Latest release

Australian National Accounts: Finance and Wealth

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

Reference period

March 2022

Released

23/06/2022

Key statistics

Household wealth rose $172.8b (1.2%) to a record $14,891b
Demand for credit was at a record $218.8b, an increase of $103.9b
Australia's net lending position fell $8.6b to $2.7b
Capital investment as a proportion of GDP fell to 22.7%

Main features

Financing resources and investment table

Financing resources and investment March quarter 2022, original, current prices, $b
			Non-financial corps	Financial corps	Government	Households	Total national	Rest of world
Financing resources
	Net saving (a)		-6.4	16.3	-2.5	40.0	47.4	-7.7
	plus Consumption of fixed capital		45.3	3.2	11.5	33.1	93.1	-
	Gross saving		38.9	19.5	9.0	73.0	140.5	-7.7
	plus Net capital transfers		0.2	0.0	-1.6	1.2	-0.2	0.2
	less Statistical discrepancy (b)		-	-	-	-	7.7	-
	Total financing resources		39.1	19.5	7.4	74.3	132.6	-7.6
Uses of financing (investment)
	Capital formation
		Gross fixed capital formation	52.6	2.9	20.6	44.2	120.2	-
		plus Changes in inventories	3.3	0.0	1.5	0.1	4.8	-
		plus Net acquisition of non-produced non-financial assets	-0.3	-	0.3	-	-	-
		Total capital formation	55.5	2.9	22.4	44.3	125.1	-
	plus Financial investment
		Aquistition of financial assets	119.4	102.5	13.8	52.4	120.4	117.6
		less Incurrence of financial liabilities	164.5	56.6	19.7	44.5	117.6	120.4
		Net Financial investment (Net lending (+) / net borrowing (-))	-45.1	45.9	-5.9	7.8	2.7	-2.7
	less Net errors and omissions		-28.7	29.3	9.1	-22.2	-4.8	4.8
	Total investment		39.1	19.5	7.4	74.3	132.6	-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

Financial market summary, $b
		Amounts outstanding, Dec-21	Transactions, Mar-22	Other changes, Mar-22	Amounts outstanding, Mar-22
Currency and deposits
	Currency	107.0	-0.7	-	106.3
	Transferable deposits	2,187.4	44.6	-4.9	2,227.2
	Other deposits	1,378.9	35.9	-7.4	1,407.4
Short term debt securities
	Bills of exchange	8.3	-0.3	-	8.0
	One name paper	523.2	-11.4	-7.8	503.9
Long term debt securities
	Bonds, etc.	3,226.2	168.0	-165.6	3,228.5
Derivatives
	Derivatives	713.6	-154.4	354.0	913.2
Loans and placements
	Short term	401.0	14.4	-5.9	409.4
	Long term	4,318.7	62.6	-23.1	4,358.2
Shares and other equity
	Listed	2,645.9	45.8	18.5	2,710.1
	Unlisted	5,646.3	190.4	-143.1	5,693.6
Insurance technical reserves
	Reserves of pension funds and life	3,279.0	25.6	-73.2	3,231.4
	General insurance payments	155.4	-5.2	0.0	150.2

- nil or rounded to zero

Flow of funds diagrams

Image

Net transactions during March quarter 2022

This is a flowchart that shows the intersectoral financial flows of net transactions during the March quarter 2022.

Description

Net transactions during March quarter 2022

Financial corporations borrowed $11.9b from household. They lent $28.1b to non-financial corporation, $26.2b to rest of world and $11.9b to general government.
Rest of the world lent $5.0b to non-financial corporations, $2.2b to general government and $0.4b to household.
General government borrowed $1.6b from households. They lent $0.4b to non-financial corporations.
Households lent $1.0b to non-financial corporations.

Image

Amounts outstanding at end of March quarter 2022

This is a flowchart that shows the intersectoral financial flows of amounts outstanding at the end of the March quarter 2022.

Description

Amounts outstanding at end of March quarter 2022

Net claims on non-financial corporations were $1,260.5b from financial corporations, $811.9b from households, $1,015.7b from rest of world and $409.2b from general government.
Net claims on general government were $452.4b from financial corporations, $232.5b from rest of world and $509.8b from households.
Net claims on rest of world were $143.3b from financial corporations and $171.7b from households.
Net claims on financial corporations were $2,494.6b from households.

National investment

National investment decreased $14.9b to $125.1b in the March quarter.

General government investment decreased by $0.2b to $22.4b driven by a decrease in gross fixed capital formation in both state and local general government and national general government. This was partially offset by an increase in acquisitions less disposals of non-produced non-financial assets.
Non-financial corporations' investment decreased by $8.3b to $55.5b, driven by decreases in gross fixed capital formation and acquisitions less disposals of non-produced non-financial assets.
Household investment decreased by $6.1b to $44.3b, driven by decreases in gross fixed capital formation and changes in inventories.

Financial investment

Australia was a net lender of $2.7b to rest of world (ROW). The main contributors were a:

$119.6b acquisition of ROW equity assets, driven by other private non-financial corporations (OPNFCs)
offset by $120.5b of OPNFC-issued equity held by ROW

Heightened levels of equity issuance during the quarter was dominated by a corporate restructure, which resulted in investor funds from ROW repatriated to the Australian stock market (ASX) and the corporation acquiring significant amounts of ROW equity assets. Other merger and acquisition activity by OPNFCs contributed to Australia's net acquisition of ROW equity assets.

Households

Households' $7.8b net lending position was due to a $52.4b acquisition of financial assets, partly offset by a $44.5b incurrence of liabilities.
The acquisition of assets was driven by:

$35.4b in deposits
$28.2b in net equity in pension funds

While liabilities were driven by:

$41.9b in loan borrowings

Deposits assets continued to grow, though at a reduced pace as spending continued to increase following the easing of COVID-19 restrictions. Acquisition of net equity in pension funds reflected continued growth in employment. Decreased activity in the property market in the early months of the new year and repayments made on outstanding credit card balances following the holiday spending period contributed to lower demand for loan borrowings by households this quarter.

Non-financial corporations

Non-financial corporations' $45.1b net borrowing position was due to a $119.4b acquisition of financial assets, offset by $164.5b incurrence of liabilities. Liabilities were driven by:

$135.4b in equity raising
$17.4b in loan borrowing

The significant corporate restructure during the quarter was reflected in non-financial corporations raising equity. Loan borrowing by private non-financial corporations continued to strengthen as economic activity increased due to a positive economic outlook over the quarter.

General government

General government's $5.9b net borrowing position was due to a $19.7b incurrence of liabilities partly offset by a $13.8b acquisition of assets. Liabilities were driven by:

$23.1b net issuance of bonds

The Commonwealth government continued to undertake steady issuance of bonds over the quarter, with funds raised assisting government support measures relating to floods in south-east Queensland and northern NSW, as well as support relating to the Omicron variant. Level of net issuance of bonds was higher than the previous quarter due to a minimal amount of bond maturities during the quarter.

Net financial investment (net lending (+) / borrowing (-))
	National net financial investment ($b)	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
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	6.0	-10.6	1.7	-12.7	27.7
Mar-20	9.0	-6.8	11.2	-17.9	22.6
Jun-20	17.5	45.9	4.1	-95.6	63.1
Sep-20	6.3	29.6	12.4	-116.8	81.1
Dec-20	15.0	28.6	1.6	-51.0	35.8
Mar-21	16.0	0.6	18.3	-11.3	8.4
Jun-21	26.0	32.6	-8.0	-19.1	20.4
Sep-21	15.4	-20.4	25.4	-47.4	57.9
Dec-21	11.3	-6.7	13.9	-23.7	27.8
Mar-22	2.7	-45.1	45.9	-5.9	7.8

["","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, Dec-21	Demand for credit, Mar-22	Other changes, Mar-22	Credit market outstandings, Mar-22
Non-financial corporations
	Investment funds	551.6	8.9	-12.4	548.1
	Other private	4,095.4	153.2	10.8	4,259.5
	Public	160.0	-2.7	-4.4	152.9
General government
	National	921.2	18.0	-58.5	880.6
	State and local	327.9	-0.4	-17.0	310.5
Households		2,595.4	41.9	-0.8	2,636.5
Total		8,651.7	218.8	-82.4	8,788.0

- nil or rounded to zero

Demand for credit was $218.8b in the March quarter, of which:

other private non-financial corporations borrowed $153.2b
households borrowed $41.9b
general government borrowed $17.5b

Credit market outstanding grew $136.3b (1.6%) of which $82.4b was revaluation losses. Bond yields rose as increased inflationary pressures emerged which drove holding losses on Commonwealth government bonds of $58.5b. This was partly offset by holding gains on the equity of other private non-financial corporations of $26.4b as the domestic share market outperformed its overseas counterparts due to its greater composition of resource companies which benefitted from rising commodity prices.

The credit market aggregates were dominated by the impacts of large transactions resulting from a corporate restructure this quarter. A large corporate group transferred its dual overseas listing to the Australian Securities Exchange. The transfer has been treated as a transaction in these statistics in accordance with treatments of similar restructuring activity in the past. The treatment is also consistent with the treatment in the balance of payments and international investment position statistics.

