Reserve Bank analytical accounts ($m) - R3

13 October 2017 03:00 p.m.
Next release
14 November 2017 03:00 p.m.
Reserve Bank of New Zealand
Previous years: Monthly:
Sep 2015 Sep 2016 May 2017 Jun 2017 Jul 2017 Aug 2017 Sep 2017
Net foreign assets 20,509 19,620 20,723 20,760 18,225 20,948 20,992
Claims on non-residents 22,189 20,770 22,098 22,188 19,219 21,796 21,920
less Liabilities to non-residents 1,680 1,150 1,375 1,428 994 848 929
Claims on other depository corporations 360 531 1,012 757 376 793 106
Net claims on central government -2,306 -4,423 -5,882 -5,777 -1,413 -5,092 -3,799
Claims on central government 3,157 3,507 3,561 3,667 4,776 4,838 4,828
less Liabilities to central government (1) 5,464 7,930 9,443 9,445 6,189 9,930 8,628
Claims on other sectors 2 3 3 3 3 3 3
Monetary base 12,808 12,617 12,449 12,717 13,641 13,377 13,845
Currency in circulation 5,476 5,661 5,919 5,897 5,882 5,908 5,949
Liabilities to other depository corporations (2) 7,331 6,956 6,529 6,820 7,758 7,468 7,896
Liabilities to other sectors - - - - - - -
Other liabilities to other depository corporations 2,695 295 502 380 896 468 664
Deposits and securities excluded from monetary base - - - - - - -
Loans - - - - - - -
Financial derivatives - - - - - - -
Shares and other equity capital 3,002 2,818 2,925 2,685 2,695 2,850 2,835
Other items (net) 61 1 -20 -39 -40 -42 -42
(1) Crown settlement accounts 3,474 6,182 7,260 7,146 3,901 7,596 6,445
(2) Settlement institutions' balances 7,331 6,956 6,529 6,820 7,758 7,468 7,896

The Data: Coverage, Periodicity, and Timeliness

Coverage characteristics

The table shows assets and liabilities as at end of month in millions of New Zealand dollars. All assets and liabilities denominated in foreign currency are converted into New Zealand dollars at the relevant exchange rates at balance date. The data starts from December 2001.

The table excludes New Zealand accounts with the IMF. IMF accounts are managed by the Debt Management Office at the New Zealand Treasury and can be accessed at

R3 shows balance sheet accounts classified by broad institutional sector of counterparties. Net foreign assets are net claims on non-residents and include such reserves as defined in the International Reserves and Foreign Currency Liquidity (IMF 2001 & 2012) plus other relevant assets of RBNZ. The main aggregates on the liability side are the monetary base, liabilities to other depository corporations and the Reserve Bank's capital equity.

The main counterparty sub-sectors in the New Zealand economy are:

  • Financial Corporations
    • Reserve Bank of New Zealand
    • Other Depository Corporations
      • Registered Banks
        • Private registered banks
        • Government registered bank
      • Savings institutions
        • Credit Unions
        • Building Societies
      • Deposit taking finance companies
      • Managed funds (PIE funds)
    • Other financial corporations
      • Insurance companies
      • Pension funds
      • Other financial corporations except insurance and pension funds
  • Nonfinancial corporations
    • Private producer enterprises
    • Producer boards
    • Government enterprises
      • Central government enterprises
      • Local government enterprises
  • General government
    • Central government
      • Central government
      • Funded Social Security schemes
    • Local government
    • R┼źnanga Iwi
  • Other resident sectors
    • Households
    • Non-profit institutions serving households




Data is released on the second to last working day of the month.

Access by the public

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.


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

The information is disseminated by the Reserve Bank as a service to the public in a format that preserves the confidentiality of transactions. The function and operations of the Reserve Bank are governed by the Reserve Bank Act 1989.

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.


Dissemination of documentation on methodology and sources used in preparing statistics

The statistical data are prepared using guidelines contained in the Monetary and Financial Statistics Manual (IMF 2000) and subsequent Compilation Guide (IMF 2008) available from

Official reserve assets (MFSM 2000)

RBNZ gross liquid claims on non-residents, excluding New Zealand accounts with the IMF. Include securities encumbered in repurchase agreements and similar reverse transactions. For international reserves data defined according to Balance of Payments/International Investment Position (IIP) standards, see table E1 and SDDS

Monetary base

A set of liquid liabilities that, according to MFSM 2000, supports the expansion of broad money and credit. Also referred to as high-powered money, the concept includes currency in circulation outside RBNZ and settlement accounts of depository corporations at RBNZ. Exclude Reserve Bank Bills issued by RBNZ. Compulsory reserve requirements on depository corporations were abolished in February 1985

Short term

Financial instruments with original maturities of one year or less

Long term

Financial instruments with original maturities of over one year

Repurchase agreements

Securities repurchases, reverse repurchases and securities lending are classified as collateralised loans

Other depository corporations (ODC)

Registered banks and other deposit taking institutions operating in New Zealand

Other financial corporations (OFC)

Insurance companies, pension funds and other non-deposit taking financial corporations

Central government

Government departments, local authorities, Rūnanga Iwi and funded social security schemes

Public non-financial corporations

Government and local authority trading enterprises

Other non-financial corporations

Private producer enterprises

Other resident sectors

Households and non-profit institutions serving households


Entities whose centre of economic interest is located outside New Zealand territories

Memorandum item: Crown settlement accounts

Transferable deposits of the central government at the Reserve Bank

Memorandum item: Settlement institutions balances

Transferable deposits of ESAS account holders at the Reserve Bank. Settlement institutions include several registered banks and other approved financial institutions

MFSM 2000

Statistical methodology and guidelines contained in the Monetary and Financial Statistics Manual, IMF 2000

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