RESERVE BANK RETURN
NOTE IgSIM SOARING
STERLING EXCHANGE RISING
" Movements In the weekly statement 'of assets, and liabilities of the Reserve Bank of New Zealand as at. the close of business on Monday, December: 23, 1940. are shown hereunder:— ; U An advance in the bank-note issue 5-is usual at this time of year, so that i it is not'surprising that the upward -movement which has continued all v through the years should be increased by £432,922 for Christmas week, but "ior the week ended December 23 the : issue was .-well past the £22,750,000 :niark,~ and that by £ 17,718. The rate of f the note issue, for all the return is for Christmas week, shows how it has 'been accelerated over recent years, the v returns for which are as follows:— 'V. ; '■ .•■•: ' „ '-■:.■■•• • ■ ■■■ ■■■• '. . ' ■' ' ■ '-£'~- , December 27, 1937 .. 15;233,127 ; December 28, 193S ............ 16,641,425 /.December 25, 1939 .. v......... 19.292.125 : [December 23, 1940 ............ 22,767.718 Sterling exchange holdings (in New v Zealand currency) continue upwards vith an advance for the week in re/iew of £503,444; being £9,797,742, •■'■ .'vhereas for the corresponding week of •'■-■ 1939 it was shown at £8,717,735, show- •"■■■ ing an increase for the twelve months of over £l,000;000; and a recovery of £5,596,886 in the position as it was on December 5, 1938, when, the holding was but £4,200,856 The ' statement of the assets and liabilities is all in New Zealand cur- ' rency, including sterling exchange, and ' ;s;'is 'as • follows:- 1- •■ ■ ■"■• '.• ■ • '•■ •••.•: ■■ - .:\---:' - .'■■:, ; /LIABILITIES. .- . .-; .-... ■_;:.■.' '.' ■• :-::-y '. £NZ 8. 6. ' &H2, -Oeneral Eeserte 1.500.000 ,00 , Unchanged :' Bank-notes - •>,.. 22,767^18,; 0 0 *432 ( 922 Demand LiabllWes— "State ....i. 6,012,360 911 t678,542 ' : Banks1 ...... 13,013,850 1911 *971,568 ; Other ... i".. 951,803 810 *680,317 • (Currencies, other. . , . • .. . . : than N.Z. ... 24,951 5 8 . *13,619 ~Other liabiUtiea;. 962,930 18 8 *17,456 ■yS:>l '•;•■•; .K-. . £NZ45,233,615 2 8 *1,437.342 :i-¥:^: ''"■'■• ■.-••. "■ -i: f 'ASStTS. '," ' ■.; . ,~' ■Z'si;'^-]. '■■■■ '■:.■■;■'■:...'."-.'&NZ;" 8.4--: >■' ' SNZ ■"'V'lßesßrvor--'■■'.■■■■ •-".'-'."'. ■ " •. ■ ' i Gold .•......■.; 2,801,859 10 0 Unchanged ■''■■'" Sterl. exchange -9,797,741 11 3 -*503,444 coin 46,66112 11 16.848 ■Advances to State— t*i Marketing ... 3,937,492 9 10 *762,826 ?i Other purposes 23,690,000 0 0 Unchanged ■^Investments ... 3,770,595 18 3 *1,510 ;;.Other assets ... 1,188,264^0 5 *179,430 £ : :.':•■'•■'.■ £NZ45,233,615 2 8 " . : TDecrease. •Increase, Proportion ot reserve (reserve less "liability in currencies other than New currency) to notes and other liabilities, 29.417 per cent, compared with 29.233 per cent, for the/ week ended December 16, 1940. The statutory limit Is 25 per cent. Sterling exchange (N.Z. currency; held as assets by the Reserve Bank of New Zealand as at the first week of the months has shown the following variations:— .
1940. SNZ January 1 7,036,750 ■ April 1 ............. u.j... 12,707,890 July 1 ........ 42.- .» 13,420,644 October 7 -9,396,187 November 18 .....V.....-.-. 9,274,593 November 25 x . 8,823,414 December 2 ..>-.....-•>.•• 8,693,277 December 9 8,744,913 December 16 ..^ 9,294,298 December 23 '»;........:..... ■ 9,797,742 Advances to the State for purposei other than for the Primary Products Marketing Department on June 6. 1938, were £300,000; January 2, 1939, they were £11,000,000." During 1940 the advances have increased from £10,310,000 on April 1 to £25,140,000 on October 14; reduced to £23,690,000 on November 4, at which' they now stand. Principal items in the weekly return at this time last year, compared with those for this week, are as follows: -
Dec. Z5, Dec. 23, 1939. . 1940. & & Bank-notes. ..».. 19,292,125 22,767,71! Demand Liabilities— , . 'State ........... 2,859,912 6,012,361 Banks •........." 13,545,448 13,013,85 Other liabilities , 28,352 951,80: Other currencies..; 15,611 24,95 Other liabilities .... 781,857 962,93 Gold ..'...% ........ 2,801,839 2,801,85: Sterling exchange ... 8,717,735 9,797,74: Advances marketing... 3,381,000 .. 3,937,49! Advances State ..... 19,275,000 23,090.001 Investments ...... 3,358,067 3,770,59 Katio per cent. ..* 32.200 29.41'
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Bibliographic details
Evening Post, Volume CXXXI, Issue 1, 2 January 1941, Page 5
Word Count
572RESERVE BANK RETURN Evening Post, Volume CXXXI, Issue 1, 2 January 1941, Page 5
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