Private non-financial corporations

Private non-financial corporations demand for credit was the highest on record mainly driven by a corporate restructure which was captured in equity raising. Reinvested earnings also contributed to strength in equity capital investment by non-residents. Strong export revenue on energy and mineral resources drove large operating surpluses for some foreign owned companies which were predominantly retained and reinvested by these businesses. Business credit was the strongest since March quarter 2020 driven by loan borrowing from Authorised deposit taking institutions which reflects improvements in economic conditions as businesses looked past Omicron variant of COVID-19 disruptions towards a favourable future operating environment. Funds of other private non-financial corporations were sourced through:

equity raising of $128.6b
loan borrowings of $16.8b

Households

Household credit growth remained strong this quarter as elevated housing market activity continued to drive demand for new housing loans from both owner-occupiers and investors. This was partly offset by repayment of short term loans coming off seasonally stronger December quarter consumer spending. This was reflected in:

$42.9b of long term loan borrowings
$936m repayment of short term loans

General government

The pace of debt issuance by the Australian Office of Financial Management has slowed following two years of extraordinary growth in government debt to fund fiscal support measures during the pandemic. This quarter net issuance of Australian government securities was used to finance social assistance payments made during the Omicron outbreak and provide relief to the flood-affected regions in northern NSW and south-east Queensland. The government financed its activity through:

$21.3b bond issuance by national general government
partly offset by maturities of Treasury notes of $5.8b

Demand for credit by sector
	Other private non-financial corporations	Households	General government	Other
Mar-09	16.8	10.8	13.7	3.4
Jun-09	3.5	26.9	27.9	2.2
Sep-09	18.8	26.1	18	4.3
Dec-09	6.7	22.7	13.8	1.2
Mar-10	2.6	18.2	20.6	-0.2
Jun-10	0.8	29.2	21	7.5
Sep-10	15.4	16.9	18.6	6.5
Dec-10	20.2	23.3	12.3	-1.9
Mar-11	6.4	21.4	18.1	2.6
Jun-11	6.1	27.2	19	-1.5
Sep-11	30.8	7.4	28.2	2.1
Dec-11	-4.6	16.7	21.4	6.3
Mar-12	28.1	11.6	16.7	2.2
Jun-12	16.3	23	12.9	1.7
Sep-12	16.3	1.9	28.7	5.1
Dec-12	15.4	14.8	10.9	5.5
Mar-13	23.2	11.8	10.2	2.7
Jun-13	37.1	26.9	-9.1	2
Sep-13	24.5	4.3	29.8	0.5
Dec-13	35.4	30.3	20.4	7.3
Mar-14	8.2	18.7	20.9	4.6
Jun-14	31.6	34.2	9.2	11
Sep-14	33.7	19.8	23.9	-5.5
Dec-14	35.3	26.2	12.7	5.9
Mar-15	42.6	25	17.7	8.5
Jun-15	26.1	39.2	1.5	9
Sep-15	38.9	18.2	37.8	4.5
Dec-15	33.4	23.1	0.4	6.5
Mar-16	30.7	25.3	23.5	4.7
Jun-16	11.1	34.7	4.4	4.9
Sep-16	21.1	28.6	25.5	5
Dec-16	57	20.7	14.2	-11.9
Mar-17	5.7	21.6	18.8	4.4
Jun-17	37.3	40.6	19	1.1
Sep-17	33.2	18.2	4.4	5.2
Dec-17	31.2	28.1	16.1	5.6
Mar-18	39.2	19.6	5.7	2.9
Jun-18	14.3	27.5	10.1	2.5
Sep-18	67.3	13.9	5.5	8.8
Dec-18	8.4	19.7	7	3.1
Mar-19	43.7	10.2	2.4	6
Jun-19	40.8	16.4	15	-2.1
Sep-19	12.8	-7.2	27	9.4
Dec-19	18.8	19.4	13.5	5.4
Mar-20	51.8	3.1	38	5.9
Jun-20	-7.2	15.3	138	10.5
Sep-20	1.3	9	145.3	8.4
Dec-20	0.1	23	29.8	10.6
Mar-21	13.7	25.7	10.5	1.7
Jun-21	2.9	44.4	8.3	19.8
Sep-21	44.4	46.3	48.9	8.9
Dec-21	29.6	53.9	18.1	13.3
Mar-22	153.2	41.9	17.5	6.1

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

[["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"],[[16.800000000000001],[3.5],[18.800000000000001],[6.7000000000000002],[2.6000000000000001],[0.80000000000000004],[15.4],[20.199999999999999],[6.4000000000000004],[6.0999999999999996],[30.800000000000001],[-4.5999999999999996],[28.100000000000001],[16.300000000000001],[16.300000000000001],[15.4],[23.199999999999999],[37.100000000000001],[24.5],[35.399999999999999],[8.1999999999999993],[31.600000000000001],[33.700000000000003],[35.299999999999997],[42.600000000000001],[26.100000000000001],[38.899999999999999],[33.399999999999999],[30.699999999999999],[11.1],[21.100000000000001],[57],[5.7000000000000002],[37.299999999999997],[33.200000000000003],[31.199999999999999],[39.200000000000003],[14.300000000000001],[67.299999999999997],[8.4000000000000004],[43.700000000000003],[40.799999999999997],[12.800000000000001],[18.800000000000001],[51.799999999999997],[-7.2000000000000002],[1.3],[0.10000000000000001],[13.699999999999999],[2.8999999999999999],[44.399999999999999],[29.600000000000001],[153.19999999999999]],[[10.800000000000001],[26.899999999999999],[26.100000000000001],[22.699999999999999],[18.199999999999999],[29.199999999999999],[16.899999999999999],[23.300000000000001],[21.399999999999999],[27.199999999999999],[7.4000000000000004],[16.699999999999999],[11.6],[23],[1.8999999999999999],[14.800000000000001],[11.800000000000001],[26.899999999999999],[4.2999999999999998],[30.300000000000001],[18.699999999999999],[34.200000000000003],[19.800000000000001],[26.199999999999999],[25],[39.200000000000003],[18.199999999999999],[23.100000000000001],[25.300000000000001],[34.700000000000003],[28.600000000000001],[20.699999999999999],[21.600000000000001],[40.600000000000001],[18.199999999999999],[28.100000000000001],[19.600000000000001],[27.5],[13.9],[19.699999999999999],[10.199999999999999],[16.399999999999999],[-7.2000000000000002],[19.399999999999999],[3.1000000000000001],[15.300000000000001],[9],[23],[25.699999999999999],[44.399999999999999],[46.299999999999997],[53.899999999999999],[41.899999999999999]],[[13.699999999999999],[27.899999999999999],[18],[13.800000000000001],[20.600000000000001],[21],[18.600000000000001],[12.300000000000001],[18.100000000000001],[19],[28.199999999999999],[21.399999999999999],[16.699999999999999],[12.9],[28.699999999999999],[10.9],[10.199999999999999],[-9.0999999999999996],[29.800000000000001],[20.399999999999999],[20.899999999999999],[9.1999999999999993],[23.899999999999999],[12.699999999999999],[17.699999999999999],[1.5],[37.799999999999997],[0.40000000000000002],[23.5],[4.4000000000000004],[25.5],[14.199999999999999],[18.800000000000001],[19],[4.4000000000000004],[16.100000000000001],[5.7000000000000002],[10.1],[5.5],[7],[2.3999999999999999],[15],[27],[13.5],[38],[138],[145.30000000000001],[29.800000000000001],[10.5],[8.3000000000000007],[48.899999999999999],[18.100000000000001],[17.5]],[[3.3999999999999999],[2.2000000000000002],[4.2999999999999998],[1.2],[-0.20000000000000001],[7.5],[6.5],[-1.8999999999999999],[2.6000000000000001],[-1.5],[2.1000000000000001],[6.2999999999999998],[2.2000000000000002],[1.7],[5.0999999999999996],[5.5],[2.7000000000000002],[2],[0.5],[7.2999999999999998],[4.5999999999999996],[11],[-5.5],[5.9000000000000004],[8.5],[9],[4.5],[6.5],[4.7000000000000002],[4.9000000000000004],[5],[-11.9],[4.4000000000000004],[1.1000000000000001],[5.2000000000000002],[5.5999999999999996],[2.8999999999999999],[2.5],[8.8000000000000007],[3.1000000000000001],[6],[-2.1000000000000001],[9.4000000000000004],[5.4000000000000004],[5.9000000000000004],[10.5],[8.4000000000000004],[10.6],[1.7],[19.800000000000001],[8.9000000000000004],[13.300000000000001],[6.0999999999999996]]]

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Households

Balance sheet

Household balance sheet, $b
		Amounts outstanding, Dec-21	Transactions, Mar-22	Other changes (a), Mar-22	Holding gains/losses, Mar-22	Amounts outstanding, Mar-22
Non-financial assets
	Land and dwellings	9,958.8	9.5	7.2	201.3	10,176.8
	Other non-financial assets	718.6	1.7	-	6.8	727.1
Financial assets
	Superannuation reserves	3,700.2	28.2	-	-76.8	3,651.6
	Shares and other equity	1,219.4	-4.4	-	18.4	1,233.4
	Currency and deposits	1,465.1	35.2	-	-1.2	1,499.1
	Other financial assets	388.5	-6.6	-	-2.8	379.2
Liabilities
	Loans	2,590.3	41.9	-	-0.8	2,631.5
	Other liabilities	142.1	2.6	-	-	144.7
Wealth (Net worth)		14,718.1	19.0	7.2	146.6	14,890.9
Memorandum item
	Consumer durables (b)	470.7	4.7	-	-	478.9

- nil or rounded to zero
(a) Not all other changes in volume are separately identifiable. Some have been shown as holding gains.
(b) Consumer durables are not included in net worth.

