RESERVE BANK RETURN

Press, Volume XCIX, Issue 29336, 15 October 1960, Page 11

RESERVE BANK RETURN

Sterling Down £3.5m Sterling and other exchange held by the Reserve Bank fell £3.5m to £50.9m last week. The decline reflects the seasonal fall in overseas reserves. Trading banks borrowed £3.7m to maintain their statutory minimum deposits with the bank. Net Government indebtedness to the bank rose £2.lm. Main items from the latest week's return, with the previous week’s figures, are as follows: Liabilities Oct. 12 Oct. 5 „ , £OOO £OOO Bank notes .. 80.988 80,551 Demand Liabilities—- ■ •• 7,496 9,979 Marketing 996 977 Trading banks .. 88.982 88,473 Other .. 1,608 1,497 Assets Reserves— Gold 315 315 Sterling exchange 50,727 54,017 Other exchange .. 195 410 Investments— Overseas .. 31,267 31.128 In N.Z. .. 71,308 71.308 Advances— State .. 12,127 12.478 Market org’ns, .. 12,924 14,357 Other .. 3,690 Other Assets— Gold .. .. 5,848 5,848 Other .. .. 1,289 1.083 Overseas Assets Decline New Zealand's overseas reserves fell below £loom in the week ended October 5. At that date net overseas assets of the banking system totalled £97.7m. This represents a drop of £2.5m in a week. The latest figure is £3 2m bdow the comparable 1959 figure.