THE MONEY MARKET

Dominion, Volume 31, Issue 154, 26 March 1938, Page 14

THE MONEY MARKET

Bank Of England Return CHANGES IN DEPOSITS Bv Telegraph—Press Assn.—Copyright. London, March 24. The Bank of England return for the week ended March 23 is as follows

Bank and Market Bates. London, March 23. The Bank of England rate of discount is 2 per cent., to which it was reduced from 24 per cent, on June 30, 1932. Discount and short-loan interest rates are quoted as follows:—Day-to-day loans 1 per cent.; fine trade bills, three months,> 2to 24 per'cent.; bank bills, three months, 9-16 per cent.; six months, 5-8 per cent.; Treasury bills, two months, £ per cent.; three months, $ per cent. Now York, March 23. Call money is quoted unchanged at 1 per cent.

Issue Department. £ & Notes issued : Govt, debt 11,000,000 In circu- Other Govt. iation 479,500,000 securities 188,200,000 lu bank- Other secuing dept. 46,000,000 rities 800,00° ♦£200,000,000 Gold coin & bullion 320,400,000 £526,400,000 £526,400,000 •Amount of fiduciary issue. Banking Department. £ Capiutal 14,500,000 Govt, secuBest 3,700,000 rities lOo.lOO.OOO Deposits: Discts., adPublic 15,600,000 vances 6,600,000 Bankers 100,100,000 OthersecuOthera/cs 36,700,000 rities 20,100,000 Notes and coin 47,800,000 £170,600,000 £179,600,000 Proportion of reserve to liabilities, 29,62 per cent., compared with 28.80 per cent, last "tIio principal items of the above return compare as follows with those of the previous week:- Marchlc . March 23. ’public 3 ' 11,100,009 15,600,000 Bankers 119,100,000 109,100,000 Other accounts ... 35,700,000 30,700,000 £165,900,000 £161,400,000 Government 112.200,000 105,100,060 Discts., advances . 3,700,000 6,600,000 Other securities . 29,500,000 20,100,000 Keserve 47,700,000 47,800,000 Note circulation ... 479,500,000 479,500,000 Gold coin & bullion 326,400,000 326,400,000