Australian National Accounts: Finance and Wealth

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

Reference period

September 2021

Released

16/12/2021

View all releases

Release date and time

16/12/2021 11:30am AEDT

Key statistics

Household wealth rose $590.0b (4.4%) to a record $13,918.5b
Demand for credit was $126.3b, an increase of $49.6b
Australia's net lending position fell $2.5b to $21.7b
Capital investment as a proportion of GDP rose to 23.4%

Main features

Technical note

This quarter's Finance and Wealth includes the following technical note:

Incorporation of a New Derivatives Data Collection

Financing resources and investment table

Financing resources and investment September quarter 2021, original, current prices, $b
			Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Financing resources
	Net saving (a)	-1.7	12.8	-40.5	84.4	55.1	-21.4
	plus Consumption of fixed capital	44.5	3.2	11.3	32.6	91.6	-
	Gross saving	42.9	16.0	-29.2	117.0	146.7	-21.4
	plus Net capital transfers	0.6	0.0	-2.6	1.8	-0.2	0.2
	less Statistical discrepancy (b)	-	-	-	-	4.9	-
	Total financing resources	43.5	16.0	-31.7	118.8	141.6	-21.2
Uses of financing (investment)
	Capital formation
		Gross fixed capital formation	54.1	2.9	19.6	47.3	123.9	-
		plus Changes in inventories	-0.8	0.0	-0.2	-2.6	-3.5	-
		plus Net acquisition of non-produced non-financial assets	-0.3	-	0.3	-	-	-
		Total capital formation	53.0	2.9	19.8	44.7	120.4	-
	plus Financial investment
		Aquistition of financial assets	31.7	146.7	17.5	111.1	48.0	26.3
		less Incurrence of financial liabilities	45.7	130.6	63.8	45.2	26.3	48.0
		Net Financial investment (Net lending (+) / net borrowing (-))	-14.0	16.0	-46.2	65.9	21.7	-21.7
	less Net errors and omissions	-4.5	2.9	5.3	-8.2	0.5	-0.5
	Total investment	43.5	16.0	-31.7	118.8	141.6	-21.2

Financial market summary table

Financial market summary, $b
		Amounts outstanding, Jun-21	Transactions, Sep-21	Other changes, Sep-21	Amounts outstanding, Sep-21
Currency and deposits
	Currency	99.7	3.6	-	103.3
	Transferable deposits	1,957.5	126.4	4.3	2,088.3
	Other deposits	1,342.0	29.1	7.5	1,378.7
Short term debt securities
	Bills of exchange	10.7	-0.9	-	9.8
	One name paper	446.3	8.2	7.6	462.1
Long term debt securities
	Bonds, etc.	3,164.3	39.4	19.2	3,222.9
Derivatives
	Derivatives	726.7	-138.3	99.5	687.9
Loans and placements
	Short term	380.0	13.1	2.0	395.1
	Long term	4,157.0	72.1	5.6	4,234.7
Shares and other equity
	Listed	2,523.8	5.7	26.3	2,555.8
	Unlisted	5,340.7	105.6	50.5	5,496.7
Insurance technical reserves
	Reserves of pension funds and life	3,115.4	26.7	42.8	3,184.9
	General insurance payments	146.7	4.5	0.0	151.2

Flow of funds diagrams

National investment

National investment fell $11.0b to $120.4b in the September quarter.

General government investment decreased by $8.3b to $19.8b driven by a fall in gross fixed capital formation in both national and state and local general government.
Non-financial corporations' investment decreased by $2.6b to $53.0b, driven by a fall in gross fixed capital formation in both public and private non-financial corporations.
Household investment was flat, at $44.7b, driven by an increase in gross fixed capital formation offset by a fall in inventories.

Financial investment

Australia was a net lender of $21.7b, the tenth consecutive quarter of net lending. The main contributors were a:

$61.0b acquisition in rest of world (ROW) equities, driven by pension funds, other private non-financial corporations (OPNFC) and non-money market funds.
offset by $23.4b purchase of listed equities by ROW, issued by OPNFCs and authorised deposit taking institutions(ADI).

Pension funds, OPNFC and non-money market funds continued to invest in overseas markets. Acquisition of Australian equity reflect strong investor demand as listed banks outperformed the domestic stock market this quarter.

Households

Households' $65.9b net lending position was due to a $111.1b acquisition of assets, offset by a $45.2b incurrence of liabilities.
The acquisition of assets was lead by:

$70.2 in deposits
$23.8b in net equity in pension funds

While liabilities were driven by:

$37.6b in loan borrowings

Deposits increased as households continued to save as state specific lockdowns limited spending opportunities. Acquisition of net equity in pension funds was due to continued improvement in the labour market and the increase in superannuation guarantee from 9.5% to 10%. Increased activity in the property market and the low interest rate environment saw strength in demand for housing loans by owner-occupiers and investors.

Non-financial corporations

Non-financial corporations' $14.0b net borrowing position was due to a $31.7b acquisition of financial assets offset by $45.7b incurrence of liabilities. Liabilities were driven by:

$37.9b in equity raising
$8.7b in loan borrowing

Businesses sought to raise funds through equities markets with continued investor demand from rest of world. Loans from ADIs strengthened as private businesses borrowed funds as industries recover from the impacts of the pandemic.

General government

General government's $46.2b net borrowing position was due to a $17.5b acquisition in assets offset by $63.8b incurrence of liabilities. Liabilities were driven by:

$23.5b net issuance of bonds
$22.0b in loan borrowings

Loan borrowing increased to fund state and local general government expenditure in response to COVID-19 outbreaks and subsequent state lockdowns. Bond issuance by the national general government also strengthened as the Commonwealth government increased social assistance benefits and health spending associated with the COVID-19 outbreaks and state lockdowns.

Net financial investment (net lending (+) / borrowing (-))
	National net financial investment ($b)	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Sep-08	-14.1	-43.7	-8.7	4.0	34.3
Dec-08	-8.4	-36.5	-15.7	-6.9	50.7
Mar-09	-7.2	-10.9	-1.0	-1.6	6.3
Jun-09	-14.8	14.2	-30.0	-18.2	19.1
Sep-09	-18.9	-29.7	31.1	-29.4	9.2
Dec-09	-23.2	-6.2	-3.1	-18.9	5.0
Mar-10	-20.4	1.1	-18.5	-13.8	10.8
Jun-10	-6.4	21.7	-10.1	-11.2	-6.8
Sep-10	-11.6	-6.1	10.5	-25.1	9.2
Dec-10	-13.7	-6.4	9.2	-15.2	-1.4
Mar-11	-12.9	14.1	5.7	-17.3	-15.4
Jun-11	-8.0	-0.5	9.0	-20.2	3.6
Sep-11	-11.0	-11.0	4.5	-30.5	26.1
Dec-11	-13.7	1.3	-3.2	-14.7	3.0
Mar-12	-16.4	-34.8	20.8	-11.2	8.8
Jun-12	-10.1	2.9	-21.0	-32.2	40.3
Sep-12	-19.4	-4.9	-10.7	-26.2	22.4
Dec-12	-18.0	-13.4	-2.0	-11.1	8.5
Mar-13	-10.9	-33.3	23.1	-17.3	16.6
Jun-13	-11.7	-40.0	14.1	-11.3	25.6
Sep-13	-17.9	-14.5	-16.0	-21.1	33.6
Dec-13	-10.4	-40.8	22.4	-9.0	17.0
Mar-14	-9.5	-16.5	9.7	-11.7	9.1
Jun-14	-9.9	-23.5	20.3	-12.2	5.5
Sep-14	-17.1	-8.7	-20.0	-18.7	30.2
Dec-14	-15.2	-1.2	-27.7	-13.8	27.5
Mar-15	-9.1	-12.2	-0.4	-4.8	8.2
Jun-15	-20.9	-33.4	5.0	-4.4	11.9
Sep-15	-26.0	-48.2	-4.5	-16.3	43.0
Dec-15	-25.2	-39.5	1.9	-5.4	17.8
Mar-16	-13.2	-23.0	16.1	-10.3	4.1
Jun-16	-19.0	6.6	-31.5	-7.9	13.9
Sep-16	-15.1	-7.4	-1.4	-21.8	15.6
Dec-16	-4.0	4.2	-13.4	-19.4	24.6
Mar-17	-4.5	-17.5	11.3	2.3	-0.7
Jun-17	-12.3	23.7	-31.5	-12.3	7.7
Sep-17	-15.0	-11.1	-10.0	-17.8	23.9
Dec-17	-18.5	-7.7	-22.2	-3.0	14.4
Mar-18	-10.6	-25.3	6.9	-0.3	8.2
Jun-18	-12.6	-10.2	-15.8	-0.4	13.8
Sep-18	-13.3	-26.9	-2.1	-18.6	34.3
Dec-18	-3.5	-7.4	2.0	-10.4	12.3
Mar-19	-2.5	-21.5	1.7	-3.3	20.5
Jun-19	6.8	12.4	-17.1	-12.9	24.4
Sep-19	4.1	-0.4	-29.0	-25.5	59.0
Dec-19	5.4	-11.6	1.2	-12.9	28.7
Mar-20	9.0	-6.9	14.0	-17.8	19.7
Jun-20	17.5	43.8	4.6	-95.9	65.1
Sep-20	5.5	34.1	10.6	-119.8	80.6
Dec-20	12.2	27.1	1.7	-51.6	35.0
Mar-21	15.7	1.1	17.6	-10.8	7.7
Jun-21	24.2	32.0	-6.0	-16.6	14.8
Sep-21	21.7	-14.0	16.0	-46.2	65.9

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

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

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Demand for credit

Demand for credit table

Demand for credit non-financial domestic sectors, $b
		Credit market outstandings, Jun-21	Demand for credit, Sep-21	Other changes, Sep-21	Credit market outstandings, Sep-21
Non-financial corporations
	Investment funds	496.4	10.0	10.5	516.8
	Other private	3,961.8	33.1	-0.8	3,994.1
	Public	159.0	-1.0	0.0	157.9
General government
	National	900.6	24.6	1.8	927.0
	State and local	303.9	22.3	0.0	326.1
Households	2,490.7	37.4	3.3	2,531.5
Total	8,312.4	126.3	14.8	8,453.5

Demand for credit was $126.3b in the September quarter, of which:

general government borrowed $46.9b
households borrowed $37.4b
other private non-financial corporations borrowed $33.1b

Credit market outstanding grew $141.1b (1.7%) of which $14.8b was revaluation gains. Private non-financial investment funds outperformed the broader stock market as their shares experienced $10.0b in revaluation gains.

