RESERVE BANK

Dominion, Volume 34, Issue 190, 9 May 1941, Page 3

RESERVE BANK

Increase In Sterling Funds

The sterling exchange funds of the Reserve Bank of New Zealand last Monday stood at £20,593,144, an increase for the week of £77,308. The bank's net overseas assets at £20,508,353, have increased by £67,609.' The note issue totalled £21,809,606. a decrease of £44,322. Advances to the State Marketing at £3,644,333, have increased by £474,784, while advances to the State forjither purposes remain unchanged at £15,500,000. The statement of assets, and liabilities as at the close of business on Monday, Mav 5, is as follows:— LIABILITIES. £ s. d. 1. Gen. Reserve Fund 1,500,000 0 0 2 Bank notes 21,809,606 0 0 3. Demand liabilities — (a) State 5.990.15 S a -■> (b) Banks .... 13,903,499 3 o (c) Other 534,905 12 6 4. Time deposits .... —— 5. Liabilities in currencies other than N.Z. currency .. 24,78 S 15 4 6. Other liabilities . . 1,203,089 15 4 £(N.Z.)47,966,047 12 0 ASSETS. 7. Reserve —- £ 1 s - 4. (a) Gold 2,501,874 10 0 *(b) Sterling exchange 20,593,144 2 7 (c) Gold exchange —— 8. Subsidiary coin .. 77,784 11 0 '9. Discounts — (a) Commercial & Agricultural Bills (b) Treasury and Local Body Bills 10. Advances—(a) To the State or State un- . dertakings—(l) Marketing Dept 3,644,332 13 0 (2) For other 1 purposes 15,500,000 0 0 £b) To other Pub- “ lie Authorities (c) Other 11. Investments .... 3,772,569 9 1 12. Bank buildings .. 13. Other assets .... 1,576,342 510 £( N.Z. >47,966,047 12 0 ♦Expressed in N.Z. currency. . Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities 51.66 per cent., compared with 52.096 per cent, on April 28. The reserve last Monday amounted' to £23,370.229, compared with £23,302,619 on April 28, an Increase of £67_,610. A year ago the reserve was £16.450,366. Sterling exchange last Monday totalled £20,593.144. combined with £20,515,776 on April 28, an increase of £77,358. Liabilities in currencies other than New Zealand currency totalled £24,789 (an increase of £9759), thus making th_e bank's net overseas assets £20.568,355, compared with £20.500.746 on April 28, an increase of £67,609. A year ago the bank's net overseas assets amounted to £13.648,527, and o n May B‘,' 1939, they totalled only £4.659,477. The gold holding is now £2.801,574, an increase of £l. The subsidiary coin at £77,785 has decreased by £25.403. Advances to the State Marketing Department total £3,644,333, an increase of £474,784. A year ago these advances stood at £3,512,259. Advances to the State for purposes other than marketing remain unchanged at £15.500.000. A year ago they totalled £19.360,000.

Investments at £3,772.569 are unchanged. Other assets amount to £1,576,342. a decrease of £4803. The note issue last Monday totalled £21,809,606. a decrease of £44,322. A year ago the note issue amounted to £17.925.943. Demand liabilities to the State amount to £.5,990,158, a decrease of £.25,654. The trading banks, reserve balances total £13.903.499, an increase of £592,053. Other demand liabilities at £534.906. have decreased by £14.002. Other liabilities total £1,203,090, an increase of £994.

The statement balances at £47,966,048, an increase of £518,858.