5],[1.3],[5],[-0.29999999999999999],[9.4000000000000004],[0],[8.6999999999999993],[-6.0999999999999996],[3.1000000000000001],[7.4000000000000004],[11.800000000000001],[3.7999999999999998],[7.9000000000000004],[3.3999999999999999],[2.7000000000000002],[6],[-7.5999999999999996],[4.4000000000000004],[1.2],[6],[5.2000000000000002],[3.7000000000000002],[2.8999999999999999],[9.0999999999999996],[3],[5.4000000000000004],[-3.6000000000000001],[4.5],[6],[5.4000000000000004],[9.4000000000000004],[7.9000000000000004],[11],[6.4000000000000004],[19.600000000000001],[9.5999999999999996],[16.199999999999999],[12.5],[16.199999999999999],[7.5],[0.10000000000000001],[10],[5.2000000000000002],[11],[8.5]]]

[]

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"Other" includes private non-financial investment funds and public non-financial corporations.

Households

Balance sheet

Household balance sheet, $b
	Amounts outstanding, Sep-23	Transactions, Dec-23	Other changes(a), Dec-23	Holding gains/losses, Dec-23	Amounts outstanding, Dec-23
Non-financial assets
	Land and dwellings	10,439.8	7.8	9.2	200.3	10,657.1
	Other non-financial assets	820.3	2.3	-	5.4	828.0
Financial assets
	Superannuation reserves	3,596.1	27.2	-	112.9	3,736.2
	Shares and other equity	1,348.2	1.9	-	49.8	1,400.0
	Currency and deposits	1,663.8	33.1	-	-0.4	1,696.5
	Other financial assets	386.8	0.3	-	6.7	393.8
Liabilities
	Loans	2,836.1	33.2	-	1.6	2,870.9
	Other liabilities	174.4	2.5	-	-	176.9
Wealth (Net worth)	15,244.6	36.9	9.2	373.1	15,663.8
Memorandum item
	Consumer durables (b)	543.2	6.8	-	-	552.3

Financial assets

Household selected financial assets, $b
		Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total assets	40.2	6,896.3	82.7	6,995.0	62.5	7,226.6
Deposits	-6.1	1,561.5	50.6	1,614.4	32.7	1,646.7
Shares and equity	1.7	1,314.5	2.0	1,348.2	1.9	1,400.0
Net equity in reserves	32.6	3,294.4	21.7	3,301.4	22.5	3,445.0
	Pension funds	35.9	3,153.8	23.1	3,162.9	25.2	3,302.3
Other assets	12.0	725.9	8.4	730.8	5.4	734.9

Liabilities

Household selected liabilities, $b
		Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total liabilities	41.4	2,983.4	18.7	3,010.5	35.8	3,048.0
Short term loans	0.1	58.4	-0.6	57.8	0.7	58.5
Long term loans	42.6	2,755.4	14.5	2,778.3	32.5	2,812.4
Other liabilities	-1.3	169.6	4.9	174.5	2.5	177.0

Household wealth grew 2.8% ($419.2b) to $15,663.8b at the end of the December quarter. The increase in net worth was driven by strength in the housing market and share market.

Non-financial assets

Non-financial assets owned by households increased by 2.0% ($225.0b), driven by:

$188.5b rise in residential land and dwellings.

House prices continued to increase despite rising interest rates, as supply is still unable to meet current demand.

Financial assets

Financial assets of households increased by 3.3% ($231.6b), with a:

$140.1b rise in superannuation reserves
$51.8b rise in shares and other equity
$32.7b rise in currency and deposits

Total superannuation reserves increased by 3.9% this quarter, driven by favourable domestic and international share market performance increasing the value of equities held by superannuation funds.

Total deposits increased by 2.0%. Transferable deposit account balances rose $15.3b, including offset accounts which rose $8.9b. Other deposit accounts (which include term deposit and savings accounts) rose $17.0b.

Liabilities

Household liabilities increased by 1.2% ($37.4b), with a:

$26.6b rise in housing loans
$0.7b rise in short term loans

The growth in housing loans was driven by both owner-occupied ($21.2b) and investor ($5.5b) loans.

The increase in short term loans was due to seasonal year-end spending. Through the year, short term loans fell 1.4%, reflecting a decline in household preferences for acquiring short term debt.

Household wealth, contribution to growth, quarterly
	Wealth (Net worth) ($b)	Land and dwellings ($b)	Superannuation ($b)	Currency and deposits ($b)	Shares and equity ($b)	Other financial assets ($b)	Liabilities ($b)
Dec-10	70.3	23.4	48.7	13.6	5.2	2.4	-27.9
Mar-11	-10.1	-14.9	29.0	8.3	1.9	-10.8	-26.3
Jun-11	-31.2	9.0	-1.4	0.5	-8.9	-2.8	-28.6
Sep-11	-211.5	-130.1	-71.1	23.6	-15.3	-4.5	-14.2
Dec-11	7.1	-16.6	15.5	15.4	4.7	0.2	-14.6
Mar-12	101.7	26.5	65.1	10.2	18.4	-3.1	-16.5
Jun-12	146.4	28.3	123.0	9.1	-4.3	13.6	-23.9
Sep-12	60.9	-15.0	51.0	22.5	15.8	-4.0	-10.5
Dec-12	179.2	105.9	58.3	12.6	14.6	-2.5	-14.5
Mar-13	145.1	54.4	68.0	9.7	22.9	1.0	-14.6
Jun-13	-1.7	78.6	-52.5	6.4	-3.0	1.3	-36.2
Sep-13	212.0	83.3	88.4	26.3	21.0	-0.5	-11.4
Dec-13	234.8	173.2	53.3	20.4	8.7	7.9	-37.8
Mar-14	138.1	76.5	46.1	9.7	19.4	-1.4	-19.7
Jun-14	116.6	94.9	26.2	7.0	15.3	4.1	-38.0
Sep-14	164.0	82.6	51.3	29.5	13.1	-0.7	-19.6
Dec-14	261.6	169.2	59.6	25.5	24.6	1.9	-30.3
Mar-15	263.3	125.0	106.0	13.9	34.9	7.6	-32.0
Jun-15	202.0	224.7	12.3	6.4	0.1	-5.0	-42.4
Sep-15	122.5	129.6	-24.5	37.2	0.9	-2.5	-22.0
Dec-15	150.2	46.6	76.4	19.6	30.4	-2.7	-25.8
Mar-16	-14.2	9.6	-18.7	12.8	3.6	1.9	-26.2
Jun-16	281.8	137.3	149.0	10.6	16.2	8.1	-41.9
Sep-16	230.7	125.7	79.3	25.3	23.7	3.1	-30.1
Dec-16	335.9	258.0	48.6	24.9	22.8	0.4	-26.4
Mar-17	231.6	160.4	63.2	9.8	20.8	1.6	-29.9
Jun-17	154.6	170.0	16.7	1.4	4.2	-0.5	-41.2
Sep-17	27.6	14.3	-3.4	21.7	11.8	6.6	-26.8
Dec-17	286.0	167.9	95.7	13.5	26.4	9.3	-33.1
Mar-18	-14.5	17.1	-16.6	10.0	2.2	0.3	-30.8
Jun-18	87.3	-26.3	107.9	1.5	21.9	11.8	-31.2
Sep-18	33.6	-51.1	47.7	28.2	18.8	5.1	-16.0
Dec-18	-206.3	-61.0	-111.3	9.5	-7.5	-9.0	-31.0
Mar-19	56.9	-119.6	142.6	5.4	33.6	14.4	-20.2
Jun-19	318.0	68.6	220.6	4.3	27.8	13.1	-15.3
Sep-19	335.1	225.9	63.2	25.9	16.9	11.3	-6.2
Dec-19	288.0	218.8	62.1	12.9	13.0	2.3	-23.8
Mar-20	-250.7	106.0	-275.5	18.2	-63.2	-16.6	-21.6
Jun-20	231.6	-23.8	166.6	35.1	32.3	25.5	-6.3
Sep-20	336.7	221.9	38.1	65.5	7.5	2.7	-5.1
Dec-20	626.1	376.2	167.0	27.3	54.0	11.7	-24.4
Mar-21	552.8	457.0	68.6	13.5	28.2	-1.2	-27.0
Jun-21	576.0	429.4	119.1	5.9	35.0	24.0	-52.7
Sep-21	732.4	600.4	60.8	75.0	26.1	7.7	-53.5
Dec-21	719.2	587.5	91.6	47.7	21.1	6.5	-57.2
Mar-22	165.9	196.2	-53.9	33.7	21.6	-8.1	-41.2
Jun-22	-399.4	-39.9	-293.5	6.2	-22.7	-14.0	-48.8
Sep-22	-222.2	-262.9	-10.8	53.0	15.0	6.0	-30.8
Dec-22	223.5	64.1	113.8	33.7	35.4	7.0	-42.3
Mar-23	182.3	53.7	106.6	26.8	21.3	3.1	-34.9
Jun-23	335.7	310.5	48.0	-5.9	17.1	7.7	-43.5
Sep-23	195.6	123.1	9.1	53.2	33.7	2.7	-27.1
Dec-23	419.2	217.3	140.1	32.7	51.8	7.0	-37.4

Household wealth, contribution to growth, quarterly

["","Wealth (Net worth)","Land and dwellings","Superannuation","Currency and deposits","Shares and equity","Other financial assets","Liabilities"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[70.299999999999997],[-10.1],[-31.199999999999999],[-211.5],[7.0999999999999996],[101.7],[146.40000000000001],[60.899999999999999],[179.19999999999999],[145.09999999999999],[-1.7],[212],[234.80000000000001],[138.09999999999999],[116.59999999999999],[164],[261.60000000000002],[263.30000000000001],[202],[122.5],[150.19999999999999],[-14.199999999999999],[281.80000000000001],[230.69999999999999],[335.89999999999998],[231.59999999999999],[154.59999999999999],[27.600000000000001],[286],[-14.5],[87.299999999999997],[33.600000000000001],[-206.30000000000001],[56.899999999999999],[318],[335.10000000000002],[288],[-250.69999999999999],[231.59999999999999],[336.69999999999999],[626.10000000000002],[552.79999999999995],[576],[732.39999999999998],[719.20000000000005],[165.90000000000001],[-399.39999999999998],[-222.19999999999999],[223.5],[182.30000000000001],[335.69999999999999],[195.59999999999999],[419.19999999999999]],[[23.399999999999999],[-14.9],[9],[-130.09999999999999],[-16.600000000000001],[26.5],[28.300000000000001],[-15],[105.90000000000001],[54.399999999999999],[78.599999999999994],[83.299999999999997],[173.19999999999999],[76.5],[94.900000000000006],[82.599999999999994],[169.19999999999999],[125],[224.69999999999999],[129.59999999999999],[46.600000000000001],[9.5999999999999996],[137.30000000000001],[125.7],[258],[160.40000000000001],[170],[14.300000000000001],[167.90000000000001],[17.100000000000001],[-26.300000000000001],[-51.100000000000001],[-61],[-119.59999999999999],[68.599999999999994],[225.90000000000001],[218.80000000000001],[106],[-23.800000000000001],[221.90000000000001],[376.19999999999999],[457],[429.39999999999998],[600.39999999999998],[587.5],[196.19999999999999],[-39.899999999999999],[-262.89999999999998],[64.099999999999994],[53.700000000000003],[310.5],[123.09999999999999],[217.30000000000001]],[[48.700000000000003],[29],[-1.3999999999999999],[-71.099999999999994],[15.5],[65.099999999999994],[123],[51],[58.299999999999997],[68],[-52.5],[88.400000000000006],[53.299999999999997],[46.100000000000001],[26.199999999999999],[51.299999999999997],[59.600000000000001],[106],[12.300000000000001],[-24.5],[76.400000000000006],[-18.699999999999999],[149],[79.299999999999997],[48.600000000000001],[63.200000000000003],[16.699999999999999],[-3.3999999999999999],[95.700000000000003],[-16.600000000000001],[107.90000000000001],[47.700000000000003],[-111.3],[142.59999999999999],[220.59999999999999],[63.200000000000003],[62.100000000000001],[-275.5],[166.59999999999999],[38.100000000000001],[167],[68.599999999999994],[119.09999999999999],[60.799999999999997],[91.599999999999994],[-53.899999999999999],[-293.5],[-10.800000000000001],[113.8],[106.59999999999999],[48],[9.0999999999999996],[140.09999999999999]],[[13.6],[8.3000000000000007],[0.5],[23.600000000000001],[15.4],[10.199999999999999],[9.0999999999999996],[22.5],[12.6],[9.6999999999999993],[6.4000000000000004],[26.300000000000001],[20.399999999999999],[9.6999999999999993],[7],[29.5],[25.5],[13.9],[6.4000000000000004],[37.200000000000003],[19.600000000000001],[12.800000000000001],[10.6],[25.300000000000001],[24.899999999999999],[9.8000000000000007],[1.3999999999999999],[21.699999999999999],[13.5],[10],[1.5],[28.199999999999999],[9.5],[5.4000000000000004],[4.2999999999999998],[25.899999999999999],[12.9],[18.199999999999999],[35.100000000000001],[65.5],[27.300000000000001],[13.5],[5.9000000000000004],[75],[47.700000000000003],[33.700000000000003],[6.2000000000000002],[53],[33.700000000000003],[26.800000000000001],[-5.9000000000000004],[53.200000000000003],[32.700000000000003]],[[5.2000000000000002],[1.8999999999999999],[-8.9000000000000004],[-15.300000000000001],[4.7000000000000002],[18.399999999999999],[-4.2999999999999998],[15.800000000000001],[14.6],[22.899999999999999],[-3],[21],[8.6999999999999993],[19.399999999999999],[15.300000000000001],[13.1],[24.600000000000001],[34.899999999999999],[0.10000000000000001],[0.90000000000000002],[30.399999999999999],[3.6000000000000001],[16.199999999999999],[23.699999999999999],[22.800000000000001],[20.800000000000001],[4.2000000000000002],[11.800000000000001],[26.399999999999999],[2.2000000000000002],[21.899999999999999],[18.800000000000001],[-7.5],[33.600000000000001],[27.800000000000001],[16.899999999999999],[13],[-63.200000000000003],[32.299999999999997],[7.5],[54],[28.199999999999999],[35],[26.100000000000001],[21.100000000000001],[21.600000000000001],[-22.699999999999999],[15],[35.399999999999999],[21.300000000000001],[17.100000000000001],[33.700000000000003],[51.799999999999997]],[[2.3999999999999999],[-10.800000000000001],[-2.7999999999999998],[-4.5],[0.20000000000000001],[-3.1000000000000001],[13.6],[-4],[-2.5],[1],[1.3],[-0.5],[7.9000000000000004],[-1.3999999999999999],[4.0999999999999996],[-0.69999999999999996],[1.8999999999999999],[7.5999999999999996],[-5],[-2.5],[-2.7000000000000002],[1.8999999999999999],[8.0999999999999996],[3.1000000000000001],[0.40000000000000002],[1.6000000000000001],[-0.5],[6.5999999999999996],[9.3000000000000007],[0.29999999999999999],[11.800000000000001],[5.0999999999999996],[-9],[14.4],[13.1],[11.300000000000001],[2.2999999999999998],[-16.600000000000001],[25.5],[2.7000000000000002],[11.699999999999999],[-1.2],[24],[7.7000000000000002],[6.5],[-8.0999999999999996],[-14],[6],[7],[3.1000000000000001],[7.7000000000000002],[2.7000000000000002],[7]],[[-27.899999999999999],[-26.300000000000001],[-28.600000000000001],[-14.199999999999999],[-14.6],[-16.5],[-23.899999999999999],[-10.5],[-14.5],[-14.6],[-36.200000000000003],[-11.4],[-37.799999999999997],[-19.699999999999999],[-38],[-19.600000000000001],[-30.300000000000001],[-32],[-42.399999999999999],[-22],[-25.800000000000001],[-26.199999999999999],[-41.899999999999999],[-30.100000000000001],[-26.399999999999999],[-29.899999999999999],[-41.200000000000003],[-26.800000000000001],[-33.100000000000001],[-30.800000000000001],[-31.199999999999999],[-16],[-31],[-20.199999999999999],[-15.300000000000001],[-6.2000000000000002],[-23.800000000000001],[-21.600000000000001],[-6.2999999999999998],[-5.0999999999999996],[-24.399999999999999],[-27],[-52.700000000000003],[-53.5],[-57.200000000000003],[-41.200000000000003],[-48.799999999999997],[-30.800000000000001],[-42.299999999999997],[-34.899999999999999],[-43.5],[-27.100000000000001],[-37.399999999999999]]]

