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RESERVE BANK OF AUSTRALIA

Financial Stability Review – March 2011

List of tables

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Chapters

Table 2.1: Major Banks' Latest Half-yearly Profit Results

Table 2.2: Assets of Domestic Funds Management Institutions

Table 3.1: Unlisted Loss-makers

Boxes

Table B1: Largest Domestic Reinsurers

Table C1: Household Debt and Income Experience

Table 2.1: Major Banks' Latest Half-yearly Profit Results(a) Consolidated global operations
  2009
$ billion
2010
$ billion
Change
$ billion
(a) Half-year to September for ANZ, NAB and Westpac; half-year to December for CBA
(b) Excludes a one-off tax reassessment on the major banks' New Zealand operations which lowered actual profit to $5.6 billion
Sources: RBA; banks' annual and interim reports
Income
Net interest income 23.5 23.8 0.3
Non-interest income 9.8 11.0 1.2
Expenses
Operating expenses 15.3 16.5 1.2
Bad and doubtful debts 6.7 3.1 −3.6
Profit
Net profit before tax 10.9 15.0 4.1
Net profit after tax and minority interests 7.6(b) 11.2 3.7
Table 2.2: Assets of Domestic Funds Management Institutions(a) December 2010
  Six-month-ended
annualised change
  Level
$ billion
Share of total
Per cent
Jun 10
Per cent
Dec 10
Per cent
(a) Excluding funds sourced from overseas, government, other trusts, general insurance and ‘other’ sources
(b) Includes non-financial assets
(c) Includes superannuation funds held in statutory funds of life insurers
(d) Cash management trusts, common funds and friendly societies
(e) Superannuation funds plus an estimate of the superannuation assets held in the statutory funds of life insurers
Sources: ABS; RBA
Superannuation funds (consolidated) 947 67 2.1 15.5
Superannuation funds (unconsolidated) 1,110   1.6 17.2
of which:        
Equities 365 33 −7.3 34.3
Assets overseas 180 16 0.3 10.5
Units in trust 177 16 −4.4 25.7
Cash and deposits 160 14 12.7 13.5
Land and buildings 79 7 14.0 10.3
Short-term securities 54 5 −0.9 −8.3
Long-term securities 52 5 16.6 −9.8
Loans and placements 11 1 8.6 10.9
Other assets in Australia(b) 33 3 42.9 −12.5
Life insurers (consolidated)(c) 187 13 −8.3 10.6
Public unit trusts (consolidated) 251 18 −1.8 −1.7
Public unit trusts (unconsolidated) 286   −0.1 0.6
of which:        
Listed property trusts 121 42 1.2 3.6
Unlisted equity trusts 97 34 2.3 5.3
Listed equity trusts 39 14 −5.3 −8.1
Other trusts 30 10 −5.1 −12.4
Other managed funds (consolidated)(d) 38 3 −11.2 −39.9
Total (consolidated) 1,423 100 −0.6 9.3
of which:        
All superannuation assets(e) 1,113   0.3 14.7
Table 3.1: Unlisted Loss-makers(a) Per cent
  2005 2006 2007 2008 2009 2010
(a) Share of firms with negative net profit after tax in the year
Sources: Dun & Bradstreet (Australia); RBA
By size (total assets)
Less than $1 million 23 26 27 27 36 37
$1 million to $10 million 21 18 21 22 26 22
$10 million to $100 million 18 18 18 18 22 18
$100 million or greater 18 17 17 17 22 14
By industry
Agriculture, forestry & fishing 26 36 30 32 35 35
Utilities 18 23 27 23 29 18
Manufacturing 18 18 19 18 23 18
Mining 46 39 41 43 41 34
Rental, hiring & real estate services 21 19 22 21 33 18
Services 23 22 23 25 29 24
Wholesale & retail trade 15 15 15 13 18 14
Construction, transport & other 16 11 12 10 17 13
Total 21 19 20 20 25 20
Table B1: Largest Domestic Reinsurers
  Global net premium revenue(a) Standard & Poor's credit rating
  Total
$ billion
Share earned in Australia
Per cent
(a) For the year ending December 2010; includes direct insurance and reinsurance premiums
(b) Share based on gross premium revenue
(c) Credit ratings are for the Australian insurance operations
Sources: RBA; Standard & Poor's; insurers' annual and interim reports
Munich Re 56.3 2.4(b) AA−
Swiss Re 19.3 5.7 A+
Memo: largest domestic insurers(c)
QBE 11.2 26.7 A+
IAG 7.1 78.7 AA−
Suncorp 6.4 90.7(b) A+
Table C1: Household Debt and Income Experience 2008 to 2009, per cent of respondents
  All households No income
fall or labour
market shock(a)
Income fell(a) Labour market shock
(a) Fall of $20 or more in gross weekly income derived from wages and salaries
(b) Does not sum to 100
Source: HILDA Release 9.0
All households(b) 100.0 68.0 26.7 11.2
Per cent with debt 37.0 32.8 48.1 44.7
of which:(b)        
Reduced total repayment 54.0 54.2 52.6 58.8
Ahead of schedule 57.6 58.0 60.3 62.0
Improved payment position 18.3 17.4 19.7 15.2
DSR>50 per cent 8.8 10.0 6.0 3.4