Historical Series Breaks

Breaks in series due to establishment of new banks and other changes in reporting arrangements [*].

A. Breaks in Series due to Establishment of New Banks [**]

Date New Bank Former Name(s) Previous Classification
Sep 1983 Bank of Queensland Savings Bank .. ..
Mar 1985 Macquarie Bank Limited Hill Samuel Australia Limited MMC
Jun 1985 Advance Bank Limited N.S.W. Building Society PBS
Oct 1985 CHASE AMP Bank Limited CHASE AMP Acceptances Ltd MMC
  Lloyds Bank NZA Limited Lloyds International Limited MMC
Dec 1985 Barclays Bank Australia Limited Barclays Australia Limited MMC
  Bank of China .. ..
  Bank of Tokyo Australia Limited BOT Australia Ltd MMC
  Citibank Limited Citicorp Australia/CitiSecurities Limited FC/MMC
  Citibank Savings Limited Citicorp Australia/CitiSecurities Limited FC/MMC
  IBJ Australia Bank Limited .. ..
Jan 1986 Mitsubishi Bank of Australia Limited .. ..
Feb 1986 Bankers Trust Australia Limited BT Australia Limited MMC
  Deutsche Bank Australia Limited European Asian of Australia Limited MMC
  HongkongBank of Australia Limited Wardley Australia Limited MMC
  NatWest Australia Bank Limited NatWest Finance Limited FC
  National Mutual Royal Bank Limited Capel Court Corporation Group/Mercantile Credits Group/National Mutual RBC MMC
  National Mutual Royal Savings Bank Limited National Mutual Permanent Building Society PBS
Apr 1986 Standard Chartered Bank Australia Limited Standard Chartered Finance Ltd FC
May 1986 Bank of America Australia Limited BA Australia Limited/BA Australia Leasing Limited MMC
Jun 1986 Bank of Singapore (Australia) Limited .. ..
  Civic Advance Bank Limited Civic Co-operative Permanent Building Society Ltd PBS
Mar 1987 National Mutual Royal Savings Bank (NSW) Limited United Permanent Building Society Ltd PBS
Apr 1987 Challenge Bank Limited Perth Building Society/Hotham Permanent Building Society PBS
Sep 1987 Tasmania Bank The Tasmanian Permanent Building Society/Launceston Bank for Savings PBS/SB
Jul 1988 Metway Bank Limited Metropolitan Permanent Building Society PBS
Jul 1989 Bank of Melbourne Limited RESI-Statewide Building Society PBS
Aug 1990 Canberra Advance Bank Limited Civic Advance Bank Limited/Canberra Permanent Co-operative Building Society Limited B/PBS
Oct 1991 Town & Country Bank Limited Town & Country W.A. Building Society PBS
Jul 1992 St. George Bank Limited St. George Building Society Ltd PBS
May 1993 Overseas Union Bank Limited OUB Australia Limited MMC
Sep 1993 United Overseas Bank Limited UOB Australia Limited MMC
Jan 1994 Adelaide Bank Limited The Co-operative Building Society of South Australia PBS
  State Street Bank and Trust Company State Street Finance Limited MMC
Mar 1994 Barclays Bank PLC .. ..
Apr 1994 St. George Partnership Banking Limited Barclays Bank Australia Limited B
May 1994 Credit Suisse Credit Suisse Bullion Pacific Limited MMC
Jul 1994 Bank of South Australia Limited State Bank of South Australia B
  Bank of America NT & SA Bank of America Australia Limited B
  NBD Bank, N.A. Michell NBD Limited MMC
  Deutsche Bank AG Deutsche Bank Australia Limited B
Sep 1994 Arab Bank Australia Limited Arab Australia Limited MMC
Oct 1994 The First National Bank of Chicago First Chicago Australia Limited MMC
Nov 1994 Morgan Guaranty Trust Company of New York J.P. Morgan Australia Limited MMC
Dec 1994 ING Mercantile Mutual Bank Limited Mercantile Mutual Finance Corporation Limited GF
Jan 1995 The Dai-Ichi Kangyo Bank, Limited Dai-Ichi Kangyo Australia Limited MMC
Mar 1995 Midland Bank PLC .. ..
Jul 1995 Bendigo Bank Limited Bendigo Sandhurst Mutual Permanent Land and Building Society PBS
Sep 1995 Queensland Industry Development Corporation .. ..
Oct 1995 The Chase Manhattan Bank (NA) The Chase Manhattan Bank Australia Limited B
Feb 1996 The Citibank N.A. .. ..
