RESERVE BANK RETURN

Evening Star, Issue 23354, 25 August 1939, Page 6

RESERVE BANK RETURN

STERLING HOLDING SLIGHTLY HIGHER RESERVE RATIO MW AT 27.478 PER CENT. ADVANCES INCREASED BY £553,322 The weekly statement of assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on August 21, is balanced at £31,965,013, against the previous week’s balance of £31,305,160. FEATURES IN RETURN. Sterling exchange has increased fractionally, rising by £21,777 to £5,452,896, Reserve ratio has eased, declining from 28.026 per cent, to 27.478 per cent. Advances to the Marketing Department are higher by £53,322, while advance* “ for other purposes ” are up £500,000. „„„ „„„ , State deposits are £33,221 lower, while demand liabilities to the banks are higher by £516,791. Note issue remains above £15,500,000. The figures at the close of the preceding week are given with this week s return for purposes of comparison, shillings and pence being omitted. liabilities. Last week. This week. £ £ 1 ° e Fund K T V . e . 1,500,000 1,500.000 2. Bank notes ... 15,550,934 15,779,715 3. Demand liabilities — _ „ fal State ... 2,266,066 2,232,845 b Banks ... 11192,397 11,709,188 (c) Other . ... 363,264 282,046 4. Time deposits 5. Liabilities in currencies other than New Zealand currencies 6,429 10,309 8. Other liabilities ■ 446,070 450,909 Total ... £31,305,160 £31,965,013 ASSETS. ’■“•TgoV... ... 2.801.839 2.801,839 'I! 9,151,119 5,.52,896 23i7m 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 Depart-5 7 20|5 3 9 purposes o^? 1 " 13,250,000 13.750,000 (b) To other public authorities 11. InveSraents I” 3.770,250 3,861,449 12. Bank buildings - 13. Other assets ... 98,138 87,<J9+ Total ... £31,305,160 £31,965,013 Proportion of reserve (No. 7 less No. 5) to notes and other , demand liabilities 28.026 p.c. 27.478 p.c. Sterling exchange is expressed in New Zealand currency. RANGE OF MOVEMENTS. The movement of the sterling exchange held by the Reserve Bank of New Zealand since December, 1937, and of .the ratio percentage of reserve to notes and other demand liabilities are shown in the following table: —

The statutory minimum of the reserve ratio is 25 per cent. SYDNEY MARKETS Press Association—By Telegraph—Copyright SYDNEY, August 24. The weakness in the wheat market still prevails. Silo grain is quoted at 2s 4d, bagged at 2a s|d. Flour, £l2 15s. Bran ancl pollard, £4 ss. Potatoes: Tasmanian. £2O; others, £lB 10s. Onion's: Egyptian. £22; Victorian brown. £25; New Zealand, £22 to £24. Maize: Yellow, 4s; white, 4s 2d,

Sterling Reserve exchange ratio £ (N.Z.) per cent 1937. Dec. 27 ... ... 16,992,748 70.323 1938. Aug. 29 ••• ... 13,695,000 67.2 Sep. 26 ••• ... 11,449,447 60.785 Ocfc. 31 ... 7,707.697 46.09 Nov 28 ... ... 4,828,302 32.685 Dec. 26 ... ... 4,678,233 27.882 Jan 2 ... ... 4,017,232 26.13 Jan 9 ... ... 3.933.851 25.526 Jan 16 ... ... 4.373,105 26.782 Jan 23 ... ... 4,395,525 26.695 Jan •30 ... ... 4.133,586 25.75 Feb 6 ... ... 4,074,954 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 25.020 Mar 20 ... ... 4,547,863 25.129 Mar 27 ... ... 4,659,874 25.419 Apt 3 ... ... 4,665,309 25.924 A pi. 10 ... ... 4,598,651 25.501 Apl. 17 ... ... 4,872,817 29.305 Apl. 24 ... ... 4,639,061 25.11 May 1 ... ... 4.817.992 28.815 May 8 ... ... 4,708,705 25.722 Ma.y 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 •Tune 12 ... ... 5.773.667 29.591 June 19 ... 5,793,195 30.985 June 29 ... ... 5,600,691 30.249 Julv 3 ... ... 5,690,003 31.329 July 10 ... ... 5,556,796 30.805 July 17 ... ... 5,589,074 30,379 July 24 ... ... 5,596,010 28.852 July 31 ... ... 5,576,957 28.132 Ausf. 7 ... ... 5,150,954 26.795 Aug. 14 ... ... 5,431,119 28.026 Aug. 21 ... ... 5,452,896 27.478