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Private non-financial corporations

Financial assets

Private non-financial corporations' selected financial assets, $b
	Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total assets	-0.3	2,032.3	-5.6	2,029.8	28.7	2,023.9
Deposits	3.6	813.5	-25.9	790.8	1.9	786.6
Shares and equity	-14.5	697.9	15.5	703.4	5.8	700.8
Other accounts receivable	19.9	287.6	-0.3	293.7	17.3	296.4
Other assets	-9.3	233.3	5.1	241.8	3.7	240.2

Liabilities

Private non-financial corporations' selected liabilities, $b
	Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total liabilities	-5.0	5,250.8	70.2	5,274.6	36.8	5,428.6
Total debt securities	2.1	270.2	-1.8	267.5	2.2	270.9
Loans	3.2	1,063.5	34.6	1,094.8	16.8	1,106.4
	Authorised deposit taking institutions	1.2	717.7	13.5	733.0	7.8	737.9
	Rest of world	-3.3	231.3	14.5	240.8	5.2	243.8
Shares and equity	-4.6	3,633.4	30.2	3,615.3	12.6	3,754.2
	Households	4.4	869.5	6.7	879.1	1.0	899.9
	Rest of world	-21.8	1,404.5	16.7	1,397.0	9.8	1,446.6
Other liabilities	-5.7	283.6	7.1	297.0	5.3	297.1

Other private non-financial corporations demand for credit

Other private non-financial corporations demand for credit of $29.2b was driven by:

$15.8b of loan borrowings, and
equity raising of $10.2b.

Other private non-financial corporations' demand for credit
	Total ($b)	Short-term debt ($b)	Bonds ($b)	Loans ($b)	Equities ($b)
Dec-10	21.1	-7.0	2.2	-6.5	32.2
Mar-11	5.8	-2.3	4.6	5.7	-1.0
Jun-11	2.5	-3.2	4.1	-8.1	13.1
Sep-11	27.0	8.0	-2.3	19.0	5.4
Dec-11	1.2	-3.6	9.6	-0.2	-9.5
Mar-12	28.0	0.3	7.9	8.6	10.8
Jun-12	21.0	-2.5	1.8	13.0	3.7
Sep-12	13.4	-3.6	10.6	-2.5	11.8
Dec-12	13.2	-5.0	9.2	2.7	7.8
Mar-13	22.4	-1.8	5.5	9.9	11.1
Jun-13	36.0	-3.2	1.8	17.3	21.5
Sep-13	27.8	1.6	6.7	3.0	14.8
Dec-13	40.7	-7.7	8.4	16.2	21.7
Mar-14	10.1	-3.9	-0.7	0.7	11.8
Jun-14	27.3	-3.4	-5.6	22.5	18.8
Sep-14	39.4	-2.6	9.5	1.7	24.9
Dec-14	35.4	-1.8	-5.8	14.6	28.4
Mar-15	42.1	-3.3	8.9	22.9	14.6
Jun-15	28.4	-2.7	10.5	3.2	16.0
Sep-15	45.2	-1.9	-6.1	31.3	16.5
Dec-15	32.1	-2.0	8.6	12.3	14.5
Mar-16	32.7	-2.4	6.3	14.3	12.1
Jun-16	14.0	-3.1	-5.0	3.3	16.0
Sep-16	25.5	-2.1	-4.9	8.0	19.4
Dec-16	59.6	-2.5	2.9	13.5	42.5
Mar-17	15.7	-0.2	-9.9	1.1	15.4
Jun-17	42.7	-1.4	7.6	3.5	28.3
Sep-17	43.9	-3.8	-1.1	4.5	33.8
Dec-17	27.4	-1.2	-5.0	9.6	27.4
Mar-18	43.7	-0.6	3.4	14.1	22.1
Jun-18	13.2	-2.4	9.1	-11.0	18.3
Sep-18	69.6	-3.4	2.3	24.4	43.6
Dec-18	7.1	-2.8	-0.3	5.0	6.9
Mar-19	33.6	-2.6	-1.6	19.5	20.1
Jun-19	35.3	-4.1	8.4	12.5	21.9
Sep-19	26.5	-1.1	1.2	9.2	8.8
Dec-19	14.9	-2.7	0.3	3.3	20.1
Mar-20	59.4	0.7	-7.7	42.5	14.1
Jun-20	-12.8	-2.5	-7.8	-23.2	26.3
Sep-20	7.4	-0.5	-9.2	-12.9	22.9
Dec-20	4.2	-2.6	-12.1	-14.0	30.5
Mar-21	25.1	0.7	-0.2	8.8	6.7
Jun-21	13.0	-0.1	-3.3	6.1	6.4
Sep-21	61.3	-1.7	-5.3	15.4	46.4
Dec-21	33.3	-1.7	0.9	-4.2	37.4
Mar-22	171.1	-1.0	5.2	12.4	148.3
Jun-22	42.1	-0.1	-0.2	31.7	12.3
Sep-22	70.1	1.9	-3.6	33.4	41.3
Dec-22	13.0	-0.2	-2.4	7.7	11.8
Mar-23	49.1	0.6	3.0	19.0	24.8
Jun-23	-9.5	-1.8	4.9	1.9	-8.4
Sep-23	64.3	2.9	-4.5	31.7	26.7
Dec-23	34.4	1.2	1.9	15.8	10.2

Other private non-financial corporations' demand for credit

["","Total","Short-term debt","Bonds","Loans","Equities"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[21.100000000000001],[5.7999999999999998],[2.5],[27],[1.2],[28],[21],[13.4],[13.199999999999999],[22.399999999999999],[36],[27.800000000000001],[40.700000000000003],[10.1],[27.300000000000001],[39.399999999999999],[35.399999999999999],[42.100000000000001],[28.399999999999999],[45.200000000000003],[32.100000000000001],[32.700000000000003],[14],[25.5],[59.600000000000001],[15.699999999999999],[42.700000000000003],[43.899999999999999],[27.399999999999999],[43.700000000000003],[13.199999999999999],[69.599999999999994],[7.0999999999999996],[33.600000000000001],[35.299999999999997],[26.5],[14.9],[59.399999999999999],[-12.800000000000001],[7.4000000000000004],[4.2000000000000002],[25.100000000000001],[13],[61.299999999999997],[33.299999999999997],[171.09999999999999],[42.100000000000001],[70.099999999999994],[13],[49.100000000000001],[-9.5],[64.299999999999997],[34.399999999999999]],[[-7],[-2.2999999999999998],[-3.2000000000000002],[8],[-3.6000000000000001],[0.29999999999999999],[-2.5],[-3.6000000000000001],[-5],[-1.8],[-3.2000000000000002],[1.6000000000000001],[-7.7000000000000002],[-3.8999999999999999],[-3.3999999999999999],[-2.6000000000000001],[-1.8],[-3.2999999999999998],[-2.7000000000000002],[-1.8999999999999999],[-2],[-2.3999999999999999],[-3.1000000000000001],[-2.1000000000000001],[-2.5],[-0.20000000000000001],[-1.3999999999999999],[-3.7999999999999998],[-1.2],[-0.59999999999999998],[-2.3999999999999999],[-3.3999999999999999],[-2.7999999999999998],[-2.6000000000000001],[-4.0999999999999996],[-1.1000000000000001],[-2.7000000000000002],[0.69999999999999996],[-2.5],[-0.5],[-2.6000000000000001],[0.69999999999999996],[-0.10000000000000001],[-1.7],[-1.7],[-1],[-0.10000000000000001],[1.8999999999999999],[-0.20000000000000001],[0.59999999999999998],[-1.8],[2.8999999999999999],[1.2]],[[2.2000000000000002],[4.5999999999999996],[4.0999999999999996],[-2.2999999999999998],[9.5999999999999996],[7.9000000000000004],[1.8],[10.6],[9.1999999999999993],[5.5],[1.8],[6.7000000000000002],[8.4000000000000004],[-0.69999999999999996],[-5.5999999999999996],[9.5],[-5.7999999999999998],[8.9000000000000004],[10.5],[-6.0999999999999996],[8.5999999999999996],[6.2999999999999998],[-5],[-4.9000000000000004],[2.8999999999999999],[-9.9000000000000004],[7.5999999999999996],[-1.1000000000000001],[-5],[3.3999999999999999],[9.0999999999999996],[2.2999999999999998],[-0.29999999999999999],[-1.6000000000000001],[8.4000000000000004],[1.2],[0.29999999999999999],[-7.7000000000000002],[-7.7999999999999998],[-9.1999999999999993],[-12.1],[-0.20000000000000001],[-3.2999999999999998],[-5.2999999999999998],[0.90000000000000002],[5.2000000000000002],[-0.20000000000000001],[-3.6000000000000001],[-2.3999999999999999],[3],[4.9000000000000004],[-4.5],[1.8999999999999999]],[[-6.5],[5.7000000000000002],[-8.0999999999999996],[19],[-0.20000000000000001],[8.5999999999999996],[13],[-2.5],[2.7000000000000002],[9.9000000000000004],[17.300000000000001],[3],[16.199999999999999],[0.69999999999999996],[22.5],[1.7],[14.6],[22.899999999999999],[3.2000000000000002],[31.300000000000001],[12.300000000000001],[14.300000000000001],[3.2999999999999998],[8],[13.5],[1.1000000000000001],[3.5],[4.5],[9.5999999999999996],[14.1],[-11],[24.399999999999999],[5],[19.5],[12.5],[9.1999999999999993],[3.2999999999999998],[42.5],[-23.199999999999999],[-12.9],[-14],[8.8000000000000007],[6.0999999999999996],[15.4],[-4.2000000000000002],[12.4],[31.699999999999999],[33.399999999999999],[7.7000000000000002],[19],[1.8999999999999999],[31.699999999999999],[15.800000000000001]],[[32.200000000000003],[-1],[13.1],[5.4000000000000004],[-9.5],[10.800000000000001],[3.7000000000000002],[11.800000000000001],[7.7999999999999998],[11.1],[21.5],[14.800000000000001],[21.699999999999999],[11.800000000000001],[18.800000000000001],[24.899999999999999],[28.399999999999999],[14.6],[16],[16.5],[14.5],[12.1],[16],[19.399999999999999],[42.5],[15.4],[28.300000000000001],[33.799999999999997],[27.399999999999999],[22.100000000000001],[18.300000000000001],[43.600000000000001],[6.9000000000000004],[20.100000000000001],[21.899999999999999],[8.8000000000000007],[20.100000000000001],[14.1],[26.300000000000001],[22.899999999999999],[30.5],[6.7000000000000002],[6.4000000000000004],[46.399999999999999],[37.399999999999999],[148.30000000000001],[12.300000000000001],[41.299999999999997],[11.800000000000001],[24.800000000000001],[-8.4000000000000004],[26.699999999999999],[10.199999999999999]]]

[]

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Private non-financial corporations sourced funds from debt at a higher rate than equity. The debt to equity ratio (adjusted for price changes) increased to 0.61.

Growth in firm’s debt was driven by loan borrowing for machinery and equipment and private engineering construction projects. The growth in firms' equity was a result of merger and acquisition activity from the Rest of World.

