Money and credit aggregates (depository corporations) - C50

Previous years: Monthly:
May 2018 May 2019 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020
Broad money ($m)
Broad money (A+B) 295,316 312,948 322,987 326,490 337,987 344,965 343,608
A. Narrow money (M1) 65,717 71,541 78,690 80,489 91,128 96,079 95,289
A1. Currency held by the public 5,606 6,040 6,475 6,530 6,697 6,924 7,243
A2. Transaction deposits 60,111 65,501 72,215 73,959 84,430 89,156 88,046
B. Other components of broad money 229,598 241,408 244,297 246,000 246,860 248,886 248,319
B1. Savings deposits 78,159 77,708 81,140 81,663 86,859 91,161 90,914
B2. Term deposits 151,439 163,699 163,157 164,337 160,000 157,725 157,405
Domestic credit ($m)
Domestic credit (C+D) 438,919 466,780 486,277 493,500 507,618 513,826 514,698
C. Net credit to central government 993 3,406 6,160 9,449 18,929 27,768 28,368
C1. Credit to central government 20,071 20,792 25,588 28,787 34,579 42,460 51,280
C2. Less: Liabilities to central government 19,079 17,385 19,428 19,338 15,650 14,693 22,912
D. Private sector credit 437,926 463,373 480,117 484,051 488,689 486,058 486,331
D1. Loans 426,546 449,476 466,689 468,785 471,201 469,180 469,849
D2. Debt securities 5,208 6,286 5,630 5,919 6,718 6,821 6,603
D9. Other 6,173 7,611 7,798 9,348 10,769 10,057 9,879
Net credit to non-residents ($m)
Net credit to non-residents (E1-E2) -75,874 -84,700 -88,967 -91,912 -90,252 -88,493 -90,832
E1. Credit to non-residents 70,801 78,952 77,499 86,607 99,158 90,355 82,635
E2. Less: Liabilities to non-residents 146,675 163,652 166,465 178,519 189,410 178,848 173,467
Equity ($m)
Equity -44,664 -45,725 -48,158 -48,832 -48,365 -48,500 -48,829
Net other assets ($m)
Net other assets (F1-F2) -23,065 -23,407 -26,165 -26,267 -31,014 -31,869 -31,429
F1. Other assets 9,611 9,907 11,427 11,937 11,611 13,178 12,116
F2. Less: Other liabilities 32,676 33,313 37,592 38,203 42,625 45,047 43,545

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.

Bank Balance Sheet key points for May 2020

30 June 2020

The Bank Balance Sheet release for May includes an attached PDF file “Bank Balance Sheet key points – May 2020”. The file highlights some of the data impacted by COVID-19 and policy responses.

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
  • You are free to copy, distribute and adapt these statistics subject to the conditions listed on our copyright page.