Supporting information:
Historical data (Excel spreadsheet)Non-bank lending institutions (NBLI) SSR survey
Since December 2004, the Bank has conducted a quarterly survey of non-bank financial institutions (NBLIs ) - financial institutions with total assets of $100m or more at the consolidated group level, whose principal business is credit provision and borrowing money from the public and/or other sources. Released one month after the reporting period, the survey summary tables include a stylised breakdown of total assets and liabilities, as well as a breakdown of funding (borrowing) and claims (lending) by "time to rate reset" and by sector.
While still releasing a total for the aggregate NBLI survey group (more than 50 respondents), from September 2007 it has been possible to provide the same breakdown of statistics for three key groups:
- Savings institutions
NBLIs with a prospectus on issue, enabling them to take deposits from the public. They include registered building societies, credit unions and PSIS Limited.
- Deposit-taking finance companies
NBLIs (excluding savings institutions) with a prospectus on issue, enabling them to fund from the public
- Non-deposit-taking finance companies
NBLIs that do not issue a prospectus, funding from markets often termed 'wholesale'.
Definition of terms
The NBLI SSR distinguishes between household securitised assets, (shown in the 'Sectoral analysis' tab), and all other balance sheet assets recorded in the 'Liabilities and assets' tab, Part A. Under international financial reporting standards (IFRS), securitised assets form part of NBLI balance sheets. However, securitised household loans are not included in Part A assets in the NBLI SSR, nor is the counterpart funding included in Part A liabilities. To compile NBLI total balance sheet assets and liabilities from the NBLI SSR, counterpart funding (see 'Sectoral analysis' tab, Part D1) must be added to total liabilities (A6) and total assets (A15) in Part A (see below for more detail). Note that securitised business loans and their corresponding liabilities on the other hand are included in Part A.
Securitised household lending (consumer and residential mortgage receivables)
Includes both lending that is backed by securities and loans funded by 'warehouse' operations, awaiting securitisation. The total of securitised household lending for the aggregate NBLI SSR is shown in the sectoral analysis tab, split between housing and consumer loan categories. For the three subgroups of the NBLI SSR, it is shown as 'counterpart funding' in Part D1, and is included in D2.25 housing and D2.26 consumer lending ('Sectoral analysis' tab). Counterpart funding for household securitised lending is not included in total liabilities (A6), nor are the corresponding receivables included in total assets (A15). However, business receivables either warehoused or securitised are included in Parts D1 and D2. Assets (A15) and liabilities (A6) include warehoused and securitised business funding and claims.
Warehouse operations
Warehouse operations in this context means residential mortgage and/or consumer loans not funded by an NBLI's depositors, but by another funder (usually a bank). An NBLI originates these loans with the intention eventually to securitise them as asset-backed securities (ABS). While accumulating a sufficiently large pool of loans for an ABS issue, an NBLI will arrange for a wholesale funder to finance these loans.
Time to rate reset
In the Funding and Claims tabs, information on the time to run before interest rate repricing (reset) on deposits and debentures (funding), and loans and securities (claims) is shown by 'time to rate reset'. Time to rate reset refers to the period left to run before the funding or claims instrument may be repriced under the customer contract. Variable rate mortgages, for example, can have their interest rate changed by the lender at short notice, and are thus claims with less than 90 days but more than 2 to run. Fixed rate mortgages will appear with different terms to run to rate reset in C2 in the Claims tab. Funding instruments, especially those used for wholesale funding, may be repriced every 90 days, for example, but have a term to maturity that is longer.
NBLI SSR survey technical notes
- The Bank surveys NBLIs with total assets of $100m or more at the consolidated group level. A consolidated group may include more than one subsidiary with a prospectus on issue.
- Total assets for the purposes of inclusion in the NBLI survey include securitised loans administered and/or originated by the reporting entity. However, the securitised assets are not presented as part of 'balance sheet' totals in A6 and A15, but are shown separately in the NBLI SSR tab 'sectoral analysis' - see note above regarding securitisation.
- The NBLI SSR does not include group investment funds, unit trusts and various fund managers, friendly societies and life insurance-related intermediaries. This class of NBLI is included in the Bank’s quarterly and annual managed funds survey. In time-series NBLI loan data in table C6 prior to December 2004, limited loan values are included from these institutional groups.
- Respondent coverage. For statistical and confidentiality reasons, institutions included in the NBLI survey are not identified by the Bank. The asset size and 'consolidated group' criteria for collection should allow robust market share assessment.
Series breaks
Series breaks occur when NBLI 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 NBLI now larger than $100m in total assets; the sale of assets; merger with another institution or a change in substance in business practice that interrupts a 'like for like' time series comparison (eg simultaneous repayment of loans to one funder, to be replaced by another in a change in business practice).