Private non-financial corporations' debt to equity ratio
	Debt to equity ratio, adjusted for price changes, December 2003 base	Debt to equity ratio
Dec-03	0.52	0.52
Mar-04	0.51	0.50
Jun-04	0.52	0.50
Sep-04	0.53	0.48
Dec-04	0.56	0.48
Mar-05	0.56	0.48
Jun-05	0.63	0.52
Sep-05	0.64	0.50
Dec-05	0.66	0.51
Mar-06	0.67	0.50
Jun-06	0.69	0.52
Sep-06	0.70	0.52
Dec-06	0.73	0.51
Mar-07	0.75	0.50
Jun-07	0.75	0.49
Sep-07	0.79	0.51
Dec-07	0.82	0.54
Mar-08	0.84	0.60
Jun-08	0.85	0.60
Sep-08	0.87	0.69
Dec-08	0.87	0.81
Mar-09	0.83	0.79
Jun-09	0.78	0.70
Sep-09	0.76	0.63
Dec-09	0.75	0.60
Mar-10	0.74	0.60
Jun-10	0.73	0.64
Sep-10	0.72	0.60
Dec-10	0.69	0.55
Mar-11	0.70	0.55
Jun-11	0.69	0.56
Sep-11	0.70	0.63
Dec-11	0.72	0.64
Mar-12	0.72	0.61
Jun-12	0.73	0.66
Sep-12	0.73	0.64
Dec-12	0.73	0.62
Mar-13	0.73	0.61
Jun-13	0.73	0.65
Sep-13	0.73	0.62
Dec-13	0.73	0.63
Mar-14	0.72	0.62
Jun-14	0.72	0.61
Sep-14	0.72	0.63
Dec-14	0.71	0.63
Mar-15	0.72	0.62
Jun-15	0.71	0.63
Sep-15	0.72	0.67
Dec-15	0.73	0.65
Mar-16	0.73	0.65
Jun-16	0.72	0.63
Sep-16	0.72	0.60
Dec-16	0.71	0.59
Mar-17	0.70	0.58
Jun-17	0.70	0.58
Sep-17	0.70	0.57
Dec-17	0.68	0.54
Mar-18	0.69	0.55
Jun-18	0.68	0.53
Sep-18	0.68	0.53
Dec-18	0.67	0.55
Mar-19	0.67	0.52
Jun-19	0.66	0.51
Sep-19	0.67	0.52
Dec-19	0.66	0.50
Mar-20	0.68	0.61
Jun-20	0.65	0.53
Sep-20	0.63	0.52
Dec-20	0.61	0.48
Mar-21	0.62	0.48
Jun-21	0.62	0.46
Sep-21	0.61	0.46
Dec-21	0.60	0.44
Mar-22	0.58	0.42
Jun-22	0.59	0.46
Sep-22	0.59	0.47
Dec-22	0.58	0.45
Mar-23	0.59	0.44
Jun-23	0.59	0.45
Sep-23	0.60	0.46
Dec-23	0.61	0.45

Private non-financial corporations' debt to equity ratio

["","Debt\u00a0to\u00a0equity\u00a0ratio,\u00a0adjusted\u00a0for\u00a0price\u00a0changes,\u00a0December 2003 base","Debt\u00a0to\u00a0equity\u00a0ratio"]

[["Dec-03","Mar-04","Jun-04","Sep-04","Dec-04","Mar-05","Jun-05","Sep-05","Dec-05","Mar-06","Jun-06","Sep-06","Dec-06","Mar-07","Jun-07","Sep-07","Dec-07","Mar-08","Jun-08","Sep-08","Dec-08","Mar-09","Jun-09","Sep-09","Dec-09","Mar-10","Jun-10","Sep-10","Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[0.52000000000000002],[0.51000000000000001],[0.52000000000000002],[0.53000000000000003],[0.56000000000000005],[0.56000000000000005],[0.63],[0.64000000000000001],[0.66000000000000003],[0.67000000000000004],[0.68999999999999995],[0.69999999999999996],[0.72999999999999998],[0.75],[0.75],[0.79000000000000004],[0.81999999999999995],[0.83999999999999997],[0.84999999999999998],[0.87],[0.87],[0.82999999999999996],[0.78000000000000003],[0.76000000000000001],[0.75],[0.73999999999999999],[0.72999999999999998],[0.71999999999999997],[0.68999999999999995],[0.69999999999999996],[0.68999999999999995],[0.69999999999999996],[0.71999999999999997],[0.71999999999999997],[0.72999999999999998],[0.72999999999999998],[0.72999999999999998],[0.72999999999999998],[0.72999999999999998],[0.72999999999999998],[0.72999999999999998],[0.71999999999999997],[0.71999999999999997],[0.71999999999999997],[0.70999999999999996],[0.71999999999999997],[0.70999999999999996],[0.71999999999999997],[0.72999999999999998],[0.72999999999999998],[0.71999999999999997],[0.71999999999999997],[0.70999999999999996],[0.69999999999999996],[0.69999999999999996],[0.69999999999999996],[0.68000000000000005],[0.68999999999999995],[0.68000000000000005],[0.68000000000000005],[0.67000000000000004],[0.67000000000000004],[0.66000000000000003],[0.67000000000000004],[0.66000000000000003],[0.68000000000000005],[0.65000000000000002],[0.63],[0.60999999999999999],[0.62],[0.62],[0.60999999999999999],[0.59999999999999998],[0.57999999999999996],[0.58999999999999997],[0.58999999999999997],[0.57999999999999996],[0.58999999999999997],[0.58999999999999997],[0.59999999999999998],[0.60999999999999999]],[[0.52000000000000002],[0.5],[0.5],[0.47999999999999998],[0.47999999999999998],[0.47999999999999998],[0.52000000000000002],[0.5],[0.51000000000000001],[0.5],[0.52000000000000002],[0.52000000000000002],[0.51000000000000001],[0.5],[0.48999999999999999],[0.51000000000000001],[0.54000000000000004],[0.59999999999999998],[0.59999999999999998],[0.68999999999999995],[0.81000000000000005],[0.79000000000000004],[0.69999999999999996],[0.63],[0.59999999999999998],[0.59999999999999998],[0.64000000000000001],[0.59999999999999998],[0.55000000000000004],[0.55000000000000004],[0.56000000000000005],[0.63],[0.64000000000000001],[0.60999999999999999],[0.66000000000000003],[0.64000000000000001],[0.62],[0.60999999999999999],[0.65000000000000002],[0.62],[0.63],[0.62],[0.60999999999999999],[0.63],[0.63],[0.62],[0.63],[0.67000000000000004],[0.65000000000000002],[0.65000000000000002],[0.63],[0.59999999999999998],[0.58999999999999997],[0.57999999999999996],[0.57999999999999996],[0.56999999999999995],[0.54000000000000004],[0.55000000000000004],[0.53000000000000003],[0.53000000000000003],[0.55000000000000004],[0.52000000000000002],[0.51000000000000001],[0.52000000000000002],[0.5],[0.60999999999999999],[0.53000000000000003],[0.52000000000000002],[0.47999999999999998],[0.47999999999999998],[0.46000000000000002],[0.46000000000000002],[0.44],[0.41999999999999998],[0.46000000000000002],[0.46999999999999997],[0.45000000000000001],[0.44],[0.45000000000000001],[0.46000000000000002],[0.45000000000000001]]]

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Financial corporations

Financial assets and liabilities

Financial corporations' financial assets, $b
	Amounts outstanding, Sep-23	Transactions, Dec-23	Other changes, Dec-23	Amounts outstanding, Dec-23
Central bank	555.4	-11.7	8.5	552.2
Authorised deposit taking institutions	5,380.3	-146.5	95.0	5,328.8
Other broad money institutions	213.8	2.8	0.7	217.4
Pension funds	2,985.6	19.2	118.0	3,122.8
Life insurance corporations	174.3	-2.5	7.2	179.1
Non-life insurance corporations	291.4	1.6	4.9	297.9
Money market investment funds	31.5	-1.0	-0.1	30.4
Non-money market investment funds	1,186.7	12.7	43.7	1,243.0
Central borrowing authorities	654.9	21.1	2.4	678.4
Securitisers	748.3	-24.5	0.2	724.0
Other financial corporations	114.1	-40.8	44.1	117.3

Financial corporations' liabilities, $b
	Amounts outstanding, Sep-23	Transactions, Dec-23	Other changes, Dec-23	Amounts outstanding, Dec-23
Central bank	556.4	-4.5	3.8	555.7
Authorised deposit taking institutions	5,517.9	-157.6	141.9	5,502.2
Other broad money institutions	155.3	1.3	1.9	158.6
Pension funds	3,221.2	14.9	120.9	3,357.0
Life insurance corporations	167.3	-3.1	5.9	170.2
Non-life insurance corporations	317.5	4.1	-2.8	318.7
Money market investment funds	31.5	0.0	-1.1	30.4
Non-money market investment funds	1,318.1	7.7	34.6	1,360.4
Central borrowing authorities	627.3	16.4	2.5	646.2
Securitisers	788.7	-34.6	6.1	760.2
Other financial corporations	226.8	-37.9	38.6	227.5

Authorised deposit-taking institutions (ADIs)

Financial assets

Authorised deposit-taking institutions' selected financial assets, $b
	Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total assets	-85.0	5,264.7	-36.2	5,380.3	-146.5	5,328.8
Deposits	-28.6	508.7	-53.1	455.7	-4.9	449.1
Bonds	34.3	825.4	99.6	920.7	-23.8	911.1
	Securitisers	20.2	427.7	74.4	502.2	-31.5	474.9
	National general government	9.5	85.1	-8.3	76.1	0.0	78.0
Loans	31.5	3,048.4	28.6	3,081.2	65.0	3,143.2
Other assets	-122.1	882.2	-111.4	922.7	-182.9	825.4

Liabilities

Authorised deposit-taking institutions' selected liabilities, $b
		Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total liabilities	-104.0	5,405.1	-67.1	5,517.9	-157.6	5,502.2
Deposits	-7.5	3,157.0	31.2	3,195.5	35.2	3,216.3
	Other private non-fin corps	9.6	758.3	-22.1	738.9	1.5	735.4
	Pension funds	7.0	277.1	8.1	285.5	3.6	288.5
	Households	-6.8	1,532.6	49.9	1,582.9	32.0	1,614.1
Bonds	17.5	515.3	13.2	529.6	20.9	553.6
Shares and equities	-0.9	579.2	-2.0	589.0	-1.0	628.3
Other liabilities	-113.2	1,153.6	-109.5	1,203.8	-212.7	1,103.9

Financial assets of ADIs decreased $51.5b, reflecting:

a $123.0b decrease in derivatives; and
a $9.6b decrease in bonds.

This was offset by a $62.0b increase in loans which was predominantly driven by households.

Change in authorised deposit taking institutions' assets
	Total assets ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Dec-10	11.0	10.6	-3.8	1.1	-14.2	16.2	-1.4	0
Mar-11	45.4	5.5	-3.1	1.8	-4.8	53.0	-5.0	0.7
Jun-11	30.9	-2.6	-2.1	18.3	-4.0	29.6	-8.6	0.1
Sep-11	99.5	9.1	0	36.4	33.0	30.7	-11.8	1.7
Dec-11	-18.1	-21.4	-4.9	-5.7	-17.2	22.6	9.1	-2.9
Mar-12	10.5	-6.0	3.8	24.8	-9.4	-3.4	-0.2	2.7
Jun-12	64.6	-6.3	0.2	8.3	27.5	35.9	0.5	-0.9
Sep-12	35.8	2.5	-1.1	43.3	3.4	-25.1	10.5	2.3
Dec-12	15.2	-6.4	-1.0	8.8	-19.0	26.3	6.4	-2.7
Mar-13	28.8	1.4	-7.9	9.6	-12.4	26.5	11.9	1.3
Jun-13	78.4	-4.2	-9.6	32.0	36.3	24.1	-1.1	2.1
Sep-13	18.2	-0.6	-0.7	21.2	-35.0	25.5	10.2	-2.8
Dec-13	89.2	17.4	-7.5	-4.3	31.5	36.3	8.2	5.1
Mar-14	20.3	-0.2	-8.5	25.5	-22.2	26.4	0.6	0.8
Jun-14	63.7	2.1	1.9	15.6	-3.5	45.7	0.2	1.8
Sep-14	94.4	3.3	-0.3	40.3	44.5	12.3	-5.5	0.1
Dec-14	114.1	-5.4	2.6	48.0	47.6	14.0	6.7	-1.6
Mar-15	145.1	-1.2	-3.5	32.3	34.4	59.8	19.6	4.1
Jun-15	-3.0	-4.0	-5.9	-3.6	-52.3	71.7	-8.3	1.1
Sep-15	138.6	5.2	0.6	23.8	72.0	46.9	-11.9	1.6
Dec-15	-14.7	4.6	-6.1	13.2	-64.2	26.0	11.8	-1.6
Mar-16	46.7	1.3	-1.4	5.6	40.8	13.5	-14.9	2.7
Jun-16	79.7	-0.3	-8.6	26.8	25.8	36.3	-1.6	2.4
Sep-16	5.7	-2.0	-4.7	12.2	-36.8	31.2	5.8	-0.7
Dec-16	64.6	1.4	-1.9	-5.3	0.4	65.0	6.8	-3.7
Mar-17	-26.0	4.0	-5.2	11.4	-49.7	6.7	4.7	3.4
Jun-17	52.9	0.8	-5.8	-39.2	11.5	91.4	-9.7	4.5
Sep-17	-21.5	-2.8	-2.0	-18.7	-18.3	19.8	2.6	-2.3
Dec-17	21.4	-1.9	-4.5	12.1	12.0	2.9	5.4	-5.8
Mar-18	80.5	15.6	-0.3	2.6	18.8	50.6	-10.2	4.3
Jun-18	33.7	-0.9	-3.7	-8.5	15.1	29.3	4.7	-1.0
Sep-18	3.3	3.5	-6.4	3.3	-17.4	19.4	0.2	0.1
Dec-18	53.5	0.1	0.9	2.9	28.7	28.4	-10.5	1.1
Mar-19	34.8	1.6	-2.3	16.2	7.6	-0.9	8.2	4.7
Jun-19	67.6	1.7	-2.8	22.6	56.3	-12.3	2.4	-0.3
Sep-19	113.0	5.0	-1.8	17.8	55.5	28.6	9.2	-0.8
Dec-19	-38.3	3.7	4.3	-19.0	-52.7	21.2	5.0	-1.9
Mar-20	478.2	79.7	7.0	215.9	251.9	-54.7	-42.1	19.3
Jun-20	-190.9	-28.7	5.9	132.7	-115.6	-158.0	-21.8	-3.1
Sep-20	-62.4	-21.7	-12.3	-34.3	-40.3	29.3	-3.4	20.2
Dec-20	27.2	48.8	-7.1	-80.7	23.4	31.5	16.9	-6.6
Mar-21	7.6	97.0	-3.0	-88.5	-83.6	41.8	37.3	7.3
Jun-21	37.1	132.9	-0.3	-131.7	-25.4	31.4	12.6	18.6
Sep-21	129.6	48.2	-1.6	21.7	-9.9	64.6	5.8	0.9
Dec-21	110.4	33.6	7.1	2.7	-2.8	82.1	3.7	-16.9
Mar-22	172.4	26.6	5.6	64.9	81.1	-14.4	3.2	5.9
Jun-22	318.6	-12.2	12.2	39.2	172.2	115.3	-8.6	0.3
Sep-22	242.2	24.8	3.5	0.1	151.5	82.4	-15.0	-4.7
Dec-22	-50.7	-0.7	3.3	5.3	-105.1	38.2	10.0	-2.4
Mar-23	-78.2	-12.5	-2.2	-9.3	-107.8	53.7	-5.0	4.5
Jun-23	96.0	-28.5	-9.3	22.3	76.3	33.8	5.7	-4.1
Sep-23	115.6	-53.0	7.8	95.3	47.8	32.8	-4.6	-9.3
Dec-23	-51.5	-6.6	14.6	-9.6	-123.0	62.0	15.4	-5.6

