RESERVE BANK RETURNS

Press, Volume LXXXVI, Issue 26127, 1 June 1950, Page 6

RESERVE BANK RETURNS

FURTHER GAIN IN STERLING FUNDS

The Reserve Bank returns for the week ending May 24 disclose that the increase in sterling funds continues to be maintained, the gain over the week being £2,179,000. Twelve months ago the fund stood at almost the same figure, £58.300.389. The gold reserve recorded a slight increase to reach £4,176,872 —a year ago it was £2,897,931 The proportion of reserve to notes and other demand liabilities. which has shown a steady increase during recent weeks, is now 42.008 per cent., compared with 45.553 per cent, a year ago. Figures in detail, with the previous week’s returns in parenthesis, are as follows ; Liabilities.—General reserve fund, £1,500.000 (same); bank notes. £53,867,637 (£54,263.000); demand liabilities: State, £11,872.130 (£11,614,000): banks. £83.432.225 (£80,075,000); other liabilities, £1,013,631 (£5,176,000); liabilities in currencies other than New Zealand currency, £38.577 (£31,000); other liabilities, £5,185.829 (£5,176,000). Total liabilities: £ (N.Z.)156,910,029 (£153,581,000). Assets.—Gold, £4,176,872 (£4,171,000); sterling exchange (New Zealand currency), £58.952,307 (£56,773.000); subsidiary coin, £208,996 (£232,000); advances to State marketing organisations. £6.493.015 (£5,140,000); for other purposes, £53,000,000 (same); other advances, £5,291,378 (£5,279,000); investments. £27.658,142 (same); other assets, £1,129,319 (£1,329,000). Total assets: £ (N.Z.) 156,910,029 (£153,581,000). Proportion of reserve to notes and other demand liabilities, 42.008 per cent. (41.472 per cent.).