Financial assets

Household selected financial assets, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets		108.0	6,602.6	85.0	6,773.2	52.4	6,763.2
Deposits		71.7	1,369.2	46.0	1,415.2	35.4	1,449.4
Shares and equity		0.4	1,199.1	2.9	1,219.4	-4.4	1,233.4
Net equity in reserves		26.0	3,191.4	24.4	3,286.3	25.3	3,237.9
	Pension funds	23.0	3,039.1	27.5	3,133.2	25.1	3,087.5
Other assets		9.9	842.9	11.7	852.3	-3.9	842.5

Liabilities

Household selected liabilities, $b
	Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities	50.2	2,674.3	57.2	2,732.7	44.5	2,776.5
Short term loans	-4.1	57.9	1.5	59.5	-0.9	58.5
Long term loans	50.7	2,477.2	52.5	2,530.9	42.9	2,572.9
Other liabilities	3.6	139.2	3.2	142.3	2.6	145.0

Household wealth rose 1.2% ($172.8b) to a record $14,890.9b at the end of the March quarter, however this was the lowest growth since March quarter 2020. Household wealth was driven by continued strength in the housing market and offset by revaluation losses in superannuation assets.

Wealth per capita increased 0.6% ($3,695) to $574,807 per person.

Non-financial assets

Non-financial assets owned by households increased 2.1% ($226.5b), driven by a:

$210.4b rise in residential land and dwellings

Holding gains on residential land and dwellings reflected the continued growth in property prices due to low interest rates and increased market activity.

Financial assets

Financial assets of households fell 0.1% (-$10.0b), driven by a:

$48.6b fall in superannuation reserves, offset by
$34.2b rise in deposits
$14.0b rise in shares and other equity

Revaluations drove the decrease in superannuation reserves reflective of the negative performance of overseas share markets. Poor performance of the overseas markets came through both their direct investment and through their investment in non-money market funds. Transactions in superannuation ($28.2b) offset revaluation losses reflecting continued employment growth.

Growth in deposits was stable in the months of January and February, however, stronger savings were made in the month of March due to falls in consumer confidence. Shares and other equity increased, reflective of valuation changes in other private non-financial corporations, including in households incorporated businesses.

Liabilities

Household liabilities increased 1.6% ($43.8b), driven by a:

$33.7b rise in housing loans, offset by
$0.9b fall in short term loans

The growth in housing loans reflects the increased activity in the property market as housing stock levels increased and auction clearance rates remained high. The rise was mainly driven by owner-occupied loans, which increased $24.1b. Investor loans also contributed $9.6b to the rise, recording a fourth consecutive increase.

Lower levels of retail spending compared to December quarter contributed to the decrease in short term loans.

Household wealth, contribution to growth, quarterly
	Net worth	Assets: Land and dwellings	Assets: Superannuation	Assets: Equity	Liabilities: Housing loans	Assets: Deposits
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	-2.2	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	4.6	3.4	0.9	0.3	-0.3	0
Sep-21	5.4	4.5	0.5	0.1	-0.3	0.5
Dec-21	4.5	3.6	0.7	0.1	-0.3	0.3
Mar-22	1.2	1.5	-0.3	0.1	-0.3	0.2

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Private non-financial corporations

Financial assets

Private non-financial corporations' selected financial assets, $b
	Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets	35.3	1,823.5	33.2	1,888.7	119.4	2,011.1
Deposits	2.1	755.4	11.6	766.4	12.1	775.5
Shares and equity	19.8	639.3	25.3	686.2	103.9	784.7
Other accounts receivable	6.8	219.0	-4.9	224.9	-2.5	231.0
Other assets	6.6	209.9	1.2	211.2	6.0	219.9

Liabilities

Private non-financial corporations' selected liabilities, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities		59.7	4,738.5	39.6	4,861.9	164.9	5,015.3
Total debt securities		-4.8	295.5	1.1	289.7	6.2	278.0
Loans		16.7	936.5	0.9	934.5	19.8	954.0
	Authorised deposit taking institutions	13.4	596.2	20.0	615.6	27.4	641.2
	Rest of world	0.6	245.8	-17.2	226.3	-1.0	226.9
Shares and equity		42.0	3,247.8	38.9	3,381.1	135.5	3,532.5
	Households	1.7	781.1	5.0	800.8	1.1	811.6
	Rest of world	34.3	1,207.5	25.3	1,254.6	113.7	1,369.3
Other liabilities		5.8	258.8	-1.3	256.5	3.5	250.8

Private non-financial corporations demand for credit of $164.9b, was driven by:

$135,4b raising of equity,
$19.8b borrowing of loans, and
$7.0b issuance of debt securities

Private non-financial corporations' demand for credit
	Total liabilities	Debt securities	Loans	Equities
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
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	6.8	-2.7	13.9
Dec-12	18.1	6	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	16	23.8
Mar-14	12.2	-3.8	3.9	12.7
Jun-14	29.9	-5.3	19.5	21
Sep-14	40.5	6.1	8.8	19
Dec-14	32	-7.3	8.6	31.3
Mar-15	45.6	5	25.3	17.9
Jun-15	39.3	10.6	-1.2	26.5
Sep-15	47.4	-7	29.5	19.4
Dec-15	37	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	6.8	5	30.5
Sep-17	49	-3.8	9.7	33.5
Dec-17	30.1	-6.4	8.2	31
Mar-18	47.2	3.7	16	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	7.3	12.6
Dec-19	18.9	-0.8	1	24.1
Mar-20	58.6	-5.2	47	11.5
Jun-20	-4.7	-1.3	-28	31.7
Sep-20	13.3	-8.7	-6.3	25.5
Dec-20	9.2	-17.4	-9.9	32.9
Mar-21	25.3	1.7	10.6	4.8
Jun-21	15.1	-3.3	4.9	8.7
Sep-21	59.7	-4.8	16.7	42
Dec-21	39.6	1.1	0.9	38.9
Mar-22	167.3	6.2	19.8	135.4

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

[["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"],[[7.2000000000000002],[-12.4],[30.300000000000001],[6.7000000000000002],[-0.10000000000000001],[8.5999999999999996],[21.399999999999999],[21.800000000000001],[6.2999999999999998],[0.5],[30.699999999999999],[6.2999999999999998],[28.199999999999999],[21.199999999999999],[20],[18.100000000000001],[24.300000000000001],[37.100000000000001],[24.300000000000001],[43.200000000000003],[12.199999999999999],[29.899999999999999],[40.5],[32],[45.600000000000001],[39.299999999999997],[47.399999999999999],[37],[34.899999999999999],[13.9],[31.600000000000001],[61.700000000000003],[18.800000000000001],[49],[49],[30.100000000000001],[47.200000000000003],[14.1],[78.700000000000003],[6.2999999999999998],[44.700000000000003],[30.600000000000001],[26.600000000000001],[18.899999999999999],[58.600000000000001],[-4.7000000000000002],[13.300000000000001],[9.1999999999999993],[25.300000000000001],[15.1],[59.700000000000003],[39.600000000000001],[167.30000000000001]],[[12.6],[7.0999999999999996],[1.6000000000000001],[1.8],[0.80000000000000004],[-1.3],[8.5],[-4.7000000000000002],[3.2999999999999998],[0.59999999999999998],[6.9000000000000004],[7.2000000000000002],[10.199999999999999],[-1.2],[6.7999999999999998],[6],[3.7000000000000002],[-1.8999999999999999],[8.9000000000000004],[1],[-3.7999999999999998],[-5.2999999999999998],[6.0999999999999996],[-7.2999999999999998],[5],[10.6],[-7],[7.2999999999999998],[4.4000000000000004],[-8.8000000000000007],[-7.4000000000000004],[1.3],[-10.199999999999999],[6.7999999999999998],[-3.7999999999999998],[-6.4000000000000004],[3.7000000000000002],[8.0999999999999996],[-0.80000000000000004],[-4.4000000000000004],[-4.0999999999999996],[3.7999999999999998],[-1],[-0.80000000000000004],[-5.2000000000000002],[-1.3],[-8.6999999999999993],[-17.399999999999999],[1.7],[-3.2999999999999998],[-4.7999999999999998],[1.1000000000000001],[6.2000000000000002]],[[-21.600000000000001],[-29.800000000000001],[-11.199999999999999],[-7.2000000000000002],[-9.8000000000000007],[-7.5],[-5.7000000000000002],[-10.300000000000001],[6.0999999999999996],[-6.5],[16.399999999999999],[-1.1000000000000001],[6.9000000000000004],[13.300000000000001],[-2.7000000000000002],[1.3],[11.4],[17.399999999999999],[0.69999999999999996],[16],[3.8999999999999999],[19.5],[8.8000000000000007],[8.5999999999999996],[25.300000000000001],[-1.2],[29.5],[12.6],[16.399999999999999],[2.2999999999999998],[11.5],[12.699999999999999],[3.6000000000000001],[5],[9.6999999999999993],[8.1999999999999993],[16],[-14.5],[31.100000000000001],[6.2999999999999998],[28.699999999999999],[2.5],[7.2999999999999998],[1],[47],[-28],[-6.2999999999999998],[-9.9000000000000004],[10.6],[4.9000000000000004],[16.699999999999999],[0.90000000000000002],[19.800000000000001]],[[25.300000000000001],[27.600000000000001],[30.100000000000001],[11.300000000000001],[8.0999999999999996],[12.699999999999999],[15.6],[35.100000000000001],[0],[9.5999999999999996],[5.7999999999999998],[-5.9000000000000004],[12.9],[3.8999999999999999],[13.9],[11.699999999999999],[12.6],[23.5],[13.6],[23.800000000000001],[12.699999999999999],[21],[19],[31.300000000000001],[17.899999999999999],[26.5],[19.399999999999999],[18.800000000000001],[13.9],[16.699999999999999],[23.100000000000001],[45.799999999999997],[16.5],[30.5],[33.5],[31],[23.699999999999999],[21.199999999999999],[45.700000000000003],[5.9000000000000004],[22.600000000000001],[29.100000000000001],[12.6],[24.100000000000001],[11.5],[31.699999999999999],[25.5],[32.899999999999999],[4.7999999999999998],[8.6999999999999993],[42],[38.899999999999999],[135.40000000000001]]]

