MONEY MARKET.
RESERVE BANK RETURN. STATE DEPOBITS LOWER. £42,687 RISE IN EXCHANGE. . (By Telegraph.—Press Association.) WELLINGTON, Thursday. The Reserve Bank return for the week eruled Monday, September 12, was gazetted %"iu VV, ' e Btatement is balanced at or £141,137 lew "than at the close or the previous week. (.ovei-i.ment deposit* show a further tall of tfOo,iso, following one ot £473 812 the previous week. The holdings of the iriidijHjr bunka have increased by £27«,775 this beiiiK a recovery after a full of more than £;jO0,«0O in the previous statement I lie note wsii.. is £76.397 lower than it was the week before'.
The value ot the sterling exchange reserve Iβ £42,687 holier than in the last previous etatement. Advances to the J rimary Produce Marketing Department are. £200,503 lower, while other aeeets nave increased by £17,848. The statement witli variations compared with the week before is as follower
Proportion of reserve to notes and other demand liabilities, 86,428 per cent (65 847 last Week). , Three Years Compared. The following table shows the position of the bank's funde at this date for tbe past three years (in thousands of potnide):
Principal Changes. Compared with a year ago note issue is nearly £700,000 higher, while State and bank deposits combined are over £4.300,000 lower.' On the assets side the chief movement is in sterling, which ie lower by jover £6,000,000. Compared with two years ago sterling funds have decreased by over £6.000,000, but ae a. partial set-off ie the item "Advance* to the Marketing l)ep<u-tmeiit,"s.at £3,338,806. TJiie-itemj it will be noted; ie oyef £450,000 tese than at this time last year. No detailed., information is available in regard to thit item advances for other purposes, which has risen sharply in recent weeks and nowVtatide at £3,050,000. Th£ proportion of reserves to notes and other demand liabilities ie over 27 . per cent leee than it wae two years ago.
LIABILITIES. Variation £ £ Ueneral resrrvp .. 1.500.000 Same J* ,1 " , ' 3.112.050 —405.355 , , |" Ilks «,2«7.227 +270,775 ' u,H ' r ->85.<if),S + 59.980 (Mhi-r rurreUfiPH .. i>431 4-7!M> .. 110.000 +~,H Tof "l 24.!M4,t71 —141,187 ASSETS. Rwwrve—■ ( j" Ill 1( 2.801.791 Same Storllnjr Rx. ... 12,(i81.34:{ +42.(!87 Suhsitlliiry coiu .. 2'J9 308 11111 Ailviinccs—. *■ ' Miirkt'ting 3.339.S50 —200 553 Other 3.050.000 Same InwutntMit 2,732,005 Same Othpr assets 70.808 +17.848 Total 24.914,171 —141,137
LIABILITIES. 193«. 1937. 1938. _ £ £ £ General reserve 1,500 1,500 1 500 Rank notes ... 11.042 12.i>44 18,028 Demand liabilities— State n.04<i 5,flO3 3 112 1{ ;"ik 0,2liS 8,108 (},2ti7 Other 13:j 7B3 o S(; Liabilities in currencli'8 other than N.Z. .. — <) Other linbilities »4 95 111 Total .... 24,048 20,013 24,1(14 ASSETS. Resprve— Oold 2.S02 2,802 2 802 StwIIng .... 18.84SI l.s.s.xi; lj.usi Sul>Kidiaty coin ISO Stii s^'.t Advances to State— MarkctliiK I><'i<t. 710 3.7!t!> 3.340 Other purpoaesi — 500 3,050 Investini'iirs . . 2.08«'> 2.0<M5 2,7."il' Other assets . . 60 7<; So T>tal 24,043 2!»,015 24,!tl4 Proportion reserve to notes and other dematid liuhilltles (V<:.) 93.03 7S.91 6C.42S
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Bibliographic details
Auckland Star, Volume LXIX, Issue 219, 16 September 1938, Page 6
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477MONEY MARKET. Auckland Star, Volume LXIX, Issue 219, 16 September 1938, Page 6
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