General government

The general government's funding requirements grew in the September quarter as the NSW and Victorian state governments supported their economies through lockdown mainly in the form of business support payments. The Commonwealth government also supported household incomes through increased social assistance benefits such as COVID-19 Disaster Payments. These funds were raised by:

$25.3b bond issuance by national general government
$22.2b in loan borrowings by state and local general governments

Households

Demand for housing credit remained high in the September quarter supported by low interest rates and continued strength in the housing market despite a dampening impact from lockdowns in NSW, Victoria and ACT on auction volumes and property listings. Households repaid $4.2b in short term loans as consumer spending fell amid COVID-19 restrictions. This resulted in:

$41.7b of long term loan borrowings
partly offset by $4.2b repayment of short term loans

Private non-financial corporations

Businesses continued to favour equity raising attracting strong investment from non-residents. Growth in business credit picked up noticeably in the September quarter driven by loan borrowing from ADIs as some firms have sought to position themselves in the low interest rate environment for an expected recovery in economic activity once COVID-19 restrictions ease. Funds of other private non-financial corporations were sourced through:

equity raising of $31.4b
loan borrowings of $6.7b

Demand for credit by sector
	Other private non-financial corporations ($b)	Households ($b)	National general government ($b)	State and local general government ($b)
Sep-08	57.2	11.7	-1.1	1.5
Dec-08	42.0	9.1	4.5	4.2
Mar-09	16.8	10.8	14.1	-0.4
Jun-09	3.5	26.9	26.7	1.2
Sep-09	18.8	26.1	6.8	11.1
Dec-09	6.7	22.7	14.1	-0.3
Mar-10	2.6	18.2	14.6	6.0
Jun-10	0.8	29.2	16.3	4.7
Sep-10	15.4	16.9	13.9	4.6
Dec-10	20.2	23.3	14.0	-1.7
Mar-11	6.4	21.4	10.3	7.8
Jun-11	6.1	27.2	9.0	9.9
Sep-11	30.8	7.4	16.1	12.1
Dec-11	-4.6	16.7	17.8	3.7
Mar-12	28.1	11.6	16.1	0.6
Jun-12	16.3	23.0	-0.6	13.5
Sep-12	16.3	1.9	16.9	11.8
Dec-12	15.4	14.8	14.0	-3.1
Mar-13	23.2	11.8	6.5	3.7
Jun-13	37.1	26.9	-8.8	-0.3
Sep-13	24.5	4.3	21.6	8.1
Dec-13	35.4	30.3	18.3	2.1
Mar-14	8.2	18.7	16.4	4.5
Jun-14	31.6	34.2	6.7	2.4
Sep-14	33.7	19.8	19.4	4.5
Dec-14	35.3	26.2	9.9	2.8
Mar-15	42.6	25.0	14.7	3.0
Jun-15	26.1	39.2	5.7	-4.2
Sep-15	38.9	18.2	29.3	8.4
Dec-15	33.4	23.1	4.6	-4.3
Mar-16	30.7	25.3	22.0	1.5
Jun-16	11.1	34.7	4.2	0.1
Sep-16	21.1	28.6	23.6	1.8
Dec-16	57.0	20.7	23.1	-8.9
Mar-17	5.7	21.6	20.9	-2.1
Jun-17	37.3	40.6	17.5	1.5
Sep-17	33.2	18.2	1.5	2.9
Dec-17	31.2	28.1	13.7	2.4
Mar-18	39.2	19.6	4.8	0.9
Jun-18	14.3	27.5	10.1	0.1
Sep-18	67.3	13.9	3.4	2.1
Dec-18	8.4	19.7	2.1	4.9
Mar-19	43.7	10.2	-2.7	5.1
Jun-19	40.8	16.4	7.4	7.6
Sep-19	12.8	-7.2	17.4	9.6
Dec-19	18.6	19.4	6.1	7.4
Mar-20	52.9	2.4	20.9	17.1
Jun-20	-6.0	15.9	106.5	31.5
Sep-20	-0.8	8.5	117.5	27.8
Dec-20	3.3	23.0	10.4	19.4
Mar-21	12.0	26.3	15.8	-4.8
Jun-21	3.8	44.3	-0.3	8.7
Sep-21	33.1	37.4	24.6	22.3

Demand for credit by sector

["","Other private non-financial corporations","Households","National general government","State and local general government"]

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Households

Balance sheet

Household balance sheet, $b
		Amounts outstanding, Jun-21	Transactions, Sep-21	Other changes (a), Sep-21	Holding gains/losses, Sep-21	Amounts outstanding, Sep-21
Non-financial assets
	Land and dwellings	8,813.4	11.7	7.2	454.6	9,286.9
	Other non-financial assets	699.6	0.4	-	6.2	706.2
Financial assets
	Superannuation reserves	3,559.0	27.8	-	19.7	3,606.5
	Shares and other equity	1,179.8	-0.5	-	24.9	1,204.2
	Currency and deposits	1,342.7	73.8	-	1.3	1,417.8
	Other financial assets	367.8	10.0	-	1.6	379.3
Liabilities
	Loans	2,485.2	37.6	-	3.3	2,526.2
	Other liabilities	148.5	7.6	-	-	156.2
Wealth (Net worth)	13,328.5	78.0	7.2	504.9	13,918.5
Memorandum item
	Consumer durables (b)	453.4	2.8	-	-	462.0

Financial assets

Household selected financial assets, $b
	Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	35.5	6,251.3	61.7	6,449.2	111.1	6,607.8
Deposits	15.5	1,290.2	5.3	1,296.2	72.0	1,369.5
Shares and equity	1.5	1,145.4	3.8	1,179.8	-0.5	1,204.2
Net equity in reserves	15.2	2,953.5	37.0	3,121.8	26.7	3,191.8
	Pension funds	18.9	2,816.3	34.3	2,974.1	23.8	3,039.6
Other assets	3.3	862.2	15.5	851.5	12.9	842.4

Liabilities

Household selected liabilities, $b
	Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	27.7	2,585.2	46.9	2,634.0	45.2	2,682.6
Short term loans	-1.3	62.6	-0.5	62.1	-4.2	57.9
Long term loans	27.8	2,376.4	44.8	2,423.1	41.7	2,468.2
Other liabilities	1.2	146.2	2.5	148.8	7.6	156.4

Household wealth rose 4.4% ($590.0b) to a record $13,918.5b at the end of the September quarter. Household wealth was driven by continued strength in the housing market and increased transactions in deposits and superannuation assets.

Wealth per capita increased 4.3% ($22,177) to $540,179 per person.

Non-financial assets

Non-financial assets owned by households increased 5.0% ($480.0b), driven by a:

$473.4b rise in land and dwellings

Holding gains on land and dwellings reflected the sustained growth in property prices due to low interest rates and demand being greater than the level of housing stock on the market.

Financial assets

Financial assets of households rose 2.5% ($158.6b), driven by:

$73.3b rise in deposits
$47.5b rise in superannuation reserves
$24.4b rise in shares and other equity

The increase in deposits is the strongest growth since December quarter 2008 and in line with strong household savings. State specific COVID-19 restrictions curbed household spending while social benefits remained strong. Households also received larger tax refunds due to the backdating of the October 2020 personal income tax bracket adjustments to 1 July 2020.

Transactions in superannuation ($27.8b) drove the increase in reserves, reflecting continued employment growth as well as the increase in the super guarantee from 9.5% to 10%. Revaluations drove further increases in superannuation reserves and shares and other equity, reflective of some positive market conditions.

Liabilities

Household liabilities increased 1.8% ($48.6b), driven by:

$31.4b rise in housing loans

Growth in housing loans reflects the continued activity in the property market. The rise was mainly driven by owner-occupier loans, which increased $28.0b. Investor loans also contributed $3.4b to the rise, recording a fourth consecutive quarter of positive growth.

This was offset by a:

$4.2b reduction in short term loans

Lowers levels of spending contributed to the fall in short loans as well as the continued trend of households reducing the use of credit cards.

Household wealth, contribution to growth, quarterly
	Net worth	Assets: Land and dwellings	Assets: Superannuation	Assets: Equity	Liabilities: Housing loans	Assets: Deposits
Sep-08	-2.1	-1.1	-0.8	-0.2	-0.2	0.4
Dec-08	-5.5	-3.8	-1.6	-0.6	-0.3	0.6
Mar-09	-0.3	0.3	-0.3	-0.2	-0.4	0.2
Jun-09	5.3	2.9	2.3	0.3	-0.5	0.1
Sep-09	6.5	4	2	0.6	-0.4	0.3
Dec-09	5.8	5	0.8	0	-0.4	0.2
Mar-10	3.5	3.1	0.4	0	-0.3	0.2
Jun-10	-1.8	-0.4	-0.6	-0.4	-0.4	0.1
Sep-10	1.4	0.3	0.7	0.2	-0.3	0.4
Dec-10	1.1	0.4	0.8	0.1	-0.3	0.2
Mar-11	-0.2	-0.2	0.4	0	-0.3	0.1
Jun-11	-0.5	0.1	0	-0.1	-0.2	0
Sep-11	-3.2	-2	-1.1	-0.2	-0.3	0.4
Dec-11	0.1	-0.3	0.2	0.1	-0.2	0.2
Mar-12	1.6	0.4	1	0.3	-0.2	0.2
Jun-12	2.3	0.4	1.9	-0.1	-0.3	0.1
Sep-12	1	-0.2	0.8	0.2	-0.2	0.3
Dec-12	2.7	1.6	0.9	0.2	-0.2	0.2
Mar-13	2.1	0.8	1	0.3	-0.2	0.1
Jun-13	0	1.1	-0.8	0	-0.3	0.1
Sep-13	3	1.2	1.3	0.3	0	0.4
Dec-13	3.3	2.4	0.7	0.1	-0.4	0.3
Mar-14	1.9	1	0.6	0.3	-0.2	0.1
Jun-14	1.6	1.3	0.3	0.2	-0.4	0.1
Sep-14	2.1	1.1	0.7	0.2	-0.3	0.4
Dec-14	3.4	2.2	0.8	0.3	-0.3	0.3
Mar-15	3.3	1.5	1.3	0.4	-0.3	0.2
Jun-15	2.4	2.7	0.1	0	-0.4	0.1
Sep-15	1.4	1.5	-0.3	0	-0.2	0.4
Dec-15	1.8	0.5	0.9	0.4	-0.3	0.2
Mar-16	-0.2	0.1	-0.2	0	-0.3	0.1
Jun-16	3.2	1.6	1.7	0.2	-0.3	0.1
Sep-16	2.5	1.4	0.9	0.3	-0.2	0.3
Dec-16	3.6	2.8	0.5	0.2	-0.2	0.3
Mar-17	2.4	1.7	0.7	0.2	-0.2	0.1
Jun-17	1.6	1.7	0.2	0	-0.3	0
Sep-17	0.3	0.1	0	0.1	-0.2	0.2
Dec-17	2.8	1.7	1	0.3	-0.3	0.1
Mar-18	-0.1	0.2	-0.2	0	-0.2	0.1
Jun-18	0.9	-0.3	1	0.2	-0.2	0
Sep-18	0.3	-0.5	0.5	0.2	-0.2	0.3
Dec-18	-1.9	-0.6	-1	-0.1	-0.2	0.1
Mar-19	0.6	-1.2	1.4	0.3	-0.1	0.1
Jun-19	3	0.7	2.2	0.3	-0.2	0
Sep-19	3.1	2.1	0.6	0.2	-0.1	0.2
Dec-19	2.7	2	0.6	0.1	-0.2	0.1
Mar-20	-2.3	0.9	-2.5	-0.6	-0.1	0.2
Jun-20	2.2	-0.2	1.6	0.3	-0.1	0.3
Sep-20	3.1	2.1	0.3	0.1	-0.1	0.6
Dec-20	5.5	3.3	1.5	0.5	-0.2	0.2
Mar-21	4.5	3.8	0.5	0.2	-0.2	0.1
Jun-21	4.4	3.2	1.1	0.3	-0.3	0
Sep-21	4.4	3.6	0.4	0.2	-0.3	0.6

Household wealth, contribution to growth, quarterly

["","Net worth","Assets: Land and dwellings","Assets: Superannuation","Assets: Equity","Liabilities: Housing loans","Assets: Deposits"]