[]

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Private non-financial corporations strongly favoured the raising of equity over the incurrence of debt in order to source funds. This was supported by a significant corporate restructure during the quarter, and the continued strength of reinvested earnings. This resulted in:

debt to equity ratio (adjusted for price changes) decreasing to 0.61

Demand for loan borrowings was its strongest since March 2020 quarter, reflecting businesses looking past the impacts of the Omicron variant and towards favourable future operating conditions. Despite this, the significant amount of equity issued by private non-financial corporations this quarter has outweighed the stronger demand for loan borrowings, resulting in the decrease in the debt to equity ratio (both adjusted and unadjusted for price changes). The debt to equity ratio (adjusted for price) is now at its lowest level since December 2004.

Private non-financial corporations' debt to equity ratio
	Debt to equity ratio, adjusted for price changes, March 2002 base	Debt to equity ratio
Mar-02	0.57	0.57
Jun-02	0.57	0.60
Sep-02	0.58	0.62
Dec-02	0.58	0.59
Mar-03	0.58	0.59
Jun-03	0.57	0.57
Sep-03	0.57	0.54
Dec-03	0.56	0.52
Mar-04	0.56	0.50
Jun-04	0.57	0.50
Sep-04	0.58	0.48
Dec-04	0.61	0.48
Mar-05	0.61	0.48
Jun-05	0.69	0.52
Sep-05	0.71	0.50
Dec-05	0.72	0.51
Mar-06	0.74	0.50
Jun-06	0.75	0.52
Sep-06	0.76	0.52
Dec-06	0.80	0.51
Mar-07	0.82	0.50
Jun-07	0.82	0.49
Sep-07	0.86	0.51
Dec-07	0.89	0.54
Mar-08	0.91	0.60
Jun-08	0.92	0.60
Sep-08	0.94	0.69
Dec-08	0.95	0.81
Mar-09	0.91	0.79
Jun-09	0.85	0.70
Sep-09	0.82	0.63
Dec-09	0.81	0.60
Mar-10	0.80	0.60
Jun-10	0.79	0.64
Sep-10	0.78	0.60
Dec-10	0.75	0.55
Mar-11	0.75	0.55
Jun-11	0.74	0.56
Sep-11	0.76	0.63
Dec-11	0.77	0.64
Mar-12	0.77	0.61
Jun-12	0.79	0.65
Sep-12	0.78	0.64
Dec-12	0.78	0.62
Mar-13	0.78	0.61
Jun-13	0.78	0.65
Sep-13	0.78	0.62
Dec-13	0.78	0.63
Mar-14	0.77	0.62
Jun-14	0.76	0.62
Sep-14	0.77	0.63
Dec-14	0.75	0.63
Mar-15	0.76	0.62
Jun-15	0.76	0.64
Sep-15	0.77	0.67
Dec-15	0.77	0.66
Mar-16	0.78	0.65
Jun-16	0.77	0.63
Sep-16	0.76	0.60
Dec-16	0.75	0.60
Mar-17	0.74	0.58
Jun-17	0.74	0.58
Sep-17	0.73	0.58
Dec-17	0.72	0.54
Mar-18	0.72	0.56
Jun-18	0.71	0.53
Sep-18	0.71	0.53
Dec-18	0.71	0.56
Mar-19	0.71	0.53
Jun-19	0.70	0.51
Sep-19	0.70	0.51
Dec-19	0.69	0.50
Mar-20	0.71	0.61
Jun-20	0.68	0.53
Sep-20	0.67	0.52
Dec-20	0.64	0.47
Mar-21	0.65	0.48
Jun-21	0.65	0.46
Sep-21	0.65	0.46
Dec-21	0.64	0.44
Mar-22	0.61	0.42

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[["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","Dec-21","Mar-22"],[[0.56999999999999995],[0.56999999999999995],[0.57999999999999996],[0.57999999999999996],[0.57999999999999996],[0.56999999999999995],[0.56999999999999995],[0.56000000000000005],[0.56000000000000005],[0.56999999999999995],[0.57999999999999996],[0.60999999999999999],[0.60999999999999999],[0.68999999999999995],[0.70999999999999996],[0.71999999999999997],[0.73999999999999999],[0.75],[0.76000000000000001],[0.80000000000000004],[0.81999999999999995],[0.81999999999999995],[0.85999999999999999],[0.89000000000000001],[0.91000000000000003],[0.92000000000000004],[0.93999999999999995],[0.94999999999999996],[0.91000000000000003],[0.84999999999999998],[0.81999999999999995],[0.81000000000000005],[0.80000000000000004],[0.79000000000000004],[0.78000000000000003],[0.75],[0.75],[0.73999999999999999],[0.76000000000000001],[0.77000000000000002],[0.77000000000000002],[0.79000000000000004],[0.78000000000000003],[0.78000000000000003],[0.78000000000000003],[0.78000000000000003],[0.78000000000000003],[0.78000000000000003],[0.77000000000000002],[0.76000000000000001],[0.77000000000000002],[0.75],[0.76000000000000001],[0.76000000000000001],[0.77000000000000002],[0.77000000000000002],[0.78000000000000003],[0.77000000000000002],[0.76000000000000001],[0.75],[0.73999999999999999],[0.73999999999999999],[0.72999999999999998],[0.71999999999999997],[0.71999999999999997],[0.70999999999999996],[0.70999999999999996],[0.70999999999999996],[0.70999999999999996],[0.69999999999999996],[0.69999999999999996],[0.68999999999999995],[0.70999999999999996],[0.68000000000000005],[0.67000000000000004],[0.64000000000000001],[0.65000000000000002],[0.65000000000000002],[0.65000000000000002],[0.64000000000000001],[0.60999999999999999]],[[0.56999999999999995],[0.59999999999999998],[0.62],[0.58999999999999997],[0.58999999999999997],[0.56999999999999995],[0.54000000000000004],[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],[0.65000000000000002],[0.64000000000000001],[0.62],[0.60999999999999999],[0.65000000000000002],[0.62],[0.63],[0.62],[0.62],[0.63],[0.63],[0.62],[0.64000000000000001],[0.67000000000000004],[0.66000000000000003],[0.65000000000000002],[0.63],[0.59999999999999998],[0.59999999999999998],[0.57999999999999996],[0.57999999999999996],[0.57999999999999996],[0.54000000000000004],[0.56000000000000005],[0.53000000000000003],[0.53000000000000003],[0.56000000000000005],[0.53000000000000003],[0.51000000000000001],[0.51000000000000001],[0.5],[0.60999999999999999],[0.53000000000000003],[0.52000000000000002],[0.46999999999999997],[0.47999999999999998],[0.46000000000000002],[0.46000000000000002],[0.44],[0.41999999999999998]]]

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Financial corporations

Financial assets and liabilities

Financial corporations' financial assets, $b
	Amounts outstanding, Dec-21	Transactions, Mar-22	Other changes, Mar-22	Amounts outstanding, Mar-22
Central bank	678.4	20.1	-25.5	673.1
Authorised deposit taking institutions	4,550.7	28.0	125.7	4,704.3
Other broad money institutions	178.6	8.5	-1.9	185.2
Pension funds	2,941.5	25.0	-76.6	2,889.9
Life insurance corporations	190.3	0.2	-2.9	187.5
Non-life insurance corporations	271.3	3.9	-7.4	267.8
Money market investment funds	36.9	-2.0	-0.1	34.8
Non-money market investment funds	1,187.2	9.7	-29.8	1,167.2
Central borrowing authorities	556.9	-7.2	-23.6	526.1
Securitisers	717.8	81.0	-0.1	798.7
Other financial corporations	110.0	-20.0	23.7	113.6

- nil or rounded to zero

Financial corporations' liabilities, $b
	Amounts outstanding, Dec-21	Transactions, Mar-22	Other changes, Mar-22	Amounts outstanding, Mar-22
Central bank	680.1	19.5	-25.1	674.5
Authorised deposit taking institutions	4,753.5	11.8	149.3	4,914.6
Other broad money institutions	161.3	0.8	-8.7	153.4
Pension funds	3,184.9	22.5	-70.3	3,137.1
Life insurance corporations	187.2	0.6	-2.8	185.0
Non-life insurance corporations	282.7	-5.6	1.3	278.4
Money market investment funds	36.9	-0.7	-1.5	34.8
Non-money market investment funds	1,348.0	-6.8	-44.5	1,296.6
Central borrowing authorities	531.0	-1.1	-23.6	506.2
Securitisers	744.7	81.1	-2.1	823.7
Other financial corporations	215.3	-21.0	19.2	213.6