Apr 1996 The Asahi Bank, Ltd Asahi Finance (Australia) Ltd MMC
Jul 1996 ANZ Grindlays Bank Limited ANZ Grindlays Bank PLC (UK) ..
  Oversea-Chinese Banking Corporation Limited .. ..
Aug 1996 Co-operative Central Raiffeisen-Boerenkenbank B.A. .. ..
Nov 1996 Westdeutsch Landesbank Girozentrale .. ..
Feb 1997 Royal Bank of Canada .. ..
Oct 1997 The International Commercial Bank of China .. ..
Nov 1997 ING Bank NV .. ..
Jan 1998 Dresdner Bank AG Dresdner Australia Limited MMC
Apr 1998 NM Rothschild & Sons (Australia) Limited Rothschild Australia Limited MMC
May 1998 ABN AMRO Bank N.V. .. ..
Jun 1998 AMP Bank Limited .. ..
Aug 1998 The Toronto-Dominion Bank Toronto Dominion Australia Limited MMC
Jun 2000 Elders Rural Bank Elders Rural Services Limited PFC
Aug 2002 Investec Bank Investec Australia Limited MMC
Dec 2002 Fortis Bank SA/NV .. ..
Jan 2004 Société Générale SG Australia Ltd MMC
  UBS AG .. ..
Aug 2005 Bank of China (Australia) Limited .. ..
Sep 2005 HBOS Treasury Services Plc .. ..
Aug 2006 Sumitomo Mitsui Banking Corporation .. ..

B. Breaks in Series due to Other Changes in Bank Reporting

Date Nature of Change Details
Jan 1984 Change in report forms (introduction of supplement to forms I and J for savings banks) New form provided detail on savings banks fixed deposits, statement accounts etc.
Jul 1984 Change in accounting procedures by a bank (or banks) Reclassification of some current deposits and fixed deposits.
Jan 1985 Change in report forms (introduction of supplement to form D for trading banks) New form provided more detail on lending.
Oct 1985 Change in collection coverage Foreign currency assets and liabilities included.
Jun 1986 Change in collection coverage Minor break in financial aggregates as identified foreign currency deposits with savings banks excluded.
Jul 1987 Change in collection coverage PIBA included. This added $795 million to total assets of banks and smaller amounts to the financial aggregates.
  Reporting error Data on amounts financed for credit cards revised due to the correction of a reporting error by one bank.
Sep 1987 Reporting change Estimate of banks’ term deposit rates ($10,000) from September 1987 to August 1988. The estimate is based on data on banks’ rates for balances between $5,000 and $100,000.
Jan 1989 Major change in report forms and coverage (new form D for trading banks and form I for savings banks) Change in classification of assets and liabilities. Savings banks commence reporting weekly. Non-residents A$ assets/liabilities included.
    New classification provides separate data on bank bills (previously included in ‘all other’), borrowing from and lending to governments, and from (to) other financial institutions (previously only Reserve Bank, authorised money market dealers and banks), loans for owner occupied housing (previously only available for savings banks).
  Change in collection coverage ARDB included. This added $382 million to total assets of banks and smaller amounts to the financial aggregates. CDB included. This added $2,034 million to total assets of banks and smaller amounts to the financial aggregates.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.1 billion of ‘deposits – other’ to ‘other borrowings’.
Jan to May 1989 Change in collection coverage Defence Services Home Loan portfolio acquired by a bank.
May to Jul 1989 Change in collection coverage Transfer of loans from Tricontinental Holdings Ltd to State Bank of Victoria.
Jul 1989 Change in collection coverage Transfer of housing loans to the public sector by one bank.
Jan 1990 Major change in report forms and coverage Change in basis from ‘in Australia’ to ‘on Australian books’.
    Distinction between savings and trading banks abolished.
    Non-resident foreign currency assets included.
Jan 1991 State Bank of Victoria no longer included separately Included in Commonwealth Bank of Australia.
  Reclassification of items by a bank (or banks) Reclassification of approximately $2.0 billion of ‘current deposits’ to ‘all other A$ liabilities’ and ‘other borrowings’.
    Reclassification of approximately $1.0 billion of ‘all other A$ assets’ to loans to financial intermediaries.
  Reporting change Reporting change by a bank reduced ‘other borrowings – other’ and ‘total liabilities’ by approximately $1.3 billion.
Apr 1991 Change in collection coverage Transfer of commercial loans from NBFIs to a bank.