[["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"],[[-2.1],[-5.5],[-0.3],[5.3],[6.5],[5.8],[3.5],[-1.8],[1.4],[1.1],[-0.2],[-0.5],[-3.2],[0.1],[1.6],[2.3],[1],[2.7],[2.1],[0],[3],[3.3],[1.9],[1.6],[2.1],[3.4],[3.3],[2.4],[1.4],[1.8],[-0.2],[3.2],[2.5],[3.6],[2.4],[1.6],[0.3],[2.8],[-0.1],[0.9],[0.3],[-1.9],[0.6],[3],[3.1],[2.7],[-2.3],[2.2],[3.1],[5.5],[4.5],[4.4],[4.4]],[[-1.1],[-3.8],[0.3],[2.9],[4],[5],[3.1],[-0.4],[0.3],[0.4],[-0.2],[0.1],[-2],[-0.3],[0.4],[0.4],[-0.2],[1.6],[0.8],[1.1],[1.2],[2.4],[1],[1.3],[1.1],[2.2],[1.5],[2.7],[1.5],[0.5],[0.1],[1.6],[1.4],[2.8],[1.7],[1.7],[0.1],[1.7],[0.2],[-0.3],[-0.5],[-0.6],[-1.2],[0.7],[2.1],[2],[0.9],[-0.2],[2.1],[3.3],[3.8],[3.2],[3.6]],[[-0.8],[-1.6],[-0.3],[2.3],[2],[0.8],[0.4],[-0.6],[0.7],[0.8],[0.4],[0],[-1.1],[0.2],[1],[1.9],[0.8],[0.9],[1],[-0.8],[1.3],[0.7],[0.6],[0.3],[0.7],[0.8],[1.3],[0.1],[-0.3],[0.9],[-0.2],[1.7],[0.9],[0.5],[0.7],[0.2],[0],[1],[-0.2],[1],[0.5],[-1],[1.4],[2.2],[0.6],[0.6],[-2.5],[1.6],[0.3],[1.5],[0.5],[1.1],[0.4]],[[-0.2],[-0.6],[-0.2],[0.3],[0.6],[0],[0],[-0.4],[0.2],[0.1],[0],[-0.1],[-0.2],[0.1],[0.3],[-0.1],[0.2],[0.2],[0.3],[0],[0.3],[0.1],[0.3],[0.2],[0.2],[0.3],[0.4],[0],[0],[0.4],[0],[0.2],[0.3],[0.2],[0.2],[0],[0.1],[0.3],[0],[0.2],[0.2],[-0.1],[0.3],[0.3],[0.2],[0.1],[-0.6],[0.3],[0.1],[0.5],[0.2],[0.3],[0.2]],[[-0.2],[-0.3],[-0.4],[-0.5],[-0.4],[-0.4],[-0.3],[-0.4],[-0.3],[-0.3],[-0.3],[-0.2],[-0.3],[-0.2],[-0.2],[-0.3],[-0.2],[-0.2],[-0.2],[-0.3],[0],[-0.4],[-0.2],[-0.4],[-0.3],[-0.3],[-0.3],[-0.4],[-0.2],[-0.3],[-0.3],[-0.3],[-0.2],[-0.2],[-0.2],[-0.3],[-0.2],[-0.3],[-0.2],[-0.2],[-0.2],[-0.2],[-0.1],[-0.2],[-0.1],[-0.2],[-0.1],[-0.1],[-0.1],[-0.2],[-0.2],[-0.3],[-0.3]],[[0.4],[0.6],[0.2],[0.1],[0.3],[0.2],[0.2],[0.1],[0.4],[0.2],[0.1],[0],[0.4],[0.2],[0.2],[0.1],[0.3],[0.2],[0.1],[0.1],[0.4],[0.3],[0.1],[0.1],[0.4],[0.3],[0.2],[0.1],[0.4],[0.2],[0.1],[0.1],[0.3],[0.3],[0.1],[0],[0.2],[0.1],[0.1],[0],[0.3],[0.1],[0.1],[0],[0.2],[0.1],[0.2],[0.3],[0.6],[0.2],[0.1],[0],[0.6]]]

[]

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Private non-financial corporations

Financial assets

Private non-financial corporations' selected financial assets, $b
	Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	18.3	1,697.2	49.8	1,788.4	29.8	1,812.9
Deposits	14.9	712.9	37.2	751.2	1.0	755.1
Shares and equity	9.0	583.7	5.1	622.0	17.9	632.7
Other accounts receivable	-3.9	200.2	7.9	212.1	4.1	211.2
Other assets	-1.6	200.4	-0.4	203.1	6.7	213.9

Liabilities

Private non-financial corporations' selected liabilities, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	21.3	4,492.1	13.7	4,647.2	48.0	4,705.8
Total debt securities	2.6	292.5	-2.5	295.1	-4.0	299.0
Loans	8.8	920.8	6.1	924.2	8.7	933.1
	Authorised deposit taking institutions	5.5	576.3	3.9	581.0	13.3	596.3
	Rest of world	1.7	254.5	0.5	251.6	-13.6	236.2
Shares and equity	3.9	3,053.5	8.1	3,197.6	37.9	3,237.1
	Households	2.9	748.6	4.5	769.1	0.7	778.5
	Rest of world	-4.4	1,146.9	8.6	1,190.0	33.9	1,209.7
Other liabilities	6.0	225.2	2.0	230.2	5.3	236.6

Private non-financial corporations demand for credit of $48.0b, was driven by:

$37.9b raising of equity, and
$8.7b borrowing of loans, partly offset by
$4.0b maturity of debt securities

Private non-financial corporations' demand for credit
	Total liabilities ($b)	Debt securities ($b)	Loans ($b)	Equities ($b)
Sep-08	70.1	2.2	31.6	26.2
Dec-08	45.8	6.9	15.3	21.0
Mar-09	7.2	12.6	-21.6	25.3
Jun-09	-12.4	7.1	-29.8	27.6
Sep-09	30.3	1.6	-11.2	30.1
Dec-09	6.7	1.8	-7.2	11.3
Mar-10	-0.1	0.8	-9.8	8.1
Jun-10	8.6	-1.3	-7.5	12.7
Sep-10	21.4	8.5	-5.7	15.6
Dec-10	21.8	-4.7	-10.3	35.1
Mar-11	6.3	3.3	6.1	0.0
Jun-11	0.5	0.6	-6.5	9.6
Sep-11	30.7	6.9	16.4	5.8
Dec-11	6.3	7.2	-1.1	-5.9
Mar-12	28.2	10.2	6.9	12.9
Jun-12	21.2	-1.2	13.3	3.9
Sep-12	20.0	6.8	-2.7	13.9
Dec-12	18.1	6.0	1.3	11.7
Mar-13	24.3	3.7	11.4	12.6
Jun-13	37.1	-1.9	17.4	23.5
Sep-13	24.3	8.9	0.7	13.6
Dec-13	43.2	1.0	16.0	23.8
Mar-14	12.2	-3.8	3.9	12.7
Jun-14	29.9	-5.3	19.5	21.0
Sep-14	40.5	6.1	8.8	19.0
Dec-14	32.0	-7.3	8.6	31.3
Mar-15	45.6	5.0	25.3	17.9
Jun-15	39.3	10.6	-1.2	26.5
Sep-15	47.4	-7.0	29.5	19.4
Dec-15	37.0	7.3	12.6	18.8
Mar-16	34.9	4.4	16.4	13.9
Jun-16	13.9	-8.8	2.3	16.7
Sep-16	31.6	-7.4	11.5	23.1
Dec-16	61.7	1.3	12.7	45.8
Mar-17	18.8	-10.2	3.6	16.5
Jun-17	49.0	6.8	5.0	30.5
Sep-17	49.0	-3.8	9.7	33.5
Dec-17	30.1	-6.4	8.2	31.0
Mar-18	47.2	3.7	16.0	23.7
Jun-18	14.1	8.1	-14.5	21.2
Sep-18	78.7	-0.8	31.1	45.7
Dec-18	6.3	-4.4	6.3	5.9
Mar-19	44.7	-4.1	28.7	22.6
Jun-19	30.6	3.8	2.5	29.1
Sep-19	26.6	-1.0	7.3	12.6
Dec-19	18.3	-1.8	2.2	22.7
Mar-20	59.7	-5.8	48.3	11.8
Jun-20	-3.6	-1.3	-27.3	32.2
Sep-20	10.0	-8.6	-6.5	22.8
Dec-20	9.4	-16.6	-9.2	34.2
Mar-21	21.3	2.6	8.8	3.9
Jun-21	13.7	-2.5	6.1	8.1
Sep-21	48.0	-4.0	8.7	37.9

Private non-financial corporations' demand for credit

["","Total liabilities","Debt securities","Loans","Equities"]

[["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"],[[70.1],[45.8],[7.2],[-12.4],[30.3],[6.7],[-0.1],[8.6],[21.4],[21.8],[6.3],[0.5],[30.7],[6.3],[28.2],[21.2],[20],[18.1],[24.3],[37.1],[24.3],[43.2],[12.2],[29.9],[40.5],[32],[45.6],[39.3],[47.4],[37],[34.9],[13.9],[31.6],[61.7],[18.8],[49],[49],[30.1],[47.2],[14.1],[78.7],[6.3],[44.7],[30.6],[26.6],[18.3],[59.7],[-3.6],[10],[9.4],[21.3],[13.7],[48]],[[2.2],[6.9],[12.6],[7.1],[1.6],[1.8],[0.8],[-1.3],[8.5],[-4.7],[3.3],[0.6],[6.9],[7.2],[10.2],[-1.2],[6.8],[6],[3.7],[-1.9],[8.9],[1],[-3.8],[-5.3],[6.1],[-7.3],[5],[10.6],[-7],[7.3],[4.4],[-8.8],[-7.4],[1.3],[-10.2],[6.8],[-3.8],[-6.4],[3.7],[8.1],[-0.8],[-4.4],[-4.1],[3.8],[-1],[-1.8],[-5.8],[-1.3],[-8.6],[-16.6],[2.6],[-2.5],[-4]],[[31.6],[15.3],[-21.6],[-29.8],[-11.2],[-7.2],[-9.8],[-7.5],[-5.7],[-10.3],[6.1],[-6.5],[16.4],[-1.1],[6.9],[13.3],[-2.7],[1.3],[11.4],[17.4],[0.7],[16],[3.9],[19.5],[8.8],[8.6],[25.3],[-1.2],[29.5],[12.6],[16.4],[2.3],[11.5],[12.7],[3.6],[5],[9.7],[8.2],[16],[-14.5],[31.1],[6.3],[28.7],[2.5],[7.3],[2.2],[48.3],[-27.3],[-6.5],[-9.2],[8.8],[6.1],[8.7]],[[26.2],[21],[25.3],[27.6],[30.1],[11.3],[8.1],[12.7],[15.6],[35.1],[0],[9.6],[5.8],[-5.9],[12.9],[3.9],[13.9],[11.7],[12.6],[23.5],[13.6],[23.8],[12.7],[21],[19],[31.3],[17.9],[26.5],[19.4],[18.8],[13.9],[16.7],[23.1],[45.8],[16.5],[30.5],[33.5],[31],[23.7],[21.2],[45.7],[5.9],[22.6],[29.1],[12.6],[22.7],[11.8],[32.2],[22.8],[34.2],[3.9],[8.1],[37.9]]]

[]

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Private non-financial corporations favoured equity raising over debt issuance, with increased funding sourced from overseas investors. This resulted in:

debt to equity ratio (adjusted for price changes) remaining low at 0.67

The debt to equity ratio is at its lowest level since March 2005, as businesses have deleveraged to strengthen their balance sheet positions. Businesses have maintained strong liquidity buffers through continued deposit growth throughout the pandemic, which was partly offset by strong dividend payouts this quarter.

Private non-financial corporations' debt to equity ratio
	Debt to equity ratio, adjusted for price changes, September 2001 base	Debt to equity ratio
Sep-01	0.66	0.66
Dec-01	0.63	0.58
Mar-02	0.62	0.57
Jun-02	0.62	0.60
Sep-02	0.62	0.62
Dec-02	0.63	0.59
Mar-03	0.62	0.59
Jun-03	0.62	0.57
Sep-03	0.61	0.54
Dec-03	0.61	0.52
Mar-04	0.61	0.50
Jun-04	0.62	0.50
Sep-04	0.62	0.49
Dec-04	0.66	0.48
Mar-05	0.66	0.48
Jun-05	0.75	0.52
Sep-05	0.76	0.50
Dec-05	0.78	0.51
Mar-06	0.80	0.50
Jun-06	0.81	0.52
Sep-06	0.82	0.53
Dec-06	0.86	0.51
Mar-07	0.87	0.50
Jun-07	0.87	0.49
Sep-07	0.92	0.52
Dec-07	0.96	0.54
Mar-08	0.97	0.60
Jun-08	0.99	0.60
Sep-08	1.01	0.69
Dec-08	1.01	0.81
Mar-09	0.96	0.79
Jun-09	0.90	0.70
Sep-09	0.87	0.63
Dec-09	0.86	0.60
Mar-10	0.85	0.60
Jun-10	0.83	0.64
Sep-10	0.83	0.60
Dec-10	0.79	0.55
Mar-11	0.79	0.55
Jun-11	0.78	0.56
Sep-11	0.80	0.63
Dec-11	0.81	0.64
Mar-12	0.82	0.61
Jun-12	0.83	0.65
Sep-12	0.82	0.64
Dec-12	0.82	0.62
Mar-13	0.82	0.61
Jun-13	0.82	0.65
Sep-13	0.82	0.62
Dec-13	0.82	0.63
Mar-14	0.81	0.62
Jun-14	0.80	0.62
Sep-14	0.81	0.63
Dec-14	0.79	0.63
Mar-15	0.80	0.62
Jun-15	0.79	0.64
Sep-15	0.80	0.67
Dec-15	0.80	0.66
Mar-16	0.81	0.65
Jun-16	0.80	0.63
Sep-16	0.79	0.60
Dec-16	0.78	0.60
Mar-17	0.77	0.58
Jun-17	0.77	0.58
Sep-17	0.76	0.58
Dec-17	0.75	0.54
Mar-18	0.75	0.56
Jun-18	0.74	0.53
Sep-18	0.74	0.53
Dec-18	0.73	0.56
Mar-19	0.74	0.53
Jun-19	0.73	0.51
Sep-19	0.73	0.51
Dec-19	0.72	0.50
Mar-20	0.74	0.60
Jun-20	0.71	0.53
Sep-20	0.69	0.51
Dec-20	0.67	0.47
Mar-21	0.67	0.47
Jun-21	0.67	0.45
Sep-21	0.67	0.45