Authorised deposit-taking institutions (ADIs)

Financial assets

Authorised deposit taking institutions' selected financial assets, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets		60.2	4,429.2	76.7	4,550.7	28.0	4,704.3
Deposits		55.0	468.2	34.3	502.4	17.3	519.0
Bonds		15.0	714.1	20.0	722.9	77.8	780.3
	Securitisers	31.1	346.0	24.9	369.7	78.7	448.0
	National general government	-6.5	104.3	-14.1	88.4	-9.9	73.4
Loans		64.0	2,661.8	87.1	2,746.8	-2.7	2,736.5
Other assets		-73.8	585.0	-64.6	578.6	-64.5	668.5

Liabilities

Authorised deposit taking institutions' selected liabilities, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities		36.8	4,654.4	57.8	4,753.5	11.8	4,914.6
Deposits		83.7	2,796.9	72.9	2,867.8	55.9	2,915.3
	Other private non-fin corps	2.1	700.3	10.3	710.1	9.9	717.7
	Pension funds	-7.8	231.9	-4.3	227.5	1.7	229.0
	Households	71.8	1,347.8	45.6	1,393.3	34.8	1,427.7
Bonds		-13.3	445.0	9.1	445.6	25.3	442.4
Shares and equities		0.3	641.2	-4.9	623.7	-7.0	644.1
Other liabilities		-33.9	771.2	-19.3	816.4	-62.5	912.8

ADIs continued to sell bonds issued by the national general government to the Reserve Bank of Australia (RBA), although at a subdued rate, reflecting the RBA’s Bond Purchase Program (BPP) ending on the 10th of February 2022. This was reflected by the slowest growth of ADI deposits with the central bank since September 2020, with the BPP beginning in December quarter 2020. This resulted in a:

$10.1b acquisition of deposits accepted by the central bank
$9.9b sell off of bonds issued by the national general government

ADIs increased their holdings of securitiser issued bonds in line with Australian Prudential Regulation Authority (APRA) guidelines that stated they must maintain contingent liquidity through securitised assets on an ongoing basis of at least 30% of their net cash outflows. This resulted in a:

$78.7b acquisition of bonds issued by securitisers
$10.3b decrease in loan assets held by ADIs

Change in authorised deposit taking institutions' assets
	Total assets	Deposits	Short-term debt	Bonds	Derivatives	Loans	Equities	Other accounts
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	467.6	78.1	8.5	222.5	251.9	-71.7	-42.4	19.3
Jun-20	-161	-24.6	8	128.8	-115.6	-153.1	1	-3.2
Sep-20	-66.2	-21.3	-16.2	-30.1	-40.3	19.9	1.4	20.2
Dec-20	17.5	48.3	-1.1	-78.4	23.4	27.8	3	-6.6
Mar-21	-35.9	98.7	-12.3	-95.1	-83.6	57.4	-7.5	7.3
Jun-21	22.5	133	-0.8	-133.8	-25.4	25.6	6.5	18.5
Sep-21	123	55.1	-9.9	17	-9.9	69.4	0.7	0.8
Dec-21	121.5	34.2	9.6	8.7	-2.9	85	3	-17
Mar-22	153.6	16.6	5.7	57.4	81.1	-10.3	-4.4	7.9

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

[["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"],[[-2.5],[31.5],[31.399999999999999],[10.300000000000001],[18],[45.399999999999999],[30.199999999999999],[9.6999999999999993],[45.899999999999999],[32.299999999999997],[98.099999999999994],[-14.800000000000001],[13.4],[66],[37.399999999999999],[17.899999999999999],[28.699999999999999],[79.099999999999994],[18.399999999999999],[90],[21.199999999999999],[66.400000000000006],[89],[118],[149],[-1.1000000000000001],[139.19999999999999],[-12.4],[49.299999999999997],[76.400000000000006],[5.2999999999999998],[67.5],[-27.100000000000001],[56.299999999999997],[-19.100000000000001],[20.5],[80.900000000000006],[37.600000000000001],[-2],[52.600000000000001],[29.399999999999999],[78],[105.3],[-38.799999999999997],[467.60000000000002],[-161],[-66.200000000000003],[17.5],[-35.899999999999999],[22.5],[123],[121.5],[153.59999999999999]],[[-17.199999999999999],[7.5999999999999996],[-16.600000000000001],[-3.3999999999999999],[1],[4.5],[-7.2000000000000002],[8.0999999999999996],[5.9000000000000004],[-3.3999999999999999],[7.2000000000000002],[-18.800000000000001],[-5.7999999999999998],[-6.5],[2.1000000000000001],[-5.7000000000000002],[1.1000000000000001],[-4],[-2.2000000000000002],[17.899999999999999],[-0.10000000000000001],[0.80000000000000004],[1.7],[-3.5],[-1.1000000000000001],[-3.2000000000000002],[3.2999999999999998],[3.6000000000000001],[-0.20000000000000001],[-0.29999999999999999],[-0.69999999999999996],[1.1000000000000001],[3.3999999999999999],[0.59999999999999998],[-1.8999999999999999],[-1.8],[11],[-0.59999999999999998],[2.7000000000000002],[-0.5],[0.5],[1.7],[3.1000000000000001],[2.7000000000000002],[78.099999999999994],[-24.600000000000001],[-21.300000000000001],[48.299999999999997],[98.700000000000003],[133],[55.100000000000001],[34.200000000000003],[16.600000000000001]],[[-0.90000000000000002],[7.2999999999999998],[-3.5],[-1.3999999999999999],[-8.3000000000000007],[-8.4000000000000004],[1.8],[-3.3999999999999999],[-3.1000000000000001],[-0.90000000000000002],[0.20000000000000001],[-4.5],[5.4000000000000004],[1],[-0.80000000000000004],[-0.40000000000000002],[-8.3000000000000007],[-9.5999999999999996],[0.40000000000000002],[-7.7000000000000002],[-9.4000000000000004],[5.4000000000000004],[-4.2000000000000002],[3.8999999999999999],[0.5],[-6.5999999999999996],[2.2000000000000002],[-2.7000000000000002],[4.0999999999999996],[-13.9],[-6.7999999999999998],[2.1000000000000001],[-4.9000000000000004],[-4],[-0.40000000000000002],[-6.5],[3.2999999999999998],[0.40000000000000002],[-13.800000000000001],[5.5999999999999996],[-2.2000000000000002],[-5.0999999999999996],[-3.7999999999999998],[3.7000000000000002],[8.5],[8],[-16.199999999999999],[-1.1000000000000001],[-12.300000000000001],[-0.80000000000000004],[-9.9000000000000004],[9.5999999999999996],[5.7000000000000002]],[[30],[23],[3.2999999999999998],[13.5],[5.4000000000000004],[11],[6.4000000000000004],[1.3999999999999999],[1.8],[18.800000000000001],[36.700000000000003],[-5.9000000000000004],[25.699999999999999],[8.5999999999999996],[44.899999999999999],[9.3000000000000007],[10.199999999999999],[32],[21.199999999999999],[-4.4000000000000004],[26.300000000000001],[15.800000000000001],[40.100000000000001],[48],[32.600000000000001],[-4.2999999999999998],[24.199999999999999],[12.5],[5.5],[27.699999999999999],[12.699999999999999],[-7],[11.6],[-38.700000000000003],[-18.300000000000001],[12.9],[2.8999999999999999],[-8.6999999999999993],[3.2999999999999998],[2.8999999999999999],[16.600000000000001],[22.600000000000001],[17.199999999999999],[-19.100000000000001],[222.5],[128.80000000000001],[-30.100000000000001],[-78.400000000000006],[-95.099999999999994],[-133.80000000000001],[17],[8.6999999999999993],[57.399999999999999]],[[-26.399999999999999],[-19.199999999999999],[-3.2000000000000002],[-21.5],[-5.5],[17.800000000000001],[8.4000000000000004],[-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],[-2.8999999999999999],[81.099999999999994]],[[23.199999999999999],[14.4],[25.600000000000001],[30.899999999999999],[30.199999999999999],[35.600000000000001],[12.800000000000001],[16.300000000000001],[53.299999999999997],[30],[31.100000000000001],[22.600000000000001],[-3.2000000000000002],[36],[-25],[26.699999999999999],[26.5],[24.600000000000001],[26.100000000000001],[36.799999999999997],[26.800000000000001],[46.299999999999997],[12.699999999999999],[14.4],[61],[72.599999999999994],[47.700000000000003],[26.300000000000001],[12.800000000000001],[36.700000000000003],[31.199999999999999],[65.799999999999997],[6.4000000000000004],[92],[19.199999999999999],[3.1000000000000001],[51.700000000000003],[29.600000000000001],[22],[23.100000000000001],[-6.0999999999999996],[0.40000000000000002],[25.300000000000001],[22.399999999999999],[-71.700000000000003],[-153.09999999999999],[19.899999999999999],[27.800000000000001],[57.399999999999999],[25.600000000000001],[69.400000000000006],[85],[-10.300000000000001]],[[2.2999999999999998],[11.1],[19.899999999999999],[-5.4000000000000004],[-2.3999999999999999],[-15.699999999999999],[9.5],[-1.3],[-5],[-8.5999999999999996],[-11.800000000000001],[9.1999999999999993],[-0.20000000000000001],[0.5],[10.5],[6.5],[12],[-1.1000000000000001],[10.300000000000001],[8.3000000000000007],[0.59999999999999998],[0.29999999999999999],[-5.5],[6.7000000000000002],[19.800000000000001],[-8.4000000000000004],[-12],[12],[-15],[-1.5],[5.9000000000000004],[7],[4.7999999999999998],[-9.8000000000000007],[2.7000000000000002],[5.4000000000000004],[-10.199999999999999],[4.7000000000000002],[0.20000000000000001],[-10.5],[8.3000000000000007],[2.5],[9.4000000000000004],[5.0999999999999996],[-42.399999999999999],[1],[1.3999999999999999],[3],[-7.5],[6.5],[0.69999999999999996],[3],[-4.4000000000000004]],[[-11.800000000000001],[-10.699999999999999],[5.7000000000000002],[-4.9000000000000004],[-0.5],[1.6000000000000001],[-1.8999999999999999],[0.29999999999999999],[0.5],[0.29999999999999999],[1.3999999999999999],[-2.6000000000000001],[2.7999999999999998],[-0.59999999999999998],[2.2000000000000002],[-2.3999999999999999],[1],[2.1000000000000001],[-2.8999999999999999],[5.0999999999999996],[1.3],[1.3],[0.10000000000000001],[-1.5],[2.2999999999999998],[2.7000000000000002],[1.5],[-1.6000000000000001],[2.1000000000000001],[3],[-0.69999999999999996],[-3.7000000000000002],[2.6000000000000001],[5.2999999999999998],[-2.2999999999999998],[-5.9000000000000004],[4.2999999999999998],[-1.8],[0.40000000000000002],[1.3999999999999999],[4.9000000000000004],[-0.20000000000000001],[-0.80000000000000004],[-1.8999999999999999],[19.300000000000001],[-3.2000000000000002],[20.199999999999999],[-6.5999999999999996],[7.2999999999999998],[18.5],[0.80000000000000004],[-17],[7.9000000000000004]]]

