ADVANCES BY BANKS

Press, Volume CVI, Issue 31086, 15 June 1966, Page 23

ADVANCES BY BANKS

Further Fall In May

Trading bank advances fell a further £Bm in May from the seasonal peak associated with tax payments in March. The dedine in advances during April and May has totalled £17.5m, according to the New Zealand Bankers' Association research directorate. Total credit limits at the end of May were steady on a month earlier, but down £7m on a year ago.

Also in line with usual seasonal movements at this time of the year trading bank deposits rose during May. Deposits bearing interest were £o.2m higher and those not bearing interest rose £3.9m. These movements resulted in a seasonal improvement in trading bank liquidity. Balances at the Reserve Bank stood at £20.5m at the end of May—£l3.3m above the level at the end of April. Al,‘hough the recovery in bank liquidity during May was up to expectations the level remains well below that of a year ago when Reserve Bank balances totalled £34.5m. Acceptance Is 100 Per Cent (N.Z. Press Association) BLENHEIM, June 14. A 100 per cent acceptance by Marlborough Transport shareholders of the offer by Transport (Nelson) Holdings for shares, ordinary and preference, in the Blenheim-based transport concern was announced today by the chairman of Transport Nelson, Mr J. Newman. The change will be dated as from April 1.