RESERVE BANK RETURN

Evening Post, Volume CXXXIII, Issue 44, 21 February 1942, Page 5

RESERVE BANK RETURN

STERLING EXCHANGE INCREASE

The return of the Reserve Bank of New Zealand for the week ended February 16 shows an increase in sterling exchange by £1,221,418 and the amount is £16,611,303, compared with £16,152,189 as on February 17, 19-11. The note issue at £23,290,946 is down by £165,858 this week* as against £21,403,473 for the corresponding. week of last year. Increases in demand liabilities to the banks and to the State amount this week to £219,165 and £5,019,841 respectively. Income tax is coming in. Advances to the Marketing De-1 partment hare risen this week from £4,421,196 to £8,324,637. Advances to the State for purposes other than marketing stand at £23,750,000, as last week. Details »of the return, compared with those for the week ended February 9, are: — LIABILITIES. £NZ £NZ General reserve . 1,500,000 0 0 Unchanged Bank-notes ... 23,290,946 10 0 U65.85S Demand Liabilities — Banks 10,047,809 19 2 *219,165 State 21,025,836 10 0 *5,019,841 Other ■.. 170,624 8 6 t38,797 Currencies other than N.Z. .. 44,680 10 2 *19,351 Other liabilities 1,191,348 18 5 *22,341 £NZ57,271,246 16 3 *£0076,042 ASSETS. £NZ £NZ Reserve — Gold 2,801,877 10 0 Unchanged Ster. exchange 16,611,303 8 3 *1,221,41S Subsidiary coin 65,087 17 8 tSOS Advances to State— Marketing .... 8,324,637 1 3 *3,903,441 Other purposes 23,750,000 0 0 Unchanged Investments 4,150,427 15 5 Unchanged Other assets .... 1,567,913 3 8 t48,009 £NZ57,271,246 16 3 *£5,076,042 ♦Increase. tDecrease. Proportion of reserve to notes and other demand liabilities, 35.516, compared with 36.699 per cent, for the week ended February 9. The statutory limit is 25 per cent.