Private non-financial corporations' debt to equity ratio

["","Debt\u00a0to\u00a0equity\u00a0ratio,\u00a0adjusted\u00a0for\u00a0price\u00a0changes,\u00a0September 2001 base","Debt\u00a0to\u00a0equity\u00a0ratio"]

[["Sep-01","Dec-01","Mar-02","Jun-02","Sep-02","Dec-02","Mar-03","Jun-03","Sep-03","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"],[[0.661],[0.629],[0.616],[0.618],[0.624],[0.63],[0.623],[0.62],[0.613],[0.61],[0.605],[0.616],[0.621],[0.656],[0.66],[0.748],[0.763],[0.78],[0.795],[0.809],[0.82],[0.855],[0.874],[0.873],[0.92],[0.956],[0.967],[0.985],[1.005],[1.008],[0.964],[0.899],[0.873],[0.859],[0.845],[0.831],[0.825],[0.787],[0.793],[0.778],[0.796],[0.811],[0.815],[0.827],[0.823],[0.82],[0.821],[0.817],[0.816],[0.816],[0.808],[0.801],[0.806],[0.788],[0.798],[0.792],[0.801],[0.803],[0.81],[0.799],[0.792],[0.779],[0.772],[0.769],[0.762],[0.747],[0.751],[0.737],[0.737],[0.734],[0.738],[0.726],[0.729],[0.717],[0.739],[0.707],[0.692],[0.666],[0.674],[0.674],[0.666]],[[0.661],[0.584],[0.567],[0.6],[0.615],[0.592],[0.591],[0.572],[0.538],[0.517],[0.501],[0.495],[0.485],[0.484],[0.476],[0.521],[0.503],[0.506],[0.499],[0.516],[0.525],[0.508],[0.504],[0.494],[0.515],[0.541],[0.596],[0.595],[0.686],[0.807],[0.793],[0.696],[0.629],[0.603],[0.598],[0.635],[0.599],[0.554],[0.552],[0.561],[0.629],[0.636],[0.612],[0.654],[0.638],[0.616],[0.61],[0.646],[0.624],[0.631],[0.623],[0.617],[0.631],[0.628],[0.624],[0.635],[0.67],[0.657],[0.652],[0.629],[0.603],[0.596],[0.578],[0.58],[0.576],[0.543],[0.555],[0.528],[0.529],[0.555],[0.527],[0.514],[0.513],[0.496],[0.604],[0.529],[0.513],[0.471],[0.471],[0.453],[0.454]]]

[]

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Financial corporations

Financial assets and liabilities

Financial corporations' financial assets, $b
	Amounts outstanding, Jun-21	Transactions, Sep-21	Other changes, Sep-21	Amounts outstanding, Sep-21
Central bank	592.4	56.7	2.9	652.0
Authorised deposit taking institutions	4,307.3	51.7	61.9	4,420.9
Other broad money institutions	178.9	8.4	0.3	187.5
Pension funds	2,808.6	17.0	38.7	2,864.4
Life insurance corporations	187.2	2.7	2.1	191.9
Non-life insurance corporations	262.9	3.4	1.8	268.2
Money market investment funds	34.5	-1.4	0.1	33.2
Non-money market investment funds	1,131.5	15.7	7.0	1,154.2
Central borrowing authorities	525.5	23.4	0.7	549.5
Securitisers	690.7	14.4	0.7	705.8
Other financial corporations	108.9	-15.2	14.5	108.2

Financial corporations' liabilities, $b
	Amounts outstanding, Jun-21	Transactions, Sep-21	Other changes, Sep-21	Amounts outstanding, Sep-21
Central bank	594.2	56.9	1.9	653.0
Authorised deposit taking institutions	4,522.4	36.1	85.5	4,644.1
Other broad money institutions	176.4	-0.5	-0.8	175.0
Pension funds	3,032.7	21.2	43.8	3,097.8
Life insurance corporations	183.3	2.7	2.3	188.3
Non-life insurance corporations	271.3	9.2	3.2	283.7
Money market investment funds	34.5	-1.0	-0.3	33.2
Non-money market investment funds	1,292.5	11.2	24.8	1,328.5
Central borrowing authorities	503.5	24.9	-1.8	526.6
Securitisers	709.2	13.7	-0.1	722.8
Other financial corporations	207.8	-13.6	13.1	207.3

Authorised deposit-taking institutions (ADIs)

Financial assets

Authorised deposit taking institutions' selected financial assets, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	-1.4	4,284.8	-27.6	4,307.3	51.7	4,420.9
Deposits	98.7	280.1	132.9	413.2	55.0	468.3
Bonds	-79.6	830.6	-134.3	697.3	13.2	713.1
	Securitisers	-43.9	409.0	-91.6	315.7	31.5	347.9
	National general government	-34.3	138.8	-30.7	110.4	-6.5	104.3
Loans	59.0	2,566.8	23.5	2,592.4	55.9	2,652.6
Other assets	-79.5	607.3	-49.7	604.4	-72.4	586.9

Liabilities

Authorised deposit taking institutions' selected liabilities, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	-21.0	4,466.5	-26.4	4,522.4	36.1	4,644.1
Deposits	49.7	2,659.1	41.9	2,704.2	83.5	2,796.8
	Other private non-fin corps	14.4	669.4	26.5	696.8	0.7	700.0
	Pension funds	-0.9	234.8	4.5	239.4	-7.5	232.3
	Households	15.6	1,270.0	5.4	1,275.5	72.1	1,348.1
Bonds	-21.2	447.2	-0.6	452.6	-14.3	444.0
Shares and equities	2.2	584.2	0.0	616.5	0.4	641.3
Other liabilities	-51.7	775.9	-67.6	749.1	-33.5	762.0

ADIs continued to sell bonds issued by national general government and central borrowing authorities to the RBA in return for deposit assets as part of the RBA's Bond Purchase Program. The increase in ADIs' deposit assets were partially offset by the unwinding of repurchase agreements (repos) entered into with the RBA. This resulted in a:

$46.4b acqusition in deposits accepted by the central bank
$6.5b sell off of bonds issued by national general government
$3.8b sell off of bonds issued by central borrowing authorities
$31.5b acquisition of bonds issued by securitisers

Authorised deposit taking institutions' sources of funding
	Deposits (%)	Short-term debt securities (%)	Bonds (%)	Equities (%)
Sep-08	49.9	17.1	15.7	13.2
Dec-08	52.3	12.7	17.6	11.3
Mar-09	53.6	11.2	18.1	11.9
Jun-09	52.9	12.0	17.1	12.9
Sep-09	52.7	11.0	16.7	16.9
Dec-09	52.7	10.8	18.4	16.7
Mar-10	52.9	10.6	18.3	17.3
Jun-10	53.6	10.5	18.5	14.7
Sep-10	55.0	9.2	17.8	15.5
Dec-10	55.9	9.6	16.9	15.3
Mar-11	56.4	9.6	16.4	15.3
Jun-11	56.6	9.3	16.0	14.5
Sep-11	56.9	9.3	16.3	12.7
Dec-11	57.2	9.5	15.5	13.3
Mar-12	57.0	9.7	15.6	14.0
Jun-12	57.6	9.2	15.1	13.4
Sep-12	58.5	8.3	15.1	14.4
Dec-12	59.3	8.6	14.4	15.0
Mar-13	58.7	8.8	13.9	16.7
Jun-13	57.6	9.6	14.0	16.1
Sep-13	59.0	8.9	14.1	17.1
Dec-13	58.6	8.7	14.2	17.3
Mar-14	58.7	9.1	13.9	17.7
Jun-14	58.5	9.5	13.7	17.3
Sep-14	58.1	9.1	13.8	16.1
Dec-14	57.1	9.4	13.9	16.5
Mar-15	55.8	9.3	13.6	17.7
Jun-15	56.1	9.6	13.9	16.2
Sep-15	55.7	9.1	14.2	14.5
Dec-15	56.6	9.3	14.3	15.9
Mar-16	56.1	8.7	14.1	14.1
Jun-16	56.3	8.5	14.2	13.7
Sep-16	57.4	8.2	13.8	14.3
Dec-16	58.2	8.4	13.3	15.3
Mar-17	58.6	8.5	13.0	16.2
Jun-17	58.7	8.8	12.9	14.9
Sep-17	59.0	9.2	13.0	15.0
Dec-17	59.6	8.8	13.1	15.1
Mar-18	58.6	8.9	13.5	14.0
Jun-18	58.3	8.9	13.6	14.2
Sep-18	59.3	8.1	14.0	14.1
Dec-18	58.5	8.6	13.9	13.0
Mar-19	58.3	8.5	13.6	13.3
Jun-19	57.7	7.7	13.6	14.0
Sep-19	57.5	7.4	13.4	14.1
Dec-19	58.1	8.0	12.9	13.2
Mar-20	55.7	6.8	12.5	9.1
Jun-20	58.4	6.5	11.9	10.5
Sep-20	60.9	6.0	11.4	10.2
Dec-20	60.4	6.4	11.0	12.1
Mar-21	62.1	6.8	10.4	13.6
Jun-21	62.8	6.9	10.5	14.3
Sep-21	63.3	7.3	10.0	14.5

Authorised deposit taking institutions' sources of funding

["","Deposits","Short-term debt securities","Bonds","Equities"]

[["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"],[[49.9],[52.3],[53.6],[52.9],[52.7],[52.7],[52.9],[53.6],[55],[55.9],[56.4],[56.6],[56.9],[57.2],[57],[57.6],[58.5],[59.3],[58.7],[57.6],[59],[58.6],[58.7],[58.5],[58.1],[57.1],[55.8],[56.1],[55.7],[56.6],[56.1],[56.3],[57.4],[58.2],[58.6],[58.7],[59],[59.6],[58.6],[58.3],[59.3],[58.5],[58.3],[57.7],[57.5],[58.1],[55.7],[58.4],[60.9],[60.4],[62.1],[62.8],[63.3]],[[17.1],[12.7],[11.2],[12],[11],[10.8],[10.6],[10.5],[9.2],[9.6],[9.6],[9.3],[9.3],[9.5],[9.7],[9.2],[8.3],[8.6],[8.8],[9.6],[8.9],[8.7],[9.1],[9.5],[9.1],[9.4],[9.3],[9.6],[9.1],[9.3],[8.7],[8.5],[8.2],[8.4],[8.5],[8.8],[9.2],[8.8],[8.9],[8.9],[8.1],[8.6],[8.5],[7.7],[7.4],[8],[6.8],[6.5],[6],[6.4],[6.8],[6.9],[7.3]],[[15.7],[17.6],[18.1],[17.1],[16.7],[18.4],[18.3],[18.5],[17.8],[16.9],[16.4],[16],[16.3],[15.5],[15.6],[15.1],[15.1],[14.4],[13.9],[14],[14.1],[14.2],[13.9],[13.7],[13.8],[13.9],[13.6],[13.9],[14.2],[14.3],[14.1],[14.2],[13.8],[13.3],[13],[12.9],[13],[13.1],[13.5],[13.6],[14],[13.9],[13.6],[13.6],[13.4],[12.9],[12.5],[11.9],[11.4],[11],[10.4],[10.5],[10]],[[13.2],[11.3],[11.9],[12.9],[16.9],[16.7],[17.3],[14.7],[15.5],[15.3],[15.3],[14.5],[12.7],[13.3],[14],[13.4],[14.4],[15],[16.7],[16.1],[17.1],[17.3],[17.7],[17.3],[16.1],[16.5],[17.7],[16.2],[14.5],[15.9],[14.1],[13.7],[14.3],[15.3],[16.2],[14.9],[15],[15.1],[14],[14.2],[14.1],[13],[13.3],[14],[14.1],[13.2],[9.1],[10.5],[10.2],[12.1],[13.6],[14.3],[14.5]]]

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ADI's share of funding from deposit increased this quarter following strong deposits growth from the household sector. In the September quarter,
ADIs' funding composition compared to the previous quarter comprised of:

63.3% from deposits, an increase from 62.8%
10.0% from bonds, a decrease from 10.5%
7.3% from short term debt securities, an increase from 6.9%
14.5% from equities, an increase from 14.3%

