Money and credit aggregates (depository corporations) - C50

Previous years: Monthly:
Oct 2016 Oct 2017 Jun 2018 Jul 2018 Aug 2018 Sep 2018 Oct 2018
Broad money ($m)
Broad money (A+B) 267,649 286,487 297,798 301,499 301,799 302,781 305,435
A. Narrow money (M1) .. 63,395 66,670 67,413 67,697 67,345 68,409
A1. Currency held by the public .. 5,315 5,654 5,618 5,657 5,842 5,818
A2. Transaction deposits .. 58,079 61,017 61,795 62,040 61,502 62,591
B. Other components of broad money .. 223,092 231,127 234,087 234,102 235,436 237,026
B1. Savings deposits .. 79,070 78,557 79,511 78,371 78,004 78,984
B2. Term deposits .. 144,022 152,570 154,576 155,731 157,433 158,042
Domestic credit ($m)
Domestic credit (C+D) 411,553 432,792 441,866 443,898 447,636 450,104 452,861
C. Net credit to central government .. 4,513 -13 4,269 2,397 3,629 3,734
C1. Credit to central government .. 21,373 20,237 20,492 20,607 20,655 21,906
C2. Less: Liabilities to central government .. 16,860 20,250 16,222 18,210 17,027 18,172
D. Private sector credit 407,104 428,279 441,879 439,629 445,240 446,475 449,127
D1. Loans .. 415,389 428,409 428,041 430,929 433,258 435,913
D2. Debt securities .. 5,538 5,552 5,791 6,408 6,453 6,481
D9. Other .. 7,352 7,918 5,798 7,903 6,764 6,733
Net credit to non-residents ($m)
Net credit to non-residents (E1-E2) .. -80,458 -76,519 -73,185 -74,889 -79,567 -80,338
E1. Credit to non-residents .. 76,989 76,317 73,454 76,551 69,844 68,288
E2. Less: Liabilities to non-residents .. 157,447 152,836 146,639 151,440 149,411 148,626
Equity ($m)
Equity .. -41,437 -44,621 -44,869 -44,994 -44,087 -43,641
Net other assets ($m)
Net other assets (F1-F2) .. -24,411 -22,928 -24,345 -25,955 -23,669 -22,613
F1. Other assets .. 9,020 9,516 9,672 9,731 9,563 9,493
F2. Less: Other liabilities .. 33,431 32,444 34,017 35,686 33,232 32,106

The data: coverage, periodicity, and timeliness

Coverage characteristics

Components of broad money and the counterparts of broad money for Depository corporations.

Depository corporations comprise:

  • Reserve Bank of New Zealand
  • Registered banks

Data is sourced from the Reserve Bank Balance Sheet and the Reserve Bank’s Bank Balance Sheet Survey.

Most data starts in 31/12/2016 when the Bank Balance Sheet Survey replaced the Standard Statistical Return (SSR). However, some data has been backdated to provide long-run consistent data. The back series has been estimated using data from the SSR.

Periodicity and timeliness

Data is published monthly, approximately 5 weeks after the end of the reference month.

Access by the public

Data release

Data is released on the Reserve Bank’s Statistics section.

Statistics release calendar

The Statistics Release Calendar provides a long-term plan of scheduled releases. It is updated and released on the first working day of the month.

View the Statistics Release Calendar

Integrity

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

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

Read the Reserve Bank of New Zealand Act 1989.

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. This applies to the summary table only and not excel files. Revisions are generally published when the table is next due to be updated and released. Should revisions need to be made more promptly, a special note is posted on the website. Any major changes in methodology will be posted as a special note.

Quality

Dissemination of documentation on methodology and sources used in preparing statistics

The money and credit aggregates are compiled in line with the Monetary and Financial Statistics Manual and Compilation Guide (IMF 2016).

Depository corporations

Reserve Bank of New Zealand

The Reserve Bank of New Zealand is New Zealand’s central bank.

Registered banks

Consolidated banking group of banks operating in New Zealand and registered by the Reserve Bank of New Zealand.

Components of broad money

Broad money

Broad money is the sum of all liquid financial instruments held by money-holding sectors that are widely accepted in an economy as a medium of exchange, plus those that can be converted into a medium of exchange at short notice at, or close to, their full nominal value.

Narrow money (M1)

M1 is the narrowest money aggregate and comprises:

  • Currency held by the public
  • Transaction deposits

Currency held by the public

Currency issued by the Reserve Bank of New Zealand less any currency held by registered banks. Also known as notes and coins in the hands of the public.

Transaction deposits

Deposit balances where the purpose of the account is primarily for making transactions or "every day" banking by customers. Balances are on call.

Other components of broad money

Other components of broad money comprises:

  • Savings deposits
  • Term deposits
  • Other

Savings deposits

Deposit balances where the purpose of the account is primarily for saving. For some balances disincentives may apply if used for transaction purposes i.e. a “penalty” may apply such as loss of bonus interest. Balances are on call.

Term deposits

Customer time or term deposits with a maturity of greater than 1 day.

Other

Other components of broad money include:

  • Short-term debt securities
  • Money-market funds

Counterparts of broad money

Domestic credit

Domestic credit comprises:

  • Net credit to central government
  • Credit to other sectors (private sector credit)

Net credit to central government

Net credit to central government is calculated as Credit to central government less Liabilities to central government.

Credit to central government

Claims on central government by the Reserve Bank of New Zealand and registered banks including:

  • Debt securities
  • Loans and repos
  • Other claims

Liabilities to central government

Liabilities to central government from the Reserve Bank of New Zealand and registered banks including:

  • Deposits
  • Other liabilities

Private sector credit

Private sector credit (also known as claims on other sectors) comprises:

  • Debt securities
  • Loans and repos
  • Other claims

Loans

Loans and repos by the Reserve Bank of New Zealand and registered banks to the private sector:

  • Other financial corporations
  • Non-financial corporations
  • Local government
  • Households and NPISHs

Debt securities

Debt securities issued by the Reserve Bank of New Zealand and registered banks to the private sector:

  • Other financial corporations
  • Non-financial corporations
  • Local government
  • Households and NPISHs

Other private sector claims

Other claims (deposits, derivatives, equity, trade credit) by the Reserve Bank of New Zealand and registered banks on the private sector:

  • Other financial corporations
  • Non-financial corporations
  • Local government
  • Households and NPISHs

Net credit to non-resident

Net credit to non-resident is calculated as Credit to non-residents less Liabilities to non-residents.

Credit to non-resident

Claims on non-residents by the Reserve Bank of New Zealand and registered banks including:

  • Debt securities
  • Loans and repos
  • Other claims

Liabilities to non-residents

Liabilities to non-residents from the Reserve Bank of New Zealand and registered banks including:

  • Deposits
  • Other liabilities

Equity

Funds contributed by the owners, reserves and retained earnings of the Reserve Bank of New Zealand and registered banks.

Note that equity is negative as it is presented on the asset-side in the counterparts of broad money.

Net other assets

Net other assets is calculated as Other assets less Other liabilities.

Other assets

All other assets not included elsewhere.

Other liabilities

All other liabilities not included elsewhere.

Symbols and conventions for summary table

0 Zero or value rounded to zero
- Not applicable
.. Not available
bold Revised/new
italics Provisional
light red background Historical

General notes

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