RESERVE BANK

Press, Volume C, Issue 29554, 1 July 1961, Page 16

RESERVE BANK

Sharp Rise In Sterling Sterling and other exchange held by .he Reserve Bank rose £34m last week —the biggest rise in this item for many weeks The increase probably reflects a payment from the underwriters of the recent New Zealand Government loan in London The trading banks went further “into the red.” as their borrowings from the

Reserve Bank rose £v7m to £ 18.5 m. Trading banks' deposits were £2.3m higher at £739m. Borrowing by the State was £ll.lm lower at £5.3m. Main items from the latest week's return, with the previous week's figures, are as follows: Liabilities June 28 June 21 £<xm £ooo Bank notes .. 81,890 82,152

Demand Liabilities— State Marketing Trad. Banks .. Other 14.775 247 73,918 1,754 14.626 1,109 71,649 3.959 Assets Reserves— Gold 315 315 Stl exchange 13.394 10.459 Other ex. 588 140 Investments— Overseas 31.267 31.2th In N.Z. 71.312 71,312 Advances— State 5.305 16.497 Market org'ns. 32 936 34,497 Other 18.525 13,795 Other Assets— Gold 5.848 5 m Other 1,712 1.717