TRADING BANKS’ RETURN
Demand Deposits Fall A fall in the demand ’deposits of the trading banks of New Zealand of £9.5m is shown in the banks’ return up to the end of December. At the end of November the total demand deposits were £ 234.1 m, but the latest figure is £224.6m. A fall of £ 10.3 m in the trading banks’ deposits with the Reserve Bank is also shown.
The total of available credit (advances and discounts plus the total of unexpired overdraft authorities) is £ 279.1 m, showing a rise of £4.om during the month of December. The volume in circulation in New Zealand at the end of December, £308.4m, was slightly lower than that of the end of the previous month, and considerably below the corresponding figure for a year ago.
Dec. Nov. Dec. £m £m £m 1958 1957 Demand deposits 224.6 234.1 241.6 Time deposits .. 46.6 44.7 42.4 Balance at R.B. 51J 61.5 42.4 Stat. min. dep. 51.2 55.2 54.5 T.B. borrowing 5.3 3J 6.2 Vol. of money 306.4 309.0 329.6 Advances* 169.3 162.8 177X) Unex. overdrafts 109.8 112.3 100.7 Net o’seas assets •Includes 16.6 12.2 discounts. 6.5
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Bibliographic details
Press, Volume XCVIII, Issue 28825, 20 February 1959, Page 13
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189TRADING BANKS’ RETURN Press, Volume XCVIII, Issue 28825, 20 February 1959, Page 13
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