C6 Household credit

28 February 2017 03:00 p.m.
Reserve Bank of New Zealand
Data files
Total Household Claims: percentage changes
Date Housing ($m) (Y/Y%)1 Consumer ($m) (Y/Y%)1 Total (Y/Y%)1 Total s.a. ($m) (%M/Msa)2
Previous years:
Jan 2015 197,605 4.7 14,892 6.3 212,497 4.8 212,491 0.5
Jan 2016 212,955 7.8 15,390 3.3 228,345 7.5 228,341 0.6
Feb 2016 214,196 7.9 15,516 3.8 229,712 7.6 229,817 0.6
Mar 2016 215,688 8.0 15,390 3.1 231,077 7.7 231,114 0.6
Apr 2016 217,477 8.3 15,431 3.0 232,908 7.9 232,990 0.8
May 2016 219,563 8.5 15,401 2.2 234,963 8.1 234,718 0.7
Jun 2016 221,420 8.8 15,371 1.7 236,791 8.3 236,575 0.8
Jul 2016 223,052 9.0 15,381 2.3 238,432 8.6 238,544 0.8
Aug 2016 224,981 9.2 15,390 1.9 240,370 8.7 240,406 0.8
Sep 2016 226,559 9.2 15,550 2.9 242,110 8.8 242,261 0.8
Oct 2016 227,945 9.1 15,679 3.3 243,624 8.7 243,656 0.6
Nov 2016 229,290 9.0 15,873 3.4 245,163 8.6 245,131 0.6
Dec 2016 230,779 9.1 16,098 4.1 246,877 8.7 246,809 0.7
Jan 2017 232,068 9.0 16,096 4.6 248,163 8.7 248,161 0.5
  1. Nominal percentage rate calculations have been break-adjusted, reflecting the underlying market change.
  2. Seasonally-adjusted percentage rate calculations have been break-adjusted, reflecting the underlying market change.

The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

Table C6 shows lending to household sector by registered banks and non-bank lending institutions (NBLIs).

All registered bank lending to households (including that from finance company subsidiaries) is included as well as that from NBLIs with total assets over $5m. Securitised loans administered by reporting institutions are also included in this table.

Not included are:

  • solicitors' nominee residential mortgages
  • housing loans directly held by various group investment, pension and other like funds and made by Housing New Zealand Corporation
  • student loans.

Housing and consumer loan categories in the series were a source of relatively frequent reclassification until 1998 and for this reason no monthly distinction can be made in the household claims series before June 1998. While clearly credit card debt and hire purchase loans, for example, are consumer credit, there are other term and overdraft/revolving credit loans that may be allocated in either category depending on an institution's definition of a loan 'for housing'.

Prior to December 2004 the NBLI housing and consumer data series include minor loan amounts from managed fund/life insurance sources.

Quarterly average statistics for housing and consumer loans are available in table C6 from 1990.

Data is sourced from the Registered Bank Standard Statistical Return (SSR) and Non-Bank SSR.

Balance sheet figures reported by banks and NBLIs conform to generally accepted accounting practice in New Zealand. In particular, values may be at book or ‘marked to market’ according to appropriate practice for the instruments involved.

The resident/non-resident distinction in these tables is based on the geographical location of respondents and counterpart transactions. To facilitate statistical reporting however, the New Zealand income tax rules on residency are accepted as an approximation.


Monthly, as at the last business day.


On or before the last business day of the month after the end of the reference month.

Access by the public

Statistics release calendar

The Statistics Release Calendar is updated and released on the last business day of the month. This is a long-term plan of scheduled releases.


Dissemination of terms and conditions under which official statistics are produced, including confidentiality of individual responses

Data are collected under Section 36 of The Reserve Bank of New Zealand Act 1989 (The Act).

The Reserve Bank of New Zealand publishes only aggregated data. Individual institutional data is confidential.

Provision of information about revisions and advance notice of major changes in methodology

Provisional data are italicised. Data are deemed provisional when a series is under review. New data, or revised data, are in bold font. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a note is posted on the website as a ‘special note’.

Any major changes in methodology are posted on the website as a special note.


