RESERVE BANK

Evening Post, Volume CXXXIV, Issue 106, 31 October 1942, Page 9

RESERVE BANK

DROP IN STERLING FUNDS

Details of the Reserve Bank of New Zealand return for the week ended October 26, 1942, compared with those for the week ended October 19, are :— Liabilities— £NZ £NZ General reserve . 1,500,000 0 0 Unchanged Bank-notes 27,590,445 0 0 *290,504 1 (fin.-irid LiabilitiesState 9,647,120 7 9 *605,194 Banks 21,056,264 0 2 t1.510,930 Other 1,087,317 8 11 t355,653 Other currencies 46,933 13 4 *9,719 Other liabilities 1.59GJ23 11 6 *265,795 £62,524,204 1 8 t686,397 Assets— £NZ £NZ Reserve — Gold 2,801.877 10 0 Unchanged Ster. exchange 25,827,387 2 10 U. 565,823 Subsidiary coin . 38,055 8 7 t1,422 Advances to Staie — Marketing ... 2,667,256 18 4 *7,<598 Other purposes 24,300.000 0 0 Unchanged Investments .... 4,405,229 IS 4 *305,025 Other assets 2,434,397 3 7 *568,125 £62,524,204 1 8 t686,397 "Increase tDecrease. Proportion of reserve to notes and demand liabilities, 45.131 per cent., compared with 49.77 per cent, for the week ended October 12. The statutory limit is 25 per cent.

Principal returns for the corresponding week of last year, October 27, 1941, were:—Demand liabilities to the State. £7,(i95,391, and to the banks, £<J,1G8,187. Bank-notes, £22,132,714; sterling'exchange (N.Z. currency), £11,528,333; advances to Marketing Department, £0,232,837, and to the State for other purposes, £16,500,000.