RESERVE BANK RETURN

Evening Post, Volume CXXVIII, Issue 18, 21 July 1939, Page 12

RESERVE BANK RETURN

NOTE ISSUE LOWER

STERLING EXCHANGE

STEADY

ADVANCES TO GOVERNMENT

INCREASE

Movements in the weekly statement jf-assets and liabilities, ot the Reserve Bank of New Zealand as at the close of business on Monday, July 17, 1939, are shown nereunder:— Reserves Ratio, 30.379; last week 30.805; and 76.565 for Jaly 11, 1938. Sterling Exchange, £5,580,075, an increase of £23,278 on last week; £15,612,945 last year. Note Issue, £15,451,126, or £18,997 less than last week, compared with £13,545,859 for last year. \ Advances to Marketing Department I at £5,405,348, are £284,575 less than last week; against £3.967,235 last year. The statement ot the assets and liabilities is all in New Zealand currency, including sterling exchange, and is as follows:— LIABILITIES. £N3i s. & £KJi, General Reserve Fund ....... 1,500,000 0 0 Unchanged Bank-notes ..■ 13,451,12(5 10 0 t18,997 Demand liabilities— (a) State 1,420,392 2 7 ni2,305 (b) Banks .... 10,2Sti,0<i!) 2 !l •579,213 ' (O) Other IUS,-120 6 11 f 13,385 {.labilities in currencies other thaD N.Z. cur- • rency ... iil>,t>io is ."> t24,934 Other'liabilities . 396,954 3 11 *14,277 • - £>,Z29,325,576 4 7 *523,570 ASSETS. , . £NZ s. d. £N2. ieseive— ' , (a) r Gold .... 2.501.539 0 0 Unchanged (b) Sterling'es- ' Change - .w.."-5,580,074 11 9 *23,278 iubsidlary coin . 228,93S 19 4 f 2,690 Advances to State for. Primary Products Marketing Dept. . 5,405,347 15 0 -f264,575 For other purposes 11,300,000 0 0 *745,000 Investments 3,790,020 17 5 *(5,556 Other assets ... 1 1 *15,996 • 5NZ29,325,576 4 7 *523,570 | •fDecreuse. "Increase. Proportion ol reserve (reserve less liability m currencies other than New Zealand currency) to notes and other demand liabilities 30.379 per cent., compared with 30.805 per cent, for the week ended July 10, 1939. The proportion ol reserve as at the beginning of each month for the past year has been as follows:— 1333. Per cent. Jijue 0 77.906 Juij 4 16 Ml August I ; • G9.249 . September 5 65.847 October 3 57^59 November 1 39.733 December 5 29.834 last) January 2 26.13 February 6 25.047 Afarcti 6 25.017 Ayrii 3 25.924 ."Maj? '--I \ ..j.^....,...- 25.815 Jiuiev s■/ 29.655 July 3:' ....„..." 31.329 ■ JulyKlO ':..-.■ 30.805 \ ,Jilly.\i7' ...i." /. 30.379 The, statutory limit is 35 per cent. \:;::'SIEm4NG EXCHANGE. Sterling, exehaugc held as assets by the Reserve Bank of. New Zealand tor the past twelve months as at the first week of. the month showed the following variations:— .1933. £i\2 June. G . 17,801,586 July1 4 i 5.941.567 August 1 15,322.303 September 5 12.U35.656 Octobei 3 ............ 10,594.978 November ? 0,633.036 December 5 . .......... 4,200.856 .•"■■'. 1939 January 2 4,017,232 - February 6' ..«. 4,074,954 Morcb 6 4,705.891} April 3 4*163.309 ■ Alay] 4,817.992 ' June 5 5.882.308 July 3 5,690,001 July 10 5,556,797 July-17 ...:. 5,550,075 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, IP3B, have been shown as follows:— 1938. &HZ. June C 300.000 July 25 1.900.000 -"August 1 2,600.000 September 5 3.050,000 October 3 4,575.000 November 7 ............ 8,050.000 December 26 11.200.000 1939. January 2 11.000,000 February 6 11.950.000 Ma.Tcb G 12,725.000 April S 12.075.000 •May 8 12.175.000 June 5 12.125.000 Juue.l2 11,975,000 June 19 \ 10,575,000 June 20 10,625,000 JulyS 10,475,000 July 10 10,555,000 July 17 ; 11,300,000 LAST TEAR'S RETURN. The return as at July 18, 1938, showed the following:— £NSS. General reserve 4,500 000 Bank-notes 13,545,859 Demand LiabilitiesState 2,589,550 Banks 7,972,303 Other 275,335 /Liabilities in currencies other than ■ , \'New Zealand 8,085 Other liabilities 119,128 Reserve— Gold 2.80J 791 ■•.-. Sterling exchange 15,612,945 Subsidiary coiu 231,505 Advances to StatePrimary products marketing .... 3,967,235 For other purposes 600,000 Investments ' 2,732,065 : .Other assets 64,720 Deserve to notes and other demand j : •"■Ji^bilities 75.489