[]

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ADI's share of funding from derivatives increased this quarter, reflecting strong derivative revaluations as a result of global market volatility.

In the March quarter, ADIs' funding composition compared to the previous quarter comprised of:

62.0% from deposits, a decrease from 63.0%
13.7% from equities, remaining steady
9.4% from bonds, a decrease from 9.8%
8.6% from derivatives, an increase from 6.8%
7.6% from short term debt securities, a decrease from 8.1%

ADIs' funding from deposits grew $55.9b with a:

$34.8b increase from households
$9.9b increase from other private non-financial corporations

Authorised deposit taking institutions' sources of funding
	Deposits (%)	Short-term debt securities (%)	Bonds (%)	Equities (%)
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	63.1	7.2	10.0	14.5
Dec-21	63.0	8.1	9.8	13.7
Mar-22	62.0	7.6	9.4	13.7

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

[["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"],[[53.600000000000001],[52.899999999999999],[52.700000000000003],[52.700000000000003],[52.899999999999999],[53.600000000000001],[55],[55.899999999999999],[56.399999999999999],[56.600000000000001],[56.899999999999999],[57.200000000000003],[57],[57.600000000000001],[58.5],[59.299999999999997],[58.700000000000003],[57.600000000000001],[59],[58.600000000000001],[58.700000000000003],[58.5],[58.100000000000001],[57.100000000000001],[55.799999999999997],[56.100000000000001],[55.700000000000003],[56.600000000000001],[56.100000000000001],[56.299999999999997],[57.399999999999999],[58.200000000000003],[58.600000000000001],[58.700000000000003],[59],[59.600000000000001],[58.600000000000001],[58.299999999999997],[59.299999999999997],[58.5],[58.299999999999997],[57.700000000000003],[57.5],[58.100000000000001],[55.700000000000003],[58.399999999999999],[60.899999999999999],[60.399999999999999],[62.100000000000001],[62.799999999999997],[63.100000000000001],[63],[62]],[[11.199999999999999],[12],[11],[10.800000000000001],[10.6],[10.5],[9.1999999999999993],[9.5999999999999996],[9.5999999999999996],[9.3000000000000007],[9.3000000000000007],[9.5],[9.6999999999999993],[9.1999999999999993],[8.3000000000000007],[8.5999999999999996],[8.8000000000000007],[9.5999999999999996],[8.9000000000000004],[8.6999999999999993],[9.0999999999999996],[9.5],[9.0999999999999996],[9.4000000000000004],[9.3000000000000007],[9.5999999999999996],[9.0999999999999996],[9.3000000000000007],[8.6999999999999993],[8.5],[8.1999999999999993],[8.4000000000000004],[8.5],[8.8000000000000007],[9.1999999999999993],[8.8000000000000007],[8.9000000000000004],[8.9000000000000004],[8.0999999999999996],[8.5999999999999996],[8.5],[7.7000000000000002],[7.4000000000000004],[8],[6.7999999999999998],[6.5],[6],[6.4000000000000004],[6.7999999999999998],[6.9000000000000004],[7.2000000000000002],[8.0999999999999996],[7.5999999999999996]],[[18.100000000000001],[17.100000000000001],[16.699999999999999],[18.399999999999999],[18.300000000000001],[18.5],[17.800000000000001],[16.899999999999999],[16.399999999999999],[16],[16.300000000000001],[15.5],[15.6],[15.1],[15.1],[14.4],[13.9],[14],[14.1],[14.199999999999999],[13.9],[13.699999999999999],[13.800000000000001],[13.9],[13.6],[13.9],[14.199999999999999],[14.300000000000001],[14.1],[14.199999999999999],[13.800000000000001],[13.300000000000001],[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],[9.8000000000000007],[9.4000000000000004]],[[11.9],[12.9],[16.899999999999999],[16.699999999999999],[17.300000000000001],[14.699999999999999],[15.5],[15.300000000000001],[15.300000000000001],[14.5],[12.699999999999999],[13.300000000000001],[14],[13.4],[14.4],[15],[16.699999999999999],[16.100000000000001],[17.100000000000001],[17.300000000000001],[17.699999999999999],[17.300000000000001],[16.100000000000001],[16.5],[17.699999999999999],[16.199999999999999],[14.5],[15.9],[14.1],[13.699999999999999],[14.300000000000001],[15.300000000000001],[16.199999999999999],[14.9],[15],[15.1],[14],[14.199999999999999],[14.1],[13],[13.300000000000001],[14],[14.1],[13.199999999999999],[9.0999999999999996],[10.5],[10.199999999999999],[12.1],[13.6],[14.300000000000001],[14.5],[13.699999999999999],[13.699999999999999]]]

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Pension (superannuation) funds

Financial assets

Pension (superannuation) funds' selected financial assets, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets		18.1	2,863.9	19.2	2,941.5	25.0	2,889.9
Deposits		-9.3	243.1	-4.9	238.1	2.7	240.2
Bonds		-3.2	118.1	-3.4	110.1	6.4	107.3
Shares and equity		38.1	2,370.7	30.8	2,461.6	10.8	2,389.5
	Other private non-fin corps	-0.1	396.5	12.0	427.6	12.4	444.4
	Non-money market investment funds	7.1	985.9	-10.8	996.9	-8.2	953.9
	Rest of world	28.2	506.8	23.2	544.1	6.7	500.1
Net equity in life offices		-0.5	17.4	-1.8	16.0	-0.2	15.5
Other assets		-7.0	114.5	-1.5	115.7	5.2	137.3

Liabilities

Pension (superannuation) funds' selected liabilities, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities		20.4	3,097.4	23.2	3,184.9	22.5	3,137.1
Net equity in reserves		23.2	3,043.3	27.7	3,138.0	25.2	3,092.1
	Households	23.0	3,039.1	27.5	3,133.2	25.1	3,087.5
Other liabilities		-2.8	54.0	-4.5	46.9	-2.7	45.0

Total financial assets of pension (superannuation) funds decreased 1.8%(-$51.6b), with a:

$72.1b decrease in shares and other equity
and $2.8b decrease in bonds

Unfavourable conditions in the overseas markets drove valuation losses of $76.6b due to heightened uncertainty arising from increased inflation expectations and the war in Ukraine. Pension funds invested $10.8b in shares and other equity, particularly in other private financial corporations, rest of world and private non-financial investment funds. The investment in overseas shares ($6.7b) was subdued compared to recent quarters and was the lowest since June quarter 2020. Pension funds also acquired $6.4b in bonds while increased bond yields drove valuation losses of $9.2b in these assets.

