Money and credit aggregates (depository corporations) - C50

Previous years: Monthly:
Nov 2017 Nov 2018 Jul 2019 Aug 2019 Sep 2019 Oct 2019 Nov 2019
Broad money ($m)
Broad money (A+B) 289,390 307,946 318,934 317,126 320,212 321,673 324,328
A. Narrow money (M1) 64,120 69,357 74,510 72,722 75,370 76,187 78,758
A1. Currency held by the public 5,496 5,903 6,088 6,174 6,150 6,291 6,464
A2. Transaction deposits 58,624 63,454 68,422 66,548 69,219 69,896 72,295
B. Other components of broad money 225,270 238,590 244,424 244,404 244,842 245,486 245,569
B1. Savings deposits 79,379 78,896 78,701 77,750 78,961 80,046 80,962
B2. Term deposits 145,891 159,694 165,722 166,654 165,881 165,440 164,607
Domestic credit ($m)
Domestic credit (C+D) 434,729 455,102 478,562 480,498 482,296 485,062 488,510
C. Net credit to central government 5,869 4,823 10,000 7,689 8,164 9,659 11,882
C1. Credit to central government 22,299 23,825 22,964 23,229 23,627 24,632 26,357
C2. Less: Liabilities to central government 16,429 19,001 12,964 15,540 15,463 14,973 14,476
D. Private sector credit 428,860 450,279 468,562 472,809 474,132 475,403 476,628
D1. Loans 416,093 438,022 454,339 456,217 457,884 460,954 462,957
D2. Debt securities 5,865 6,536 6,662 6,682 6,784 6,508 6,080
D9. Other 6,902 5,721 7,561 9,910 9,464 7,941 7,591
Net credit to non-residents ($m)
Net credit to non-residents (E1-E2) -77,250 -78,940 -90,367 -92,633 -89,622 -91,834 -92,145
E1. Credit to non-residents 74,190 68,856 74,469 84,328 80,683 71,098 70,842
E2. Less: Liabilities to non-residents 151,440 147,796 164,836 176,961 170,305 162,932 162,987
Equity ($m)
Equity -43,363 -44,561 -46,346 -46,528 -46,588 -46,854 -47,240
Net other assets ($m)
Net other assets (F1-F2) -24,727 -23,654 -22,916 -24,211 -25,875 -24,701 -24,798
F1. Other assets 9,433 10,617 10,216 10,707 10,556 11,411 11,441
F2. Less: Other liabilities 34,160 34,271 33,132 34,918 36,430 36,113 36,239

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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