Financial Aggregates October 2001

Release date: 30 November 2001

Credit provided to the private sector by financial intermediaries rose by 0.5 per cent in October, in seasonally adjusted terms, following a rise of 1.0 per cent in September. Total credit rose by 8.5 per cent over the year to October.

Both M3 and broad money rose by 1.0 per cent in October, in seasonally adjusted terms. Over the year to October, M3 rose by 10.4 per cent and broad money rose by 7.8 per cent.

Growth rates are reported after adjusting for the effects of the breaks in series recorded in the footnotes to tables.  Figures showing the levels of financial aggregates are not adjusted for series breaks.

This month's figures incorporate the move to a new reporting regime for credit unions and building societies, in line with the APRA Statistics Project. The new reporting requirements have led to a change in the tables, with the series ‘Bank bills held by NBFIs’ and ‘Bank bills held outside intermediaries’ combined into ‘Bank bills held outside banks’.

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