Pension funds' financial assets
	Total assets (RHS) ($b)	Revaluations (LHS) ($b)	Transactions (LHS) ($b)
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	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	-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	-52.6	35.1
Sep-15	1,719	-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	29.2	24.4
Mar-20	2,248	-272.1	13.7
Jun-20	2,392.5	131.4	13.1
Sep-20	2,421.8	22.0	7.4
Dec-20	2,584.1	145.5	16.7
Mar-21	2,651.5	46.2	21.3
Jun-21	2,809.2	121.1	36.6
Sep-21	2,863.9	36.5	18.1
Dec-21	2,941.5	58.4	19.2
Mar-22	2,889.9	-76.6	25.0

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

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Government

National general government financial assets

National general government selected financial assets, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets		9.8	680.7	3.6	680.8	16.1	669.4
Deposits		3.8	91.3	7.3	98.5	3.5	101.7
	Central bank	1.4	63.0	6.9	69.8	-1.9	68.0
	Authorised deposit taking institutions	1.6	21.6	0.4	21.9	4.1	26.0
One name paper		0.9	45.7	1.1	46.4	-2.4	43.0
Shares and equity		-0.2	207.3	-0.7	201.9	2.1	175.0
Other assets		5.3	336.5	-4.1	333.9	12.9	349.8

National general government liabilities

National general government selected liabilities, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities		39.6	1,414.2	18.2	1,412.0	20.0	1,375.4
One name paper		1.5	28.8	6.1	34.9	-5.9	29.0
Bonds		25.4	898.4	10.2	887.0	21.3	849.7
	Central bank	51.2	261.6	25.9	282.2	17.4	281.8
	Authorised deposit taking institutions	-6.5	104.3	-14.1	88.4	-9.9	73.4
	Rest of world	-15.5	419.0	-7.1	399.2	16.6	386.6
Other liabilities		12.6	487.0	1.9	490.1	4.5	496.6

State and local general government financial assets

State and local general government selected financial assets, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total assets		7.3	594.0	-4.6	594.1	-2.2	596.2
Deposits		6.3	87.9	1.7	89.7	0.1	89.8
Loans and placements		-0.6	60.3	4.0	64.3	-1.9	62.4
Shares and equity		0.0	413.9	-11.1	407.9	0.0	412.8
	State and local PNFCs	0.0	324.3	0.0	328.0	0.0	333.1
	Other private non-fin corps	0.3	49.8	-11.2	39.0	-0.3	38.7
Other assets		1.6	31.9	0.7	32.4	-0.4	31.2

- nil or rounded to zero

State and local general government liabilities

State and local general government selected liabilities, $b
		Transactions, Sep-21	Amounts outstanding, Sep-21	Transactions, Dec-21	Amounts outstanding, Dec-21	Transactions, Mar-22	Amounts outstanding, Mar-22
Total liabilities		24.9	542.4	4.5	544.3	-0.2	521.1
Loans and placements		22.2	320.1	1.3	321.5	-1.5	303.4
	Central borrowing authorities	23.1	296.7	3.0	299.7	-2.4	280.8
Unfunded superannuation claims		0.9	148.4	1.0	147.1	0.9	142.0
Other liabilities		1.8	73.8	2.2	75.8	0.4	75.7

General government

Total bond liability of general government (national, and state and local) decreased $35.9b, driven by

$59.1b negative revaluations, partly offset by
$23.1b transactions

The total value of government bonds outstanding was $857.3b displaying a downward trend in value due to significant rise in bond yields, reflecting rising inflationary expectations. Net issuance of government bonds continued as government provided support during the Omicron outbreak and the floods in northern NSW and south-east Queensland.

General government's bond liability
	Levels (RHS)	Transactions (LHS)	Revaluations (LHS)
Mar-09	75.4	10.6	-1
Jun-09	85.3	13.8	-3.8
Sep-09	98	11.7	0.9
Dec-09	111.8	15.1	-1.3
Mar-10	126.8	14.8	0.2
Jun-10	145.6	16.2	2.6
Sep-10	151.8	8.2	-2
Dec-10	162.9	13.4	-2.3
Mar-11	178.1	13.4	1.9
Jun-11	188	7.5	2.4
Sep-11	214.6	18.1	8.4
Dec-11	235.6	19.5	1.5
Mar-12	247.2	13.4	-1.8
Jun-12	258.6	2.7	8.7
Sep-12	272.7	13.5	0.6
Dec-12	275.2	8.9	-6.4
Mar-13	285.1	11.2	-1.3
Jun-13	285	3	-3.2
Sep-13	305.4	20.9	-0.5
Dec-13	316.4	15.6	-4.6
Mar-14	342.4	25.6	0.4
Jun-14	352.3	2.2	7.7
Sep-14	370.5	17.1	1
Dec-14	392.3	9.1	12.8
Mar-15	418.2	15.6	10.3
Jun-15	408.6	6.8	-16.4
Sep-15	441.7	26.3	6.8
Dec-15	443.8	7.9	-5.8
Mar-16	473.3	22.1	7.4
Jun-16	487.4	5.3	8.7
Sep-16	513.2	24.2	1.7
Dec-16	512.2	23.7	-24.8
Mar-17	534.8	20.7	1.9
Jun-17	552.3	18.1	-0.7
Sep-17	547.8	0.6	-5.1
Dec-17	565.5	15	2.7
Mar-18	573.6	4.6	3.5
Jun-18	580.9	10.7	-3.4
Sep-18	584.5	3	0.6
Dec-18	593.5	2.2	6.9
Mar-19	611	-3.6	21.1
Jun-19	633.3	9.8	12.6
Sep-19	660	13.3	13.4
Dec-19	639.5	-1.1	-19.4
Mar-20	675.2	15	20.7
Jun-20	740.7	73.4	-7.8
Sep-20	862.1	117.4	4
Dec-20	873.7	23.6	-12
Mar-21	861.2	23.7	-36.3
Jun-21	877.8	7	9.6
Sep-21	904.7	25.5	1.4
Dec-21	893.2	10.2	-21.7
Mar-22	857.3	23.1	-59.1

["","Levels (RHS)","Transactions (LHS)","Revaluations (LHS)"]

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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 decreased by $5.8b to $7.3b this quarter. This was driven by a:

$6.0b build up of inventories
$3.9b increase in gross fixed capital formation

Partially offset by a:

$3.4b increase in national net saving

National net lending (+) / borrowing (-), relative to GDP, seasonally adjusted
	Net lending / net borrowing relative to GDP (%)
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	-3.9
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	-6.6
Dec-04	-7.3
Mar-05	-6.6
Jun-05	-5.7
Sep-05	-6.0
Dec-05	-5.8
Mar-06	-5.4
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	-2.9
Mar-09	-1.5
Jun-09	-5.0
Sep-09	-5.3
Dec-09	-6.4
Mar-10	-5.5
Jun-10	-3.0
Sep-10	-3.1
Dec-10	-3.3
Mar-11	-3.4
Jun-11	-3.1
Sep-11	-2.6
Dec-11	-3.0
Mar-12	-4.7
Jun-12	-3.7
Sep-12	-4.4
Dec-12	-4.7
Mar-13	-3.6
Jun-13	-3.6
Sep-13	-3.7
Dec-13	-2.8
Mar-14	-2.7
Jun-14	-3.1
Sep-14	-3.4
Dec-14	-3.1
Mar-15	-3.4
Jun-15	-5.1
Sep-15	-4.9
Dec-15	-5.3
Mar-16	-4.3
Jun-16	-4.3
Sep-16	-3.3
Dec-16	-1.5
Mar-17	-1.9
Jun-17	-2.5
Sep-17	-2.6
Dec-17	-3.4
Mar-18	-2.6
Jun-18	-2.9
Sep-18	-2.0
Dec-18	-1.2
Mar-19	-0.8
Jun-19	0.8
Sep-19	1.5
Dec-19	0.8
Mar-20	1.4
Jun-20	3.6
Sep-20	2.0
Dec-20	3.3
Mar-21	3.8
Jun-21	4.1
Sep-21	3.7
Dec-21	2.4
Mar-22	1.3

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

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[]

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National net lending as a proportion of GDP decreased this quarter driven by a build up of inventories and increased gross fixed capital formation.

Households' net lending decreased by $8.3b to $23.8b
Financial corporations' net lending decreased by $2.8b to $4.8b
General government net borrowing decreased by $7.8b to $20.8b
Non-financial corporations' net borrowing increased by $2.6b, to a net lending position of $1.6b

Notable drivers were:

Households' net lending was driven by a decrease in net saving as household consumption growth outpaced gross disposable income.
Financial corporations' net lending was driven by a decrease in net saving due to an increase in non-life insurance claims payable related to natural disasters during the quarter.
General governments' net borrowing was driven by an increase in net savings due to an increase in income tax receivable, and a decrease in income payable in social assistance benefits in cash to residents and subsidies as COVID-19 support was wound back.
Non-financial corporations net lending was driven by an increase in net savings due to an increase in mining gross operating surplus, reflecting strong growth in commodity prices.

Net lending (+) / borrowing (-), by sector, seasonally adjusted
	Non-financial corporations ($b)	Financial corporations ($b)	General government ($b)	Households ($b)
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	5.8
Dec-09	-7.6	6.3	-19.9	3.7
Mar-10	-9.4	6.4	-21.8	6.0
Jun-10	-7.2	13.1	-16.4	3.5
Sep-10	-10.1	10.4	-15.8	5.8
Dec-10	-11.4	9.2	-15.7	9.9
Mar-11	-17.2	8.5	-17.1	11.1
Jun-11	-19.3	13.2	-16.7	9.6
Sep-11	-15.0	11.6	-16.2	11.8
Dec-11	-17.4	11.0	-19.5	15.4
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	9.5
Mar-13	-22.2	9.8	-14.4	12.0
Jun-13	-26.0	10.0	-4.7	10.5
Sep-13	-21.2	9.2	-12.2	9.6
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	-20.3	6.1	-10.6	10.1
Mar-15	-23.1	7.8	-8.1	8.4
Jun-15	-22.7	5.4	-7.1	10.5
Sep-15	-25.0	7.9	-7.0	6.6
Dec-15	-24.7	9.0	-6.9	2.9
Mar-16	-22.3	8.3	-11.3	3.0
Jun-16	-20.5	8.9	-11.9	3.9
Sep-16	-17.3	9.2	-10.8	3.1
Dec-16	-10.1	7.3	-5.7	1.1
Mar-17	-10.3	5.6	-3.1	1.6
Jun-17	-11.3	7.8	-8.3	0.6
Sep-17	-14.4	8.6	-5.4	0.5
Dec-17	-15.1	5.4	-6.6	2.9
Mar-18	-16.2	8.4	-6.5	1.6
Jun-18	-22.2	7.2	-4.9	0.2
Sep-18	-14.3	7.6	-5.2	1.8
Dec-18	-12.5	6.8	-7.7	5.1
Mar-19	-11.1	7.6	-8.9	9.3
Jun-19	-6.5	7.3	-6.2	8.6
Sep-19	-4.7	7.0	-11.9	16.8
Dec-19	-6.1	4.6	-12.3	14.5
Mar-20	-3.2	2.5	-15.5	23.8
Jun-20	30.8	14.1	-102.2	72.7
Sep-20	31.5	7.1	-90.9	62.4
Dec-20	22.7	5.2	-51.4	37.3
Mar-21	12.8	1.5	-33.3	35.6
Jun-21	8.0	6.6	-21.4	27.4
Sep-21	7.1	7.2	-43.5	54.6
Dec-21	-1.0	7.5	-28.5	32.1
Mar-22	1.6	4.8	-20.8	23.8

