THE MONEY MARKET

Dominion, Volume 30, Issue 154, 27 March 1937, Page 12

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION HIGHER London. March 25. The Bank of England return for the week ended March 21 is as follows: Issue Department.

Bank and Market Kates. The Bank of England rate of discount is 2 per cent., to which it was reduced from 21 per cent, on June 30, 1932. Discount anil short-loan interest rates are: Day-to-day loans. 4 per cent.: fine trade bills, three months, 2 to 21 per cent.: bank bills, three months, 9-16 per cent.; Treasury bills, six months, 5-8 per cent : Treasury bills, three months, S to 9-16 per cent. New York, March 24. Call money is quoted at 1 per cent.

Notes issued : In circulation 470,500,000 In banking dept. 43.100.000 Govt, debt 11,060,060 Other Govt. securities 187,200,060 other securities 1,800,000 *£200,000,000 Gold coin & bullion 313,600.000 £513,600,000 ‘Amount of fiduciary issue. Banking- Department. Capital ... 11.50(1.000 Rest 3.700,000 Deposits: Public ... 27.900,000 Bankers . 82.000.000 Other a./es 37.000.000 Govt, securities ... 94,500,000 Discts., advances .. 4,SOO,000 other securities .... 22,300,000 Notes and coin .... 44,100,000 £ 165,700,000 £105,700.000 Proportion of reserve to liabilities. 29 90 per cent.ii compared with 32.97 per centrist week. 'i’lie principal items of the above return compare as follows with those of last week Mar. 17. Mar. 24. £ £ Deposits Public . . 22.800.000 27.900.0oo Bankers Other accounts .. 14,0611,000 82,000,000 37,300,000 37,600,001) £1 Securities: — Government Discts., advances Other securities .. 54,100,000 £147.500,000 94,900,01X1 94,500,000 3,700,000 4,800,000 22,900.000 22,300,000 50,SOO,000 44,100,000 63.800,000 470,500,000 13,600.000 313,600.000 Note circulation .. ■ Gold coin & bullion 3