Jul 1991 Reporting change Reporting change by a bank reduced ‘foreign currency liabilities’ and ‘total liabilities’ by around $1.0 billion.
    ‘Foreign currency assets’ and ‘total assets’ fell by approximately $1.7 billion.
Aug 1991 Reclassification of items by a bank (or banks) Reclassification of approximately $2.1 billion of fixed deposits to interest bearing current deposits and ‘other’ deposits.
Sep 1991 Reclassification of items by a bank (or banks) Reclassification of some non-resident deposits to resident deposits.
    Reclassification of current deposits to investment savings account deposits.
    Reclassification of some investment housing loans to owner-occupied housing.
Dec 1991 National Mutual Royal Bank Limited no longer included separately Included in Australia and New Zealand Banking Group Limited.
May 1992 Reclassification of items by a bank (or banks) Reclassification of ‘other’ deposits to ‘investment savings account’ deposits.
Jul 1992 Reclassification of items by a bank (or banks) Reclassification of approximately $2.5 billion of ‘other’ deposits to ‘current deposits’.
    Reclassification of approximately $2.5 billion of loans from private sector to government sector associated with the transfer of non-performing loans to government.
  ANZ Savings Bank Limited no longer included separately Included in Australia and New Zealand Banking Group Limited; interbank accounts reduced by approximately $4.0 billion. Financial aggregates not affected.
Aug to Sep 1992 Transfer of assets and liabilities Transfer of approximately $1.3 billion of assets and liabilities from a non-bank subsidiary to parent bank.
Oct 1992 National Australia Savings Bank Limited no longer included separately Included in National Australia Bank Limited; interbank accounts reduced by approximately $2.9 billion. Financial aggregates not affected.
Jan 1993 Commonwealth Savings Bank of Australia no longer included separately Included in Commonwealth Bank of Australia; interbank accounts reduced by approximately $1.3 billion. Financial aggregates not affected.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.5 billion of government securities to fixed loans.
    Reclassification of some investment housing loans to owner-occupied housing.
Mar 1993 Reclassification of items by a bank (or banks) Reclassification of approximately $1.0 billion of ‘other’ commercial loans to fixed loans.
Apr 1993 Reporting change Reporting change by a bank increased ‘foreign currency assets’ and ‘total assets’ by approximately $0.9 billion.
  Reclassification of items by a bank (or banks) Reclassification of approximately $0.8 billion of ‘investment savings account’ deposits to ‘current deposits bearing interest’.
Jun 1993 Transfer of assets and liabilities Transfer of approximately $1.0 billion of assets and liabilities from MMC to parent bank.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.5 billion of ‘all other (resident) liabilities’ to ‘other (non-resident) borrowings’.
Jul 1993 Change in accounting procedures by a bank (or banks) Reporting change by a bank reduced both ‘current deposits’ and ‘overdrafts’ by approximately $1.0 billion.
Oct 1993 Westpac Savings Bank Limited no longer included separately Included in Westpac Banking Corporation; interbank accounts reduced by approximately $2.2 billion. Financial aggregates not affected.
Apr 1994 Barclays Bank Australia Limited no longer included Transfer of some assets and liabilities to MMC.
Jul 1994 Reclassification of items by a bank (or banks) Reclassification of approximately $1.2 billion of fixed personal loans to commercial loans.
  Transfer of assets and liabilities Transfer of approximately $3.4 billion of assets and liabilities from a bank to the government sector.
  Deutsche Bank Australia Limited no longer included Transfer of some assets and liabilities to MMC.
Sep 1994 Bank of Queensland Savings Bank Limited no longer included separately Included in Bank of Queensland Limited; interbank accounts reduced by approximately $0.3 billion. Financial aggregates not affected.
Oct 1994 Reclassification of items by a bank (or banks) Reclassification of $0.8 billion of ‘current non-interest bearing deposits’ from the government sector to ‘Other’.
    Reclassification of approximately $0.6 billion of fixed commercial loans as personal loans.
    Reclassification of some government overdraft loans to commercial overdrafts.
Jan 1995 Citibank Savings Limited no longer included separately Included in Citibank Limited; interbank accounts reduced by approximately $1.8 billion. Financial aggregates not affected.
Apr 1995 Reporting change Reporting change by a bank reclassified some resident foreign currency liabilities to non-resident liabilities and reduced both total foreign currency liabilities and assets by approximately $0.6 billion.
Jun 1995 Reporting change Reporting change by a bank reduced ‘all other A$ liabilities’, ‘total liabilities’ and ‘total assets’ by approximately $1.2 billion.