ADIs' funding from deposits grew $83.5b with a:

$72.1b increase from households
$6.3b increase from state and local general government
offset by a $7.5b decrease from pension funds

Change in authorised deposit taking institutions' assets
	Total assets	Deposits	Short-term debt	Bonds	Derivatives	Loans	Equities	Other accounts
Sep-08	68.6	14	0.9	-7.8	15	48.9	1.4	-4.5
Dec-08	28.2	13.8	-6.1	35.9	33.4	-50.5	-6.1	3.9
Mar-09	-2.5	-17.2	-0.9	30	-26.4	23.2	2.3	-11.8
Jun-09	31.5	7.6	7.3	23	-19.2	14.4	11.1	-10.7
Sep-09	31.4	-16.6	-3.5	3.3	-3.2	25.6	19.9	5.7
Dec-09	10.3	-3.4	-1.4	13.5	-21.5	30.9	-5.4	-4.9
Mar-10	18	1	-8.3	5.4	-5.5	30.2	-2.4	-0.5
Jun-10	45.4	4.5	-8.4	11	17.8	35.6	-15.7	1.6
Sep-10	30.2	-7.2	1.8	6.4	8.4	12.8	9.5	-1.9
Dec-10	9.7	8.1	-3.4	1.4	-14.2	16.3	-1.3	0.3
Mar-11	45.9	5.9	-3.1	1.8	-4.8	53.3	-5	0.5
Jun-11	32.3	-3.4	-0.9	18.8	-4	30	-8.6	0.3
Sep-11	98.1	7.2	0.2	36.7	33	31.1	-11.8	1.4
Dec-11	-14.8	-18.8	-4.5	-5.9	-17.2	22.6	9.2	-2.6
Mar-12	13.4	-5.8	5.4	25.7	-9.4	-3.2	-0.2	2.8
Jun-12	66	-6.5	1	8.6	27.5	36	0.5	-0.6
Sep-12	37.4	2.1	-0.8	44.9	3.4	-25	10.5	2.2
Dec-12	17.9	-5.7	-0.4	9.3	-19	26.7	6.5	-2.4
Mar-13	28.7	1.1	-8.3	10.2	-12.4	26.5	12	1
Jun-13	79.1	-4	-9.6	32	36.3	24.6	-1.1	2.1
Sep-13	18.4	-2.2	0.4	21.2	-35	26.1	10.3	-2.9
Dec-13	90	17.9	-7.7	-4.4	31.5	36.8	8.3	5.1
Mar-14	21.2	-0.1	-9.4	26.3	-22.2	26.8	0.6	1.3
Jun-14	66.4	0.8	5.4	15.8	-3.5	46.3	0.3	1.3
Sep-14	89	1.7	-4.2	40.1	44.5	12.7	-5.5	0.1
Dec-14	118	-3.5	3.9	48	47.6	14.4	6.7	-1.5
Mar-15	149	-1.1	0.5	32.6	34.4	61	19.8	2.3
Jun-15	-1.1	-3.2	-6.6	-4.3	-52.3	72.6	-8.4	2.7
Sep-15	139.2	3.3	2.2	24.2	72	47.7	-12	1.5
Dec-15	-12.4	3.6	-2.7	12.5	-64.2	26.3	12	-1.6
Mar-16	49.3	-0.2	4.1	5.5	40.8	12.8	-15	2.1
Jun-16	76.4	-0.3	-13.9	27.7	25.8	36.7	-1.5	3
Sep-16	5.3	-0.7	-6.8	12.7	-36.8	31.2	5.9	-0.7
Dec-16	67.5	1.1	2.1	-7	0.4	65.8	7	-3.7
Mar-17	-27.1	3.4	-4.9	11.6	-49.7	6.4	4.8	2.6
Jun-17	56.3	0.6	-4	-38.7	11.5	92	-9.8	5.3
Sep-17	-19.1	-1.9	-0.4	-18.3	-18.3	19.2	2.7	-2.3
Dec-17	20.5	-1.8	-6.5	12.9	12	3.1	5.4	-5.9
Mar-18	80.9	11	3.3	2.9	18.8	51.7	-10.2	4.3
Jun-18	37.6	-0.6	0.4	-8.7	15.1	29.6	4.7	-1.8
Sep-18	-2	2.7	-13.8	3.3	-17.4	22	0.2	0.4
Dec-18	52.6	-0.5	5.6	2.9	28.7	23.1	-10.5	1.4
Mar-19	29.4	0.5	-2.2	16.6	7.6	-6.1	8.3	4.9
Jun-19	78	1.7	-5.1	22.6	56.3	0.4	2.5	-0.2
Sep-19	105.3	3.1	-3.8	17.2	55.5	25.3	9.4	-0.8
Dec-19	-38.8	2.7	3.7	-19.1	-52.7	22.4	5.1	-1.9
Mar-20	467.4	78.1	8.2	222.9	251.9	-71.7	-42.4	19.1
Jun-20	-160.1	-24.6	8.6	129	-115.6	-153.1	1	-3
Sep-20	-67	-21.4	-16.9	-30.2	-40.3	19.9	1.4	20.2
Dec-20	17	48.4	-0.7	-78.8	23.4	27.8	3	-7.1
Mar-21	-34.3	98.7	-11.4	-95.6	-83.6	57.4	-6.8	7.7
Jun-21	22.4	133.1	-0.6	-133.3	-25.4	25.6	6.5	17.6
Sep-21	113.6	55.1	-8.9	15.8	-9.9	60.2	0	1.4

Change in authorised deposit taking institutions' assets

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

[["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"],[[68.6],[28.2],[-2.5],[31.5],[31.4],[10.3],[18],[45.4],[30.2],[9.7],[45.9],[32.3],[98.1],[-14.8],[13.4],[66],[37.4],[17.9],[28.7],[79.1],[18.4],[90],[21.2],[66.4],[89],[118],[149],[-1.1],[139.2],[-12.4],[49.3],[76.4],[5.3],[67.5],[-27.1],[56.3],[-19.1],[20.5],[80.9],[37.6],[-2],[52.6],[29.4],[78],[105.3],[-38.8],[467.4],[-160.1],[-67],[17],[-34.3],[22.4],[113.6]],[[14],[13.8],[-17.2],[7.6],[-16.6],[-3.4],[1],[4.5],[-7.2],[8.1],[5.9],[-3.4],[7.2],[-18.8],[-5.8],[-6.5],[2.1],[-5.7],[1.1],[-4],[-2.2],[17.9],[-0.1],[0.8],[1.7],[-3.5],[-1.1],[-3.2],[3.3],[3.6],[-0.2],[-0.3],[-0.7],[1.1],[3.4],[0.6],[-1.9],[-1.8],[11],[-0.6],[2.7],[-0.5],[0.5],[1.7],[3.1],[2.7],[78.1],[-24.6],[-21.4],[48.4],[98.7],[133.1],[55.1]],[[0.9],[-6.1],[-0.9],[7.3],[-3.5],[-1.4],[-8.3],[-8.4],[1.8],[-3.4],[-3.1],[-0.9],[0.2],[-4.5],[5.4],[1],[-0.8],[-0.4],[-8.3],[-9.6],[0.4],[-7.7],[-9.4],[5.4],[-4.2],[3.9],[0.5],[-6.6],[2.2],[-2.7],[4.1],[-13.9],[-6.8],[2.1],[-4.9],[-4],[-0.4],[-6.5],[3.3],[0.4],[-13.8],[5.6],[-2.2],[-5.1],[-3.8],[3.7],[8.2],[8.6],[-16.9],[-0.7],[-11.4],[-0.6],[-8.9]],[[-7.8],[35.9],[30],[23],[3.3],[13.5],[5.4],[11],[6.4],[1.4],[1.8],[18.8],[36.7],[-5.9],[25.7],[8.6],[44.9],[9.3],[10.2],[32],[21.2],[-4.4],[26.3],[15.8],[40.1],[48],[32.6],[-4.3],[24.2],[12.5],[5.5],[27.7],[12.7],[-7],[11.6],[-38.7],[-18.3],[12.9],[2.9],[-8.7],[3.3],[2.9],[16.6],[22.6],[17.2],[-19.1],[222.9],[129],[-30.2],[-78.8],[-95.6],[-133.3],[15.8]],[[15],[33.4],[-26.4],[-19.2],[-3.2],[-21.5],[-5.5],[17.8],[8.4],[-14.2],[-4.8],[-4],[33],[-17.2],[-9.4],[27.5],[3.4],[-19],[-12.4],[36.3],[-35],[31.5],[-22.2],[-3.5],[44.5],[47.6],[34.4],[-52.3],[72],[-64.2],[40.8],[25.8],[-36.8],[0.4],[-49.7],[11.5],[-18.3],[12],[18.8],[15.1],[-17.4],[28.7],[7.6],[56.3],[55.5],[-52.7],[251.9],[-115.6],[-40.3],[23.4],[-83.6],[-25.4],[-9.9]],[[48.9],[-50.5],[23.2],[14.4],[25.6],[30.9],[30.2],[35.6],[12.8],[16.3],[53.3],[30],[31.1],[22.6],[-3.2],[36],[-25],[26.7],[26.5],[24.6],[26.1],[36.8],[26.8],[46.3],[12.7],[14.4],[61],[72.6],[47.7],[26.3],[12.8],[36.7],[31.2],[65.8],[6.4],[92],[19.2],[3.1],[51.7],[29.6],[22],[23.1],[-6.1],[0.4],[25.3],[22.4],[-71.7],[-153.1],[19.9],[27.8],[57.4],[25.6],[60.2]],[[1.4],[-6.1],[2.3],[11.1],[19.9],[-5.4],[-2.4],[-15.7],[9.5],[-1.3],[-5],[-8.6],[-11.8],[9.2],[-0.2],[0.5],[10.5],[6.5],[12],[-1.1],[10.3],[8.3],[0.6],[0.3],[-5.5],[6.7],[19.8],[-8.4],[-12],[12],[-15],[-1.5],[5.9],[7],[4.8],[-9.8],[2.7],[5.4],[-10.2],[4.7],[0.2],[-10.5],[8.3],[2.5],[9.4],[5.1],[-42.4],[1],[1.4],[3],[-6.8],[6.5],[0]],[[-4.5],[3.9],[-11.8],[-10.7],[5.7],[-4.9],[-0.5],[1.6],[-1.9],[0.3],[0.5],[0.3],[1.4],[-2.6],[2.8],[-0.6],[2.2],[-2.4],[1],[2.1],[-2.9],[5.1],[1.3],[1.3],[0.1],[-1.5],[2.3],[2.7],[1.5],[-1.6],[2.1],[3],[-0.7],[-3.7],[2.6],[5.3],[-2.3],[-5.9],[4.3],[-1.8],[0.4],[1.4],[4.9],[-0.2],[-0.8],[-1.9],[19.1],[-3],[20.2],[-7.1],[7.7],[17.6],[1.4]]]

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Pension (superannuation) funds

Financial assets

Pension (superannuation) funds' selected financial assets, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	21.2	2,650.3	34.4	2,808.6	17.0	2,864.4
Deposits	-0.4	245.9	5.7	251.9	-9.1	243.5
Bonds	2.7	119.6	-0.5	119.7	-3.4	118.1
Shares and equity	22.1	2,151.8	24.5	2,298.0	36.8	2,370.9
	Other private non-fin corps	0.6	366.5	-2.4	394.6	-0.1	393.8
	Non-money market investment funds	9.5	914.8	7.1	963.3	10.7	989.5
	Rest of world	10.2	432.5	17.4	474.1	23.3	506.8
Net equity in life offices	-0.3	17.7	-0.8	17.8	-0.5	17.4
Other assets	-2.8	115.2	5.5	121.2	-6.8	114.4

Liabilities

Pension (superannuation) funds' selected liabilities, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	20.0	2,864.5	37.7	3,032.7	21.2	3,097.8
Net equity in reserves	19.0	2,820.0	34.5	2,978.2	23.9	3,043.8
	Households	18.9	2,816.3	34.3	2,974.1	23.8	3,039.6
Other liabilities	1.0	44.6	3.2	54.5	-2.7	54.0

Total financial assets of pension (superannuation) funds increased 2.0% ($55.8b), with:

$72.9b increase in shares and other equity
$8.4b decrease in deposits

Favourable conditions in the domestic and overseas share markets drove valuation gains of $36.1b. Pension funds invested an additional $36.8b in shares and other equity, particularly in rest of world. Deposit levels decreased after the increase in June quarter 2021 as pension funds allocated excess funds to equities.

