RESERVE BANK

Press, Volume CII, Issue 30155, 12 June 1963, Page 20

RESERVE BANK

Trading Banks “Out Of Red” The trading banks came "out of the red’’ with the Reserve Bank last week. The previous week one or more of the banks had to borrow £l.7m, at tbe penal rate, to maintain statutory minimum deposits with the bank, but this sum was repaid last week. The banks’ actual deposits with the bank were reduced by £l.6m to £71.7m. Net Government indebtedness to the bank rose £3.2m. Marketing organisations reduced their net indebtedness by £l.2m Sterling and other exchange was steady at £s3m. Mam items from the latesi •week’s return, with the previous week’s figures are as follows:

Liabilities June 5 May 29 £000 £000 Bank notes 82,668 82,197 Demand Liabilities — State 19,146 22.335 Marketing 2,156 2.149 Tr. banks 71,676 73,299 Other 2,494 1,563 Assets Reserves— Gold 244 244 Sterling ex. .. 52.439 52,366 Other ex. 536 511 Investments— Overseas 20,786 20,786 In N.Z. 69,717 70,071 Advances— State 108 120 Market, org’ns. 43,155 44.322 Other — 1,685 Other assets 2,357 2,521