Jul 1995 Town & Country Bank Limited no longer included separately Included in Australia and New Zealand Banking Group Limited; interbank accounts reduced by approximately $1.0 billion. Financial aggregates not affected.
Dec 1995 Bank of America Australia Limited no longer included Transfer of some assets and liabilities to MMC.
  Reclassification of items by a bank (or banks) Reclassification of $0.2 billion from commercial loans to owner-occupied and investment housing in the December quarter 1995 and revision to the levels of business credit outstanding from December 1995 to the September quarter 1998 inclusive.
    Table B17 (now Table D7) has been revised for this period and the weighted average interest rates on credit outstanding, as published in Tables B18 (now Table D8) and F4 (now Table F5), have also been revised.
Feb to Mar 1996 Reclassification of items by a bank (or banks) Reclassification of ‘statement savings account’ to interest bearing current deposits.
Mar 1996 Reclassification of items by a bank (or banks) Reclassification of approximately $0.4 billion of owner-occupied housing loans as investment housing.
    Reclassification of approximately $0.6 billion of fixed personal loans as commercial loans.
Apr 1996 Reporting change Reporting change by a bank reduced ‘all other A$ assets’ and ‘total assets’ by approximately $0.8 billion.
Dec 1996 Transfer of assets and liabilities Transfer of approximately $3.2 billion of assets and liabilities from NBFIs to a bank.
Jan 1997 Advance Leasing Limited no longer included Transfer of assets to the non-bank sector.
Feb 1997 Bank of Singapore (Australia) Limited no longer included Transfer of assets to the non-bank sector.
Apr 1997 St. George Partnership Banking Limited no longer included separately Included in St. George Bank Limited.
  Challenge Limited no longer included separately Transfer of some assets and liabilities to the non-bank sector.
May 1997 Bank of New Zealand no longer included separately Included in National Australia Bank Limited.
Mar 1998 Reporting change Reporting change by a bank increased the number of debit card accounts, and the number and value of debit cards purchases.
    The introduction of a market risk capital charge for banks has changed the level of risk-weighted assets reported by banks in respect of both on-and off-balance sheet business.
Apr 1998 Advance Bank Australia Limited no longer included separately Included in St. George Bank Limited.
  Change in collection coverage A bank ceased to write new business for variable rate, secured personal instalment loans; this has affected the calculation of the midpoint rate.
May 1998 Bank of Melbourne Limited no longer included separately Included in Westpac Banking Corporation.
  Reporting change Changes in the pricing policies of banks altered the basis for determining the indicator rate applying to small business term loans and overdrafts.
Jun 1998 NatWest Markets Australia Limited Transfer of some assets and liabilities to the non-bank sector.
  Transfer of assets and liabilities Transfer of approximately $2.4 billion of assets and liabilities from MMC to parent bank.
    Merger and acquisition activity in the Australian banking sector broadened the coverage of the bank fees survey from 1998. However, the greater coverage is estimated to have increased total bank fees in 1998 by less than 5 per cent.
Jul 1998 Reporting change Introduction of a new off-balance sheet business reporting regime for AFIs.
Aug 1998 Reclassification of items by a bank (or banks) Reclassification of approximately $0.7 billion of ‘other’ personal loans to owner-occupied housing and investment housing.
  Reporting change Introduction of a new off-balance sheet business reporting regime for AFIs.
Sep 1998 Reporting change Introduction of a new off-balance sheet business reporting regime for AFIs.
Jan 1999 Change in collection coverage Change in the cash management account and term deposit products used to calculate indicator rates.
May 1999 Reporting change Reporting change by a bank increased the number of debit card accounts.
Sep 1999 Transfer of assets and liabilities Transfer of approximately $2.2 billion of assets and liabilities from MMC to parent bank.
Mar 2000 Reporting change Reporting change by a bank increased the number of credit card accounts.
Jun 2000 Reporting change Change in off-balance sheet business reporting requirements for banks.
Jul 2000 Reporting change Bank data reported as end-month, rather than monthly average.
  Reclassification of items by a bank (or banks) Reclassification of approximately $2.5 billion of ‘fixed’ personal loans and $2.6 billion of ‘overdraft’ personal loans to owner-occupied housing.
Nov 2000 Reclassification of items by a bank (or banks) Reclassification of approximately $1.4 billion of deposits by a bank.
Dec 2000 Reclassification of items by a bank (or banks) Reclassification of approximately $2 billion of assets by a bank.
Jan 2001 Reclassification of items by a bank (or banks) Reclassification of approximately $2 billion of ‘fixed’ personal loans to ‘fixed’ business loans by a bank.
