RESERVE BANK RETURN

Evening Post, Volume CXXVI, Issue 49, 26 August 1938, Page 12

RESERVE BANK RETURN

ADVANCES TO STATE

INCREASED

STERLING EXCHANGE POSITION —

Movements in the weekly statement of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, August 22, 1938, compared with returns for August 15, are shown hereunder. It will be noticed that sterling exchange shows a slight decrease on funds, being £14,506,110 13s 6d, compared with £14,634,186 13s 5d last week. The statement of the assets and liabilities, all in New Zealand currency, is as follows:— • V

LIABILITIES. . S s. d. £ General Beserve ' Fund 1,500,000 0 0 Unchanged Bank-notes .. 13,756,794 0 0 . »170,435 Demand .liabilities— (a) State ,.. 4,303,068 17 1 f23S,144 (b) Banks .. 6,880,219 6 0 *548,020 (c) Other ... 311,078 8 6 *36,031 Liabilities in cur- ; rencies other than N.Z. currency 11,474 6 1 tl6,5G0 Other liabilities . 114,890 13 5 *2,47S £(N.Z.)26,877,525 11 ( 1 *302,254 ASSETS. £ s. d, & Reserve— (a) Gold .... 2,801,791 0 0 Unchanged (b) Sterling exchange 14,506,110 13 6 f 128,076 Subsidiary coin . 229,051 6 5 *3,614 Advances to State . for Primary Products Marketing Dept. 3,609,913 18 2 *322,164 For other pur- . poses 2,900,000 0 0 *300,000 Investments .... 2,732,064 16 6 Unchanged Other assets ... 98,593 16 6 »4,552 £ (N.Z.)26,877,525 11 1 *502,254 tDecrease. *Increase. Proportion of reserve (reserve less liability in currencies other than NewZealand currency), 68.497 per cent., compared with 70.378 per cent, for the week ended August 15, 1938. The return as at August 23, 1937, showed the following:— :'. ■ ' £ Heneral reserve 1,500,000 ISank-notes 12,779,641 Demand Liabilities — State 6,206,133 Banks 10,362,245) Other 581,201 Other liabilities /... 93,734 **%&-. . 2.801.791 Sterling exchange 20,631,901 Subsidiary coin - 105,343 Advances to State— For dairy purposes 4,704,415 For other purposes 300,000 Investments 2,90.6,450 Other assets 73,0o4 Reserve to notes and other demand liabilities 78,297 . ' w" 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. Per cent. 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 70.088 February 7 67.039 March 7 66.019 April 4 , 75.542 May 2 79.569 June- 6 77.906 July 4 76.181 August 1 69.249 August 15 70.378 August 22 68.497