Pension funds' financial assets
	Total assets (RHS) ($b)	Revaluations (LHS) ($b)	Transactions (LHS) ($b)
Sep-08	1,042.7	-58.9	17.9
Dec-08	943.3	-105.4	5.9
Mar-09	919.1	-29.3	5.2
Jun-09	991.4	37.1	35.2
Sep-09	1,099.9	90.9	17.6
Dec-09	1,139.1	25.4	13.8
Mar-10	1,165.0	8.4	17.5
Jun-10	1,103.9	-77.2	16.1
Sep-10	1,146.3	33.2	9.1
Dec-10	1,190.9	29.3	15.4
Mar-11	1,218.2	10.1	17.1
Jun-11	1,209.0	-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	29.2	24.6
Mar-14	1,544.3	14.9	20.8
Jun-14	1,575.8	-0.5	32.1
Sep-14	1,611.6	11.8	24.0
Dec-14	1,665.8	32.3	21.8
Mar-15	1,762.5	79.9	16.8
Jun-15	1,745.0	-52.6	35.1
Sep-15	1,719.0	-45.4	19.4
Dec-15	1,775.1	39.6	16.5
Mar-16	1,748.7	-33.8	7.4
Jun-16	1,821.6	42.6	30.3
Sep-16	1,895.5	61.4	12.5
Dec-16	1,947.7	32.9	19.4
Mar-17	2,001.8	35.0	19.0
Jun-17	2,050.6	9.4	39.5
Sep-17	2,064.4	2.9	10.9
Dec-17	2,158.1	72.9	20.9
Mar-18	2,143.7	-29.5	15.1
Jun-18	2,217.9	50.4	23.8
Sep-18	2,265.4	36.4	11.2
Dec-18	2,154.5	-126.2	15.3
Mar-19	2,287.7	118.8	14.4
Jun-19	2,392.1	76.3	28.1
Sep-19	2,452.8	47.3	13.3
Dec-19	2,506.4	29.3	24.3
Mar-20	2,246.8	-272.3	12.6
Jun-20	2,391.2	131.1	13.3
Sep-20	2,420.7	22.2	7.3
Dec-20	2,582.8	145.3	16.8
Mar-21	2,650.3	46.2	21.2
Jun-21	2,808.6	124.0	34.4
Sep-21	2,864.4	38.7	17.0

Pension funds' financial assets

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

[["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"],[[1042.7],[943.3],[919.1],[991.4],[1099.9],[1139.1],[1165],[1103.9],[1146.3],[1190.9],[1218.2],[1209],[1136.8],[1146.6],[1207.1],[1202.4],[1247.2],[1298.2],[1361.1],[1378.8],[1454.8],[1508.7],[1544.3],[1575.8],[1611.6],[1665.8],[1762.5],[1745],[1719],[1775.1],[1748.7],[1821.6],[1895.5],[1947.7],[2001.8],[2050.6],[2064.4],[2158.1],[2143.7],[2217.9],[2265.4],[2154.5],[2287.7],[2392.1],[2452.8],[2506.4],[2246.8],[2391.2],[2420.7],[2582.8],[2650.3],[2808.6],[2864.4]],[[-58.9],[-105.4],[-29.3],[37.1],[90.9],[25.4],[8.4],[-77.2],[33.2],[29.3],[10.1],[-34.8],[-83.4],[-3.3],[41.8],[-37.7],[30.7],[34.2],[43.8],[-20.6],[62.5],[29.2],[14.9],[-0.5],[11.8],[32.3],[79.9],[-52.6],[-45.4],[39.6],[-33.8],[42.6],[61.4],[32.9],[35],[9.4],[2.9],[72.9],[-29.5],[50.4],[36.4],[-126.2],[118.8],[76.3],[47.3],[29.3],[-272.3],[131.1],[22.2],[145.3],[46.2],[124],[38.7]],[[17.9],[5.9],[5.2],[35.2],[17.6],[13.8],[17.5],[16.1],[9.1],[15.4],[17.1],[25.7],[11.1],[13.1],[18.7],[33.1],[14.1],[16.7],[19.1],[38.2],[13.5],[24.6],[20.8],[32.1],[24],[21.8],[16.8],[35.1],[19.4],[16.5],[7.4],[30.3],[12.5],[19.4],[19],[39.5],[10.9],[20.9],[15.1],[23.8],[11.2],[15.3],[14.4],[28.1],[13.3],[24.3],[12.6],[13.3],[7.3],[16.8],[21.2],[34.4],[17]]]

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Government

National general government financial assets

National general government selected financial assets, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	3.1	636.2	0.4	652.4	10.1	674.2
Deposits	-15.0	85.4	1.6	87.1	3.9	91.4
	Central bank	-13.7	61.2	0.4	61.6	1.4	63.0
	Authorised deposit taking institutions	-0.7	18.6	1.2	19.9	1.7	21.7
One name paper	6.0	47.2	-3.2	44.3	0.9	45.7
Shares and equity	0.8	180.3	5.4	198.8	-0.2	207.2
Other assets	11.2	323.3	-3.4	322.1	5.5	330.0

National general government liabilities

National general government selected liabilities, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	17.6	1,377.4	9.8	1,379.4	38.8	1,407.7
One name paper	-8.1	33.3	-6.1	27.3	-0.5	26.8
Bonds	24.2	857.8	6.2	873.4	25.3	900.6
	Central bank	61.5	169.7	36.2	209.6	51.2	261.6
	Authorised deposit taking institutions	-34.3	138.8	-30.7	110.4	-6.5	104.3
	Rest of world	-3.8	429.9	3.2	434.7	-15.5	419.0
Other liabilities	1.4	486.3	9.7	478.8	13.9	480.2

State and local general government financial assets

State and local general government selected financial assets, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total assets	0.7	591.8	7.4	580.8	7.4	592.3
Deposits	0.0	78.5	3.2	81.7	6.4	88.1
Loans and placements	2.5	51.6	9.3	60.9	-0.6	60.3
Shares and equity	-1.0	433.8	-7.6	407.9	0.0	412.1
	State and local PNFCs	0.0	347.3	0.0	320.5	0.0	324.5
	Other private non-fin corps	0.1	47.3	-7.7	47.8	0.3	47.8
Other assets	-0.8	27.9	2.5	30.4	1.5	31.9

State and local general government liabilities

State and local general government selected liabilities, $b
		Transactions, Mar-21	Amounts outstanding, Mar-21	Transactions, Jun-21	Amounts outstanding, Jun-21	Transactions, Sep-21	Amounts outstanding, Sep-21
Total liabilities	-3.1	517.3	14.6	524.3	25.0	542.4
Loans and placements	-4.9	290.3	7.6	297.9	22.3	320.2
	Central borrowing authorities	-0.9	265.8	7.9	273.6	23.1	296.7
Unfunded superannuation claims	0.9	161.2	0.8	154.4	0.9	148.4
Other liabilities	0.9	65.8	6.2	72.0	1.8	73.8

General government

General government (national, and state and local) were net borrowers of $46.2b, driven by:

$25.5b in loan borrowings, and
$23.9b issuance of bonds

Loan liabilities of state and local general government increased as state governments introduced support payments to households and businesses affected by COVID-19 lockdowns. Similarly, treasury bond issuance increased to fund support payments to households and health spending in response to the COVID-19 Delta variant outbreak.

General government's change in financial position
	Net lending/borrowing	Deposits	Notes	Bonds	Loans	Other
Sep-08	3.9	-11.9	-2.9	4.2	18.6	-4.2
Dec-08	-6.9	-6.2	-10.3	6.2	-5.3	8.7
Mar-09	-1.6	8.4	2.9	-6.9	0.7	-6.6
Jun-09	-18.2	15.9	-4.8	-10	-1.2	-18.1
Sep-09	-29.4	-8.4	3.1	-5.5	-12.5	-6.1
Dec-09	-18.9	-3.2	-10.5	-11.9	-1.1	7.8
Mar-10	-13.8	2.8	-1.8	-10.8	-3.5	-0.5
Jun-10	-11.2	6	-2.3	-16.1	-1.2	2.5
Sep-10	-25.1	-5.8	-8.7	-6.5	-5.5	1.4
Dec-10	-15.2	-2.5	0.2	-11.6	4.9	-6.2
Mar-11	-17.3	2	0.3	-12.5	-4.5	-2.6
Jun-11	-20.2	8	1.2	-10.4	-7.6	-11.3
Sep-11	-30.5	-3.5	-0.3	-21.4	-13.9	8.5
Dec-11	-14.7	11.3	0.9	-22	-2.1	-2.9
Mar-12	-11.2	3.4	-1.7	-13.9	1.7	-0.8
Jun-12	-32.2	-7.4	1.4	-4.9	-7.3	-14
Sep-12	-26.2	9.3	-3.5	-15.2	-17.4	0.6
Dec-12	-11.1	2.9	-5.3	-10.8	7.5	-5.4
Mar-13	-17.3	0.5	1.8	-13.3	-3.7	-2.5
Jun-13	-11.3	1	14.3	-8.7	3.5	-21.4
Sep-13	-21.1	6	-1.5	-24.7	-12.2	11.3
Dec-13	-9	5.6	-0.4	-16.4	1.8	0.4
Mar-14	-11.7	13.5	8.6	-27.8	-3.3	-2.8
Jun-14	-12.2	-8.4	-3.3	-4.6	-1.2	5.3
Sep-14	-18.7	6.5	-1.7	-18.4	-4.2	-0.9
Dec-14	-13.8	0.4	-1.1	-10.9	-0.4	-1.8
Mar-15	-4.8	12.2	3.5	-16	-1.2	-3.4
Jun-15	-4.4	-5.1	-0.2	-7.2	5.8	2.3
Sep-15	-16.3	1.9	-1.9	-26.2	-2.7	12.5
Dec-15	-5.4	-7	5.8	-7.6	8.5	-5.1
Mar-16	-10.3	9.3	1.7	-22.1	0	0.8
Jun-16	-7.9	1.1	0.5	-4.8	-2.3	-2.4
Sep-16	-21.8	-3.1	3.7	-24	-0.3	1.9
Dec-16	-19.4	11.5	0.8	-23.7	9.4	-17.3
Mar-17	2.3	7.9	0.5	-20.7	2.3	12.2
Jun-17	-12.3	15.7	6.9	-19.8	0.1	-15.2
Sep-17	-17.8	-24.2	0.5	-0.9	-3	9.8
Dec-17	-3	8.6	-5.6	-14.7	1.3	7.4
Mar-18	-0.3	-1	-2.2	-5.1	2.3	5.7
Jun-18	-0.4	5	6.2	-11.3	6.2	-6.6
Sep-18	-18.6	-3.3	-0.4	-2.3	-1.5	-11.1
Dec-18	-10.4	-18.2	2	-2.3	-4	12.1
Mar-19	-3.3	-1.4	1.6	3.7	-2.3	-5
Jun-19	-12.9	6.6	0	-10.4	-5.3	-3.8
Sep-19	-25.5	0.3	-1.2	-13.8	-9.8	-1
Dec-19	-12.9	-7.7	-3.8	1	-4	1.6
Mar-20	-17.8	20.9	-16.4	-15.9	-15.1	8.7
Jun-20	-95.9	47.1	-25.8	-70.9	-27.8	-18.5
Sep-20	-119.8	39.1	0.1	-117.1	-31.9	-10
Dec-20	-51.6	-32.7	16.4	-23	-21.3	8.9
Mar-21	-10.8	-15	14	-22.6	9.1	3.7
Jun-21	-16.6	4.8	4.6	-5.7	-0.4	-20
Sep-21	-46.2	10.3	2	-23.9	-25.5	-9.2

