THE MONEY MARKET

Dominion, Volume 30, Issue 190, 8 May 1937, Page 14

THE MONEY MARKET

Bank of England Return RECORD NOTE CIRCULATION By Telegraph.—Press Assn. —Copyright. London. May 6. The Bank of England return for the week ended May 5 is as follows: — Issue Department.

Bank and Market Rates. The Bank of England rate of discount is 2 per cent., to which it was reduced from 2k per cent, on .Tune 30, 1932. Discount and short-loan interest rates are unchanged as follows:—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, I to 9-16 per cent. New York, April 28. Call money is quoted unchanged at 1 per cent.

Notes issued: In circulation 475,200,000 In banking dept. 38,500.000 Govt, debt 11,000,000 Other Govt. securities 184,100,000 Other securities 4,900,000 •£200,000,000 Gold coin & bullion 313,700,000 £513.700,000 . £513,700,000 •Amount of liduciary issue. Banking Department. Capital 14,500.000 Rest. 3,200,000 Deposits: Public JU,400.000 Bankers 97,200,000 Other a/cs 37,700,000 £ Govt, securities 103,100,000 Discts., advances 5,500,000 Other securities 21,000,000 Notes and coin 39,400,000 £ 169,000,000 £169,000,000 Proportion of reserve to liabilities, 26.08 per cent., compared with 29.91 per cent, last week. The principal items or' the above return compare as follows with those of last week April 28. May 5. Deposits: Public Bankers Other accounts .. £ £ 26.200.000 16.400,000 87.600,000 97,200 000 39,600,000 37,700,000 £153/90,000 £151,300.000 Securities: . _ _ Government .... 97,700.000 103,100,000 Discts., advances . 5,500,000 5,500.000 Other securities . 22,000,000 21,000,000 Reserve 45,900,000 39,400.000 Note circulation .. 468.800.000 475,200.000 Gold coin & bullion 313,700;000 <313,700.000