RESERVE BANK

Dominion, Volume 34, Issue 126, 21 February 1941, Page 3

RESERVE BANK

Increase In Sterling 1’ unds ssvsrassi t? " £ day ,i»«i «ii®. 1 , 52 . 1 , 51 -- crease lor the week ol 14b- -4b. J->e banks’ net overseas assets, at showed an increase of £4JO,uJ2. Lhe note issue totalled £21,403,4 <3, a furt 1 crease of £65,630. Advances to the State Marketing Department at. t-,b<><),!• > have decreased by £148,379, while advances to the State for other purposes remain unchanged at £23.690,000. The statement of assets ami liabilities a« at the close of business on Jlondaj. February 17. is as follows. ■

Proportion of reserve (No. < less Ao. 5) to notes and other demand liabilities, 39.514 per cent., compared with 38.111 per cent, on February 10. The reserve last Monday amounted to £18.945,415, compared with i15,404,b20 on February 10, an increase of£49 A year ago the reserve was £l-,-J.J,ibi. Sterling exchange last Monday totalled £16.152.189, compared with £10.689,941 on February 10. an increase of £46-,24-. Liabilities in currencies other than New Zealand currency totalled £B6-17 (a decrease of £28,344). thus making the bank’s net overseas assets £16.143,042, compared with £15.652,950 on February 10, an increase of £490,592. A year ago the bank’s net overseas assets totalled £9,497,948. and on February 20, 193 J, thev totalled only £4.488,379. The gold holding is unchanged Jit £2,501,873. Subsidiary coin at £65,130, shows a decrease of £748. Advances to the State Marketing Department total £2,859,191, a decrease of £148.379. A year ago these advances stood at £4,152,314. Advances to the State for purposes other than marketing remain unchanged at £23.690.000. • A year ago they totalled £22.110.000. t Investments at £3.77i,060 have increased by £275. Other assets, amount to £1,184.938, a decrease of £35.570. The note issue last Monday totalled £21,403,473, a further decrease of £68,630 A year ago the note issue amounted ot £18,090,137. Demand liabilities to the State, amount to £10,349,845, a decrease of £606,771. The trading banks’ reserve balances total £15,555,605. an increase of £1.(176.151. Other demand liabilities at £336.477 have decreased by £128,741. Other liabilities total £1,0iG,i66, an increase of £34,282. , The statement balances at £50..i00.906, an increase of £277.947.

liabilities. „ £ s. d. 1. Gen. Reserve Fund J,.100,000 0 0 2 Bank notes .... 21,403,4(3 0 o 3. Demand liabilities— (a) State - (b) Banks .... 4 <_> (e) Other o3b,4ib 14 < 4. Time deposits . . . 5. Liabilities in currencies other than „ X.Z. currency . 8.646 , 2 6. Other liabilities . . 1,076,76b 1 J £( X.Z. >50,530,905 16 10 ASSETS. £ s. <1. 7. Reserve — n n . (a) Gold 2,S01,S<3 10 0 * (b) Sterling Exchange 16,1112,168 lb 1 (e) Gold Exchange S. Subsidiary Com . . 6o,lo4 11 4 9. Discounts — (a) Commercial and Agricultural Bills .... (b) Treasury and Local Body Bills 10. Advances — (a) To the State or State Un- . dertakijigs (1) Marketing Dept. 2,859,190 19 11 (2) For Other z n „ Purposes 23,690,000 0 0 (b) To other Public Authorities (c) Other __<, 11. Investments .... 3,4i4,o4J 11 «' 12. Bank Buildings .. —— „ 13 Other Assets I,184,9o6 4 u * Expressed in X.Z. Currency. £(N.Z.) 50,530,905 16 10