RESERVE BANK RETURN

Evening Post, Volume CXXVII, Issue 110, 12 May 1939, Page 12

RESERVE BANK RETURN

STERLING EXCHANGE LESS

CHANGES OF THE WEEK

Movements in the weekly statement of assets and liabilities oi the Reserve Bank of New Zealand as at the close of "business on Monday, May 8, 1939, are shown hereunder. , Reserve ratio 25.-.22 per cent.—limit 25 per cent. Note issue down by £18,900 to £15,698,386, against £14,069,006 last year. j Sterling exchange (expressed in New Zealand currency) decreased by £109fi286 to £4,708,706, against £17,461,182 last year. Advances to Marketing Department less by £41,376. The statement of the assets and liabilities is all in New Zealand currency, including sterling exchange, and is as follows:— LIABILITIES. £NZ s. d. £N£. General Reserve '_ Pond ....... 1,500,000 0 0 Unchanged Bank-notes .. 15,698,366 0 0 t18,900 Demand liabilities— ._ „ (a) State .. 2,795,242 611 *430 b) Banks .. 10,394,059 11 3 t325,600 (c) Other .. 119,495 6 2 t33,301 Liabilities In currencies other than N.Z. cur- • . rency 49,229 6 6 *20,269 Other liabilites . 576,925 10 9 *5,843 £NZ31,133,348 1 1 t368,264 ASSETS. £KZ 8. d. SNZ. . (_) Gold 2,801,839 0 0 Unchanged 1115^: 4,708,705 19 9 1109,286 Subsidiary coin . 226,080 8 6 *80 Advances to State for Primary Products Marketing Dept. . 7,325,620 3 4 f4l,oiG Cor" other pur- _ „ „„„ poses 12,175,000 0 0 *100,000 Investments ... 3,770,789 810 t«8 Other assets 125,313 1 2 f31.,194 £NZ31,133,348 1 7 f365,264 tDecrease. 'Increase. Proportion ol reserve (reserve less liability in currencies other the. New Zealand currency) to notes and other demand liabilities, 25.722 per cent., compared with 25.815 per cent, for the week ended May 1, 1939. The proportion of reserve as at the beginning of each month for the past year has been as follows: — .-,... t938 Percent. "Ma, 9 80.0 June c J7.906 tnlv 4 ..................... 76.181 A__i»t i ::::::::. M.249 September 5 ««r„ October » 57.259 November! 39.733 December 5 ._.»-<* 1939 January 2 26.13 February 6 £.W March .6 £j-0" .-March 27 25.419 -April 3 |_-924 .: April 10 20.501 April 17 f?.?? 3 April 24 2a.1l May 1 20.81 a May 8 ... 20.<22 The statutory limit is 25 pet cent. STERLING EXCHANGE. Sterling exchange held as assets oy theßeserve Bank of New Zealand for the past twelve months as at the firstweek of the month showed the following variations:— 1938 £NZ. April 4 -. \H%ill May 2 17.b27.443 •Juwe .1 ".souse J U U 4 10,941.51>i 'August 1 15.322,308 September 5 }2.638,6a6 October 3 - 10,_94,97fe '.'-' November 7 December 5 4.200.856 January 2 ................. *'£"•?.„„ February 6 Hli'Hi Marcb 6 4,705.898 April 3 Til".l 4,663,309 Aotll 10 4.598.652 .. . -Anril 24 4,659.061 MS 1 4817.992 May 8 •• 4,«05,<06 ADVANCES TO STATE INCREASE. Advances to the State tor purposes other than for the P^ary Products marketing. Department at £12.175,000 show an increase of £100,000. Un March 14, 1938, they were nil. At February 27, 1939, they were shown at £12.800,000. Advances to the State other than for primary products since June 6, 1938, have been shown as follows: — , Jun 9 e 3B 6 - foo.ooo lim. 27 ......^ 600.000 Jufs 25 ... ...""" 1,900,000 i Au|u_t 1 .._..."........ 2,600,000 September 5 8.050.000 October 3 f'^-000 - November I •»••••••_•••• 8.050,000 December 28 11. 11.200.000 ia£ t — "'"Kl! January 3D .......... JHMS BETS ,6..:::::::::::::: SSBK - April 3 ..""."".....•• 12,075.000 April 10 11.975,000 Apri 24 12,075.000 May 8 12,175.000 '..„: LAST FEAR'S RETURN. . The return as at May 9, 1938, showed the following:— £Na _ General reserve l'_M_ Bank-notes 14,069,006 Demand Liabilities- . • 3 ' BkEL '.'.'.111....: 6,264,716 • S2?„ 321,196 Bther liabilik'eV 294,128 BBa§d~ ■ 2.801.T5M Sterling exchange ,•• • • 17'^24?S Subsidiary coin _-<,-t>o Advances to State— fi „, For dairy purposes Ic-nrr? Investments '2- nai Other assets .................. b '<obJ Beserve to notes and other demand liabilities / *"■■>