TRADING BANKS

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

TRADING BANKS

DEPOSITS DECLINING

Returns of the six trading banks doing business in New Zealand a3 at the close of business on Auguat 25, 1941, compared with returns for July 28, as furnished to the Reserve Bank of New Zealand, are as follows:—

LIABILITIES.

♦Includes transfers from Bank of New Zealand Long-term Mortgage Fund of £71,793. Overseas assets in respect of New Zealand business held by the banks in London and elsewhere than in London for August for. the past three years were as follows: —

For July, 1941, the overseas assets* amounted to £12,955,730. . The totals of deposits and advances and discounts for July compare as follows: — v

Deposits, fixed and free, at July 28, 1941, amounted to £81,355,369; and excess of deposits over advances at same date totalled £32,932,869. ■ • ~_,.,* New Zealand Government securities held at August 26, 1940, amounted to £16,001,399; for July 28, 1941, they were £20,533,114, and August 25, 1941* £22,333,095.

July 28. \ £NZ. Demand liabilities in New Zealand 52,037,997 Time liabilities in New Zealand 29,317,372 Demand liabilities elsewhere than Jn N.Z. incurred In respect of N.Z. business .. 1,403,948 Time liabilities elsewhere than in N.Z. / incurred in respect of N.Z. business .. 155,394 N.Z. business excess of assets over liabilities 20,897,221 Aug. 25. £NZ. *51>874,520 " 29,144,807 1,325,335 316,397 20,181,433 Total £103,81i;932 £102,842,492 ASSETS. Keserve balances held in Reserve Bank 14,140,146 12,631,669 Overseas assets in respect of New Zealand business— ' (1) In London .. 10,191,115 8,851,734 (2) Elsewhere .. 2,764,615 2,796,537 Gold held in N.Z. ... .10 — Subsidiary coin held in N.Z ;.. 777,501 752,000 Advances in N.Z. ... 48,229,858 48,406,074 Discounts 192,642 166,929 Reserve-Bank notes . 4,300,718 4,203,707 Securities held in N.Z.— (1) Government . 20,533,114 22,333,095 (2) Other than Government .. 748,635 762,251 Value of land, buildUTnA "?*"•• "f LWa.578 W38.49G Total £103,811,932 £102,842,492

i.ug. 1939 940 941 London. £ .... 4,347,966 13,394,842 .... 8,851.734 Elsewhere, £ 1,492,159 2,127,048 2,796,537 I Total. t £ 5,840,12 15,521,89' 11,648,27

'ree deposits ...... 'ixed deposits idvances Excess of deposits Aug., 1940. . ' & 48,831,125 30,869,671 45,378,588 34,322,208 K Aug., 1941 £ 51,874,52' 29,144,80 48,573,00; 32,446,32 32,446,32