RESERVE BANK
Trading Banks Borrow £s.Bm
The increase in the reserve ratios on July 15 put the trading banks £s.Bm “in the red’* with the Reserve Bank last week. On July 15 the statutory minimum deposits were raised from 27 per cent, of demand liabilities plus 10 per cent, of time liabilities to 30 per cen‘. and 10 per cent, respectively. On July 10 the Reserve Bank’s “other” advances (which include and advances made by the bank to trading banks to enable them to maintain their statutory deposits) were nil; by July 17 they had risen to £s.Bm. The banks’ deposits with the Reserve Bank rose £ 10.7 m last week. The Reserve Bank said last week that the increase signified a “moderate tightening of credit policy.” Main items from the latest week’s return, with the previous week’s figures, are as follows:
Liabilities Bank notes July 17 £000 80.976 July 10 £000 81,094 Demand Liabilities— State 16.670 18,652 Marketing 1.099 848 Trdg. banks 81,776 71,067 Other 6.278 2,754 Assets Reserves— Gold 244 244 Sterling exch. 91,564 82,452 Other exch. 761 626 Investments— Overseas 20.786 20,786 In N.Z. 70,204 70,762 Advances— State #214 197 Market, orgns. 34,645 35,880 Other 5,840 Other assets .. 1,638 1,468
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Bibliographic details
Press, Volume CII, Issue 30190, 23 July 1963, Page 19
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202RESERVE BANK Press, Volume CII, Issue 30190, 23 July 1963, Page 19
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