    Reclassification of approximately $0.7 billion of owner-occupied housing loans to investment housing loans by a bank.
    Reclassification of approximately $1.8 billion of assets by a bank.
Apr 2001 Transfer of assets and liabilities Transfer of approximately $4.5 billion of assets and liabilities due to sale of a subsidiary by a bank.
  Reporting change Reporting change by a bank decreased the number of debit card accounts.
  Change in collection coverage Addition of a bank to the sample used to calculate the rates on banks’ transaction accounts, cash management accounts and term deposits.
May 2001 Reclassification of items by a bank (or banks) Reclassification of approximately $0.7 billion of assets by a bank.
Jun 2001 Reclassification of items by a bank (or banks) Reclassification of approximately $1.4 billion of assets and liabilities by a bank.
  Reporting change Acquisition of one bank by another resulted in a decrease in the number of debit card accounts.
Jul 2001 Reclassification of items by a bank (or banks) Reclassification of approximately $2.1 billion of assets and liabilities by banks.
Aug 2001 Change in collection coverage Removal of a bank from the sample used to calculate the rates on banks’ 3-year term deposits.
Sep 2001 Transfer of assets Transfer of approximately $1.6 billion of assets between a bank and a subsidiary.
  Transfer of assets and liabilities Transfer of approximately $1.3 billion of assets and liabilities from NBFIs to a bank.
Dec 2001 Reclassification of items by a bank (or banks) Reclassification of approximately $3 billion of assets by banks.
Jan 2002 Transfer of assets and liabilities Transfer of approximately $0.8 billion between a bank and a related corporation.
  Reporting change and change in collection coverage Breaks in series due to addition of reporting banks. Breaks also due to revised definitions and changes in reporting by incumbent reporting banks. Credit and charge card accounts, transactions, balances and limits are affected, particularly by the inclusion of charge cards from January 2002 onwards. Debit card accounts, purchases and ATM cash withdrawals are also affected. Financial aggregates are not affected.
Feb 2002 Reclassification of items by a bank Reclassification of approximately $0.5 billion deposits from a related entity to a third party by a bank.
Mar 2002 Transfer of assets Transfer of approximately $0.7 billion of assets between a bank and a related entity.
  Transfer of assets and liabilities Transfer of approximately $1.3 billion of deposits between banks and related entities.
  Reporting change Introduction of a new off-balance sheet business reporting regime for banks.
Apr 2002 Reporting change Introduction of a new data reporting regime for banks.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.8 billion deposits by a bank.
May 2002 Transfer of assets and liabilities Transfer of assets and liabilities between NBFIs and banks.
Jun 2002 Transfer of assets and liabilities Transfer of approximately $0.6 billion of assets and liabilities between NBFIs and banks.
  Reclassification of items by a bank (or banks) Reclassification of approximately $4 billion of deposits by banks.
Jul 2002 Transfer of assets and liabilities Transfer of approximately $0.6 billion of liabilities between NBFIs and banks.
    Transfer of approximately $0.9 billion of assets between banks and related entities.
Aug 2002 Reclassification of items by a bank (or banks) Reclassification of approximately $0.5 billion deposits by a bank.
Sep 2002 Reclassification of items by a bank (or banks) Reclassification of approximately $1.5 billion deposits by banks.
  Transfer of assets and liabilities Transfer of approximately $0.6 billion of deposits between banks and related entities.
Oct 2002 Transfer of assets and liabilities Transfer of approximately $0.5 billion of deposits between banks and related entities.
    Transfer of approximately $1.1 billion of assets between a bank and its subsidiary.
Nov 2002 Transfer of assets and liabilities Transfer of approximately $1.1 billion of deposits between banks and related entities.
    Transfer of approximately $1.1 billion of assets between a bank and its subsidiary.
  Reclassification of items by a bank (or banks) Reclassification of approximately $0.9 billion of deposits by a bank.
Dec 2002 Transfer of assets Transfer of approximately $0.5 billion of loans between banks and related entities.
  Transfer of assets and liabilities Transfer of approximately $1.3 billion of assets and liabilities from NBFIs to a bank.
Feb 2003 Transfer of assets Transfer of approximately $1.2 billion between a bank and its subsidiary.
Mar 2003 Transfer of assets Transfer of approximately $2.7 billion between a bank and its subsidiary.
  Reporting change Some series for international banking statistics for this quarter were derived using averages over several subsequent quarters.
