THE MONEY MARKET

Dominion, Volume 29, Issue 139, 7 March 1936, Page 12

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION HIGHER London. Marell 5. The Bank of England return for the week ended March 4 is as follows: — Issue Department.

Proportion of reserve Io liabilities, 38.44 per cent., compared with 40,85 per cent, last week. The principal items of the above return compare as follow .with those of last

Bank and Market Bates. The Bank of England rate of discount is 2 per cent., to which it was reduced from 2} per cent, on June 30, 1032. Discount and short-loan interest- rates are: Day to day loans, 3-8 per cent.; tine trade bills, three months, 2 to 2} per cent.; bank bills, three months, 9-10 per cent.; bank bills, six months, 5-8 per cent.; Treasury bills, two months, i per ctent.: Treasury bills, three months, i per cent.

£ £ Notos issued: In circulation 404.000,000 In banking dept. 50,000,000 Govt, debt 11,000,000 Ollier Govt. securities 244,900,000 Other securities 3,000,000 Silver coin 1,100,000 *£260,000,000 Gold coin & bullion 200,600,000 £400,000,000 £ 400,000,000 •Amount ot fiduciary issue. Banking Department. £ Capital 14.500,000 Best 3,700,000 Deposits: Public 7.000,000 Bankers 104,500,0(H) Other a/es 30,700,000 Govt. securities 83,400,000 Disets. advances 11,000,000 Other ■ securities 14,700.000 Notes and coin 57,300,000 £107,300,000 £167,300,000

week: — Feb. 20. Mar. 4. Deposits: £ £ 8,SOO,000 7,900.000 Bankers 100.200.000 104,500,000 Other accounts . 35,500,000 30,700,000 £150,500,000 £149,100,000 Securities: 83.400,000 Government 82,100,000 Dlscts., advances 11,000,000 11,900,000 Other securities 14,100.000 14,700,000 Reserve ill,500,(Kit) 57,300,000 Note circulation .. 399,900,000 200,000,000 404,000,000 Gold coin & bullion 200,000,000