RESERVE BANK
Effect Of Tax Payments State borrowing from the Reserve Bank fell £7.5m and State deposits* rose £0 6m in the week ended September 20 as tax payments due on September 7 flowed into the State coffers. In the three weeks from September 6, net Government indebtedness to the bank has fallen £16.3m. Last year net Government indebtedness ,to the bank fell £9.3m from the end of August to the end of September. Trading banks’ deposits again reflected the reduction in reserve . ratios, falling £7.9m to £54.7m, while trading banks’ borrowing from the Reserve Bank was £l.6m lower at £19.8m. Sterling and other exj change was £o.9m lower at £14.8m. Advances to marketing organisations rose £3.om. Main items from the latest week’s return, with the previous week’s figures, are as follows : Liabilities Sept. 20 Sept. 13
£000 £000 Bank notes 81.582 81.731 Demand Liabilities— State 15.772 15,216 Marketing 3.661 3.930 Tr. banks 54.652 62.552 Other 1.057 878 Assets Reserves— Gold 242 242 Sterling ex. 14.185 15.069 Other ex. 617 636 Investments— Overseas 25.825 25.825 In N.Z. 77.288 77,288 Advances— State 123 7 618 Market, org'ns. 25.661 22,647 Other 19,785 21,350 Other Assets .. 1.094 1,227 ■■■ "‘I II I
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Bibliographic details
Press, Volume C, Issue 29627, 25 September 1961, Page 16
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198RESERVE BANK Press, Volume C, Issue 29627, 25 September 1961, Page 16
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