RESERVE BANK

Dominion, Volume 34, Issue 285, 29 August 1941, Page 3

RESERVE BANK

Decrease In Sterling Exchange The sterling exchange funds of the Reserve Bank of New Zealand last s , n i 4:1 r. reiii s5O a decrease for the ment at £6,306,857. have by £”B4 861, while advances to the State lor other purposes are unchanged at “t’SSement of assets and as at the close of business on Monday,, August 25, is as follows LIABILITIES. £ S. u*

‘Expressed-in N.Z. currency.

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 39.635 per eent., compared with 40.21 a per eent. on August 18. The reserve last Monday amounted to £17,884,362, compared with £18,131,453 on August IS, a decrease of £247,091. A vear ago the reserve was £li>,OO4,t>O_. Sterling exchange last totalled £15,090.850, compared with £15,333,8(w on August IS, a decrease of £2-13,010. Liabilities hi currencies other than New Zealand currency were £5362 (an increase of £4076), thus making the bank's net overseas assets £15,082,488. compared with £15,329,579 on August IS, a decrease of £147,091. A year ago the bank s net overseas assets amounted to £12,202,750, and on August 28, 1939, they totalled £5,651,937. The bank’s gold holding remains unchanged at £2,801,874. Subsidiary n is shown at £49,316, a decrease of *-14®Advances to the State Marketing Department total £6,306,557, an increase of £284,861. A year ago these advances amounted to £3,466,190. Advances to the State for purposes other than marketing arc unchanged at £lB 000,000. A year ago they totalled £23,440,000. „ 7 „ , n Investments amount to £0,77-,a—, an increase of £265. Other assets total £1.612,045, an increase of £2209. The note issue last Monday totalled £2” lIS 541, an increase for the week of £178:978. A year ago the note. issue amounted to £20,066,118. Demand liabilities to the State amount to £9.474,903, a decrease of £86,523. The trading banks’ reserve balances total £12,646.520, an increase of £‘299,219Other demand liabilities amount to £883,089. a decrease of £354,814. Other liabilities total £1,002,350. an increase of £1236. The statement balances at £47,633,7(w, an increase of £42/172. ,

1. Gen. Reserve Fund 2. Bank-Notes • ••• 1,500,000 0 22,118.5-11 10 0 0 X Va? State9,474,902 13 14 4 1 9 0 4. Time deposits ... • 5. Liabilities in currencies other than N.Z, currency .. 8,361 13 9 G. Other liabilities .. 1,002,350 5 £(N.Z.) 47,633,765 0 10 assets. d. 0 7. Reserve — £ 2,SOI,874 s. 10 »(b) Sterling exchange .... 15,090,849 18 1 (c) Gold exchange S.- Subsidiary coin . • 9. Discounts— 49,316 s 11 • (a) Commercial & Agricultural Bills J (b) Treasury and Local Body Rills 10. Advances — (a) To the State or State undertakings— . (1) Marketing 6,306,836 Dept (2) For other 16 7 18,000,000 purposes .. 0 0 (b) To other Publie Authorities ——- ,1 ,i,i -—.I— 11. Investments 3,772,821 12. Bank buildings .. — — 13. Other assets l,612,04u 8 - £ (X «Z.) 4i ,03d, < t>u 0 10