RESERVE BANK
£0 2m Rise In Sterling Sterling and other exchange held by the Reserve Bank rose £L2m to £ 14.5 m in the week ended October 4. Holdings of gold and overseas investment* were unchanged. Trading banks’ deposits with the Reserve Bank fell £7.3m and their borrowing from the bank was reduced by £7.9m to £ 16.6 m. The Prime Minister (Mr Holyoake) announced on Thursday that the Government intended reserve ratios to be altered so as to increase trading banks* borrowing to £2ftm. Main items from the latest week’s return, with the previous week’s figures are as follows:
Liabilities Sep. 27 £000 Oet.4 £000 Bank notes 81.730 81.447 Dem and Liabilities— State 15.287 17,518 Marketing .. Tr. banks 3,365 43.578 3.444 55,907 Other 1,297 832 Assets Reserves— Gold 242 242 Sterling exch. 14,055 13,543 Other exch. 420 773 Investments— - Overseas ■. 25.825 25,825 In N.Z. . .. 77.288 77.288 Advances— State 169 97 Market, org’ns 23.371 23,972 Other 16,550 24,445 Other Assets .. 1.037 1,109
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Bibliographic details
Press, Volume C, Issue 29638, 7 October 1961, Page 16
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160RESERVE BANK Press, Volume C, Issue 29638, 7 October 1961, Page 16
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