RESERVE BANK
Sterling Up £lm
Sterling and other exchange held by toe Reserve Bank rose £o.9m last week. Gold and overseas investments were unchanged. State deposits fell £3 2m Trading banks’ deposits with the bank rose £!2.Bm and borrowing by the trading banks from the Reserve Bank rose £B.3m. Main items from the latest week’s return, with the previous week s figures, are as follows : Liabilities Apr. 11 A or. 4 £OOO £OOO Bank notes . . 82.925 82,883
N.Z. Reserves Down £2.lm (N.Z. Press Association) WELLINGTON. April 13. Net overseas assets of the New Zealand banking system on April 4. 1962, were £ 54.7 m, compared with £ 56.8 m on March 28 and £51.1m on April 5. 1951. These figures were announced today by the Reserve Bank. Reserve Ratios Increased (N.Z. Press Association) WELLINGTON. April 13. Reserve ratios for balances held by trading banks with the Reserve Bank were increased by a Gazette notice last night with effect from today. Demand liabilities are increased from 21 per cent, to 24 per cent. Time liabilities are unchanged at 10 per cent.
North Broken Hill —"On the experience of the first nine months of this financial year and on the assumption that pres, ent conditions will continue, it is expected that the surplus for the year will be £603,000 (£1.020.000 last year), of which about £345.000 (£577,000) will be net investment income. Approximately £150,000 will remain unexpended during the current year from the 1960-61 appropriation for plant and development. The company will receive shares in Broken Hill South. Ltd., to the value of £26.000, subject to tax for the sale of the BritishJunction leases which is not included in the above figures.”— N.Z.P.A.
Demand Liabilities— State 24.563 27 723 Marketing 3.254 3*258 Tr. banks .. 46.253 34.503 Other 1.240 916 Assets Reserves— Gold 242 242 Sterl. ex ch. 22.152 21.025 Other exch. 496 587 Investments— Overseas 16.442 16,442 In N.Z. 71.670 71.174 Advances— State 95 71 Makt. orgns. 46.044 46.947 Other 11.310 2.985 Other assets 1.743 1.879
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Bibliographic details
Press, Volume CI, Issue 29798, 14 April 1962, Page 16
Word Count
332RESERVE BANK Press, Volume CI, Issue 29798, 14 April 1962, Page 16
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