RESERVE BANK

Evening Post, Volume CXXXI, Issue 82, 7 April 1941, Page 5

RESERVE BANK

STERLING EXCHANGE

INCREASE

NOTE ISSUE REDUCED

Changes in the Reserve Bank return for the week ended March 31, 1941, include an increase in sterling exchange expressed in New Zealand currency to £17,536.569, or £483.760 more than last week, compared with, £12,707,889 as at April 1, 1940. The note issue at £21,440,822 for the week in review declined by £59.456, and compares with £18.250,094 this time last year. Advances to the State on account of the Marketing Department show a slight reduction for the week; but those for purposes other than marketing remain at £ 15.500.000, to which they were reduced from £20,565.000 on March 17, 1941. The statement ol the assets and linbililies is all in New Zealand currency, including sterling exchange, and is as follows:— LIABILITIES. 4JNZ s. d. £NZ General Reserve 1.5(10 noo 0 0 Dnrhanired ■Rank-notes 21.-140.522 10 0 t59,45« Ik'tiKiiui Liabilities— State B,;(ii),wl 0 5 f0i1,406 R.mks 12.5-13.770 5 11 *260,022 Other 93].572 9 S *137.759 CniT.'ticii's other than S.Z. .. . 7,260 1 2 f1.906 Other liabilities . 1.172,800 15 9 *110,70S £NZ44,166.077 2 11 *436,351 ASSETS £NZ s. d. £NZ Reserve— fiold 2.501.J573 10 0 Dnchanced Ster. exchange 17,536.369 9 9 *453.760 Subsidiary coin 52.333 17 7 t1.369 vii'.iiiii'fs u> SlateMarketing .. 2,926,463 0 6 tHS.32B Other purposes 15.500.000 0 0 Unehnnired Other advances . - Investments .... 3.772,322 4 0 t5.328 Other assets ... 1,546,515 1 1 *S0.(>18 £XZ44,166,077 2 11 *436,351 tDecrease 'Increase Proportion of reserve to notes and other demand liabilities 49.007 per cent., compared with 48.217 per cent for the week ended March 24, 1941, and 39.224 for the week ended April 1, 1940. The statutory limit is 25 per cent.