THE MONEY MARKET

Dominion, Volume 31, Issue 142, 12 March 1938, Page 14

THE MONEY MARKET

Bank of England Return NOTE CIRCULATION RISING By Telegraph.—Press Assn. —Copyright. London, March 10. The Bank of England return for the week ended March 9, is as follows :— Issue Department.

Bank and Market Rates. London, Marell. 9. The Bank of England rate of discount is 2 per cent., to which it was reduced from 2} per cent, on June 30, 1932. Discount and short-loan interest rates are quoted an follows: —Day-to-day loans 4 per cent.; line trade bills, three months, 2 to 24 per cent.; bank bills, three months, 9-16 per cent.; six months, 9-16 per cent.; Treasury bills, two months, 4 per cent.; three months, i per cent. Now York, March 9. Call money is quoted unchanged at. 1 per cent.

Noted issued: £ £ In circu- Govt. debt. 11,000,000 lation 479,300,000 Other Govt. In bank- securities 169,000,000 inff dept. 47,100.000 Other securities — *£200,000,000 Gohl coin & bullion 326,400,000 £320,400,000 £520,400,000 ♦Amount of fiduciary issue. Banking Department. (• 4* Capital 14,500,000 Govt, scRest 3,700.000 curlties 105,200,000 Deposits: Dlscts., Public 12,600,000 advances 6,GOO,000 Bankers 111,300,000 Other seOther entitles 21,500,000 a/es. 30,100,000 Notes & coin 47,900,000 £181,200,000 £181,200,000 Proportion of reserve to liabilities, 29.44 per cent., compared with 29.92 per cent. last week. The principal items of the above return compare as follows with those of the previous week:— .Mar. 2. .Mar. 9. Deposits: £ £ Public 11,400.000 12,600,000 Bankers 115,700,000 114,300,000 Other accounts 36,000,000 36,100,000 ' £163,100,000 £163,000,000 Securities: Government ... 104,400,000 105,200,OCX) bisets., advances . 7,000,00*1 6,600,000 Other securities 21,000,000 21,500,000 lieserve 48,900,000 47,900,000 Note circulation . 478,300,000 179,300,000 Gold coin and bullion 326,400,000 326,400,000