RESERVE BANK

Evening Post, Volume CXXXIII, Issue 50, 28 February 1942, Page 9

RESERVE BANK

STERLING UP BY £2,887,400

The most notable feature in the return ,of the Reserve Bank of New Zealand for the week ended February 23 is an' Increase in sterling exchange (in New Zealand currency) by £2,887,412 to £19,498,715. At February 24 last year this item stood at £16,647,053. | The bank-note -Issue-at"1 £23,455,869 Increased this week by £164,923 and compares with £21,382,477 for the corresponding week of last year. Advances to the Marketing Department at £6,639,221 show a fall on last week's return of £1,685,416. Demand liabilities of the Reserve Bank to the State at £12,158,442 show an increase for week of £2,110,632; and those to the banks to £21,481,343, in in"creaso for the week of £456,008, whereas for the week ended February 16 last they totalled £21,025,836. Details of the return, compared with those for the week ended February 16, are: — LIABILITIES. £NZ £NZ General reserve . 1,500,000 0 0 Unchanged Bank-notes 23,455,869 0 0 *164.923 Demand Liabilities— State 12,158,441 19 3 *2,110,632 Banks 21.481,843 11 ' 0 *456,008 Other , 235,881 6 1 *65,257 Currencies other than N.Z. .. 42,363 13 2 f2,317 Other liabilities . 1,233,038 3 (> *41.689 £XZ60,107,43713 0 *£2,836,rjl ASSETS. £NZ £N55 Kescrvi.1— . ' . C.'olil 2,801,877 10 0 Unchanged ■Ster. exchange 19,498,715 !) 11 *2,887,412 Subsidiary coin 77,809 17 1 *12,722 Advances to StateMarketing .. 6,639,221 5 9 f1,655,416 Other purposes 23,750,000 0 0 Unchanged Investments ... 4,150,508 5 $- *80 Other assets .. 1,189,305 416 f378,f108 £NZ60,107,437 13 0 *£2,836,10 i ♦Increase. tDecrease. rroportlon of reserve to notes and other demand liabilities, 38.823, compared with 35.516 per cent, for the week ended February 16. The statutory limit Is 25 per cent.