Money and credit aggregates (depository corporations) - C50

Previous years: Monthly:
Nov 2018 Nov 2019 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020
Broad money ($m)
Broad money (A+B) 307,946 324,328 350,385 354,806 355,780 359,598 360,384
A. Narrow money (M1) 69,357 78,758 98,755 103,539 104,261 106,399 109,879
A1. Currency held by the public 5,903 6,464 7,188 7,253 7,354 7,467 7,407
A2. Transaction deposits 63,454 72,295 91,567 96,285 96,907 98,932 102,472
B. Other components of broad money 238,590 245,569 251,630 251,268 251,520 253,199 250,506
B1. Savings deposits 78,896 80,962 94,643 96,885 99,556 103,657 104,906
B2. Term deposits 159,694 164,607 156,987 154,383 151,963 149,542 145,600
Domestic credit ($m)
Domestic credit (C+D) 455,102 488,510 519,719 525,828 527,826 534,389 535,701
C. Net credit to central government 4,823 11,882 33,542 37,635 41,351 44,618 42,515
C1. Credit to central government 23,825 26,357 66,272 74,971 83,106 86,955 88,280
C2. Less: Liabilities to central government 19,001 14,476 32,730 37,337 41,755 42,337 45,766
D. Private sector credit 450,279 476,628 486,177 488,193 486,474 489,771 493,186
D1. Loans 438,022 462,957 469,015 471,476 469,864 472,056 475,480
D2. Debt securities 6,536 6,080 7,381 7,176 7,380 7,614 7,730
D9. Other 5,721 7,591 9,781 9,541 9,230 10,101 9,976
Net credit to non-residents ($m)
Net credit to non-residents (E1-E2) -78,940 -92,145 -88,981 -90,666 -94,335 -95,685 -96,927
E1. Credit to non-residents 68,856 70,842 79,627 75,176 65,773 63,669 67,379
E2. Less: Liabilities to non-residents 147,796 162,987 168,608 165,842 160,108 159,354 164,306
Equity ($m)
Equity -44,561 -47,240 -49,299 -49,870 -50,212 -50,643 -50,902
Net other assets ($m)
Net other assets (F1-F2) -23,654 -24,798 -31,054 -30,485 -27,499 -28,463 -27,486
F1. Other assets 10,617 11,441 13,074 17,882 11,706 16,538 13,790
F2. Less: Other liabilities 34,271 36,239 44,128 48,367 39,205 45,001 41,277

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 on the last working day of the 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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