Financial Stability Review – March 2009 List of tables

Boxes

Table 1: Banks' Latest Half Year Profit Results(a)
Consolidated, five largest banks
2007 2008 Per cent of average assets(b)
$b $b
Income
Net interest income 16.9 19.5 1.8
Net income from wealth management 3.3 1.2 0.1
Other non-interest income 7.6 7.8 0.7
Expenses
Operating expenses 12.9 13.8 1.3
Bad and doubtful debts 1.4 5.3 0.5
Profit
Net profit before tax 13.6 9.4 0.9
Net profit after tax and minority interests 9.3 8.1 0.7

(a) Half year to September for ANZ Banking Group, National Australia Bank, St George Bank and Westpac Banking Corporation; half year to December for Commonwealth Bank of Australia
(b) Annualised half-year results

Sources: Banks' annual and interim reports

Table 2: Long-term Ratings of Australian Banks(a)
As at 24 March 2009
Outlook Current Last change
Direction Date
Adelaide Bank Stable BBB+ ↑ October 2004
AMP Bank Stable A ↑ April 2008
ANZ Banking Group Stable AA ↑ February 2007
Arab Bank Australia Stable A− -- January 2007
Bank of Queensland Stable BBB+ ↑ April 2005
BankWest Stable AA ↑ December 2008
Bendigo and Adelaide Bank Stable BBB+ ↑ February 2005
Citigroup Negative A+ ↓ December 2008
Commonwealth Bank of Australia Stable AA ↑ February 2007
Elders Rural Bank Negative BBB ↑ August 2007
HSBC Bank Australia Negative AA ↑ July 2006
ING Bank (Australia) Negative AA ↑ August 2005
Macquarie Bank Negative A -- November 1994
Members Equity Bank Negative BBB ↑ August 2006
National Australia Bank Stable AA ↑ February 2007
Rabobank Stable AAA ↑ August 1998
St George Bank Stable AA ↑ November 2008
Suncorp-Metway Stable A ↓ January 2009
Westpac Banking Corporation Stable AA ↑ February 2007

(a) Includes all Australian-owned banks, and foreign-owned banks operating in Australia that have an issuer rating from Standard & Poor's

Source: Standard & Poor's

Table 3: Guaranteed Liabilities
Daily average value(a) Value as at
Dec 08(b)
$b		 Jan 09
$b		 Feb 09
$b		 24 Mar 09
$b
Deposits 18.1 19.2 19.3 --
Short-term wholesale 15.4 19.4 22.4 18.9
Long-term wholesale 8.6 35.9 60.4 81.2
Total 42.1 74.5 102.2 --
Memo: Fees paid ($m) 32.7 51.3 63.2 --

(a) Components may not add to the total due to rounding
(b) This includes 28–30 November, as the Deed of Guarantee became operative on 28 November

Source: Australian Government Guarantee Scheme Administrator

Table 4: Financial Strength Ratings of Selected Large Insurers
As at 24 March 2009
Current Outlook
Allianz Insurance Australia AA− Stable
Insurance Australia Group AA− Stable
QBE Insurance Australia A+ Stable
Suncorp-Metway Insurance A+ Stable
Source: Standard & Poor's
Table 5: Funds under Management
Consolidated, December 2008
Level Share of total
$b		 Six-month-ended annualized
percentage change
Jun 2008
Per cent		 Dec 2008
Per cent
Superannuation funds 717.6 59.9 −7.2 −18.6
Life insurers(a) 164.9 13.8 −20.5 −18.7
Public unit trusts 255.4 21.3 −16.8 −14.1
Other managed funds(b) 59.3 5.0 4.7 −11.2
Total 1,197.20 100.0 −10.8 −17.4
Of which:
All superannuation assets(c) 852.0 71.2 −12.1 −18.7

(a) Includes superannuation funds held in the statutory funds of life insurers
(b) Cash management trusts, common funds and friendly societies
(c) Superannuation funds plus an estimate of the superannuation assets held in the statutory funds of life insurers

