Queensland Treasury Corporation (QTC) became the latest of Australia's semi-government funding agencies to release its mid-year update, on December 19, revealing a A$1 billion (US$883.4 million) decline in its expected task for the current year. The reduction, to A$6.1 billion of expected term funding, is based on "better operating performance in the general government sector, lower borrowing requirements across government and use of surplus liquidity".