Margin loan account numbers tumble
One segment of the debt market that has not received a boost from low rates is margin lending. The number of margin loan accounts fell by 2.8 per cent in the June 2016 quarter and is down almost five per cent on the June quarter last year.According to the latest Reserve Bank of Australia margin lending data, the number of margin loans accounts fell from 141,000 in the March quarter to 137,000 in the June quarter. Account numbers are at their lowest level since March 2005.Loan balances fell from A$11.83 billion in the March quarter to $11.82 billion in the June quarter. Balances are down 4.8 per cent from $12.4 billion in the June quarter last year.Margin calls fell from 1.11 per 1000 clients per day in the March quarter to 0.67 per 1000 clients per day in the latest period.