RESERVE BANK RETURN

Evening Post, Volume CXXVIII, Issue 12, 14 July 1939, Page 12

RESERVE BANK RETURN

CHANGES THIS WEEK

STERLING EXCHANGE

LOWER

ADVANCES TO GOVERNMENT

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 10, 1939, are shown hereunder:— Reserve Ratio, 30.805; last week 31.329; and 76.565 for July 11, 1938. Sterling Exchange, £5,556,797, a decrease of £133,207; against £15,891,834 last year. Note Issue, £15,470,123, or £114,589 last than last week, compared with £13,594,559 last year. Advances to Marketing Department are £5,669,922, an increase of £10,378 on the week, against £3,683,795 last year. The statement of the assets and liabilities is all in New Zealand currency, including sterling exchange, and is as follows:— LIABILITIES. £NZ s. d. £NZ. General Reserve Fund 1,500,000*0 0 Unchanged Bank-notes .. 15,470,123 0 0 f114,550 Demand liabilities — (a) State ... 1.535.697 1 •", t96,0« |b) Banks ... 9,606,85G 0 r. < 282,854 (c) Other .. 211,805 7 0 ni0,446 Liabilities in currencies other than N. 2. currency "94,547 11 (i ' ;>5,019 Other liabilities . 382,677 S Hi *y27 £XZ25,504,70G 9 2 v.V,>,2SI ASSETS. snz s. a. £jsa. Kesorve — (a) Gold -i.SQI.S39 0 0 Unchanged (b) Sterling i-i change ....•"..:r.56,796 19 3 f 133,207 Subsidiary coin . -'31,034 3 2 S *7,343 Advances to State for Primary Products Mar- i keting Dept. . :<M(J,iH-~ l» t; *10,37S j For other purposes 10.555.00U 0 I) *SO,OOO Investments ... 3,783,160 Iti 10 *2,670 ( Other assets ... 206,352 19 11 t19,465 | 5XZ28,804,70C 9 2 -f02,25l tDecrease. Proportion of reserve (reserve less j liability in currencies other than New i Zealand currency) to notes and other demand liabilities 30.805 per cent., compared with 31.329 per cent, for the I week ended July 3, 1939. j The proportion of reserve as at the i-. -ginning of each month for the past j v..-ar has been as follows:— 1938. Tor com June 6 . 77.900 July 4 . 76.181 rVugust 1 ............ .^.... 69.249 September 5 ................ 65.847 October 3 57.259 Sovember 1 39.733 December 5 29.834 1939. January " 20.13 ■'cbruary C 25.04 V starch 6 -.. 25.017 Vpril 3 : 25.924 ipril 17 86.305 April 21 25.11 .May 1 ........... 25.815 June 5 29.655 June 26 .30.249 July 3 31.32!) July 10 30.805 The statutory limit is 25 per cent STERLING EXCHANGE. Sterling exchange held as assets by the Reserve Bank of New Zealand for the past twelve months as at the first week of the month showed the following variations: — 1938. £KZ June 6 17,801,0 Si; July 4 15,941,561 August 1 15,322,30 - September 5 12,638,650 October 3 10,594,97}November 7 0,633.036 December 5 4,200,850 1939 January 2 4,017,23: February 6 ....... M .... 4,074,954 March 6 4,705,83 i; April S 4,663,30!) April 10 -4.598,65; ' April 17 4,872,81!April 24 4,659,001 May 1 4,817,91»: Juno 5 5,552.3(^ July 3' C,G90,00] July 10 5,556,797 ADVANCES TO STATE. Advances to the State for purposes other than for the Primary Products Marketing Department on March 14, 1938, 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, hav ( ebeen shown as follows: — ',:--is3B. ■ . ■■;■■■ -. \ ' eMz. ?arune-"6 .... x ,i.i. JL ,*.... 300,000 :;JulX 25 ..,. M ,»;wt'..a... 1,900,000 . AUgUSt 1 -6Kc»«:.-.:*e.x>X4. 2,600,000 'September 5 ••^••kumm*;* 3,050,000 October S «.:.:.;,•..».,,. 4,575,000 "November 7 »>..• ki»w>». 5,050i000 December 26 *■»......,. 11,200;000 ;. 1939. •.".•■ . January 2 i.^*,-*..*...... 11,000,000 January 80 -.»;«««-.«... 11,100.000 February 6 «.» MiS *:*B.>i.. Ili950;000 March 6 «n»«a.«.•••»». 12,725,000 April 3 ...>:...„..:.:.■. 12,075,000 AprH 10 ~*.....»...:... 11,9X5,000 April 24 ..„;....*..»,* 12;075,000 May S M ............. 12,17&^)00 May 29 •■•,»> «.«•«. 12.025.000 June 5 *....... 5 .*:«... 12.125i000 June 12 mOl 11,975]1000 June 19 10,575;000 June 26 10,625,000 July 3 10;475,"000 July 10 10,555;000 LAST XEAR'S RETURN. The return as at July 11, 1938! showed the following:— ■•■■... . . SNZ. General- reserve ....... L ..,>.... 1,500.000 Bank-notes 1i?;t>94,559 Demand Liabilities— • 1State i« 3,090,063 Banks ..., ........ 7;508;327 Other 3C..K. 222,220 Other liabilities ....-.> .... 106,079 Reserve — . Gold J.... K ..;.,,. 2.801.791 Sterling exchange [.>. X .. 15,891,835 Subsidiary . coin „-.....- 233,507 Advances to State— Primary products marketing .. 3,083,795 For other purposes 600,000 Investments 2.732.065 Other assets 75;255 Reserve to notes and'other demand liabilities 7D.5G5