Change in authorised deposit taking institutions' assets

["","Total assets","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[11],[45.399999999999999],[30.899999999999999],[99.5],[-18.100000000000001],[10.5],[64.599999999999994],[35.799999999999997],[15.199999999999999],[28.800000000000001],[78.400000000000006],[18.199999999999999],[89.200000000000003],[20.300000000000001],[63.700000000000003],[94.400000000000006],[114.09999999999999],[145.09999999999999],[-3],[138.59999999999999],[-14.699999999999999],[46.700000000000003],[79.700000000000003],[5.7000000000000002],[64.599999999999994],[-26],[52.899999999999999],[-21.5],[21.399999999999999],[80.5],[33.700000000000003],[3.2999999999999998],[53.5],[34.799999999999997],[67.599999999999994],[113],[-38.299999999999997],[478.19999999999999],[-190.90000000000001],[-62.399999999999999],[27.199999999999999],[7.5999999999999996],[37.100000000000001],[129.59999999999999],[110.40000000000001],[172.40000000000001],[318.60000000000002],[242.19999999999999],[-50.700000000000003],[-78.200000000000003],[96],[115.59999999999999],[-51.5]],[[10.6],[5.5],[-2.6000000000000001],[9.0999999999999996],[-21.399999999999999],[-6],[-6.2999999999999998],[2.5],[-6.4000000000000004],[1.3999999999999999],[-4.2000000000000002],[-0.59999999999999998],[17.399999999999999],[-0.20000000000000001],[2.1000000000000001],[3.2999999999999998],[-5.4000000000000004],[-1.2],[-4],[5.2000000000000002],[4.5999999999999996],[1.3],[-0.29999999999999999],[-2],[1.3999999999999999],[4],[0.80000000000000004],[-2.7999999999999998],[-1.8999999999999999],[15.6],[-0.90000000000000002],[3.5],[0.10000000000000001],[1.6000000000000001],[1.7],[5],[3.7000000000000002],[79.700000000000003],[-28.699999999999999],[-21.699999999999999],[48.799999999999997],[97],[132.90000000000001],[48.200000000000003],[33.600000000000001],[26.600000000000001],[-12.199999999999999],[24.800000000000001],[-0.69999999999999996],[-12.5],[-28.5],[-53],[-6.5999999999999996]],[[-3.7999999999999998],[-3.1000000000000001],[-2.1000000000000001],[0],[-4.9000000000000004],[3.7999999999999998],[0.20000000000000001],[-1.1000000000000001],[-1],[-7.9000000000000004],[-9.5999999999999996],[-0.69999999999999996],[-7.5],[-8.5],[1.8999999999999999],[-0.29999999999999999],[2.6000000000000001],[-3.5],[-5.9000000000000004],[0.59999999999999998],[-6.0999999999999996],[-1.3999999999999999],[-8.5999999999999996],[-4.7000000000000002],[-1.8999999999999999],[-5.2000000000000002],[-5.7999999999999998],[-2],[-4.5],[-0.29999999999999999],[-3.7000000000000002],[-6.4000000000000004],[0.90000000000000002],[-2.2999999999999998],[-2.7999999999999998],[-1.8],[4.2999999999999998],[7],[5.9000000000000004],[-12.300000000000001],[-7.0999999999999996],[-3],[-0.29999999999999999],[-1.6000000000000001],[7.0999999999999996],[5.5999999999999996],[12.199999999999999],[3.5],[3.2999999999999998],[-2.2000000000000002],[-9.3000000000000007],[7.7999999999999998],[14.6]],[[1.1000000000000001],[1.8],[18.300000000000001],[36.399999999999999],[-5.7000000000000002],[24.800000000000001],[8.3000000000000007],[43.299999999999997],[8.8000000000000007],[9.5999999999999996],[32],[21.199999999999999],[-4.2999999999999998],[25.5],[15.6],[40.299999999999997],[48],[32.299999999999997],[-3.6000000000000001],[23.800000000000001],[13.199999999999999],[5.5999999999999996],[26.800000000000001],[12.199999999999999],[-5.2999999999999998],[11.4],[-39.200000000000003],[-18.699999999999999],[12.1],[2.6000000000000001],[-8.5],[3.2999999999999998],[2.8999999999999999],[16.199999999999999],[22.600000000000001],[17.800000000000001],[-19],[215.90000000000001],[132.69999999999999],[-34.299999999999997],[-80.700000000000003],[-88.5],[-131.69999999999999],[21.699999999999999],[2.7000000000000002],[64.900000000000006],[39.200000000000003],[0.10000000000000001],[5.2999999999999998],[-9.3000000000000007],[22.300000000000001],[95.299999999999997],[-9.5999999999999996]],[[-14.199999999999999],[-4.7999999999999998],[-4],[33],[-17.199999999999999],[-9.4000000000000004],[27.5],[3.3999999999999999],[-19],[-12.4],[36.299999999999997],[-35],[31.5],[-22.199999999999999],[-3.5],[44.5],[47.600000000000001],[34.399999999999999],[-52.299999999999997],[72],[-64.200000000000003],[40.799999999999997],[25.800000000000001],[-36.799999999999997],[0.40000000000000002],[-49.700000000000003],[11.5],[-18.300000000000001],[12],[18.800000000000001],[15.1],[-17.399999999999999],[28.699999999999999],[7.5999999999999996],[56.299999999999997],[55.5],[-52.700000000000003],[251.90000000000001],[-115.59999999999999],[-40.299999999999997],[23.399999999999999],[-83.599999999999994],[-25.399999999999999],[-9.9000000000000004],[-2.7999999999999998],[81.099999999999994],[172.19999999999999],[151.5],[-105.09999999999999],[-107.8],[76.299999999999997],[47.799999999999997],[-123]],[[16.199999999999999],[53],[29.600000000000001],[30.699999999999999],[22.600000000000001],[-3.3999999999999999],[35.899999999999999],[-25.100000000000001],[26.300000000000001],[26.5],[24.100000000000001],[25.5],[36.299999999999997],[26.399999999999999],[45.700000000000003],[12.300000000000001],[14],[59.799999999999997],[71.700000000000003],[46.899999999999999],[26],[13.5],[36.299999999999997],[31.199999999999999],[65],[6.7000000000000002],[91.400000000000006],[19.800000000000001],[2.8999999999999999],[50.600000000000001],[29.300000000000001],[19.399999999999999],[28.399999999999999],[-0.90000000000000002],[-12.300000000000001],[28.600000000000001],[21.199999999999999],[-54.700000000000003],[-158],[29.300000000000001],[31.5],[41.799999999999997],[31.399999999999999],[64.599999999999994],[82.099999999999994],[-14.4],[115.3],[82.400000000000006],[38.200000000000003],[53.700000000000003],[33.799999999999997],[32.799999999999997],[62]],[[-1.3999999999999999],[-5],[-8.5999999999999996],[-11.800000000000001],[9.0999999999999996],[-0.20000000000000001],[0.5],[10.5],[6.4000000000000004],[11.9],[-1.1000000000000001],[10.199999999999999],[8.1999999999999993],[0.59999999999999998],[0.20000000000000001],[-5.5],[6.7000000000000002],[19.600000000000001],[-8.3000000000000007],[-11.9],[11.800000000000001],[-14.9],[-1.6000000000000001],[5.7999999999999998],[6.7999999999999998],[4.7000000000000002],[-9.6999999999999993],[2.6000000000000001],[5.4000000000000004],[-10.199999999999999],[4.7000000000000002],[0.20000000000000001],[-10.5],[8.1999999999999993],[2.3999999999999999],[9.1999999999999993],[5],[-42.100000000000001],[-21.800000000000001],[-3.3999999999999999],[16.899999999999999],[37.299999999999997],[12.6],[5.7999999999999998],[3.7000000000000002],[3.2000000000000002],[-8.5999999999999996],[-15],[10],[-5],[5.7000000000000002],[-4.5999999999999996],[15.4]],[[0],[0.69999999999999996],[0.10000000000000001],[1.7],[-2.8999999999999999],[2.7000000000000002],[-0.90000000000000002],[2.2999999999999998],[-2.7000000000000002],[1.3],[2.1000000000000001],[-2.7999999999999998],[5.0999999999999996],[0.80000000000000004],[1.8],[0.10000000000000001],[-1.6000000000000001],[4.0999999999999996],[1.1000000000000001],[1.6000000000000001],[-1.6000000000000001],[2.7000000000000002],[2.3999999999999999],[-0.69999999999999996],[-3.7000000000000002],[3.3999999999999999],[4.5],[-2.2999999999999998],[-5.7999999999999998],[4.2999999999999998],[-1],[0.10000000000000001],[1.1000000000000001],[4.7000000000000002],[-0.29999999999999999],[-0.80000000000000004],[-1.8999999999999999],[19.300000000000001],[-3.1000000000000001],[20.199999999999999],[-6.5999999999999996],[7.2999999999999998],[18.600000000000001],[0.90000000000000002],[-16.899999999999999],[5.9000000000000004],[0.29999999999999999],[-4.7000000000000002],[-2.3999999999999999],[4.5],[-4.0999999999999996],[-9.3000000000000007],[-5.5999999999999996]]]

[]

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Liabilities of ADIs fell $15.7b, with a:

$107.0b decrease in derivatives
$8.4b decrease in loans

Partly offset by a:

$39.3b increase in shares and other equity
$24.0b increase in bonds
$20.8b increase in deposits
$20.1b increase in one name paper

ADIs also continued to return to traditional means of funding, issuing:

$19.7b worth of one name paper offshore; and
$12.6b of offshore bonds.

The continued strength in debt security issuance this quarter reflects ADIs return to traditional pre-COVID-19 pandemic funding avenues, as funds drawn under the initial allowance of the TFF have unwound.

Change in authorised deposit taking institutions' liabilities
	Total liabilities ($b)	Deposits ($b)	Short-term debt ($b)	Bonds ($b)	Derivatives ($b)	Loans ($b)	Equities ($b)	Other accounts ($b)
Dec-10	-2	26.7	10.9	-18.4	-17	2.1	-5	-1.3
Mar-11	37.9	39.1	6	-5.7	-6.2	-2.8	6.6	0.9
Jun-11	0.1	24.2	-5.7	-4.1	-5.2	5.7	-14.8	-0.1
Sep-11	75.7	63.6	7.9	24.4	3.5	6.9	-31	0.3
Dec-11	-19.2	-1.6	3.9	-22.8	4.2	-15.1	13	-0.8
Mar-12	27.8	2.5	6.3	4.2	-8.8	2.8	19.4	1.5
Jun-12	57.3	53.1	-5.1	-2.6	22.6	-5.3	-5.1	-0.3
Sep-12	61.9	48.3	-20.5	6.6	-4.8	0.6	30.6	1.2
Dec-12	31.2	32.4	9.3	-16.3	-10.5	-3.4	19.1	0.7
Mar-13	42.9	0.9	6.5	-10	-5.8	0.8	50	0.5
Jun-13	92.7	13.9	30.7	14.6	31.9	1.9	-3.8	3.4
Sep-13	56	51.2	-17.8	6.2	-18.1	0.7	33	0.8
Dec-13	101.7	41.3	1.7	15.2	17.1	5.4	21.6	-0.7
Mar-14	37.2	15.7	13.7	-5	-3.8	0.7	13.4	2.6
Jun-14	59.7	34.9	18	2.8	1.3	1.4	0.7	0.6
Sep-14	72.1	37.4	-5.7	16	37.7	9.8	-22.3	-0.7
Dec-14	146.3	38.5	19.8	18.7	44.1	-7.2	31.4	1.1
Mar-15	177.1	43.2	11	11.4	40.2	1.3	65.7	4.2
Jun-15	-71.8	8.2	9.5	10.4	-55.8	3.2	-49.2	1.8
Sep-15	114	66.9	-2.5	29.7	52.1	7.8	-39.6	-0.4
Dec-15	53.1	23.4	5.7	0.9	-32	6	49.2	-0.1
Mar-16	-8.2	9.6	-18.4	0.2	55.5	1.1	-58.4	2.1
Jun-16	78.5	51.5	0	13.9	14.1	-2	-0.7	1.7
Sep-16	2.3	43.2	-11.1	-12.5	-33.7	-4.4	20.5	0.4
Dec-16	120.2	68.4	13.9	-7.1	-4.5	4.3	48.5	-3.2
Mar-17	-24.4	0.9	1.1	-15.8	-32.9	-3.8	26.8	-0.8
Jun-17	36.2	34.8	17.1	3.5	11.9	5.4	-38.7	2.3
Sep-17	-16.8	-0.2	11.1	0.7	-28	-3.3	2.5	0.5
Dec-17	47.4	34.6	-13.5	6.6	11.5	7.6	4.8	-4.2
Mar-18	36.6	10.2	11.1	26.4	6.6	5.3	-29.3	6.4
Jun-18	55	14.2	3.2	9.1	18.7	-0.2	13.6	-3.6
Sep-18	13.8	32.5	-28.9	14.9	-9.1	5.9	-6	4.6
Dec-18	10.6	2.5	22	4.8	20.6	-1.3	-33.2	-4.8
Mar-19	43.3	7.5	-1.1	-9.4	13.9	14.1	12.5	5.8
Jun-19	127.1	23.6	-24	12.8	58.6	10.4	39.9	5.9
Sep-19	119.4	49	-6.3	6.7	52.7	9.8	12.5	-5.1
Dec-19	-86.1	5.7	21.8	-27.7	-38.3	-0.9	-41.2	-5.7
Mar-20	338.5	190.8	-13.1	36.6	205.9	29.3	-130.8	19.9
Jun-20	-100.5	9.6	-24.8	-38	-70	-15.3	44.3	-6.3
Sep-20	-77	68.9	-24.2	-31.4	-54.9	-16.1	-19.9	0.6
Dec-20	94.9	3.7	14.6	-22	35.8	-14.1	85	-8.1
Mar-21	6.9	34.2	19	-29.5	-99.6	16.8	60.2	5.7
Jun-21	58.7	42.1	5.3	3.3	-29.9	8.2	32.1	-2.4
Sep-21	143.6	93.8	20.7	-3.6	-11.6	8.5	25.3	10.4
Dec-21	87	60.6	48.6	-4.4	0.7	16.4	-16.7	-18.2
Mar-22	174.2	58.8	-11.5	-14.1	95.4	13.4	22.2	9.9
Jun-22	206.3	98.6	35.1	16.5	152.9	-1.6	-96.4	1.2
Sep-22	228.4	64.9	-4.1	5.1	151.9	0.8	12.7	-2.9
Dec-22	8.9	21.1	15.7	20.7	-73.5	-13.5	45.6	-7.2
Mar-23	-81.5	41.6	-10	30.9	-126	-11.5	-16.9	10.5
Jun-23	91.5	-5.2	-3.1	13.6	84.6	2.1	2.5	-3
Sep-23	112.8	38.5	12.3	14.3	47	-6.9	9.8	-2.2
Dec-23	-15.7	20.8	20	24	-107	-8.4	39.3	-4.5

