BANK RATIOS RAISED
£5.5m Increase In Deposits
Statutory deposits of the trading banks have been increased with effect from yesterday. A Gazette notice advises an increase from 30 per cent of demand liabilities and 10 pe-' cent of time liabilities to 32 per cent, and 10 per cent respectively in the minimum deposits This will increase by some £5.5m the amount the banks are required to deposit with the Reserve Bank On July 18 the trading banks' actual deposits with the Reserve Bank totalled £77 Im and their borrowings from the bank totalled £3.2m
The research directorate of the New Zealand Bankers' Association, commenting on the reduction in overdrafts in June, said this week: "Since the banks are not now being compelled to borrow so heavily from the Reserve Bank it must be presumed that the Government is reasonably satisfied with this level of bank lending.”
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Press, Volume CI, Issue 29880, 21 July 1962, Page 16
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146BANK RATIOS RAISED Press, Volume CI, Issue 29880, 21 July 1962, Page 16
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