FALL IN STERLING

Auckland Star, Volume LXXIII, Issue 113, 15 May 1942, Page 2

FALL IN STERLING

RESERVE BANK STATEMENT (P.A.) WELLINGTON, Thursday. Assets and liabilities of the Reserve Bank at the close of business on Monday, May 11, were as follows:— LIABILITIES Variation £ £ General reserve 1.500.000 Same Bank notes 24,322,122 +38.195 Demand liabilities— State 11.599.330 +23.993 Banks 21,544.938 +316.785 Other 2,079,807 +1.799.046 Other currencies 32.818 +14.023 Other liabilities 1,423.647 +9.389 Total 62,502,672 +2,196,381 ASSETS Reserve— Gold 2.801.877 Same Sterling ex 21,238,845 —094.840 Subsidiary coin 53,036 —872 Marketing 11.180.122 +2.714.346 Other 22,200.000 Same Investment 4,146.228 Same Other assets 882,564 +77.747 Total 62,502,672 +2,196,381 Proportion of reserve to notes and other demand liabilities, 40.318 per cent (42.006 last week). Three Years Compared The following table shows the position of the bank's funds at this date for the past three years (in thousands of pounds): 1940 1941 1942 Bank Notes 17,859 21.637 24.322 D Zl S lt~. 6.374 7.723 11.599 Banks 15,212 13,546 21.545 Exchange 13,329 21,033 21,239 3.440 3.652 11.180 Other 19.460 1 3 - 500 22 ' 200 Ratio (p.C.) 40.752 54.557 40.318