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Capital Investment

National capital investment decreased to 22.7% as a proportion of GDP:

Relative to GDP:

Non-financial corporations' investment decreased to 9.9%
Household investment was flat 8.3%
Financial corporations' investment was flat at 0.5%
General government investment was flat at 4.0%

While national capital investment fell as a proportion of GDP, it increased 3.1% in current price seasonally adjusted terms.

In current price seasonally adjusted terms:

Non-financial corporations' investment increased, driven by increased investment in new machinery and equipment.
General government investment increased, driven by an increase in both national and state and local general government.

Gross fixed capital formation, by sector, seasonally adjusted
	Non-financial corporations	Financial corporations	General government	Households
Mar-09	45.7	2.1	10.8	27.1
Jun-09	46.2	2.1	10.3	27
Sep-09	44	2.1	11.6	26.9
Dec-09	46	2.2	13.2	27.8
Mar-10	44.4	2.2	15.1	27.3
Jun-10	44.7	2.1	14.4	27.9
Sep-10	45.5	2.1	14	28.8
Dec-10	46.7	2.1	14	28.3
Mar-11	49.1	2.2	13.6	29
Jun-11	50.3	2.2	12.2	29
Sep-11	56.4	2.2	12.8	28.3
Dec-11	55.6	2.2	15.3	27.5
Mar-12	61	2.3	12.3	27.4
Jun-12	64	2.3	13.7	27.3
Sep-12	63.8	2.5	13.1	28
Dec-12	65.9	2.5	12.7	28.3
Mar-13	62.1	2.5	13.2	28
Jun-13	62.5	2.5	11.6	29
Sep-13	63.4	2.4	12.3	29.6
Dec-13	63	2.3	12.7	30.2
Mar-14	60.7	2.4	13.1	31.1
Jun-14	59.6	2.4	13	31.6
Sep-14	56.8	2.7	13	33.4
Dec-14	56.2	2.8	12.5	35.2
Mar-15	55	2.7	12.3	36.3
Jun-15	54.5	2.6	13.1	36.1
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
Dec-16	47.3	2.8	14.4	40.9
Mar-17	46.6	2.8	15.6	41.1
Jun-17	45.6	2.8	18.4	41.3
Sep-17	51	2.5	16.7	40.6
Dec-17	50	3	17.3	40.8
Mar-18	50.7	3	17.3	42
Jun-18	50.7	3	18.1	42.6
Sep-18	51.9	3	18.5	41.4
Dec-18	51.3	3	18.7	40.3
Mar-19	51.8	2.9	19	39.2
Jun-19	52.2	3	19.5	38
Sep-19	53.5	2.9	19.6	38
Dec-19	52.8	2.9	20.4	37.9
Mar-20	52.5	2.7	19.7	38.1
Jun-20	50.9	2.6	19.7	35
Sep-20	49.9	2.7	19.3	36.3
Dec-20	50.7	2.7	20.4	38.9
Mar-21	52.4	2.8	20.6	42.3
Jun-21	54.9	2.9	22.6	44.4
Sep-21	55.2	3	22.3	45.6
Dec-21	56.2	3	22.2	46.8
Mar-22	57.4	3	23.2	48.2

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Data downloads

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Time series spreadsheets

Data files

TABLE 1. Credit Market Outstandings ($ million)
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TABLE 2. Demand for Credit ($ million)
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TABLE 3. National Capital Account, Current prices ($ million)
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TABLE 4. National Financial Assets and Liabilities ($ million)
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TABLE 5. Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [78.35 KB]
TABLE 6. Financial Assets and Liabilities of Non-Financial Corporations ($ million)
Download xlsx [380.35 KB]
TABLE 7. Private Non-Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [74.92 KB]
TABLE 8. Financial Assets and Liabilities of Private Non-Financial Corporations ($ million)
Download xlsx [375.55 KB]
TABLE 9. Financial Assets and Liabilities of Private Non-Financial Investment Funds ($ million)
Download xlsx [230.48 KB]
TABLE 10. Financial Assets and Liabilities of Other Private Non-Financial Corporations ($ million)
Download xlsx [381.3 KB]
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)
Download xlsx [264.81 KB]
TABLE 13. Financial Corporations Capital Account, Current prices ($ million)
Download xlsx [74.32 KB]
TABLE 14. Financial Assets and Liabilities of Financial Corporations ($ million)
Download xlsx [354.43 KB]
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)
Download xlsx [489.98 KB]
TABLE 17. Financial Assets and Liabilities of Other Broad Money Institutions ($ million)
Download xlsx [314.86 KB]
TABLE 18. Financial Assets and Liabilities of Pension Funds ($ million)
Download xlsx [224.92 KB]
TABLE 19. Pension Funds - Self-Managed Superannuation Funds Balance Sheet ($ million)
Download xlsx [69.71 KB]
TABLE 20. Financial Assets and Liabilities of Life Insurance Corporations ($ million)
Download xlsx [293.3 KB]
TABLE 21. Financial Assets and Liabilities of Non-Life Insurance Corporations ($ million)
Download xlsx [279.17 KB]
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)
Download xlsx [316.38 KB]
TABLE 27. General Government Capital Account, Current prices ($ million)
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TABLE 28. Financial Assets and Liabilities of General Government ($ million)
Download xlsx [301.34 KB]
TABLE 29. National General Government Capital Account, Current prices ($ million)
Download xlsx [77.14 KB]
TABLE 30. Financial Assets and Liabilities of National General Government ($ million)
Download xlsx [275.44 KB]
TABLE 31. State and Local General Government Capital Account, Current prices ($ million)
Download xlsx [77.07 KB]
TABLE 32. Financial Assets and Liabilities of State and Local General Government ($ million)
Download xlsx [192.4 KB]
TABLE 33. Household Capital Account, Current prices ($ million)
Download xlsx [77.38 KB]
TABLE 34. Financial Assets and Liabilities of Households ($ million)
Download xlsx [254.46 KB]
TABLE 35. Household Balance Sheet, Current prices ($ billion)
Download xlsx [79.87 KB]
TABLE 36. Analytical Measures of Household Income, Consumption, Saving and Wealth, Current prices ($ billion)
Download xlsx [66.45 KB]
TABLE 37. Rest of World Capital Account, Current prices ($ million)
Download xlsx [67.05 KB]
TABLE 38. Financial Assets and Liabilities of Rest of World ($ million)
Download xlsx [453.89 KB]
TABLE 39. The Currency Market ($ million)
Download xlsx [80.42 KB]
TABLE 40. The Transferable Deposits Market ($ million)
Download xlsx [115.38 KB]
TABLE 41. The Other Deposits Market ($ million)
Download xlsx [127.24 KB]
TABLE 42. The Bills of Exchange Market ($ million)
Download xlsx [107.34 KB]
TABLE 43. The One Name Paper Market ($ million)
Download xlsx [354.1 KB]
TABLE 44. The Bonds Market ($ million)
Download xlsx [460.1 KB]
TABLE 45. The Derivatives and Employee Stock Options Market ($ million)
Download xlsx [189.8 KB]
TABLE 46. The Short Term Loans and Placements Market ($ million)
Download xlsx [154.27 KB]
TABLE 47. The Long Term Loans and Placements Market ($ million)
Download xlsx [353.87 KB]
TABLE 48. The Listed Shares and Other Equity Market ($ million)
Download xlsx [255.52 KB]
TABLE 49. The Unlisted Shares and Other Equity Market ($ million)
Download xlsx [318.71 KB]
TABLE 50. Accounts Payable/Receivable ($ million)
Download xlsx [393.68 KB]
TABLE 51. Financial Accounts Summary of Authorised Deposit taking Institution Deposits and Lending Split by Household Subsectors ($ million)
Download xlsx [54.16 KB]
TABLE 52. Financial Accounts Summary of Loan Outstandings to Households for Housing by Type of Lending Institution ($ million)
Download xlsx [56.68 KB]
TABLE 53. Nominal Value of Short Term Loans and Placements Market ($ million)
Download xlsx [152.61 KB]
TABLE 54. Nominal Value of Long Term Loans and Placements Market ($ million)
Download xlsx [354.42 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 March quarter 2020, 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.
Revisions to the sectoral capital accounts are due to more up-to-date data being incorporated and concurrent seasonal adjustment.

Methodology