RESERVE BANK RETURN

Press, Volume LXXXVII, Issue 26465, 5 July 1951, Page 8

RESERVE BANK RETURN

The rise in the Reserve Bank sterling funds was maintained last week, the res®rY,®„ June 27 being increased by £1.202,000 to £78,120,000. Since March 7 there has been an unbroken increase and the holdings at present are only about £500.000 below the level on August 20, 1948. when the New Zealand £ was restored to parity with sterling. Details as at the close of business on June 27, with the figures for the previous week in parenthesis, are as follows: Liabilities.—General reserve fund, £1,500,000 (same); bank notes, £59,804,000 (£59,307,000); demand liabilities: State, £11,589,000 (£10,194,000); banks, £73,894,000 (£73,694,000); other, £4,792,000 (£5,388,000); liabilities in currencies other than New Zealand currency, £116,000 (£50,000)other liabilities, £4,902,000 (£4,006,000). Total, £156,397,000 (£155,028,000). Assets.—Reserve: gold, £5,157,000 (£5,148,000); sterling exchange, £78,120,000 (£76,918,000); other exchange, £419,000 (£226,000); subsidiary coin, £486,000 (£482,000); discounts: commercial and agricultural bills. £476,000 (same); advances to State marketing organisations, £4,033,000 (£4,315.000); for other purposes, £50,000,000 (same); other, £6,019.000 (same); investments, £7,974,00 (same); other assets, £3,714,000 (£3,470,000); total £156,397,000 (£155,028,000).