General government's change in financial position

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

[["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"],[[3.9],[-6.9],[-1.6],[-18.2],[-29.4],[-18.9],[-13.8],[-11.2],[-25.1],[-15.2],[-17.3],[-20.2],[-30.5],[-14.7],[-11.2],[-32.2],[-26.2],[-11.1],[-17.3],[-11.3],[-21.1],[-9],[-11.7],[-12.2],[-18.7],[-13.8],[-4.8],[-4.4],[-16.3],[-5.4],[-10.3],[-7.9],[-21.8],[-19.4],[2.3],[-12.3],[-17.8],[-3],[-0.3],[-0.4],[-18.6],[-10.4],[-3.3],[-12.9],[-25.5],[-12.9],[-17.8],[-95.9],[-119.8],[-51.6],[-10.8],[-16.6],[-46.2]],[[-11.9],[-6.2],[8.4],[15.9],[-8.4],[-3.2],[2.8],[6],[-5.8],[-2.5],[2],[8],[-3.5],[11.3],[3.4],[-7.4],[9.3],[2.9],[0.5],[1],[6],[5.6],[13.5],[-8.4],[6.5],[0.4],[12.2],[-5.1],[1.9],[-7],[9.3],[1.1],[-3.1],[11.5],[7.9],[15.7],[-24.2],[8.6],[-1],[5],[-3.3],[-18.2],[-1.4],[6.6],[0.3],[-7.7],[20.9],[47.1],[39.1],[-32.7],[-15],[4.8],[10.3]],[[-2.9],[-10.3],[2.9],[-4.8],[3.1],[-10.5],[-1.8],[-2.3],[-8.7],[0.2],[0.3],[1.2],[-0.3],[0.9],[-1.7],[1.4],[-3.5],[-5.3],[1.8],[14.3],[-1.5],[-0.4],[8.6],[-3.3],[-1.7],[-1.1],[3.5],[-0.2],[-1.9],[5.8],[1.7],[0.5],[3.7],[0.8],[0.5],[6.9],[0.5],[-5.6],[-2.2],[6.2],[-0.4],[2],[1.6],[0],[-1.2],[-3.8],[-16.4],[-25.8],[0.1],[16.4],[14],[4.6],[2]],[[4.2],[6.2],[-6.9],[-10],[-5.5],[-11.9],[-10.8],[-16.1],[-6.5],[-11.6],[-12.5],[-10.4],[-21.4],[-22],[-13.9],[-4.9],[-15.2],[-10.8],[-13.3],[-8.7],[-24.7],[-16.4],[-27.8],[-4.6],[-18.4],[-10.9],[-16],[-7.2],[-26.2],[-7.6],[-22.1],[-4.8],[-24],[-23.7],[-20.7],[-19.8],[-0.9],[-14.7],[-5.1],[-11.3],[-2.3],[-2.3],[3.7],[-10.4],[-13.8],[1],[-15.9],[-70.9],[-117.1],[-23],[-22.6],[-5.7],[-23.9]],[[18.6],[-5.3],[0.7],[-1.2],[-12.5],[-1.1],[-3.5],[-1.2],[-5.5],[4.9],[-4.5],[-7.6],[-13.9],[-2.1],[1.7],[-7.3],[-17.4],[7.5],[-3.7],[3.5],[-12.2],[1.8],[-3.3],[-1.2],[-4.2],[-0.4],[-1.2],[5.8],[-2.7],[8.5],[0],[-2.3],[-0.3],[9.4],[2.3],[0.1],[-3],[1.3],[2.3],[6.2],[-1.5],[-4],[-2.3],[-5.3],[-9.8],[-4],[-15.1],[-27.8],[-31.9],[-21.3],[9.1],[-0.4],[-25.5]],[[-4.2],[8.7],[-6.6],[-18.1],[-6.1],[7.8],[-0.5],[2.5],[1.4],[-6.2],[-2.6],[-11.3],[8.5],[-2.9],[-0.8],[-14],[0.6],[-5.4],[-2.5],[-21.4],[11.3],[0.4],[-2.8],[5.3],[-0.9],[-1.8],[-3.4],[2.3],[12.5],[-5.1],[0.8],[-2.4],[1.9],[-17.3],[12.2],[-15.2],[9.8],[7.4],[5.7],[-6.6],[-11.1],[12.1],[-5],[-3.8],[-1],[1.6],[8.7],[-18.5],[-10],[8.9],[3.7],[-20],[-9.2]]]

[]

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Capital investment

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

Net lending (+) / borrowing (-)

Australia's net lending position increased by $1.1b to $23.7b this quarter. This was driven by a:

$6.6b decrease in change in inventories

Partially offset by:

$2.8b decrease in national net savings
$2.3b increase in gross fixed capital formation

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted
	Net lending / net borrowing relative to GDP (%)
Sep-64	-2.5
Dec-64	-2.3
Mar-65	-3.3
Jun-65	-3.3
Sep-65	-4.4
Dec-65	-3.7
Mar-66	-2.8
Jun-66	-1.8
Sep-66	-1.9
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	-0.9
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	-0.8
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	-4.4
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	-3.0
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	-3.1
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	-5.0
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	-3.5
Mar-01	-2.5
Jun-01	-2.2
Sep-01	-1.8
Dec-01	-2.8
Mar-02	-2.7
Jun-02	-3.7
Sep-02	-4.0
Dec-02	-5.0
Mar-03	-5.0
Jun-03	-5.6
Sep-03	-5.4
Dec-03	-5.4
Mar-04	-5.7
Jun-04	-5.6
Sep-04	-6.7
Dec-04	-7.2
Mar-05	-6.6
Jun-05	-5.8
Sep-05	-6.0
Dec-05	-5.8
Mar-06	-5.4
Jun-06	-6.3
Sep-06	-5.9
Dec-06	-5.9
Mar-07	-6.1
Jun-07	-6.7
Sep-07	-7.0
Dec-07	-7.2
Mar-08	-6.7
Jun-08	-5.9
Sep-08	-4.1
Dec-08	-2.9
Mar-09	-1.4
Jun-09	-5.1
Sep-09	-5.3
Dec-09	-6.4
Mar-10	-5.4
Jun-10	-3.0
Sep-10	-3.1
Dec-10	-3.3
Mar-11	-3.4
Jun-11	-3.2
Sep-11	-2.6
Dec-11	-2.9
Mar-12	-4.7
Jun-12	-3.8
Sep-12	-4.4
Dec-12	-4.7
Mar-13	-3.5
Jun-13	-3.6
Sep-13	-3.8
Dec-13	-2.7
Mar-14	-2.7
Jun-14	-3.1
Sep-14	-3.4
Dec-14	-3.0
Mar-15	-3.4
Jun-15	-5.2
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	-1.9
Jun-17	-2.5
Sep-17	-2.7
Dec-17	-3.3
Mar-18	-2.6
Jun-18	-3.0
Sep-18	-2.1
Dec-18	-1.1
Mar-19	-0.8
Jun-19	0.7
Sep-19	1.5
Dec-19	0.8
Mar-20	1.4
Jun-20	3.5
Sep-20	2.1
Dec-20	3.3
Mar-21	3.7
Jun-21	4.2
Sep-21	4.4

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

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

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National net lending as a proportion of GDP rose this quarter driven largely by a rundown in private non-farm inventories.

Households' net lending increased by $27.1b to $54.1b
Financial corporations' net lending decreased by $0.1b to $5.2b
Non-financial corporations' net lending decreased by $0.8b to $8.7b
General government net borrowing increased by $23.3b to $43.3b

Notable drivers for general government and households were:

General government net savings decreased strongly this quarter due to a decrease in individual income taxes and an increase in income payable. Social assistance benefits in cash to residents and subsidies payable drove the increase in income payable due to increased COVID-19 disaster payments, JobSaver and other COVID-19 business support programs.
Household net saving rose driven by increased social assistance benefits and a fall in household final consumption due to COVID-19 restrictions across a number of states.

Net lending (+) / borrowing (-), by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
Sep-08	-19.7	13.0	-2.2	-2.5
Dec-08	-13.4	10.1	-12.8	10.2
Mar-09	-8.8	6.8	-11.5	6.8
Jun-09	-14.4	7.6	-21.9	11.3
Sep-09	-9.9	-0.4	-14.1	5.7
Dec-09	-7.6	6.3	-19.9	3.8
Mar-10	-9.4	6.4	-21.8	6.0
Jun-10	-7.2	13.1	-16.4	3.4
Sep-10	-10.1	10.4	-15.8	5.8
Dec-10	-11.4	9.2	-15.7	10.0
Mar-11	-17.2	8.5	-17.1	11.1
Jun-11	-19.3	13.2	-16.7	9.5
Sep-11	-15.0	11.6	-16.2	11.8
Dec-11	-17.4	11.0	-19.5	15.5
Mar-12	-25.0	12.3	-14.1	10.7
Jun-12	-21.3	10.7	-19.5	13.4
Sep-12	-23.6	12.3	-13.0	6.0
Dec-12	-28.8	11.6	-11.7	9.6
Mar-13	-22.2	9.8	-14.3	12.0
Jun-13	-26.0	10.0	-4.8	10.5
Sep-13	-21.2	9.2	-12.2	9.5
Dec-13	-22.1	8.9	-11.7	11.6
Mar-14	-20.8	9.3	-12.1	11.3
Jun-14	-22.8	8.0	-8.3	12.8
Sep-14	-23.4	8.7	-10.7	10.6
Dec-14	-20.2	6.1	-10.6	10.2
Mar-15	-23.1	7.8	-8.1	8.4
Jun-15	-22.7	5.4	-7.1	10.4
Sep-15	-25.0	7.9	-7.0	6.6
Dec-15	-24.7	9.0	-7.0	3.0
Mar-16	-22.4	8.3	-11.2	3.0
Jun-16	-20.5	9.0	-11.8	3.8
Sep-16	-17.3	9.2	-10.8	3.1
Dec-16	-10.1	7.3	-5.7	1.1
Mar-17	-10.4	5.6	-3.1	1.6
Jun-17	-11.3	7.8	-8.3	0.5
Sep-17	-14.5	8.5	-5.5	0.5
Dec-17	-15.1	5.4	-6.7	2.9
Mar-18	-16.3	8.4	-6.4	1.6
Jun-18	-22.0	7.3	-4.7	0.1
Sep-18	-14.4	7.6	-5.5	2.0
Dec-18	-12.4	6.7	-7.7	5.2
Mar-19	-11.3	7.7	-8.8	9.0
Jun-19	-6.2	7.2	-5.9	8.4
Sep-19	-4.6	6.7	-12.1	16.8
Dec-19	-5.8	4.4	-12.2	14.5
Mar-20	-3.4	2.7	-15.3	23.2
Jun-20	31.3	14.4	-102.4	72.4
Sep-20	32.1	7.9	-92.4	62.0
Dec-20	23.5	5.6	-51.9	37.1
Mar-21	13.1	1.5	-32.8	34.4
Jun-21	9.5	5.3	-20.1	27.0
Sep-21	8.7	5.2	-43.4	54.1

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

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

[["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"],[[-19.7],[-13.4],[-8.8],[-14.4],[-9.9],[-7.6],[-9.4],[-7.2],[-10.1],[-11.4],[-17.2],[-19.3],[-15],[-17.4],[-25],[-21.3],[-23.6],[-28.8],[-22.2],[-26],[-21.2],[-22.1],[-20.8],[-22.8],[-23.4],[-20.2],[-23.1],[-22.7],[-25],[-24.7],[-22.4],[-20.5],[-17.3],[-10.1],[-10.4],[-11.3],[-14.5],[-15.1],[-16.3],[-22],[-14.4],[-12.4],[-11.3],[-6.2],[-4.6],[-5.8],[-3.4],[31.3],[32.1],[23.5],[13.1],[9.5],[8.7]],[[13],[10.1],[6.8],[7.6],[-0.4],[6.3],[6.4],[13.1],[10.4],[9.2],[8.5],[13.2],[11.6],[11],[12.3],[10.7],[12.3],[11.6],[9.8],[10],[9.2],[8.9],[9.3],[8],[8.7],[6.1],[7.8],[5.4],[7.9],[9],[8.3],[9],[9.2],[7.3],[5.6],[7.8],[8.5],[5.4],[8.4],[7.3],[7.6],[6.7],[7.7],[7.2],[6.7],[4.4],[2.7],[14.4],[7.9],[5.6],[1.5],[5.3],[5.2]],[[-2.2],[-12.8],[-11.5],[-21.9],[-14.1],[-19.9],[-21.8],[-16.4],[-15.8],[-15.7],[-17.1],[-16.7],[-16.2],[-19.5],[-14.1],[-19.5],[-13],[-11.7],[-14.3],[-4.8],[-12.2],[-11.7],[-12.1],[-8.3],[-10.7],[-10.6],[-8.1],[-7.1],[-7],[-7],[-11.2],[-11.8],[-10.8],[-5.7],[-3.1],[-8.3],[-5.5],[-6.7],[-6.4],[-4.7],[-5.5],[-7.7],[-8.8],[-5.9],[-12.1],[-12.2],[-15.3],[-102.4],[-92.4],[-51.9],[-32.8],[-20.1],[-43.4]],[[-2.5],[10.2],[6.8],[11.3],[5.7],[3.8],[6],[3.4],[5.8],[10],[11.1],[9.5],[11.8],[15.5],[10.7],[13.4],[6],[9.6],[12],[10.5],[9.5],[11.6],[11.3],[12.8],[10.6],[10.2],[8.4],[10.4],[6.6],[3],[3],[3.8],[3.1],[1.1],[1.6],[0.5],[0.5],[2.9],[1.6],[0.1],[2],[5.2],[9],[8.4],[16.8],[14.5],[23.2],[72.4],[62],[37.1],[34.4],[27],[54.1]]]

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Capital Investment

National capital investment increased to 23.4% as a proportion of GDP:
Relative to GDP:

Non-financial corporations' investment increased to 10.1%
Household investment increased to 8.6%
Financial corporations' investment increased slightly at 0.6%
General government investment was flat at 4.2%

Non-financial corporations' investment rose, driven by increased investment in private non-dwelling construction.
Household investment rose driven by ownership transfer costs, new dwellings and home improvement investment. The government's HomeBuilder program supported increased housing investment. and households continued to invest in home improvements.
General government was flat as a proportion of GDP but investment fell driven by weakness in state and local general government reflecting a fall in new building, road and rail investment in lock down affected states.

