July trading bank figures static

Press, 27 August 1977, Page 19

July trading bank figures static

Trading bank statistics for -July show little variation [from June. Total liquid assets and total lending were much the same as they were a month earlier, while total credit limits had been reduced by S23M says a report from the office of the research director of the New Zealand Bankers Association. Deposits increased by SUM. and a heavy concentration of growth amongst the interest-bearing deposits continued. Non-interest-bearing deposits fell during the month and are no higher than last year. The statistics argue that interest rates are such as to (make interest-bearing deposits attractive at a time when seasonal factors create some

r] temporarily idle liquidity n available for interest-bearing j term deposits. The Budget, would have B(been too late in the month y to have affected these state'istics, but the banks were (making preparations to' J cover the September tax •[payments. e, Savings bank deposits v I showed an increase of S7M . in July, after an increase oi v. S9M in June. The increase.' -i are below those of the cort!responding months of 1976. sibut are better than growth (rates of S4M and SSM recorded during the summer e months. r The slow growth of savings deposits has affected t the ability of savings banks a to make funds available for - housing, although the peril centage of housing loans in e tcrtal lending is still rising.