Change in authorised deposit taking institutions' liabilities

["","Total liabilities","Deposits","Short-term debt","Bonds","Derivatives","Loans","Equities","Other accounts"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[-2],[37.899999999999999],[0.10000000000000001],[75.700000000000003],[-19.199999999999999],[27.800000000000001],[57.299999999999997],[61.899999999999999],[31.199999999999999],[42.899999999999999],[92.700000000000003],[56],[101.7],[37.200000000000003],[59.700000000000003],[72.099999999999994],[146.30000000000001],[177.09999999999999],[-71.799999999999997],[114],[53.100000000000001],[-8.1999999999999993],[78.5],[2.2999999999999998],[120.2],[-24.399999999999999],[36.200000000000003],[-16.800000000000001],[47.399999999999999],[36.600000000000001],[55],[13.800000000000001],[10.6],[43.299999999999997],[127.09999999999999],[119.40000000000001],[-86.099999999999994],[338.5],[-100.5],[-77],[94.900000000000006],[6.9000000000000004],[58.700000000000003],[143.59999999999999],[87],[174.19999999999999],[206.30000000000001],[228.40000000000001],[8.9000000000000004],[-81.5],[91.5],[112.8],[-15.699999999999999]],[[26.699999999999999],[39.100000000000001],[24.199999999999999],[63.600000000000001],[-1.6000000000000001],[2.5],[53.100000000000001],[48.299999999999997],[32.399999999999999],[0.90000000000000002],[13.9],[51.200000000000003],[41.299999999999997],[15.699999999999999],[34.899999999999999],[37.399999999999999],[38.5],[43.200000000000003],[8.1999999999999993],[66.900000000000006],[23.399999999999999],[9.5999999999999996],[51.5],[43.200000000000003],[68.400000000000006],[0.90000000000000002],[34.799999999999997],[-0.20000000000000001],[34.600000000000001],[10.199999999999999],[14.199999999999999],[32.5],[2.5],[7.5],[23.600000000000001],[49],[5.7000000000000002],[190.80000000000001],[9.5999999999999996],[68.900000000000006],[3.7000000000000002],[34.200000000000003],[42.100000000000001],[93.799999999999997],[60.600000000000001],[58.799999999999997],[98.599999999999994],[64.900000000000006],[21.100000000000001],[41.600000000000001],[-5.2000000000000002],[38.5],[20.800000000000001]],[[10.9],[6],[-5.7000000000000002],[7.9000000000000004],[3.8999999999999999],[6.2999999999999998],[-5.0999999999999996],[-20.5],[9.3000000000000007],[6.5],[30.699999999999999],[-17.800000000000001],[1.7],[13.699999999999999],[18],[-5.7000000000000002],[19.800000000000001],[11],[9.5],[-2.5],[5.7000000000000002],[-18.399999999999999],[0],[-11.1],[13.9],[1.1000000000000001],[17.100000000000001],[11.1],[-13.5],[11.1],[3.2000000000000002],[-28.899999999999999],[22],[-1.1000000000000001],[-24],[-6.2999999999999998],[21.800000000000001],[-13.1],[-24.800000000000001],[-24.199999999999999],[14.6],[19],[5.2999999999999998],[20.699999999999999],[48.600000000000001],[-11.5],[35.100000000000001],[-4.0999999999999996],[15.699999999999999],[-10],[-3.1000000000000001],[12.300000000000001],[20]],[[-18.399999999999999],[-5.7000000000000002],[-4.0999999999999996],[24.399999999999999],[-22.800000000000001],[4.2000000000000002],[-2.6000000000000001],[6.5999999999999996],[-16.300000000000001],[-10],[14.6],[6.2000000000000002],[15.199999999999999],[-5],[2.7999999999999998],[16],[18.699999999999999],[11.4],[10.4],[29.699999999999999],[0.90000000000000002],[0.20000000000000001],[13.9],[-12.5],[-7.0999999999999996],[-15.800000000000001],[3.5],[0.69999999999999996],[6.5999999999999996],[26.399999999999999],[9.0999999999999996],[14.9],[4.7999999999999998],[-9.4000000000000004],[12.800000000000001],[6.7000000000000002],[-27.699999999999999],[36.600000000000001],[-38],[-31.399999999999999],[-22],[-29.5],[3.2999999999999998],[-3.6000000000000001],[-4.4000000000000004],[-14.1],[16.5],[5.0999999999999996],[20.699999999999999],[30.899999999999999],[13.6],[14.300000000000001],[24]],[[-17],[-6.2000000000000002],[-5.2000000000000002],[3.5],[4.2000000000000002],[-8.8000000000000007],[22.600000000000001],[-4.7999999999999998],[-10.5],[-5.7999999999999998],[31.899999999999999],[-18.100000000000001],[17.100000000000001],[-3.7999999999999998],[1.3],[37.700000000000003],[44.100000000000001],[40.200000000000003],[-55.799999999999997],[52.100000000000001],[-32],[55.5],[14.1],[-33.700000000000003],[-4.5],[-32.899999999999999],[11.9],[-28],[11.5],[6.5999999999999996],[18.699999999999999],[-9.0999999999999996],[20.600000000000001],[13.9],[58.600000000000001],[52.700000000000003],[-38.299999999999997],[205.90000000000001],[-70],[-54.899999999999999],[35.799999999999997],[-99.599999999999994],[-29.899999999999999],[-11.6],[0.69999999999999996],[95.400000000000006],[152.90000000000001],[151.90000000000001],[-73.5],[-126],[84.599999999999994],[47],[-107]],[[2.1000000000000001],[-2.7999999999999998],[5.7000000000000002],[6.9000000000000004],[-15.1],[2.7999999999999998],[-5.2999999999999998],[0.59999999999999998],[-3.3999999999999999],[0.80000000000000004],[1.8999999999999999],[0.69999999999999996],[5.4000000000000004],[0.69999999999999996],[1.3999999999999999],[9.8000000000000007],[-7.2000000000000002],[1.3],[3.2000000000000002],[7.7999999999999998],[6],[1.1000000000000001],[-2],[-4.4000000000000004],[4.2999999999999998],[-3.7999999999999998],[5.4000000000000004],[-3.2999999999999998],[7.5999999999999996],[5.2999999999999998],[-0.20000000000000001],[5.9000000000000004],[-1.3],[14.1],[10.4],[9.8000000000000007],[-0.90000000000000002],[29.300000000000001],[-15.300000000000001],[-16.100000000000001],[-14.1],[16.800000000000001],[8.1999999999999993],[8.5],[16.399999999999999],[13.4],[-1.6000000000000001],[0.80000000000000004],[-13.5],[-11.5],[2.1000000000000001],[-6.9000000000000004],[-8.4000000000000004]],[[-5],[6.5999999999999996],[-14.800000000000001],[-31],[13],[19.399999999999999],[-5.0999999999999996],[30.600000000000001],[19.100000000000001],[50],[-3.7999999999999998],[33],[21.600000000000001],[13.4],[0.69999999999999996],[-22.300000000000001],[31.399999999999999],[65.700000000000003],[-49.200000000000003],[-39.600000000000001],[49.200000000000003],[-58.399999999999999],[-0.69999999999999996],[20.5],[48.5],[26.800000000000001],[-38.700000000000003],[2.5],[4.7999999999999998],[-29.300000000000001],[13.6],[-6],[-33.200000000000003],[12.5],[39.899999999999999],[12.5],[-41.200000000000003],[-130.80000000000001],[44.299999999999997],[-19.899999999999999],[85],[60.200000000000003],[32.100000000000001],[25.300000000000001],[-16.699999999999999],[22.199999999999999],[-96.400000000000006],[12.699999999999999],[45.600000000000001],[-16.899999999999999],[2.5],[9.8000000000000007],[39.299999999999997]],[[-1.3],[0.90000000000000002],[-0.10000000000000001],[0.29999999999999999],[-0.80000000000000004],[1.5],[-0.29999999999999999],[1.2],[0.69999999999999996],[0.5],[3.3999999999999999],[0.80000000000000004],[-0.69999999999999996],[2.6000000000000001],[0.59999999999999998],[-0.69999999999999996],[1.1000000000000001],[4.2000000000000002],[1.8],[-0.40000000000000002],[-0.10000000000000001],[2.1000000000000001],[1.7],[0.40000000000000002],[-3.2000000000000002],[-0.80000000000000004],[2.2999999999999998],[0.5],[-4.2000000000000002],[6.4000000000000004],[-3.6000000000000001],[4.5999999999999996],[-4.7999999999999998],[5.7999999999999998],[5.9000000000000004],[-5.0999999999999996],[-5.7000000000000002],[19.899999999999999],[-6.2999999999999998],[0.59999999999999998],[-8.0999999999999996],[5.7000000000000002],[-2.3999999999999999],[10.4],[-18.199999999999999],[9.9000000000000004],[1.2],[-2.8999999999999999],[-7.2000000000000002],[10.5],[-3],[-2.2000000000000002],[-4.5]]]

[]

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Pension (superannuation) funds

Financial assets

Pension (superannuation) funds' selected financial assets, $b
	Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total assets	30.8	2,975.9	23.7	2,985.6	19.2	3,122.8
Deposits	5.6	287.4	8.1	296.1	2.9	297.9
Debt securities	14.5	216.6	10.8	228.7	8.8	240.4
Shares and equity	11.8	2,411.5	15.9	2,399.7	15.2	2,514.2
	Other private non-fin corps	4.7	450.6	4.5	445.6	0.1	476.4
	Non-money market investment funds	-2.6	929.6	4.0	926.1	3.8	956.6
	Rest of world	4.1	552.6	3.8	547.8	6.4	586.4
Net equity in life offices	-0.4	14.0	-0.3	13.7	-0.5	13.8
Other assets	-0.6	46.3	-10.8	47.5	-7.2	56.6

Liabilities

Pension (superannuation) funds' selected liabilities, $b
		Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total liabilities	31.1	3,209.4	23.0	3,221.2	14.9	3,357.0
Net equity in reserves	36.2	3,159.5	23.3	3,168.6	25.5	3,308.9
	Households	35.9	3,153.8	23.1	3,162.9	25.2	3,302.3
Other liabilities	-5.1	49.9	-0.3	52.6	-10.6	48.1

Total financial assets of pension (superannuation funds) increased by 4.6% ($137.2b), with a:

$114.5b increase in equities
$13.1b increase in bonds
$1.8b increase in deposits

Pension funds acquired $15.2b in shares and other equity and $10.1b in bonds. Revaluation gains of $99.2b in shares and other equity this quarter reflected favourable economic conditions in domestic and overseas markets. Pension funds acquired bonds issued by the Commonwealth government and ADIs. Pension funds placed $2.9b in deposit accounts, the weakest since September quarter 2022, coinciding with just one increase to cash rate during the quarter.

Pension funds' financial assets
	Total assets (RHS) ($b)	Revaluations (LHS) ($b)	Transactions (LHS) ($b)
Dec-10	1,190.9	29.3	15.4
Mar-11	1,218.2	10.2	17.1
Jun-11	1,209	-34.8	25.7
Sep-11	1,136.8	-83.4	11.1
Dec-11	1,146.6	-3.3	13.1
Mar-12	1,207.1	41.8	18.7
Jun-12	1,202.4	-37.7	33.1
Sep-12	1,247.2	30.7	14.1
Dec-12	1,298.2	34.2	16.7
Mar-13	1,361.1	43.8	19.1
Jun-13	1,378.8	-20.6	38.2
Sep-13	1,454.8	62.5	13.5
Dec-13	1,508.7	28.7	25.2
Mar-14	1,544.3	14.8	20.8
Jun-14	1,575.8	-0.5	32.0
Sep-14	1,611.6	11.8	24.1
Dec-14	1,665.8	32.3	21.9
Mar-15	1,762.5	79.9	16.8
Jun-15	1,745	-52.3	34.8
Sep-15	1,719	-45.6	19.6
Dec-15	1,775.1	39.5	16.5
Mar-16	1,748.7	-33.8	7.5
Jun-16	1,821.6	42.7	30.2
Sep-16	1,895.5	61.4	12.5
Dec-16	1,947.7	33.0	19.3
Mar-17	2,001.8	35.0	19.1
Jun-17	2,050.6	9.3	39.5
Sep-17	2,064.4	2.9	10.8
Dec-17	2,158.1	73.0	20.8
Mar-18	2,143.7	-29.5	15.1
Jun-18	2,217.9	50.4	23.8
Sep-18	2,263.3	32.4	13.0
Dec-18	2,150.2	-127.5	14.5
Mar-19	2,281.1	116.2	14.7
Jun-19	2,382.9	74.7	27.1
Sep-19	2,441.6	46.7	12.0
Dec-19	2,494.9	30.0	23.3
Mar-20	2,239.1	-269.7	13.9
Jun-20	2,376.3	130.3	7.0
Sep-20	2,409.6	25.3	8.0
Dec-20	2,569.7	143.0	17.1
Mar-21	2,639.8	49.2	20.8
Jun-21	2,799	124.0	35.2
Sep-21	2,854.6	39.6	16.0
Dec-21	2,929.4	59.3	15.5
Mar-22	2,870.9	-72.9	14.4
Jun-22	2,700.3	-201.0	30.4
Sep-22	2,707.6	-11.2	18.5
Dec-22	2,802.1	81.6	12.8
Mar-23	2,911.9	82.5	27.4
Jun-23	2,975.9	33.1	30.8
Sep-23	2,985.6	-14.0	23.7
Dec-23	3,122.8	118.0	19.2

