RESERVE BANK

Dominion, Volume 31, Issue 71, 17 December 1937, Page 14

RESERVE BANK

Note Issue At High Level FURTHER ADVANCES TO STATE The weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, December 13, is as follows: — LIABILITIES.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 72.563 per cent., compared with 73.89 per cent, on December 6. There are several interesting features in the latest return. The note issue has advanced by another 409,972, an increase of over £1,000,000 in a fortnight. The total is now £14,374,315, which is nearly £1,500,000 higher than a year ago. Demand liabilities to the State total £4,902,074, an increase of £104,308. The trading banks’ 1 reserve balances amount to £6,486,431, an increase of £249,126. Other demand liabilities at £759,265 show an increase of £62,837. Other liabilities total £163,078, an increase of £5749. Sterling exchange at £16,443,588 shows an increase of £258,661. Gold remains unchanged at £2,801,791. Subsidiary coin at £162,336 i s lower by £621. Advances to the State dairy industry account total £5,040,592, an increase of £352,609. Advances to the State for other purposes have increased by £200,000, and now amount to £900,000. Other advances 'are unchanged at £lOO,OOO. Investments at £2,658,325 show no change. Other assets total £78,530, an increase of £21,344. The statement balances at £28,185,163, an increase of £831,993.

£ s. d. J. General reserve fund 1,500,000 0 0 2. Bank notes 14,374,315 10 0 3. Demand Liabilities — (a) State 4,902,074 0 9 (b) Banks 0,486,430 14 11 (c) Other <59,264 12 7 4. Time deposits .... — 5. Liabilities in curreneies other than N.Z. currency — 6. Other liabilities .. 163,077 18 9 . £28,185,162 17 0 ASSETS. 7. Reserve — f d. (a) Gold 2,801,791 0 0 < b) Sterling exchange 16,443,588 6 2 (ci Gold exchange . . —- 8. Subsidiary coin . . 162,335 16 8 9. Discounts— (a) Commercial and Agricultural Bills — (b) Treasury /nd Local Body Bills — 10. Advances — (a) To the State or State undertakings— (1) Dairy Industry Account 5,040,592 11 o (2) For other purposes .. 900,000 0 0 (b) To other public authorities — (c) Other 100,000 0 0 11. Investments .... 2,658,325 0 0 12. Bank Buildings .. — 13. Other assets .... 78,530 3 0 £28,185,162 17 0