Series breaks for key balance sheet components for the three institutional groups are displayed in the panels below, together with a panel for breaks for the aggregate group.
|
All non-bank lending institutions (NBLIs) |
|||||||
|
Series breaks |
Loans |
Less: Counter-part funding |
Total Assets (A15) |
Memo: House-hold Deposits |
|||
|
Break date |
Table C5 |
Table C6 |
|||||
|
Agriculture |
Business |
Housing |
Consumer |
||||
|
Dec.09 |
-- |
-- |
-144 |
-- |
-144 |
-- |
-- |
|
Sept. 09 |
-- |
-11 |
-- |
-9 |
-- |
-20 |
-- |
|
June 09 |
-- |
+718 |
-- |
-- |
-- |
-- |
-- |
|
Dec. 08 |
-400 |
-328 |
-1,631 |
-104 |
-301 |
-2,323 |
-1,859 |
|
Sept. 08 |
-- |
-- |
+9 |
-12 |
-- |
+66 |
-8 |
|
June 08 |
-- |
+8 |
+41 |
+59 |
-- |
+134 |
+88 |
|
Mar. 08 |
-- |
-20 |
-- |
-20 |
-- |
-70 |
-50 |
|
Dec. 07 |
+5 |
+96 |
+87 |
+103 |
-- |
+305 |
+169 |
|
Sept. 07 |
-- |
-12 |
+106 |
-- |
-- |
-8 |
-- |
|
June 07 |
-- |
+107 |
-- |
+6 |
-- |
+110 |
-- |
|
Mar. 07 |
-- |
+98 |
-- |
-- |
-- |
+102 |
-- |
|
Dec. 06 |
+2 |
+38 |
+82 |
+176 |
+0 |
+332 |
+152 |
|
Sept. 06 |
-- |
-- |
-- |
-- |
-- |
-555 |
-- |
|
June 06 |
+7 |
+41 |
+39 |
-- |
-- |
+93 |
+68 |
|
Mar.06 |
-- |
+150 |
+195 |
+24 |
-120 |
+469 |
-255 |
|
Dec. 05 |
+156 |
+64 |
-- |
+232 |
- |
+353 |
+355 |
|
Deposit-taking finance companies |
|||||||
|
Series breaks |
Loans |
Less: Counter-part funding |
Total Assets (A15) |
Memo: House-hold Deposits |
|||
|
Break date |
Table C5 |
Table C6 |
|||||
|
Agriculture |
Business |
Housing |
Consumer |
||||
|
Dec.09 |
-- |
-- |
-144 |
-- |
-144 |
-- |
-- |
|
Sept. 09 |
-- |
-11 |
-- |
-9 |
-- |
-20 |
-- |
|
Dec. 08 |
-- |
-8 |
-- |
-16 |
-- |
-38 |
-- |
|
Sept. 08 |
-- |
-- |
-- |
-104 |
-- |
-62 |
-28 |
|
June 08 |
-- |
+8 |
-- |
+6 |
-- |
+19 |
-9 |
|
Mar. 08 |
-- |
-20 |
-- |
-20 |
-- |
-70 |
-50 |
|
Dec. 07 |
-- |
-- |
+19 |
-- |
-- |
+0 |
-- |
|
June 07 |
-- |
+107 |
-- |
+6 |
-- |
+110 |
-- |
|
June 06 |
+7 |
+41 |
-- |
-- |
-- |
+48 |
+31 |
|
Mar.06 |
-- |
+89 |
+195 |
-528 |
-120 |
-165 |
-255 |
|
Dec. 05 |
+49 |
+58 |
-- |
+232 |
- |
+234 |
+355 |
|
Non-deposit-taking finance companies |
|||||||
|
Series breaks |
Loans |
Less: Counter-part funding |
Total Assets (A15) |
Memo: House-hold Deposits |
|||
|
Break date |
Table C5 |
Table C6 |
|||||
|
Agriculture |
Business |
Housing |
Consumer |
||||
|
June 09 |
-- |
+718 |
-- |
-- |
-- |
+0 |
-- |
|
Dec. 08 |
-- |
-57 |
-- |
-- |
-- |
-61 |
-- |
|
Sept. 08 |
-- |
-- |
-- |
+104 |
-- |
+104 |
-- |
|
Dec. 07 |
+5 |
+96 |
-- |
-- |
-- |
+100 |
-- |
|
Sept. 07 |
-- |
-12 |
+106 |
-- |
-- |
-8 |
-- |
|
Mar. 07 |
-- |
+98 |
-- |
-- |
-- |
+102 |
-- |
|
Dec. 06 |
-- |
-- |
-- |
+94 |
-- |
+103 |
-- |
|
Sept. 06 |
-- |
-- |
-- |
-- |
-- |
-555 |
-- |
|
Mar.06 |
-- |
+61 |
-- |
+552 |
-- |
+634 |
-- |
|
Savings institutions |
|||||||
|
Series breaks |
Loans |
Less: Counter-part funding |
Total Assets (A15) |
Memo: House-hold Deposits |
|||
|
Break date |
Table C5 |
Table C6 |
|||||
|
Agriculture |
Business |
Housing |
Consumer |
||||
|
Dec. 08 |
-400 |
-264 |
-1,631 |
-88 |
-301 |
-2,225 |
-1,859 |
|
Sept. 08 |
-- |
-- |
+9 |
+12 |
-- |
+24 |
+20 |
|
June 08 |
-- |
-- |
+41 |
+54 |
-- |
+116 |
+97 |
|
Dec. 07 |
-- |
-- |
+68 |
+103 |
-- |
+205 |
+169 |
|
Dec. 06 |
+2 |
+38 |
+82 |
+82 |
-- |
+228 |
+152 |
