RESERVE BANK RETURN

Evening Star, Issue 23324, 21 July 1939, Page 12

RESERVE BANK RETURN

SLIGHT INCREASE IN STERLING HOLDING RESERVE RATI# REMAINS AISVE 30 PER CENT. STATE DEPOSITS AND MARKETING DEPT. ADVANCES LOWER Movements in the weekly statement of assets'-and liabilities of the Reserve Bank of New Zealand as at the close of- business on July 17, record a slight increase in sterling exchange balanced by a slight fall in the reserve ratio. FEATURES IN RETURN. Starling sxehangt has risen by £32,271 to £5,519,074. : Reserve ratio remains comparatively high, but during the period it slipped from 30.805 per cent, to 30.379 per cent.Advances to the Marketing Department are £284,575 lower; but advances " for other, purposes ” are up £745,000. State deposits are £112,305 lower at £1,420,392, Note issue shows little change, and Is still near the £15,500,000 Mark. The figures given at the close of tlio preceding week are-given with this week’s return for purposes of comparison. Shillings and pence being omitted. LIABILITIES, Last Week. This Week. £ £ 1. General Reserve Fund ... ... 1.500,000 1,500,000 2. Bank Notes .... 15,470,123 15,451.126 3. Demand liabilitiesfa) State ... 1,538,697 1,428,592 (b) Banks ... 9,606,856 10i286,069 (c) Other ... 211,805 193.420 4. Time deposits - ' 5. Liabilities in currencies other than New Zealand currencies 94,547 69,613 6. Other liabilities 382,677 396,954 Total ... £28,804,706 £29,328,576 ASSETS. 7 RDSdrrS'**' ' (a). Gold 2,801,839 2,801,839 (b), Sterling exchange ..! ... 5,556,796 5,539,074 (o) Gold exchange - 8. Subsidiary coin 231,634 228,938 9. Discounts—; ; (a) Commercial and agricultural bills ... .;. ... (b) Treasury and local body bills 10. Advances—(a) To State or State undertakings— (l) Primary products Marketing Department ... 5,669,922 5,405,347 12) For other purposes ... 10,555,000 11,300,000 (b) To other public authorities ... ,(c) Other ... ' 11. Investments ... 5,783,160 3,790,028 12. Bank buildings , 13. Other assets ... £06,352 222,349 Total £23,804,706 . £29,328,576 Proportion of reserve (No. 7 less No 5) to notes and other demand liabilities 50.805 ,p.c. 30.379 p.c. Sterling exchange is expressed in New Zealand' currency. RANGE OF MOVEMENTS.

The movement of the sterling exchange held bv the Reserve Bank, of New Zealand during recent , months and of the ratio nercentaee of reserve to notes and other demand liabilities are shown in the following table:— , Sterling Reserve - exchange ratio £ (N.Z.) per cent Oct. 3 ... , ... 10.594,973 57.259 Oct. 31 ... ... 7,707,697 46.09 Nov. 7 ,... ... . 6.633,031. 39.733 Nov. 14 ... ... 5,662.977 36.825 Nov. 21 ... ... 5,029,13? 53.723 Nov. 28 ... ... 4.828,302 32.685 Dec 5 ... ... 4.200,856 29.834 Deo. 12 ... ... 4.572.031 30.333 Dec. 19 ... ...: 4,356,093 28.109 Dec. 26 ... , ... . 4,678,233 27.882 Jan. ,2 ... ... 4,017,252 26.13 Jan. 9 ... ... 3,933,851 25.526 Jan. 16 ... ... 4.373,105 26.782 Jan. 23 ... ... 4,195.525 26.695 Jan 30 .... ,•... 4,133,586 25.75 Feb 6 ... '... 4,074,951 25.047 Feb. 13 ... ... 4;164,499 25.073 Feb 20 ... ... 4,523.030 25.378 Feb 27 ... ... 4,839,555 25.799 Mar 6 ... ... 4,705,897 25.017 Mar 13 ... ... 4,591,685 25.026 Mar 20 ... ... 4,547,863 . 25.129 Mar 27 ... ... 4.659.674 25.419 Apl 3 ... ...’ 4,663,309 25.924 Apl 10 ... ... 4,598 651 25.501 Apl 17 ... 4 R7* > RV7 ?9 305 Apl 24 ’ ... • ... 4,639,061 25.11 May . 1 ... ... 4 8J7;992 28.815 May 8 ... ... 4,708.705 25.722 May 15 ... ... 4,695.194 25.499 May 22 ... ... 4,758,544 25.611 May '29 ... ... 4,564;205 25.136 June 5 ... ... 5,882,307 29.655 June 12 ... ... 5,773,667 29.591 June 19 ... ... 5,793,195 30.935 June 26 ... ... -5.600.691 30.249 Julv 3 ... 5.690,003 31.329 Jufv 10 .. ... 5.556.796 30.805 July 17 . .. 5,589,074 30.379 Til- .1 '.Ml iri!i"inuiB' <?t ' tiie reserve ratio • is 25 per cent. , ,