Pension funds' financial assets

["","Total assets (RHS)","Revaluations (LHS)","Transactions (LHS)"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[1190.9000000000001],[1218.2],[1209],[1136.8],[1146.5999999999999],[1207.0999999999999],[1202.4000000000001],[1247.2],[1298.2],[1361.0999999999999],[1378.8],[1454.8],[1508.7],[1544.3],[1575.8],[1611.5999999999999],[1665.8],[1762.5],[1745],[1719],[1775.0999999999999],[1748.7],[1821.5999999999999],[1895.5],[1947.7],[2001.8],[2050.5999999999999],[2064.4000000000001],[2158.0999999999999],[2143.6999999999998],[2217.9000000000001],[2263.3000000000002],[2150.1999999999998],[2281.0999999999999],[2382.9000000000001],[2441.5999999999999],[2494.9000000000001],[2239.0999999999999],[2376.3000000000002],[2409.5999999999999],[2569.6999999999998],[2639.8000000000002],[2799],[2854.5999999999999],[2929.4000000000001],[2870.9000000000001],[2700.3000000000002],[2707.5999999999999],[2802.0999999999999],[2911.9000000000001],[2975.9000000000001],[2985.5999999999999],[3122.8000000000002]],[[29.300000000000001],[10.199999999999999],[-34.799999999999997],[-83.400000000000006],[-3.2999999999999998],[41.799999999999997],[-37.700000000000003],[30.699999999999999],[34.200000000000003],[43.799999999999997],[-20.600000000000001],[62.5],[28.699999999999999],[14.800000000000001],[-0.5],[11.800000000000001],[32.299999999999997],[79.900000000000006],[-52.299999999999997],[-45.600000000000001],[39.5],[-33.799999999999997],[42.700000000000003],[61.399999999999999],[33],[35],[9.3000000000000007],[2.8999999999999999],[73],[-29.5],[50.399999999999999],[32.399999999999999],[-127.5],[116.2],[74.700000000000003],[46.700000000000003],[30],[-269.69999999999999],[130.30000000000001],[25.300000000000001],[143],[49.200000000000003],[124],[39.600000000000001],[59.299999999999997],[-72.900000000000006],[-201],[-11.199999999999999],[81.599999999999994],[82.5],[33.100000000000001],[-14],[118]],[[15.4],[17.100000000000001],[25.699999999999999],[11.1],[13.1],[18.699999999999999],[33.100000000000001],[14.1],[16.699999999999999],[19.100000000000001],[38.200000000000003],[13.5],[25.199999999999999],[20.800000000000001],[32],[24.100000000000001],[21.899999999999999],[16.800000000000001],[34.799999999999997],[19.600000000000001],[16.5],[7.5],[30.199999999999999],[12.5],[19.300000000000001],[19.100000000000001],[39.5],[10.800000000000001],[20.800000000000001],[15.1],[23.800000000000001],[13],[14.5],[14.699999999999999],[27.100000000000001],[12],[23.300000000000001],[13.9],[7],[8],[17.100000000000001],[20.800000000000001],[35.200000000000003],[16],[15.5],[14.4],[30.399999999999999],[18.5],[12.800000000000001],[27.399999999999999],[30.800000000000001],[23.699999999999999],[19.199999999999999]]]

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Government

National general government financial assets

National general government selected financial assets, $b
	Transactions, Jun-23	Amounts outstanding, Jun-23	Transactions, Sep-23	Amounts outstanding, Sep-23	Transactions, Dec-23	Amounts outstanding, Dec-23
Total assets	3.8	720.9	2.0	723.4	13.1	741.5
Deposits	8.7	125.8	-4.1	122.3	1.3	122.5
	Central bank	11.0	98.3	-4.9	93.3	0.1	93.5
	Authorised deposit taking institutions	-1.4	21.1	0.8	22.0	-2.1	19.8
One name paper	5.5	37.5	-5.0	32.6	3.1	35.6
Shares and equity	-2.0	184.1	-0.6	181.6	0.7	186.5
Other assets	-8.4	373.5	11.6	386.9	7.9	397.0

National general government liabilities

National general government selected liabilities, $b
	Transactions, Jun-23	Amounts Outstanding, Jun-23	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23
Total liabilities	-5.4	1,234.1	8.6	1,237.5	14.2	1,271.9
One name paper	-4.1	26.3	0.9	27.2	0.4	27.6
Bonds	-13.6	812.1	9.5	814.2	17.3	853.2
	Central bank	-12.4	250.8	4.7	253.0	-1.6	258.2
	Authorised deposit taking institutions	9.5	85.1	-8.3	76.1	0.0	78.0
	Rest of world	-13.6	373.4	7.5	377.7	16.0	404.8
Other liabilities	12.3	395.7	-1.8	396.1	-3.5	391.1

State and local general government financial assets

State and local general government selected financial assets, $b
	Transactions, Jun-23	Amounts Outstanding, Jun-23	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23
Total assets	10.2	694.0	-8.6	694.5	-8.4	696.7
Deposits	2.9	107.0	-6.8	100.2	-9.3	90.8
Loans and placements	6.0	75.6	-3.9	71.7	-1.3	70.4
Shares and equity	0.3	480.4	0.6	490.1	1.2	501.6
	State and local PNFCs	0.0	347.8	0.0	352.8	0.0	373.1
	Other private non-fin corps	0.3	40.8	0.1	40.7	-0.1	41.2
Other assets	1.0	31.0	1.6	32.5	1.0	33.9

State and local general government liabilities

State and local general government selected liabilities, $b
	Transactions, Jun-23	Amounts Outstanding, Jun-23	Transactions, Sep-23	Amounts Outstanding, Sep-23	Transactions, Dec-23	Amounts Outstanding, Dec-23
Total liabilities	17.7	589.5	10.4	597.2	18.3	614.4
Loans and placements	14.1	386.0	8.0	394.1	15.7	409.8
	Central borrowing authorities	10.5	355.3	15.4	370.7	17.8	388.5
Unfunded superannuation claims	0.7	113.8	0.7	112.1	0.6	111.4
Other liabilities	2.8	89.6	1.7	91.0	2.0	93.3

General government

General government (national, and state and local) were net borrowers of $27.8b. This was driven by a:

$18.1b net issuance of bond liabilities
$16.0b borrowing of loans
$8.0b withdrawal of deposit assets

National general government were net borrowers of $1.2b this quarter. The national general government's position was driven by a:

$17.3b net issuance of bond liabilities

The total value of treasury bonds outstanding ($853.2b) increased for the third consecutive quarter as a result of new bond issuance and the market value increasing due to falling treasury bond yields. Bond issuance was used to fund government investment in infrastructure and other policy priorities.

State and local general government were net borrowers of $26.7b this quarter. The state and local general government's position was mainly driven by a:

$15.7b borrowing of loans
$9.3b withdrawal of deposit assets

Loan liabilities of state and local general governments grew for the seventh consecutive quarter. They reached record levels of $409.8b as state governments sourced funding for infrastructure and operating expenses.

General government's change in financial position
	Net lending/borrowing ($b)	Deposits ($b)	Notes ($b)	Bonds ($b)	Loans ($b)	Other ($b)
Dec-10	-16.3	-2.5	0.2	-11.6	3.8	-6.1
Mar-11	-17.1	2.0	0.3	-12.5	-4.2	-2.8
Jun-11	-19.8	8.0	1.2	-10.4	-7.3	-11.3
Sep-11	-25.8	-3.5	-0.3	-21.3	-9.0	8.3
Dec-11	-14.9	11.3	0.9	-22.0	-2.1	-2.9
Mar-12	-13.2	3.4	-1.7	-13.8	-0.3	-0.7
Jun-12	-30.1	-7.4	1.4	-4.9	-5.0	-14.2
Sep-12	-24.3	9.3	-3.5	-15.2	-15.5	0.5
Dec-12	-12.4	2.9	-5.3	-10.8	6.3	-5.5
Mar-13	-15.5	0.5	1.8	-13.3	-2.1	-2.4
Jun-13	-14.0	1.0	14.3	-8.7	0.6	-21.2
Sep-13	-20.2	6.0	-1.5	-24.7	-11.3	11.4
Dec-13	-10.9	5.6	-0.4	-16.4	-0.3	0.7
Mar-14	-11.0	13.5	8.6	-27.8	-2.5	-2.8
Jun-14	-10.2	-8.4	-3.3	-4.6	1.0	5.1
Sep-14	-18.4	6.5	-1.7	-18.4	-4.5	-0.3
Dec-14	-10.0	0.4	-1.1	-10.8	3.3	-1.8
Mar-15	-3.6	12.2	3.5	-16.0	0.4	-3.8
Jun-15	-8.4	-5.1	-0.2	-7.3	2.1	2.2
Sep-15	-15.0	1.9	-1.9	-26.3	-1.3	12.6
Dec-15	-7.2	-7.0	5.8	-7.6	6.8	-5.2
Mar-16	-8.8	9.3	1.7	-22.1	1.5	0.8
Jun-16	-6.0	1.1	0.5	-4.8	-0.4	-2.3
Sep-16	-22.1	-3.1	3.7	-24.0	-0.7	1.9
Dec-16	-24.1	11.5	0.8	-23.7	4.6	-17.3
Mar-17	2.2	7.9	0.5	-20.7	2.2	12.3
Jun-17	-12.8	15.7	6.9	-19.8	-0.5	-15.2
Sep-17	-18.7	-24.2	0.5	-0.9	-4.0	9.8
Dec-17	-2.6	8.6	-5.6	-14.7	1.7	7.4
Mar-18	-0.9	-1.0	-2.2	-5.1	1.6	5.8
Jun-18	-0.2	5.0	6.2	-11.3	6.2	-6.3
Sep-18	-18.5	-3.3	-0.3	-2.4	-1.8	-10.7
Dec-18	-9.2	-18.2	2.0	-2.3	-3.1	12.4
Mar-19	-0.3	-1.4	1.6	3.7	0.4	-4.7
Jun-19	-9.2	6.6	0.1	-10.5	-2.5	-3.0
Sep-19	-22.9	0.3	-1.3	-13.7	-8.6	0.3
Dec-19	-14.2	-7.7	-4.0	1.0	-6.3	2.8
Mar-20	-14.3	21.1	-16.3	-15.7	-12.7	9.3
Jun-20	-89.0	46.9	-25.8	-71.0	-26.0	-13.1
Sep-20	-102.6	42.4	0.1	-117.2	-30.6	2.7
Dec-20	-45.6	-32.3	16.5	-23.0	-21.7	14.9
Mar-21	-18.1	-15.0	14.0	-21.9	-0.5	5.3
Jun-21	-15.5	1.1	4.6	-5.7	1.1	-16.7
Sep-21	-43.4	9.6	0.0	-23.9	-26.7	-2.5
Dec-21	-25.6	8.8	-5.2	-8.4	-5.8	-15.1
Mar-22	-1.5	3.1	3.5	-18.3	0.3	9.9
Jun-22	-16.1	34.3	-8.6	-26.0	-16.2	0.4
Sep-22	-28.4	-6.6	1.3	4.6	-18.8	-8.9
Dec-22	-14.9	-14.2	-0.5	-1.5	-7.4	8.5
Mar-23	12.0	18.6	-4.9	-11.5	-2.2	11.9
Jun-23	1.6	11.6	10.0	14.9	-9.0	-25.8
Sep-23	-25.6	-10.9	-5.8	-7.2	-12.6	11.0
Dec-23	-27.8	-8.0	3.8	-15.4	-17.4	9.1

General government's change in financial position

["","Net lending\/borrowing","Deposits","Notes","Bonds","Loans","Other"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[-16.300000000000001],[-17.100000000000001],[-19.800000000000001],[-25.800000000000001],[-14.9],[-13.199999999999999],[-30.100000000000001],[-24.300000000000001],[-12.4],[-15.5],[-14],[-20.199999999999999],[-10.9],[-11],[-10.199999999999999],[-18.399999999999999],[-10],[-3.6000000000000001],[-8.4000000000000004],[-15],[-7.2000000000000002],[-8.8000000000000007],[-6],[-22.100000000000001],[-24.100000000000001],[2.2000000000000002],[-12.800000000000001],[-18.699999999999999],[-2.6000000000000001],[-0.90000000000000002],[-0.20000000000000001],[-18.5],[-9.1999999999999993],[-0.29999999999999999],[-9.1999999999999993],[-22.899999999999999],[-14.199999999999999],[-14.300000000000001],[-89],[-102.59999999999999],[-45.600000000000001],[-18.100000000000001],[-15.5],[-43.399999999999999],[-25.600000000000001],[-1.5],[-16.100000000000001],[-28.399999999999999],[-14.9],[12],[1.6000000000000001],[-25.600000000000001],[-27.800000000000001]],[[-2.5],[2],[8],[-3.5],[11.300000000000001],[3.3999999999999999],[-7.4000000000000004],[9.3000000000000007],[2.8999999999999999],[0.5],[1],[6],[5.5999999999999996],[13.5],[-8.4000000000000004],[6.5],[0.40000000000000002],[12.199999999999999],[-5.0999999999999996],[1.8999999999999999],[-7],[9.3000000000000007],[1.1000000000000001],[-3.1000000000000001],[11.5],[7.9000000000000004],[15.699999999999999],[-24.199999999999999],[8.5999999999999996],[-1],[5],[-3.2999999999999998],[-18.199999999999999],[-1.3999999999999999],[6.5999999999999996],[0.29999999999999999],[-7.7000000000000002],[21.100000000000001],[46.899999999999999],[42.399999999999999],[-32.299999999999997],[-15],[1.1000000000000001],[9.5999999999999996],[8.8000000000000007],[3.1000000000000001],[34.299999999999997],[-6.5999999999999996],[-14.199999999999999],[18.600000000000001],[11.6],[-10.9],[-8]],[[0.20000000000000001],[0.29999999999999999],[1.2],[-0.29999999999999999],[0.90000000000000002],[-1.7],[1.3999999999999999],[-3.5],[-5.2999999999999998],[1.8],[14.300000000000001],[-1.5],[-0.40000000000000002],[8.5999999999999996],[-3.2999999999999998],[-1.7],[-1.1000000000000001],[3.5],[-0.20000000000000001],[-1.8999999999999999],[5.7999999999999998],[1.7],[0.5],[3.7000000000000002],[0.80000000000000004],[0.5],[6.9000000000000004],[0.5],[-5.5999999999999996],[-2.2000000000000002],[6.2000000000000002],[-0.29999999999999999],[2],[1.6000000000000001],[0.10000000000000001],[-1.3],[-4],[-16.300000000000001],[-25.800000000000001],[0.10000000000000001],[16.5],[14],[4.5999999999999996],[0],[-5.2000000000000002],[3.5],[-8.5999999999999996],[1.3],[-0.5],[-4.9000000000000004],[10],[-5.7999999999999998],[3.7999999999999998]],[[-11.6],[-12.5],[-10.4],[-21.300000000000001],[-22],[-13.800000000000001],[-4.9000000000000004],[-15.199999999999999],[-10.800000000000001],[-13.300000000000001],[-8.6999999999999993],[-24.699999999999999],[-16.399999999999999],[-27.800000000000001],[-4.5999999999999996],[-18.399999999999999],[-10.800000000000001],[-16],[-7.2999999999999998],[-26.300000000000001],[-7.5999999999999996],[-22.100000000000001],[-4.7999999999999998],[-24],[-23.699999999999999],[-20.699999999999999],[-19.800000000000001],[-0.90000000000000002],[-14.699999999999999],[-5.0999999999999996],[-11.300000000000001],[-2.3999999999999999],[-2.2999999999999998],[3.7000000000000002],[-10.5],[-13.699999999999999],[1],[-15.699999999999999],[-71],[-117.2],[-23],[-21.899999999999999],[-5.7000000000000002],[-23.899999999999999],[-8.4000000000000004],[-18.300000000000001],[-26],[4.5999999999999996],[-1.5],[-11.5],[14.9],[-7.2000000000000002],[-15.4]],[[3.7999999999999998],[-4.2000000000000002],[-7.2999999999999998],[-9],[-2.1000000000000001],[-0.29999999999999999],[-5],[-15.5],[6.2999999999999998],[-2.1000000000000001],[0.59999999999999998],[-11.300000000000001],[-0.29999999999999999],[-2.5],[1],[-4.5],[3.2999999999999998],[0.40000000000000002],[2.1000000000000001],[-1.3],[6.7999999999999998],[1.5],[-0.40000000000000002],[-0.69999999999999996],[4.5999999999999996],[2.2000000000000002],[-0.5],[-4],[1.7],[1.6000000000000001],[6.2000000000000002],[-1.8],[-3.1000000000000001],[0.40000000000000002],[-2.5],[-8.5999999999999996],[-6.2999999999999998],[-12.699999999999999],[-26],[-30.600000000000001],[-21.699999999999999],[-0.5],[1.1000000000000001],[-26.699999999999999],[-5.7999999999999998],[0.29999999999999999],[-16.199999999999999],[-18.800000000000001],[-7.4000000000000004],[-2.2000000000000002],[-9],[-12.6],[-17.399999999999999]],[[-6.0999999999999996],[-2.7999999999999998],[-11.300000000000001],[8.3000000000000007],[-2.8999999999999999],[-0.69999999999999996],[-14.199999999999999],[0.5],[-5.5],[-2.3999999999999999],[-21.199999999999999],[11.4],[0.69999999999999996],[-2.7999999999999998],[5.0999999999999996],[-0.29999999999999999],[-1.8],[-3.7999999999999998],[2.2000000000000002],[12.6],[-5.2000000000000002],[0.80000000000000004],[-2.2999999999999998],[1.8999999999999999],[-17.300000000000001],[12.300000000000001],[-15.199999999999999],[9.8000000000000007],[7.4000000000000004],[5.7999999999999998],[-6.2999999999999998],[-10.699999999999999],[12.4],[-4.7000000000000002],[-3],[0.29999999999999999],[2.7999999999999998],[9.3000000000000007],[-13.1],[2.7000000000000002],[14.9],[5.2999999999999998],[-16.699999999999999],[-2.5],[-15.1],[9.9000000000000004],[0.40000000000000002],[-8.9000000000000004],[8.5],[11.9],[-25.800000000000001],[11],[9.0999999999999996]]]

