Financing resources and investment table
Non-financial corps | Financial corps | Government | Households | Total national | Rest of world | |||
---|---|---|---|---|---|---|---|---|
Financing resources | ||||||||
Net saving (a) | 27.9 | 15.3 | -89.0 | 78.1 | 32.2 | -7.8 | ||
plus Consumption of fixed capital | 43.7 | 3.2 | 11.2 | 31.4 | 89.5 | - | ||
Gross saving | 71.5 | 18.4 | -77.7 | 109.5 | 121.7 | -7.8 | ||
plus Net capital transfers | 0.9 | 0.0 | -2.8 | 1.7 | -0.2 | 0.2 | ||
less Statistical discrepancy (b) | - | - | - | - | 6.9 | - | ||
Total financing resources | 72.4 | 18.4 | -80.6 | 111.2 | 114.7 | -7.6 | ||
Uses of financing (investment) | ||||||||
Capital formation | ||||||||
Gross fixed capital formation | 47.5 | 2.6 | 17.3 | 37.4 | 104.8 | - | ||
plus Changes in inventories | 3.3 | 0.0 | 0.5 | -1.6 | 2.3 | - | ||
plus Net acquisition of non-produced non-financial assets | -0.1 | - | 0.1 | - | - | - | ||
Total capital formation | 50.6 | 2.6 | 18.0 | 35.8 | 107.1 | - | ||
plus Financial investment | ||||||||
Aquistition of financial assets | 47.7 | 60.8 | 38.1 | 82.4 | -7.6 | -16.8 | ||
less Incurrence of financial liabilities | 4.6 | 53.6 | 156.1 | 5.5 | -16.8 | -7.6 | ||
Net Financial investment (Net lending (+) / net borrowing (-)) | 43.1 | 7.2 | -118.0 | 76.9 | 9.1 | -9.1 | ||
less Net errors and omissions | 21.3 | -8.6 | -19.5 | 1.5 | 1.5 | -1.5 | ||
Total investment | 72.4 | 18.4 | -80.6 | 111.2 | 114.7 | -7.6 |
- nil or rounded to zero
(a) Net saving for the rest of world is the balance on the external income account.
(b) The statistical discrepancy is not able to be distributed among the sectors.
Financial market summary table
Amounts outstanding, Jun-20 | Transactions, Sep-20 | Other changes, Sep-20 | Amounts outstanding, Sep-20 | ||
---|---|---|---|---|---|
Currency and deposits | |||||
Currency | 94.2 | 5.3 | - | 99.5 | |
Transferable deposits | 1,395.5 | 71.3 | -1.7 | 1,465.2 | |
Other deposits | 1,498.0 | 7.1 | -4.9 | 1,500.2 | |
Short term debt securities | |||||
Bills of exchange | 16.1 | -1.9 | - | 14.2 | |
One name paper | 508.4 | -23.8 | -3.7 | 480.9 | |
Long term debt securities | |||||
Bonds, etc. | 3,150.3 | 74.0 | 12.3 | 3,236.6 | |
Derivatives | |||||
Derivatives | 994.0 | -123.8 | 25.3 | 895.4 | |
Loans and placements | |||||
Short term | 437.7 | -29.0 | -5.0 | 403.8 | |
Long term | 4,071.0 | 29.4 | -17.6 | 4,082.8 | |
Shares and other equity | |||||
Listed | 1,905.9 | 13.1 | 24.8 | 1,943.8 | |
Unlisted | 4,805.4 | 67.6 | -20.7 | 4,852.2 | |
Insurance technical reserves | |||||
Reserves of pension funds and life | 2,641.8 | 7.3 | 30.0 | 2,679.0 | |
General insurance payments | 130.4 | 3.9 | - | 134.3 |
- nil or rounded to zero
Flow of funds diagrams
Image
Net transactions during September quarter 2020
Description
Net transactions during September quarter 2020
Image
Amounts outstanding at end of September quarter 2020
Description
Amounts outstanding at end of September quarter 2020
National investment
National investment fell by $0.9b to $107.1b in the September quarter.
General government investment decreased by $8.3b to $18.0b driven by a fall in state and local capital investment.
Non-financial corporations' investment increased by $6.5b to $50.6b. This was driven by a $3.3b build up of inventories, as the retail trade industry sought to replenish inventory stock levels in preparation for end of year sale events and eased restrictions.
Household investment rose to $35.8b, up from $34.9b in the last quarter.
Financial investment
Australia was a net lender of $9.1b, the sixth consecutive quarter of net lending. The main contributors were:
- $30.0b in net maturities of debt securities (one name paper and bonds) issued by authorised deposit-taking institutions (ADIs) and held by rest of world (ROW)
- $55.5b investment in ROW equities driven by non-money market funds and pension funds
The availability of low-cost funding offered by the RBA’s term funding facility has reduced ADI’s need to seek new debt funding from overseas. Non-money market funds and pension funds sought increased returns in overseas markets as economic conditions improved.
Households
Households' $76.9b net lending position was the result of a $82.4b acquisition of assets and a $5.5b incurrence of liabilities, driven by:
- $63.9b increase in deposits
- $8.2b increase in loan liabilities
The increase in deposits reflects increased household saving, and continuing government income support packages such as JobKeeper, economic support payments, and early access to superannuation. The increase in loan liabilities is consistent with the draw down of new housing loans commitments from early in the quarter, as easing social distancing measures boosted housing market activity.
Non-financial corporations
Non-financial corporations' $43.1b net lending position was due to a $47.7b acquisition of financial assets and a $4.6b increase in liabilities. The increase in assets was driven by:
- $18.6b increase in deposits
- $13.4b increase in equity investments offshore
Deposits increased as non-financial corporations continued to maintain high levels of liquidity. With overseas financial markets recovering, non-financial corporations also took advantage of investment opportunities, increasing their equity holdings offshore
General government
General government's $118.0b net borrowing position was due to a $156.1b increase in liabilities, driven by:
- $117.7b record net issuance of debt securities (one name paper and bonds)
- $29.4b increase in loan liabilities
The increases in debt security issuance and loan liabilities reflect the continued raising of funds to finance COVID-19 related economic support policies.