Gross fixed capital formation, by sector, relative to GDP, seasonally adjusted
	Non-financial corporations (%)	Financial corporations (%)	General government (%)	Households (%)
Sep-08	14.8	0.7	3.4	9.1
Dec-08	15.0	0.7	3.4	8.9
Mar-09	14.4	0.7	3.4	8.6
Jun-09	14.8	0.7	3.3	8.6
Sep-09	14.0	0.7	3.7	8.6
Dec-09	14.3	0.7	4.1	8.7
Mar-10	13.5	0.7	4.6	8.3
Jun-10	13.2	0.6	4.2	8.2
Sep-10	13.2	0.6	4.1	8.4
Dec-10	13.3	0.6	4.0	8.1
Mar-11	13.8	0.6	3.8	8.1
Jun-11	13.8	0.6	3.3	7.9
Sep-11	15.1	0.6	3.4	7.6
Dec-11	14.9	0.6	4.1	7.4
Mar-12	16.3	0.6	3.3	7.3
Jun-12	16.9	0.6	3.6	7.2
Sep-12	16.8	0.7	3.4	7.4
Dec-12	17.3	0.7	3.3	7.4
Mar-13	16.1	0.6	3.4	7.3
Jun-13	16.0	0.6	3.0	7.5
Sep-13	16.1	0.6	3.1	7.5
Dec-13	15.7	0.6	3.2	7.6
Mar-14	15.1	0.6	3.2	7.7
Jun-14	14.8	0.6	3.2	7.8
Sep-14	14.1	0.7	3.2	8.3
Dec-14	13.9	0.7	3.1	8.7
Mar-15	13.5	0.7	3.0	8.9
Jun-15	13.4	0.6	3.2	8.9
Sep-15	12.8	0.7	2.9	9.2
Dec-15	12.6	0.7	3.0	9.3
Mar-16	11.9	0.7	3.5	9.3
Jun-16	11.3	0.7	3.6	9.4
Sep-16	10.7	0.7	3.2	9.4
Dec-16	10.8	0.6	3.3	9.3
Mar-17	10.4	0.6	3.5	9.2
Jun-17	10.2	0.6	4.1	9.2
Sep-17	11.3	0.5	3.7	9.0
Dec-17	11.0	0.7	3.8	9.0
Mar-18	10.9	0.7	3.7	9.1
Jun-18	10.8	0.6	3.9	9.1
Sep-18	10.9	0.6	3.9	8.7
Dec-18	10.6	0.6	3.9	8.4
Mar-19	10.6	0.6	3.9	8.0
Jun-19	10.5	0.6	3.9	7.7
Sep-19	10.6	0.6	3.9	7.6
Dec-19	10.4	0.6	4.0	7.6
Mar-20	10.4	0.5	3.9	7.6
Jun-20	10.9	0.6	4.2	7.5
Sep-20	10.1	0.5	4.0	7.6
Dec-20	9.8	0.5	4.0	7.8
Mar-21	9.8	0.5	3.9	8.2
Jun-21	9.9	0.5	4.2	8.2
Sep-21	10.1	0.6	4.2	8.6

Gross fixed capital formation, by sector, relative to GDP, seasonally adjusted

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

[["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"],[[14.8],[15],[14.4],[14.8],[14],[14.3],[13.5],[13.2],[13.2],[13.3],[13.8],[13.8],[15.1],[14.9],[16.3],[16.9],[16.8],[17.3],[16.1],[16],[16.1],[15.7],[15.1],[14.8],[14.1],[13.9],[13.5],[13.4],[12.8],[12.6],[11.9],[11.3],[10.7],[10.8],[10.4],[10.2],[11.3],[11],[10.9],[10.8],[10.9],[10.6],[10.6],[10.5],[10.6],[10.4],[10.4],[10.9],[10.1],[9.8],[9.8],[9.9],[10.1]],[[0.7],[0.7],[0.7],[0.7],[0.7],[0.7],[0.7],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.7],[0.7],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.7],[0.7],[0.7],[0.6],[0.7],[0.7],[0.7],[0.7],[0.7],[0.6],[0.6],[0.6],[0.5],[0.7],[0.7],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.6],[0.5],[0.6],[0.5],[0.5],[0.5],[0.5],[0.6]],[[3.4],[3.4],[3.4],[3.3],[3.7],[4.1],[4.6],[4.2],[4.1],[4],[3.8],[3.3],[3.4],[4.1],[3.3],[3.6],[3.4],[3.3],[3.4],[3],[3.1],[3.2],[3.2],[3.2],[3.2],[3.1],[3],[3.2],[2.9],[3],[3.5],[3.6],[3.2],[3.3],[3.5],[4.1],[3.7],[3.8],[3.7],[3.9],[3.9],[3.9],[3.9],[3.9],[3.9],[4],[3.9],[4.2],[4],[4],[3.9],[4.2],[4.2]],[[9.1],[8.9],[8.6],[8.6],[8.6],[8.7],[8.3],[8.2],[8.4],[8.1],[8.1],[7.9],[7.6],[7.4],[7.3],[7.2],[7.4],[7.4],[7.3],[7.5],[7.5],[7.6],[7.7],[7.8],[8.3],[8.7],[8.9],[8.9],[9.2],[9.3],[9.3],[9.4],[9.4],[9.3],[9.2],[9.2],[9],[9],[9.1],[9.1],[8.7],[8.4],[8],[7.7],[7.6],[7.6],[7.6],[7.5],[7.6],[7.8],[8.2],[8.2],[8.6]]]

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Data downloads

Download all (10.24 MB)

Time series spreadsheets

Data files

TABLE 1. Credit Market Outstandings ($ million)
Download xlsx [265.54 KB]
TABLE 2. Demand for Credit ($ million)
Download xlsx [248.93 KB]
TABLE 3. National Capital Account, Current prices ($ million)
Download xlsx [80.46 KB]
TABLE 4. National Financial Assets and Liabilities ($ million)
Download xlsx [103.79 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)
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TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)
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TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)
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TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)
Download xlsx [228.03 KB]
TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)
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TABLE 11. Public Non-Financial Corporations Capital Account, Current prices ($ million)
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TABLE 12. Financial Assets and Liabilities of Public Non-Financial Corporations ($ million)
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TABLE 13. Financial Corporations Capital Account, Current prices ($ million)
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TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)
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TABLE 15. Financial Assets and Liabilities of the Central Bank ($ million)
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TABLE 16. Financial Assets and Liabilities of Authorised Deposit taking Institutions ($ million)
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TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)
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TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)
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TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)
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TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)
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TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)
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TABLE 22. Financial Assets and Liabilities of Money Market Financial Investment Funds ($ million)
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TABLE 23. Financial Assets and Liabilities of Non-Money Market Financial Investment Funds ($ million)
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TABLE 24. Financial Assets and Liabilities of Central Borrowing Authorities ($ million)
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TABLE 25. Financial Assets and Liabilities of Securitisers ($ million)
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TABLE 26. Financial Assets and Liabilities of Other Financial Corporations ($ million)
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TABLE 27. General Government Capital Account, Current prices ($ million)
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TABLE 28. Financial Assets and Liabilities of General Government ($ million)
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TABLE 29. National General Government Capital Account, Current prices ($ million)
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TABLE 30. Financial Assets and Liabilities of National General Government ($ million)
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TABLE 31. State and Local General Government Capital Account, Current prices ($ million)
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TABLE 32. Financial Assets and Liabilities of State and Local General Government ($ million)
Download xlsx [190.54 KB]
TABLE 33. Household Capital Account, Current prices ($ million)
Download xlsx [76.97 KB]
TABLE 34. Financial Assets and Liabilities of Households ($ million)
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TABLE 35. Household Balance Sheet, Current prices ($ billion)
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TABLE 36. Analytical Measures of Household Income, Consumption, Saving and Wealth, Current prices ($ billion)
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TABLE 37. Rest of World Capital Account, Current prices ($ million)
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TABLE 38. Financial Assets and Liabilities of Rest of World ($ million)
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TABLE 39. The Currency Market ($ million)
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TABLE 40. The Transferable Deposits Market ($ million)
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TABLE 41. The Other Deposits Market ($ million)
Download xlsx [126.12 KB]
TABLE 42. The Bills of Exchange Market ($ million)
Download xlsx [106.66 KB]
TABLE 43. The One Name Paper Market ($ million)
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TABLE 44. The Bonds Market ($ million)
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TABLE 45. The Derivatives and Employee Stock Options Market ($ million)
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TABLE 46. The Short Term Loans and Placements Market ($ million)
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TABLE 47. The Long Term Loans and Placements Market ($ million)
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TABLE 48. The Listed Shares and Other Equity Market ($ million)
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TABLE 49. The Unlisted Shares and Other Equity Market ($ million)
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TABLE 50. Accounts Payable/Receivable ($ million)
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TABLE 51. Financial Accounts Summary of Authorised Deposit taking Institution Deposits and Lending Split by Household Subsectors ($ million)
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TABLE 52. Financial Accounts Summary of Loan Outstandings to Households for Housing by Type of Lending Institution ($ million)
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TABLE 53. Nominal Value of Short Term Loans and Placements Market ($ million)
Download xlsx [147.98 KB]
TABLE 54. Nominal Value of Long Term Loans and Placements Market ($ million)
Download xlsx [347.64 KB]

Previous catalogue number

This release previously used catalogue number 5232.0

Revisions and changes

Revisions in this issue

This issue contains revisions to the original estimates of the capital accounts back to September quarter 1988 due to the incorporation of revisions to GDP and its components from the 2019-20 annual supply and use tables and the income accounts.
This issue incorporates the new derivative data from the Economic ad Financial Statistics (EFS) collection for authorised deposit taking institutions (ADIs) and registered financial corporations (RFCs). The derivative data will only impact the financial accounts and financial balance sheets of the national accounts.
The implementation of the EFS data will result in changes to both gross positions and flows of ADI and RFC derivatives, and changes to the counterparty sectoral distributions. It will also see the introduction of estimates for two new counterparty sectors.

Private non-financial investment funds, and
The household sector (reflecting the use of derivatives by family trusts to hedge interest rates).

A technical note discussing the changes can be found here.

Post release changes

16/12/21 A correction was made to the Key Statistics regarding Household wealth.

Methodology

Australian National Accounts: Finance and Wealth methodology, September 2021

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APA

Australian National Accounts: Finance and Wealth

APA

Key statistics

Main features

Technical note

Financing resources and investment table

Financial market summary table

Flow of funds diagrams

Net transactions during September quarter 2021

Amounts outstanding at end of September quarter 2021

National investment

Financial investment

Households

Non-financial corporations

General government

Demand for credit

Demand for credit table

General government

Households

Private non-financial corporations

Households

Balance sheet

Financial assets

Liabilities

Non-financial assets

Financial assets

Liabilities

Private non-financial corporations

Financial assets

Liabilities

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)