Sources: ABS; RBA

Table 6: Superannuation Funds' Assets
Unconsolidated(a), December 2008
Level
$b		 Share of total
Per cent		 Six-month-ended annualised
percentage change
Jun-08
Per cent		 Dec-08
Per cent
Cash and deposits 154.9 17.8 14.7 19.9
Loans and placements 7.9 0.9 8.9 4
Short-term securities 37.7 4.3 3.9 −7.5
Long-term securities 48.2 5.5 −12.6 −16.5
Equities 238.9 27.5 −18.4 −38.1
Units in trusts 130.4 15 −19.1 −24.4
Other assets in Australia(b) 91.9 10.6 34.4 5.8
Assets overseas 158.6 18.3 −16.9 −22.8
Total 868.4 100.0 −9.2 −18.9

(a) Not adjusted for cross-investments with other managed fund sectors
(b) Includes non-financial assets

Source: ABS

Table 7: Public Unit Trusts' Assets
Unconsolidated(a), December 2008
Six-month-ended annualised
percentage change
Level
$b		 Share of total
Per cent		 Jun 2008
Per cent		 Dec 2008
Per cent
Listed property trusts 125.8 44.4 −1.4 0.9
Listed equity trusts 51.4 18.2 −6.4 −5.5
Unlisted equity trusts 75.7 26.8 −37.0 −38.4
Other trusts 30.2 10.7 −15.9 −18.9
Total 283 100.0 −17.4 −15.6

(a) Not adjusted for cross-investments with other managed fund sectors

Source: ABS

Table 8: RITS Throughput
Time by which each percentage of total value is settled
25 per cent 50 per cent 75 per cent
Jul 06 – Jul 07 12:00 14:45 16:15
Aug 07 – 12 Sep 08 11:45 14:30 16:00
15 Sep 08 – Oct 08 11:30 14:00 16:00
Nov 08 – Feb 09 11:45 14:00 15:45
Source: RBA
Table 9: Real Household Disposable Income(a)
Year-ended percentage change
Average
Dec 1980–Dec 1995 Dec 1995–Dec 2007 Dec 2008
Real disposable income before interest 2.7 4.2 9.7
Of which:
Compensation of employees 2.2 4.0 3.7
Government transfer payments 4.2 3.5 39.6
Income tax and other payables 2.6 4.0 −3.1

(a) Excludes unincorporated enterprises

Sources: ABS; RBA

Table 10: Housing Loan Arrears by Loan Characteristic(a)
Per cent of outstandings, January 2009
Loan-to-valuation ratio at time of loan approval
Loan size 0 to 60 60 to 75 75 to 85 85 to 95 95 +
Less than $250,000 0.1 0.3 0.5 0.9 1.4
$250,000–$500,000 0.2 0.3 0.7 1.4 1.7
More than $500,000 0.4 0.9 1.7 2.5 n.a.

(a) Securitised loans 90+ days past due; includes self-securitisations; only loans reporting approval LVR are included

Sources: Perpetual; RBA

Table A1: Fees on the Guarantee Scheme for Large Deposits and Wholesale Funding
Credit Rating Fee per annum
AAA to AA− 70 basis points (0.7 per cent)
A+ to A− 100 basis points (1.0 per cent)
BBB+ and below and Unrated 150 basis points (1.5 per cent)
Source: Australian Government Guarantee Scheme Administrator
Table A2: Changes in Selected Countries' Deposit Guarantee Arrangements
Previous Limit Current Limit Termination Date
Australia – Unlimited: first $1 million is
free, then voluntary access
via Guarantee Scheme		 11 October 2011
Austria €20,000 Unlimited 31 December 2009
Belgium €20,000 €100,000  
Denmark DKK300,000 Unlimited 30 September 2010
Finland €25,000 €50,000  
Germany €20,000 Unlimited  
Greece €20,000 €100,000 8 October 2011
Hong Kong HKD100,000 Unlimited 31 December 2010
Ireland €20,000 Unlimited 30 September 2010
Netherlands €38,000 €100,000  
New Zealand – NZ$1 million 12 October 2010
Singapore SGD20,000 Unlimited 31 December 2010
Spain €20,000 €100,000  
Sweden SEK250,000 SEK500,000  
Switzerland CHF30,000 CHF100,000  
United Kingdom £31,700 £50,000  
United States US$100,000 US$250,000 31 December 2009
Source: BIS