Apr 2003 Change in collection coverage Addition of a bank to the sample used to calculate the rate on banks’ bonus savings accounts.
May 2003 Reporting change Addition of a bank to the sample used to calculate personal lending and housing loan indicator rates. The methodology used to calculate the unsecured fixed term personal rate changed from the midpoint of all products offered by the major banks to the arithmetic average of standardised loan products.
  Reclassification of items by a bank (or banks) Reclassification of approximately $0.7 billion of assets by a bank.
Jun 2003 Reclassification of items by a bank (or banks) Reclassification of approximately $1 billion of deposits by a bank.
Jul 2003 Reporting change Introduction of revised reporting form for banks.
Aug 2003 Reclassification of liabilities Reclassification of approximately $0.4 billion of liabilities by a bank.
Dec 2003 Reporting change Change in reporting of lending by a bank.
  Transfer of assets Transfer of $2.2 billion between NBFIs and banks.
Jan 2004 Transfer of assets Transfer of $3.1 billion between MMCs and banks.
  Transfer of liabilities Transfer of $2.4 billion between MMCs and banks.
  Change in collection coverage Change in the products used to calculate the rate on banks’ cash management accounts.
  Reporting change Change in reporting of lending by a bank.
Mar 2004 Acquisition of foreign claims and liabilities The acquisition of The National Bank of New Zealand Limited by Australia and New Zealand Banking Group Limited resulted in an increase in claims and liabilities in New Zealand of $34.4 billion and $30.1 billion, respectively.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.0 billion of loans by a bank.
Apr 2004 Transfer of assets Transfer of approximately $1.5 billion of assets from an FCGF to a bank.
Jun 2004 Transfer of assets Transfer of approximately $1.0 billion of assets from FCGFs to banks.
  Reclassification of items by a bank (or banks) Reclassification of approximately $1.3 billion of owner-occupied housing loans to investor housing loans by a bank.
Jul 2004 Transfer of assets Transfer of approximately $0.6 billion of assets from FCGFs to banks.
Aug 2004 Reclassification of items by a bank (or banks) Reclassification of approximately $0.4 billion of loans by a bank.
Sep 2004 Reclassification of items by a bank (or banks) Reclassification of approximately $1.8 billion of deposits by banks.
Oct 2004 Reclassification of items by a bank (or banks) Reclassification of approximately $1.5 billion of loans by banks.
Dec 2004 Reclassification of items by a bank (or banks) Reclassification of approximately $1.0 billion of loans by a bank.
Jan 2005 Reclassification of items by a bank (or banks) Reclassification of approximately $1.0 billion of loans by a bank.
  Change in collection coverage Change in the products used to calculate the rate on banks’ cash management accounts.
Mar 2005 Sale of foreign claims and liabilities The sale of Northern Bank Limited by National Australia Bank Limited resulted in a decrease in claims and liabilities in the United Kingdom of $9.3 billion and $8.4 billion, respectively.
    The sale of National Irish Bank Limited by National Australia Bank Limited resulted in a decrease in claims and liabilities in Ireland of $6.8 billion and $4.2 billion, respectively.
Apr 2005 Change in collection coverage Addition of a bank to the sample used to calculate the rate on banks’ bonus savings accounts.
Feb 2006 Transfer of assets Transfer of approximately $2.3 billion of assets from an MMC to a bank.
Mar 2006 Reclassification of items by a bank (or banks) Reclassification of approximately $0.7 billion of loans by a bank.
Jul 2006 Reclassification of items by a bank (or banks) Reclassification of approximately $1.8 billion of loans by a bank.
  Reporting change Changes to reporting forms due to incorporation of International Financial Reporting Standards (IFRS)
Aug 2006 Reclassification of items by a bank (or banks) Reclassification of approximately $0.4 billion of loans by a bank.
  Transfer of assets Transfer of approximately $0.6 billion of assets from an FCGF to a bank.
Sep 2006 Reclassification of items by a bank (or banks) A bank changed its reporting system which resulted in some loans being reclassified.
Oct 2006 Transfer of assets Transfer of approximately $3.8 billion of loans from a bank to a related entity.
  Reporting change Break in financial institution cheque series due to change in reporting by a bank.
Nov 2006 Transfer of assets Transfer of approximately $0.6 billion of assets from an FCGF to a bank.
Dec 2006 Transfer of assets Transfer of approximately $2 billion of loans from a bank to another entity.

C. Breaks in Series due to Changes in Coverage and Reporting of Non-banks [***]

Date Nature of Change Details
Aug 1976 Change in collection coverage Addition of CUBS data to M3 coverage resulting in approximately $4.5 billion increase in M3 level.