[]

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(a) "Other" includes gold and special drawing rights, currency, bills of exchange, derivatives, shares and equity, unfunded superannuation and accounts payable/receivable.

Capital investment

Figures in the capital investment section are in seasonally adjusted current prices.

Net lending (+) / borrowing (-)

Australia's net lending position rose by $10.6b to $11.6b this quarter.

This was driven by a:

$4.4b decrease in change in inventories
$2.4b increase in net savings

Partly offset by a:

$1.1b increase in gross fixed capital formation

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted
	Net lending / net borrowing relative to GDP (%)
Dec-66	-1.9
Mar-67	-2.6
Jun-67	-1.9
Sep-67	-2.9
Dec-67	-2.9
Mar-68	-5.2
Jun-68	-3.2
Sep-68	-3.7
Dec-68	-2.4
Mar-69	-2.4
Jun-69	-2.3
Sep-69	-1.4
Dec-69	-1.7
Mar-70	-1.4
Jun-70	-1.9
Sep-70	-1.5
Dec-70	-1.7
Mar-71	-2.1
Jun-71	-1.1
Sep-71	-0.8
Dec-71	-1.4
Mar-72	-0.2
Jun-72	1.1
Sep-72	1.6
Dec-72	2.2
Mar-73	2.0
Jun-73	1.6
Sep-73	0.4
Dec-73	0.4
Mar-74	-1.9
Jun-74	-3.5
Sep-74	-3.1
Dec-74	-2.5
Mar-75	-0.4
Jun-75	0.1
Sep-75	-1.1
Dec-75	-1.9
Mar-76	-1.8
Jun-76	-1.1
Sep-76	-1.2
Dec-76	-1.8
Mar-77	-3.0
Jun-77	-2.9
Sep-77	-3.1
Dec-77	-1.2
Mar-78	-2.9
Jun-78	-3.1
Sep-78	-3.7
Dec-78	-3.6
Mar-79	-2.0
Jun-79	-2.0
Sep-79	-1.8
Dec-79	-0.7
Mar-80	-1.0
Jun-80	-1.8
Sep-80	-3.9
Dec-80	-3.3
Mar-81	-2.9
Jun-81	-4.2
Sep-81	-4.1
Dec-81	-5.4
Mar-82	-5.5
Jun-82	-4.8
Sep-82	-3.5
Dec-82	-3.4
Mar-83	-3.6
Jun-83	-3.0
Sep-83	-3.7
Dec-83	-2.9
Mar-84	-4.0
Jun-84	-3.5
Sep-84	-4.5
Dec-84	-5.2
Mar-85	-4.1
Jun-85	-4.5
Sep-85	-5.6
Dec-85	-5.7
Mar-86	-6.0
Jun-86	-5.6
Sep-86	-4.8
Dec-86	-4.3
Mar-87	-4.1
Jun-87	-3.2
Sep-87	-3.3
Dec-87	-3.3
Mar-88	-3.0
Jun-88	-2.9
Sep-88	-3.9
Dec-88	-4.9
Mar-89	-5.6
Jun-89	-6.0
Sep-89	-6.5
Dec-89	-6.3
Mar-90	-6.2
Jun-90	-4.4
Sep-90	-4.2
Dec-90	-4.9
Mar-91	-3.9
Jun-91	-3.3
Sep-91	-3.1
Dec-91	-3.0
Mar-92	-3.0
Jun-92	-3.3
Sep-92	-3.8
Dec-92	-3.2
Mar-93	-3.0
Jun-93	-3.2
Sep-93	-3.3
Dec-93	-2.9
Mar-94	-2.9
Jun-94	-4.4
Sep-94	-5.5
Dec-94	-5.4
Mar-95	-5.8
Jun-95	-5.1
Sep-95	-4.5
Dec-95	-4.9
Mar-96	-4.0
Jun-96	-2.8
Sep-96	-3.9
Dec-96	-3.4
Mar-97	-3.0
Jun-97	-2.0
Sep-97	-3.1
Dec-97	-3.7
Mar-98	-5.1
Jun-98	-4.2
Sep-98	-5.6
Dec-98	-4.9
Mar-99	-5.7
Jun-99	-6.0
Sep-99	-5.7
Dec-99	-4.8
Mar-00	-4.9
Jun-00	-5.0
Sep-00	-3.4
Dec-00	-3.4
Mar-01	-2.5
Jun-01	-2.2
Sep-01	-1.7
Dec-01	-2.8
Mar-02	-2.7
Jun-02	-3.6
Sep-02	-3.9
Dec-02	-5.0
Mar-03	-5.0
Jun-03	-5.6
Sep-03	-5.3
Dec-03	-5.4
Mar-04	-5.7
Jun-04	-5.5
Sep-04	-6.6
Dec-04	-7.3
Mar-05	-6.6
Jun-05	-5.7
Sep-05	-6.0
Dec-05	-5.8
Mar-06	-5.5
Jun-06	-6.3
Sep-06	-5.8
Dec-06	-6.0
Mar-07	-6.1
Jun-07	-6.7
Sep-07	-6.9
Dec-07	-7.3
Mar-08	-6.8
Jun-08	-5.9
Sep-08	-4.0
Dec-08	-3.0
Mar-09	-1.5
Jun-09	-5.0
Sep-09	-5.2
Dec-09	-6.5
Mar-10	-5.5
Jun-10	-2.9
Sep-10	-3.0
Dec-10	-3.4
Mar-11	-3.4
Jun-11	-3.1
Sep-11	-2.6
Dec-11	-3.0
Mar-12	-4.6
Jun-12	-3.7
Sep-12	-4.4
Dec-12	-4.7
Mar-13	-3.5
Jun-13	-3.6
Sep-13	-3.7
Dec-13	-2.8
Mar-14	-2.6
Jun-14	-3.2
Sep-14	-3.4
Dec-14	-3.0
Mar-15	-3.3
Jun-15	-5.1
Sep-15	-4.9
Dec-15	-5.3
Mar-16	-4.3
Jun-16	-4.3
Sep-16	-3.4
Dec-16	-1.5
Mar-17	-2.0
Jun-17	-2.4
Sep-17	-2.7
Dec-17	-3.4
Mar-18	-2.6
Jun-18	-2.8
Sep-18	-2.2
Dec-18	-1.4
Mar-19	-1.0
Jun-19	0.6
Sep-19	1.3
Dec-19	0.3
Mar-20	0.9
Jun-20	3.0
Sep-20	2.1
Dec-20	2.6
Mar-21	3.6
Jun-21	3.4
Sep-21	3.9
Dec-21	0.8
Mar-22	0.4
Jun-22	1.9
Sep-22	0.1
Dec-22	1.6
Mar-23	1.6
Jun-23	1.2
Sep-23	0.2
Dec-23	1.7

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted

["","Net lending \/ net borrowing relative to GDP"]

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[]

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National net lending as a proportion of GDP increased this quarter, driven by a rise in net savings.

Financial corporations' net lending increased by $5.9b to $17.7b.
Non-financial corporations' net borrowing decreased by $10.7b to $1.9b.
General government net borrowing increased by $7.3b to $11.3b.
Households' net lending increased by $5.7b to $6.8b.

Notable drivers were:

Financial corporations' net lending was driven by an increase in net savings due to an increase in property income receivable from dividends and interest.
Non-financial corporations' net borrowing was driven by an increase in net savings from private non-financial corporations due to a decrease in property income payable from reinvested earnings and dividends and an increase in mining gross operating surplus.
General government net borrowing was driven by a decrease in net savings due to a decrease in tax receipts from individuals and increases in final consumption expenditure and social assistance benefits in cash to residents.
Households' net lending was driven by an increase in net savings due to increases in compensation of employees and social assistance benefits and a decrease in income tax payable.

Net lending (+) / borrowing (-), by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-10	-11.4	8.7	-15.5	9.8
Mar-11	-16.8	8.0	-17.2	11.3
Jun-11	-19.3	12.8	-16.7	10.4
Sep-11	-14.9	11.1	-16.3	12.3
Dec-11	-17.4	10.6	-19.5	15.6
Mar-12	-24.5	11.9	-14.2	11.0
Jun-12	-21.3	10.4	-19.1	13.3
Sep-12	-23.7	11.8	-13.3	6.7
Dec-12	-28.9	11.2	-11.8	9.8
Mar-13	-21.8	9.3	-14.0	12.1
Jun-13	-26.1	9.7	-4.5	10.8
Sep-13	-21.4	8.6	-11.8	9.8
Dec-13	-22.3	8.6	-11.3	11.6
Mar-14	-20.4	8.7	-12.3	11.8
Jun-14	-22.9	7.8	-9.0	13.6
Sep-14	-23.6	8.0	-10.3	10.8
Dec-14	-20.4	5.8	-10.4	10.4
Mar-15	-22.5	7.1	-8.3	9.2
Jun-15	-22.6	5.0	-7.2	10.9
Sep-15	-25.3	7.0	-6.9	7.5
Dec-15	-25.0	8.7	-7.0	3.8
Mar-16	-21.5	7.4	-11.2	3.6
Jun-16	-20.6	8.6	-11.8	4.2
Sep-16	-17.8	8.1	-10.6	3.9
Dec-16	-10.6	7.0	-5.7	2.3
Mar-17	-9.0	4.7	-3.0	2.6
Jun-17	-11.2	7.4	-8.5	0.8
Sep-17	-15.6	7.6	-5.1	0.8
Dec-17	-15.8	5.4	-6.6	3.7
Mar-18	-14.2	7.5	-6.2	2.8
Jun-18	-21.9	6.6	-5.2	1.2
Sep-18	-16.7	5.4	-4.7	2.9
Dec-18	-15.3	6.0	-7.5	7.1
Mar-19	-8.9	6.6	-7.9	10.8
Jun-19	-8.4	6.7	-6.4	9.0
Sep-19	-7.6	4.8	-11.3	17.1
Dec-19	-9.0	4.3	-12.1	14.8
Mar-20	-1.7	2.9	-14.7	23.8
Jun-20	25.8	13.6	-96.9	72.4
Sep-20	26.2	4.2	-85.8	62.0
Dec-20	16.8	3.9	-44.1	37.1
Mar-21	9.8	2.6	-25.9	36.5
Jun-21	4.5	4.5	-14.3	26.4
Sep-21	-6.9	4.0	-35.3	55.1
Dec-21	-3.2	1.3	-23.3	29.1
Mar-22	5.8	-5.2	-15.5	25.6
Jun-22	10.0	5.2	-14.1	14.9
Sep-22	-10.0	7.2	-13.8	15.3
Dec-22	-20.5	12.6	-3.0	3.6
Mar-23	9.5	5.3	-3.8	4.9
Jun-23	-1.2	11.6	-11.4	3.2
Sep-23	-12.7	11.8	-4.1	1.1
Dec-23	-1.9	17.7	-11.3	6.8

Net lending (+) / borrowing (-), by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

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[]

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Capital Investment

National capital investment decreased to 24.3% as a proportion of GDP, while increasing 0.7% in current price seasonally adjusted terms.