Dissemination of documentation on methodology and sources used in preparing statistics

Changes to the way monetary and credit aggregates have been compiled since 30 June 1998 are explained in Financial Statistics, June 1998 Vol 1, No 2.

Dissemination of statistics that support statistical cross-check and provide assurance of reasonableness

Disclosure statements published by registered banks offer checks for reasonableness. Links to registered bank websites can be found in the Banks section of this site.

The Reserve Bank requests reporting institutions to classify loans secured by way of residential security according to the purpose of the loan where it is able to do so. The values of residential mortgage loans recorded by Disclosure Statements (based on security) may exceed those in statistical returns requesting housing purpose, as such loans may be for business or consumer purposes. Most respondents cannot readily distinguish loan purpose from residential security values however and housing loan values by and large reflect loan values secured by residential mortgage.

Series breaks

Series breaks occur when registered bank data are affected by survey changes that are not 'organic' but arise from one period to another because of factors such as the introduction of a new bank to the survey; a bank relinquishing its registration; the sale of assets; merger with another institution or a change in substance in business practice that interrupts a 'like for like' time series.

Series breaks for key balance sheet components for all registered banks are displayed in the table below.

Registered Banks

Series Breaks ($m)


All other assets

Less: Counter-part funding

Total Assets (A15)

House-hold Deposits

Table C5

Table C6

Break Date






Sept. 15

Oct. 15



Dec. 12

Jan. 13








Oct. 11

Nov. 11







Jan. 10


Jan. 09

Feb. 09



Oct. 08

Nov. 08









Aug. 06

Sep. 06



Feb. 06

Mar. 06




Series breaks for key balance sheet components for all non-bank lending institutions are displayed in the table below.

All non-bank lending institutions (NBLIs)

Series breaks


Less: Counter-part funding

Total Assets (A15)

Memo: House-hold Deposits

Break date

Table C5

Table C6





May. 16



Sep. 15



Dec. 12







Dec. 11











Dec. 09





Jun. 09



Dec. 08








Sep. 06


Series breaks last updated: 30 June 2016

Unless otherwise specified, data are in New Zealand dollars.


Lending to households by registered banks and NBLIs for the purpose of housing. Includes all residential mortgage loans to personal customers (housing) unless they are explicitly recorded as consumer loans. ‘Lifestyle property' loans on ‘farmlets' are classified by banks as housing or farming using the same principles applied to determine the BIS‘risk weight' for capital adequacy purposes. Includes securitised mortgages.


Lending to households for non-housing purposes by registered banks and NBLIs. This includes loans, whether or not secured by mortgage, which have been separately identified as being for personal customers, but are not housing– e.g. boat or car purchase, travel etc and all credit card lending. Includes securitised consumer loans.

Total household claims

Lending to households for housing and consumer purposes by registered banks and NBLIs, as well as securitised lending.

The Reserve Bank has been working with registered banks since mid-2015 to develop a new registered bank balance sheet collection that will replace the existing Standard Statistical Return (SSR).

In March 2017 the SSR will be retired and the publication of the following tables will be discontinued:


Interest rates on funding and claims


Monetary aggregates


Credit aggregates


Monetary and credit aggregate components


Balance sheet of M3 institutions


Sector credit


Household credit


Household deposits


Banks: Balance Sheet ($m)


Banks: Funding by sector ($m)


Banks: Claims by sector ($m)


Banks: Mortgage lending ($m)

In the first week of April 2017 we will publish data from the new balance sheet collection for the first time. Our first publication is aimed at replacing key data currently published from the SSR. Later in 2017 we plan to publish other more detailed data collected from the new balance sheet collection.

More in depth information on the new balance sheet data can be viewed on our statistics news and updates page www.rbnz.govt.nz/statistics

If you have any questions, please contact us at stats-info@rbnz.govt.nz.

28 February 2017

Symbols and conventions

0 Value rounded to zero
- Zero or not applicable
.. Not available
bold Revised/new
italics Provisional

General notes

  • Individual figures may not sum to the totals due to rounding
  • Percentage changes are calculated on unrounded numbers
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