Trading bank statistics

Press, 21 April 1986, Page 28

Trading bank statistics

PA Wellington Total deposits at trading banks increased by 29.3 per cent over the year to March, down on the 34.4 per cent increase recorded over the year to February, the Reserve Bank said.

Growth in total lending by trading banks in the year to March was 17.5 per cent, down on the increase of 20.4 per cent recorded in the February year. In seasonally adjusted terms, deposits increased in March by 2.7 per cent, compared with an increase of 1.9 per cent recorded in February.

Seasonally adjusted lending increased by 1.5 per cent during March, compared with 2.5 per cent in February. Trading bank total credit limits increased by 0.3 per cent in seasonally adjusted terms during February.

New and increased limits rose 28.7 per cent in seasonally adjusted terms over the month, reversing the trend of the previous two months. The utilisation ratio increased to 71.8 per cent in February, from 69.1 per cent in January 1986. New mortgage registrations

totalled S42IM in December. The weighted average interest rate increased slightly to 17.5 per cent. Overseas exchange transactions for February recorded a current account surplus of SS7M compared with a deficit of $269M in Feburary 1985. For the year to February, 1986, the current account deficit fell to $2,215M from $2,381M recorded in the year to February, 1985.

Official overseas reserves decreased by SI7BM in February and stood at $2,850M at the end of the month. The Reserve Bank said it should be noted that the overeas exchange transaction statistics are only broadly indicative of trends in the external accounts. This has particularly been the case since the removal of exchange controls in December, 1984.