Relative to GDP:

Household capital investment decreased to 7.8%
Non-financial corporations' capital investment increased to 11.9%
Financial corporations' capital investment remained at 0.5%
General government capital investment decreased to 4.0%

In current price seasonally adjusted terms:

Non-financial corporations' capital investment increased, driven by increases in both private and public non-financial corporations
General government capital investment decreased, driven by a decrease in national general government

Gross fixed capital formation, by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Dec-10	46.7	2.1	14.0	28.3
Mar-11	49.1	2.2	13.6	29.0
Jun-11	50.3	2.2	12.2	29.0
Sep-11	56.4	2.2	12.8	28.3
Dec-11	55.6	2.2	15.3	27.5
Mar-12	61.0	2.3	12.3	27.4
Jun-12	64.0	2.3	13.7	27.3
Sep-12	63.8	2.5	13.1	28.0
Dec-12	65.9	2.5	12.7	28.3
Mar-13	62.1	2.5	13.2	28.0
Jun-13	62.5	2.5	11.6	29.0
Sep-13	63.4	2.4	12.3	29.6
Dec-13	63.0	2.3	12.7	30.2
Mar-14	60.7	2.4	13.1	31.1
Jun-14	59.6	2.4	13.0	31.6
Sep-14	56.8	2.7	13.0	33.4
Dec-14	56.2	2.8	12.5	35.2
Mar-15	55.0	2.7	12.3	36.3
Jun-15	54.5	2.6	13.1	36.2
Sep-15	52.6	2.9	12.1	37.9
Dec-15	51.8	2.9	12.3	38.1
Mar-16	49.3	2.8	14.3	38.5
Jun-16	47.3	2.8	14.9	39.5
Sep-16	45.4	2.8	13.8	40.0
Dec-16	47.3	2.8	14.4	40.9
Mar-17	46.6	2.8	15.7	41.1
Jun-17	45.6	2.8	18.3	41.4
Sep-17	51.1	2.5	16.7	40.6
Dec-17	50.0	3.0	17.4	40.8
Mar-18	50.7	3.0	17.3	42.0
Jun-18	50.6	3.0	18.1	42.8
Sep-18	51.8	3.0	18.5	41.4
Dec-18	51.4	3.0	18.8	40.3
Mar-19	51.9	2.9	19.0	39.1
Jun-19	52.3	3.0	19.4	38.2
Sep-19	53.4	2.8	19.5	38.1
Dec-19	52.8	2.8	20.3	38.0
Mar-20	52.6	2.7	19.8	38.3
Jun-20	51.0	2.5	19.4	35.7
Sep-20	50.7	2.6	19.0	36.5
Dec-20	52.0	2.7	20.1	39.2
Mar-21	54.4	2.8	20.1	42.4
Jun-21	56.6	2.9	22.0	45.1
Sep-21	58.2	3.0	21.6	45.5
Dec-21	59.8	3.0	21.8	46.9
Mar-22	61.5	3.0	22.7	48.6
Jun-22	64.8	3.2	24.1	48.8
Sep-22	67.4	2.9	23.8	49.0
Dec-22	69.4	3.0	24.0	49.2
Mar-23	72.3	3.0	25.1	49.7
Jun-23	76.8	3.2	27.3	51.9
Sep-23	77.5	3.3	27.0	51.9
Dec-23	79.2	3.3	26.7	51.7

Gross fixed capital formation, by sector, seasonally adjusted

["","Non-financial\u00a0corporations","Financial\u00a0corporations","General\u00a0government","Households"]

[["Dec-10","Mar-11","Jun-11","Sep-11","Dec-11","Mar-12","Jun-12","Sep-12","Dec-12","Mar-13","Jun-13","Sep-13","Dec-13","Mar-14","Jun-14","Sep-14","Dec-14","Mar-15","Jun-15","Sep-15","Dec-15","Mar-16","Jun-16","Sep-16","Dec-16","Mar-17","Jun-17","Sep-17","Dec-17","Mar-18","Jun-18","Sep-18","Dec-18","Mar-19","Jun-19","Sep-19","Dec-19","Mar-20","Jun-20","Sep-20","Dec-20","Mar-21","Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23"],[[46.700000000000003],[49.100000000000001],[50.299999999999997],[56.399999999999999],[55.600000000000001],[61],[64],[63.799999999999997],[65.900000000000006],[62.100000000000001],[62.5],[63.399999999999999],[63],[60.700000000000003],[59.600000000000001],[56.799999999999997],[56.200000000000003],[55],[54.5],[52.600000000000001],[51.799999999999997],[49.299999999999997],[47.299999999999997],[45.399999999999999],[47.299999999999997],[46.600000000000001],[45.600000000000001],[51.100000000000001],[50],[50.700000000000003],[50.600000000000001],[51.799999999999997],[51.399999999999999],[51.899999999999999],[52.299999999999997],[53.399999999999999],[52.799999999999997],[52.600000000000001],[51],[50.700000000000003],[52],[54.399999999999999],[56.600000000000001],[58.200000000000003],[59.799999999999997],[61.5],[64.799999999999997],[67.400000000000006],[69.400000000000006],[72.299999999999997],[76.799999999999997],[77.5],[79.200000000000003]],[[2.1000000000000001],[2.2000000000000002],[2.2000000000000002],[2.2000000000000002],[2.2000000000000002],[2.2999999999999998],[2.2999999999999998],[2.5],[2.5],[2.5],[2.5],[2.3999999999999999],[2.2999999999999998],[2.3999999999999999],[2.3999999999999999],[2.7000000000000002],[2.7999999999999998],[2.7000000000000002],[2.6000000000000001],[2.8999999999999999],[2.8999999999999999],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.7999999999999998],[2.5],[3],[3],[3],[3],[3],[2.8999999999999999],[3],[2.7999999999999998],[2.7999999999999998],[2.7000000000000002],[2.5],[2.6000000000000001],[2.7000000000000002],[2.7999999999999998],[2.8999999999999999],[3],[3],[3],[3.2000000000000002],[2.8999999999999999],[3],[3],[3.2000000000000002],[3.2999999999999998],[3.2999999999999998]],[[14],[13.6],[12.199999999999999],[12.800000000000001],[15.300000000000001],[12.300000000000001],[13.699999999999999],[13.1],[12.699999999999999],[13.199999999999999],[11.6],[12.300000000000001],[12.699999999999999],[13.1],[13],[13],[12.5],[12.300000000000001],[13.1],[12.1],[12.300000000000001],[14.300000000000001],[14.9],[13.800000000000001],[14.4],[15.699999999999999],[18.300000000000001],[16.699999999999999],[17.399999999999999],[17.300000000000001],[18.100000000000001],[18.5],[18.800000000000001],[19],[19.399999999999999],[19.5],[20.300000000000001],[19.800000000000001],[19.399999999999999],[19],[20.100000000000001],[20.100000000000001],[22],[21.600000000000001],[21.800000000000001],[22.699999999999999],[24.100000000000001],[23.800000000000001],[24],[25.100000000000001],[27.300000000000001],[27],[26.699999999999999]],[[28.300000000000001],[29],[29],[28.300000000000001],[27.5],[27.399999999999999],[27.300000000000001],[28],[28.300000000000001],[28],[29],[29.600000000000001],[30.199999999999999],[31.100000000000001],[31.600000000000001],[33.399999999999999],[35.200000000000003],[36.299999999999997],[36.200000000000003],[37.899999999999999],[38.100000000000001],[38.5],[39.5],[40],[40.899999999999999],[41.100000000000001],[41.399999999999999],[40.600000000000001],[40.799999999999997],[42],[42.799999999999997],[41.399999999999999],[40.299999999999997],[39.100000000000001],[38.200000000000003],[38.100000000000001],[38],[38.299999999999997],[35.700000000000003],[36.5],[39.200000000000003],[42.399999999999999],[45.100000000000001],[45.5],[46.899999999999999],[48.600000000000001],[48.799999999999997],[49],[49.200000000000003],[49.700000000000003],[51.899999999999999],[51.899999999999999],[51.700000000000003]]]

[]

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Data downloads

Download all (10.49 MB)

Time series spreadsheets

Data files

TABLE 1. Credit Market Outstandings ($ million)
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TABLE 2. Demand for Credit ($ million)
Download xlsx [249.12 KB]
TABLE 3. National Capital Account, Current prices ($ million)
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TABLE 4. National Financial Assets and Liabilities ($ million)
Download xlsx [103.73 KB]
TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)
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TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)
Download xlsx [374.54 KB]
TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [74.24 KB]
TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)
Download xlsx [370.24 KB]
TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)
Download xlsx [228.36 KB]
TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)
Download xlsx [374.35 KB]
TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [73.08 KB]
TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)
Download xlsx [262.42 KB]
TABLE 13. Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [72.97 KB]
TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)
Download xlsx [348.17 KB]
TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)
Download xlsx [161 KB]
TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)
Download xlsx [479.95 KB]
TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)
Download xlsx [312.63 KB]
TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)
Download xlsx [220.96 KB]
TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)
Download xlsx [70.54 KB]
TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)
Download xlsx [292.93 KB]
TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)
Download xlsx [290.11 KB]
TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)
Download xlsx [141.55 KB]
TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)
Download xlsx [269.5 KB]
TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)
Download xlsx [257.45 KB]
TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)
Download xlsx [200.44 KB]
TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)
Download xlsx [313.64 KB]
TABLE 27. General Government Capital Account, Current prices ($ million)
Download xlsx [77.01 KB]
TABLE 28. Financial Assets and Liabilities of General Government ($ million)
Download xlsx [299.18 KB]
TABLE 29. National General Government Capital Account, Current prices ($ million)
Download xlsx [76.3 KB]
TABLE 30. Financial Assets and Liabilities of National General Government ($ million)
Download xlsx [275.96 KB]
TABLE 31. State and Local General Government Capital Account, Current prices ($ million)
Download xlsx [76.41 KB]
TABLE 32. Financial Assets and Liabilities of State and Local General Government ($ million)
Download xlsx [189.18 KB]
TABLE 33. Household Capital Account, Current prices ($ million)
Download xlsx [76.43 KB]
TABLE 34. Financial Assets and Liabilities of Households ($ million)
Download xlsx [251.01 KB]
TABLE 35. Household Balance Sheet, Current prices ($ billion)
Download xlsx [79.43 KB]
TABLE 36. Analytical Measures of Household Income, Consumption, Saving and Wealth, Current prices ($ billion)
Download xlsx [66.58 KB]
TABLE 37. Rest of World Capital Account, Current prices ($ million)
Download xlsx [65.9 KB]
TABLE 38. Financial Assets and Liabilities of Rest of World ($ million)
Download xlsx [449.48 KB]
TABLE 39. The Currency Market ($ million)
Download xlsx [79.79 KB]
TABLE 40. The Transferable Deposits Market ($ million)
Download xlsx [114.02 KB]
TABLE 41. The Other Deposits Market ($ million)
Download xlsx [124.28 KB]
TABLE 42. The Bills of Exchange Market ($ million)
Download xlsx [104.82 KB]
TABLE 43. The One Name Paper Market ($ million)
Download xlsx [356.79 KB]
TABLE 44. The Bonds Market ($ million)
Download xlsx [455.37 KB]
TABLE 45. The Derivatives and Employee Stock Options Market ($ million)
Download xlsx [186.9 KB]
TABLE 46. The Short Term Loans and Placements Market ($ million)
Download xlsx [154.13 KB]
TABLE 47. The Long Term Loans and Placements Market ($ million)
Download xlsx [349.85 KB]
TABLE 48. The Listed Shares and Other Equity Market ($ million)
Download xlsx [252.28 KB]
TABLE 49. The Unlisted Shares and Other Equity Market ($ million)
Download xlsx [316.51 KB]
TABLE 50. Accounts Payable/Receivable ($ million)
Download xlsx [385.65 KB]
TABLE 51. Financial Accounts Summary of Authorised Deposit taking Institution Deposits and Lending Split by Household Subsectors ($ million)
Download xlsx [55.94 KB]
TABLE 52. Financial Accounts Summary of Loan Outstandings to Households for Housing by Type of Lending Institution ($ million)
Download xlsx [56.75 KB]
TABLE 53. Nominal Value of Short Term Loans and Placements Market ($ million)
Download xlsx [153.83 KB]
TABLE 54. Nominal Value of Long Term Loans and Placements Market ($ million)
Download xlsx [350.59 KB]

Previous catalogue number

This release previously used catalogue number 5232.0

Revisions and changes

Revisions in this issue

There have been revisions to previously published aggregates due to:

Quality assurance reviews affecting the published aggregates after December quarter 2021, in addition to amendments to data collected in the ABS Survey of Financial Information, ABS Survey of International Investment and to data derived from Australian Prudential Regulation Authority (APRA) administrative data sets.
Incorporation of revisions from the Australian System of National Accounts throughout the time series

AASB 17 accounting standard

The adoption of the AASB 17 accounting standard by the insurance industry has resulted in changes to reported data. Consequently, some of the estimates for life insurance corporations since the September quarter 2023 have been modelled. While these series continue to be published, users are advised to apply caution. The ABS is working with data providers to resolve these issues as quickly as possible.

Seasonal adjustment for leap years

The extra leap year day in 2024 is unlikely to impact seasonally adjusted statistics released by the Australian Bureau of Statistics (ABS) for February 2024 and March quarter 2024. This is because the effect of an additional leap year day is analysed and accounted for as part of the seasonal adjustment process, which includes the impact of trading days. The impact of the extra leap year day will be evident in the original (non-seasonally adjusted) series. For more information please refer to this note.

ABS Managed Funds publication

Consultation is being undertaken to investigate data scope and measurement limitations in the ABS Managed Funds publication. Whilst consultation is ongoing, the ABS anticipate pausing the Managed Funds publication in its current form while work is undertaken across agencies to uplift and enhance the collection of data on investment funds for ABS requirements. ABS survey data on public offer unit trusts are used in the compilation of associated sectors in the National Accounts: Finance and Wealth publication (tables 9 and 23). In this publication, adjustments are made to these sectors to account for scope and coverage, based on other counterparty information, though some underlying quality issues remain. Users are advised to apply caution when using these statistics and use the methodology and data quality notes when referencing any data points. For additional information please see the September quarter 2023 Managed Funds publication.

Methodology

Australian National Accounts: Finance and Wealth methodology, December 2023

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APA

Australian National Accounts: Finance and Wealth

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Key statistics

Main features

Financing resources and investment table

Financial market summary table

Flow of funds diagrams

Net transactions during December quarter 2023

Amounts outstanding at end of December quarter 2023

National investment

Financial investment

Households

General government

Demand for credit

Demand for credit table

Other private non-financial corporations

Households

General government

Households

Balance sheet

Financial assets

Liabilities

Non-financial assets

Financial assets

Liabilities

Private non-financial corporations

Financial assets

Liabilities

Other private non-financial corporations demand for credit

Financial corporations

Financial assets and liabilities

Authorised deposit-taking institutions (ADIs)

Financial assets

Liabilities

Pension (superannuation) funds

Financial assets

Liabilities

Government

National general government financial assets

National general government liabilities

State and local general government financial assets

State and local general government liabilities

General government

Capital investment

Net lending (+) / borrowing (-)

Capital Investment

Data downloads

Time series spreadsheets

TABLE 1. Credit Market Outstandings ($ million)

TABLE 2. Demand for Credit ($ million)

TABLE 3. National Capital Account, Current prices ($ million)

TABLE 4. National Financial Assets and Liabilities ($ million)

TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)

TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)

TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)

TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)

TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)

TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)

TABLE 13. Financial Corporations Capital Account, Current prices ($ million)

TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)

TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)

TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)

TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)

TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)

TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)

TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)

TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)

TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)

TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)

TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)

TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)

TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)

TABLE 27. General Government Capital Account, Current prices ($ million)

TABLE 28. Financial Assets and Liabilities of General Government ($ million)

TABLE 29. National General Government Capital Account, Current prices ($ million)

TABLE 30. Financial Assets and Liabilities of National General Government ($ million)

TABLE 31. State and Local General Government Capital Account, Current prices ($ million)