RESERVE BANK

Evening Post, Volume CXXXII, Issue 76, 26 September 1941, Page 7

RESERVE BANK

RISE IN STERLING FUNDS

The return of the Reserve Bank of New Zealand as at September 22, l'J4l, shows an increase in sterling funds this week by £1,478,834 to £15,991,722 (N.Z. currency); last week shown at £14,542,888 sterling funds had risen for that period by £519,700. At September 23, 1940, sterling exchange was shown at £10,101,854. Demand liabilities to the State at £7,722,714 show a reduction for this week of £1,298,056 and those to the trading banks an Increase of £2,263,803. Advances to the State on account of marketing "at £0,687,383 are reduced this week by £274,121, and compare with £3,034,082 at this time last year. Advances to the State for purposes other than marketing remain at £12,500,000. Bank* notes at £22,337,847 increased by £195,051, comparing with £20,099,247 at September 23; 1940.

Movements in the return for this week are as follows:—

Proportion of reserve to notes and other demand liabilities, 45,637 per cent., compared with 43.337 per cent, for the week ended September 15, 1941, and 31.651 per cent, for the week ended September 23, 1940. The statutory limit is 25 per cent.

LIABILITIES. £i\2 s. d. £NZ General reserve . 1,500,000 0 0 Unchanged Bank-notes 22,337,847 0 0 n95,651 Demand LiabilitiesState 7,722,714 11 11 tl,298,050 Banks ■ 10,319,702 16 4 *2,263,803 Other 762,845 19 10 *51,610 currencies other than N.Z 17,251 0 3 *7,182 Other liabilities . 1,218,801 14 7 *238,057 £NZ43,879,162 12 11 *l,459,006 ASSETS. £NZ s. d. £NZ Reserve— Gold 2,801,874 10 0 Unchanged Ster. exchange 15,991,722 8 9 ♦1,478,834 Subsidiary coin . 44,944 11 9 H.016 Advances to StateMarketing ... 6,687,383 13 8 t274,m Other purposes 12,500,000 0 0 Unchanged Other advances .. 200,000 0 0 Unchanged Investments ' 3,822,858 14 1 Unchanged Other assets .. 1,830,378 14 8 *255,399 £NZ43,879,162 12 11 *l,459,096 •Increase. tDecreasa.