RESERVE BANK RETURN

Evening Post, Volume CXXVI, Issue 7, 8 July 1938, Page 12

RESERVE BANK RETURN

STERLING EXCHANGE LOWER STATE DEMAND LIABILITIES REDUCED Movements in the weekly statement Of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, July 4, 1938, compared with returns for June 27, are as follows: — LIABILITIES. £ s. d. £ Federal Reserve Fund 1,500,000 0 0 Unchanged Bank-notes 13,747,385 10 0 f27,339 Demand liabilities — (a) State ... 2,984,892 2 6 U.663,317 (b) Banks .. 7,497,248 6 7 *G34,407 (c) Other ... 374,034 10 5 •59,884 Other liabilities . 106,414 14 10 *1,719 £26,209,975 4 "4 f£994,645 ASSETS. £ s. d. £ Beserve—■ j (a) Gold 2,801,791 0 0 Unchanged (b) Sterling ex- j change ...15,941,568 16 2 t667,628 ' Subsidiary coin . 232,856 3 1 t2,715 Advances to State for Primary Products Marketing . ■ . Dept. ..... 3,796,169 0 6 *t360,481 yor other pur- ' \ poses 600,000 0 0 Unchanged Investments .... 2,732,064 16 6 Unchanged Other assets ... 105,725 8 1 *36,179 £26,209,975 4 4 t£994,645 fDecrease. 'Increase. • Proportion of reserve (reserve less liability in currencies other than New Zealand currency), 76.181 per cent., compared with 75.824 per cent, for the week ended June 27, 1938; July 5, 1937, 77.632; July 6, 1936, 96.458. The return as at July 5, 1937, showed the - fololwing:— ...•■. £ ■ General reserve ; 1,500,000 Bank-notes 12,696,153 Demand -.Liabilities— ' . State '. 5,972,846 Banks '. 9,304,688 Other 1,071,344 Other liabilities 85,172 Ueserve— Gold .'. 2,801,791 Sterling exchange 19,746,704 Subsidiary coin ~ 115,128 Advances to State— Tor dairy industry 4,785,986 For other purposes 200,000 Investments ■..., > 2,906,450 -Other assets.' 74,144 • Reserve to notes and other demand ; liabilities -.....,.. 77.632 The proportion of reserve (less reserve liabilities in currencies other than'New Zealand currency) as at the beginning of each month for the past year has' been, as follows: — .; 1937.?- • .'■ ' Percent. 'July 5- :......-....;.. 77.632 August'2 79.676 September 6 ~.. 78.388 : October'4 .".."....... 78.339 November 1 76.083 ■'■ December 6 73.89 ~ 1938. January'3 ■...•..■...... 70.058 February-7 67.039 March- 7 66.019 April 4 75.542 May 2 " ....... 79.569 June 6 • 77.906 -: June 27 ......*..... ..75.821 :,July 4;. -,76.181 ; ; •: LONDON FUNDS. Stealing' exchange held as assets by the Reserve'Bank of New Zealand over the past "twelve months as ati the first week of • the- month show the follow- j ing variations: — • j 1937. * £ ■■ ! July 5 19,746,704 August 2 20,876,822 September 6 18,794,615 October 4 17,462,300 November 1 ............ 17,148,967 .- December 6 ........ , 16,184,928 1938. January 3 16,414,909 ■ .February . 7 ■ •;• 15,700,699 March Y 15,617,116 April 4 16,169,496 . May 2 17,627,443 June6 17,801,586 ; Sf..:::::=::: SffiS?