Feb 1983 Change in collection coverage Cash management trusts included in financial aggregates. This added $1 493 million to loans and advances by all financial intermediaries and credit in February 1983.
Jun 1984 Change in collection coverage Identifiable transactions between other corporations in the same category excluded.
Dec 1992 Change in collection coverage Exclusion of a group of permanent building societies in liquidation.
Mar 1993 Change in collection coverage Several intra-group financiers removed from FCA Register of Corporations or exempted from application of the FCA.
Aug 1996 Change in collection coverage Authorised money market dealers no longer included; their accreditation was revoked on 9 August 1996.
Sep 1997 Change in collection coverage Transfer of approximately $5.2 billion of assets to the MMC category from another FCA category.
Jul 1998 Reporting change Change in accounting system of an MMC following a recent merger with another MMC.
    Introduction of a new off-balance sheet business reporting regime for AFIs.
Aug 1998 Reporting change Change in accounting system of an MMC following a merger.
    Introduction of a new off-balance sheet business reporting regime for AFIs.
Sep 1998 Reporting change Introduction of a new off-balance sheet business reporting regime for AFIs.
Sep 1999 Change in collection coverage Special Service Providers no longer registrable under the FCA.
Dec 1999 Change in collection coverage The threshold for inclusion was increased from assets of $5 million to assets of $50 million. This change reduced the total reported assets by the following approximate amounts:
credit unions: $3,050 million building societies: $140 million
money market corporations: $2,930 million finance companies: $490 million
general financiers: $330 million
pastoral finance companies: $160 million.
  Reporting change Credit unions and building societies use new forms to report data to APRA. Reclassification of housing lending formerly classified as personal and business lending.
Mar 2000 Reporting change Change in accounting system of an MMC.
Jun 2000 Reporting change Change in accounting system of an MMC.
Jul 2000 Reporting change Non-bank data reported as end-month, rather than average of last two end-month figures.
Aug 2000 Change in collection coverage Transfer of approximately $4.7 billion of assets and liabilities to the MMC category from another FCA category.
Jan 2001 Change in collection coverage Entry of four credit unions.
Feb 2001 Change in collection coverage Entry of new general financier.
May 2001 Change in collection coverage Entry of new FCA institutions.
Jun 2001 Change in collection coverage Transfer of approximately $1.8 billion of assets and liabilities between an MMC and a subsidiary.
    Entry of new general financiers.
Jul 2001 Change in collection coverage Entry of new general financiers.
    Transfer of approximately $1.8 billion of assets and liabilities between an MMC and a subsidiary.
Sep 2001 Change in collection coverage Entry of new FCA institutions.
Oct 2001 Reporting change Introduction of a new data reporting regime for credit unions and building societies.
Dec 2001 Change in collection coverage Entry of new FCA institutions.
Jan 2002 Change in collection coverage Breaks in series due to addition of reporting institutions, including building societies, credit unions and other non-bank reporting organisations. These breaks affect credit and charge card accounts, transactions, balances and limits, and debit card accounts, purchases and ATM cash withdrawals. Financial aggregates are not affected.
Apr 2002 Reclassification of assets and liabilities Reclassification of approximately $0.9 billion by an institution.
Sep 2002 Change in collection coverage Entry of new FCGFs.
  Reclassification of liabilities Reclassification of approximately $5 billion deposits by an MMC.
Nov 2002 Reclassification of assets Reclassification of approximately $6 billion of assets by institutions.
Jan 2003 Change in collection coverage Entry of new FCGFs.
  Transfer of assets Transfer of approximately $1 billion of loans between an MMC and a related entity.
Feb 2003 Change in collection coverage Entry of new FCGFs.
Mar 2003 Reclassification of assets Reclassification of $1.1 billion of assets by an FCGF.
Mar 2003 Change in collection coverage Entry of new FCGFs.
Apr 2003 Reporting change Introduction of a new data reporting regime for RFCs.
  Transfer of assets Transfer of approximately $0.7 billion between MMCs and related entities.
  Change in reporting Change in reporting of assets by non-bank reporting organisations of approximately $2.1 billion.
  Change in reporting Change in reporting of liabilities by non-bank reporting organisations of approximately $1.3 billion.
May 2003 Transfer of assets Transfer of approximately $0.4 billion between an FCGF and related entity.
Jun 2003 Transfer of assets Transfer of approximately $1.0 billion between MMCs and related entities.
