Money and credit aggregates (depository corporations) - C50

Previous years: Monthly:
Oct 2015 Oct 2016 Jun 2017 Jul 2017 Aug 2017 Sep 2017 Oct 2017
Broad money ($m)
Broad money (A+B) 245,876 267,649 278,031 282,011 280,572 281,276 286,487
A. Narrow money (M1) .. .. 59,808 61,936 60,079 61,146 63,395
A1. Currency held by the public .. .. 5,212 5,170 5,201 5,327 5,315
A2. Transaction deposits .. .. 54,597 56,766 54,878 55,819 58,079
B. Other components of broad money .. .. 218,222 220,076 220,493 220,130 223,092
B1. Savings deposits .. .. 79,407 79,411 78,008 78,046 79,070
B2. Term deposits .. .. 138,815 140,664 142,485 142,084 144,022
Domestic credit ($m)
Domestic credit (C+D) 379,921 411,553 422,112 428,238 425,925 429,567 432,792
C. Net credit to central government .. .. 3,261 7,782 3,937 6,103 4,513
C1. Credit to central government .. .. 20,597 21,989 21,680 22,190 21,373
C2. Less: Liabilities to central government .. .. 17,336 14,206 17,743 16,088 16,860
D. Private sector credit 377,077 407,104 418,852 420,455 421,988 423,464 428,279
D1. Loans .. .. 406,883 407,140 409,430 411,931 415,389
D2. Debt securities .. .. 5,755 5,820 5,789 5,518 5,538
D9. Other .. .. 6,214 7,495 6,769 6,014 7,352
Net credit to non-residents ($m)
Net credit to non-residents (E1-E2) .. .. -82,022 -81,549 -80,807 -84,630 -80,458
E1. Credit to non-residents .. .. 70,036 70,754 69,518 63,542 76,989
E2. Less: Liabilities to non-residents .. .. 152,058 152,304 150,324 148,172 157,447
Equity ($m)
Equity .. .. -39,524 -40,032 -40,456 -39,763 -41,447
Net other assets ($m)
Net other assets (F1-F2) .. .. -22,536 -24,645 -24,090 -23,898 -24,401
F1. Other assets .. .. 9,215 8,868 9,237 9,036 9,028
F2. Less: Other liabilities .. .. 31,751 33,513 33,328 32,934 33,429

Coverage, Periodicity, and Timeliness of Data

Coverage

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 website

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.

Integrity

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

Data are collected under Sections 36 and 93 of The Reserve Bank of New Zealand Act (1989).

The Reserve Bank publishes aggregated data. Individual institutional data is confidential.

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

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’.

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 Value rounded to zero
- Zero or 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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