Margin loan balances up, but account numbers down
Margin loan balances rose for the first time in six years in the March quarter, although not as much as lenders would have hoped, given the strong conditions in the equity market this year.According to Reserve Bank figures released yesterday, total margin loan balances rose from A$12.2 billion in the December quarter to $12.5 per cent in the March quarter - an increase of 2.5 per cent.At their peak, in December 2007, margin loan accounts were worth $41.6 billion.While balances were up, client account numbers fell - down from 182,000 in the December quarter to 179,000 in the March quarter.The average number of margin calls fell from 0.64 per 1000 clients per day in December to 0.58 per 1000 clients per day.Margin calls reached a peak of 8.6 per 1000 clients per day in December 2008.