RESERVE BANK

Dominion, Volume 30, Issue 130, 26 February 1937, Page 14

RESERVE BANK

Sterling Exchange Increases

DAIRY ADVANCES HIGHER The weekly statement of assets aud liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, February 22, is as follows: — LIABILITIES. £ s. d. 1. General Res. fund 1,500,000 0 0 2. Bank notes 12,752,049 0 0 3. Demand liabilities—(a) State 6,351,439 17 7 (b) Banks 11,741,264 11 1 (c) Other 233,977 10 5 4. Time deposits .... 5. Liabilities in currencies other than New Zealand currency —“ 6. Other liabilities . . 144,074 10 2 £32,723,705 9 3 ASSETS. £ s. d. 7. Reserve — „ „ (a) Gold 2,501,790 0 0 (b) Sterling exchange 18,804,394 6 9 (c) Gold exchange —— S. Subsidiary coin .. 158,172 18 2 9. Discounts — (a) Commercial & Agricultural Bills (b) Treasury and Local Body Bills 10. Advances —: (a) To the State or State undertakings— (l) Dairy Industry Account .. 6,569,249 13 9 (2) For other purposes 1,800,000 O O (b) To other Public Authorities . (c) Other —y . 11. Investments .... 2,453,050 0 0 12. Bank buildings .. H „y7TJ ~ 13. Other assets .... 137,048 10 i £32,723,705 9 3 Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 69.518 per cent., compared with GS.oOI per cent, on February 15. . A further reduction of £ll <,840 in the note issue has brought the total down to £12,752,949. Demand liabilities to the State at £6,351,440, show an increase of £442,687. The trading banks' reserve balances amount to £11,741,264, an increase of £265,468. Other demand liabilities at £233,977 show a decrease of £594,579. Other liabilities total £144,074, a small increase of £2SI. On the assets side sterling exchange amounts to £18,804,394, an increase of £313,382. Gold remains unchanged at £2.801,790. Subsidiary coin at £158,173 shows a decrease of £lOB5. Advances to the State dairy industry account total £6,569,250, an increase of £196,861. Advances to the State for other purposes remain unchanged at £1,800,000. Investments still stand at £2,453,050. Other assets total £137,048, a decrease of The statement balances at £32,723,705, a decrease of £3982.