Aug 2003 Transfer of assets Transfer of approximately $0.5 billion between MMCs and related entities.
Aug 2003 Change in collection coverage Entry of new FCGFs.
Oct 2003 Change in collection coverage Exit of a number of FCGFs.
  Transfer of assets Transfer of approximately $0.5 billion between FCGFs and related entities.
    Transfer of approximately $0.7 billion between MMCs and related entities.
Nov 2003 Reclassification of assets Reclassification of $0.4 billion by an MMC.
  Transfer of assets Transfer of approximately $1.5 billion between MMCs and related entities.
Mar 2004 Change in collection coverage Entry of a new FCGF.
    Exit of an MMC.
Aug 2004 Transfer of assets and liabilities Conversion of a number of RFCs to SCCIs. Financial aggregates are not affected.
Oct 2004 Transfer of assets Transfer of approximately $0.6 billion between an FCGF and a related entity.
Nov 2004 Reclassification of assets Reclassification of $1.0 billion by an MMC.
Dec 2004 Change in collection coverage Entry of a new FCGF.
Jan 2005 Change of items by an MMC Reporting change of approximately $1.8 billion of loans by an MMC.
Feb 2005 Reclassification of assets Reclassification of approximately $0.9 billion of deposits by an MMC.
Mar 2005 Transfer of assets Transfer of approximately $0.5 billion of loans between MMCs and related entities.
Apr 2005 Transfer of assets Transfer of approximately $0.4 billion of loans between MMCs and related entities.
May 2005 Transfer of assets Transfer of approximately $0.4 billion of loans between MMCs and related entities.
Jul 2005 Change in collection coverage Entry of new FCGFs.
Aug 2005 Change in collection coverage Entry of new FCGFs.
Dec 2005 Change in collection coverage Entry of a new FCGF.
Feb 2006 Change in collection coverage Entry of new FCGFs.
Apr 2006 Transfer of assets Transfer of approximately $0.4 billion of assets between an MMC and a related entity.
Jun 2006 Reclassification of liabilities Reclassification of approximately $1.0 billion of deposits by an MMC.
  Transfer of assets Transfer of approximately $0.8 billion of loans between an MMC and a related entity.
Jul 2006 Reporting change Changes to reporting forms due to incorporation of International Financial Reporting Standards (IFRS)
Aug 2006 Reclassification of assets Reclassification of approximately $2.7 billion of assets by an FCGF.
  Reclassification of liabilities Reclassification of approximately $2.3 billion of liabilities by an FCGF.
Sep 2006 Reclassification of assets Reclassification of approximately $0.5 billion of assets by an MMC.
Oct 2006 Change in collection coverage Entry of new FCGFs.
Nov 2006 Transfer of assets Reclassification of approximately $3.2 billion of assets by an MMC.
  Transfer of liabilities Transfer of approximately $1.7 billion of liabilities to an FCGF from a related entity.
Dec 2006 Change in collection coverage Entry of new FCGFs.
  Transfer of assets Transfer of approximately $0.5 billion of loans from an FCGF to another entity.

Previous Classifications and Other Abbreviations

.. Not applicable
ADI Authorised deposit-taking institution
AFIs All Financial Intermediaries
APRA Australian Prudential Regulation Authority
ARDB Australian Resources Development Bank
ATM Automated Teller Machine
B Banks
CDB Commonwealth Development Bank
CUBS Credit Unions and Building Societies
FC Finance companies
FCA Financial Corporations Act
FCGF Finance companies and general financiers
GF General Financiers
M3 Defined as M1 (currency plus bank current deposits from the private non-bank sector) plus all other authorised deposit-taking institution (ADI) deposits from the private non-ADI sector, plus certificates of deposit issued by banks, less ADI deposits held with one another
MMC Money Market Corporations
NBFIs Non-bank financial institutions
PBS Permanent Building Societies
PFC Pastoral Finance Companies
PIBA Primary Industry Bank of Australia
RFCs Registered Financial Corporations
SB Savings Banks
SCCI Specialist Credit Card Institution

Endnotes

More detailed explanation of the impact of breaks is contained in the ‘Technical Note: Series Breaks in Bank, NBFI and Financial Aggregates Tables’ in the Bulletin, December 1992. While all new banks are shown in Table (a), some smaller breaks are not listed in Tables (b) and (c). [*]

Date refers to the first month in which the institution reported as a bank. [**]

Other than the counterpart breaks associated with the conversion of NBFIs to banks and transfer of assets and liabilities from NBFIs to banks. [***]