TRADING BANKS

Grey River Argus, 31 July 1940, Page 11

TRADING BANKS

JUNS STATEMENTS

HIGH LEVEL OF DEPOSITS. The statement of assets and liabilities of the six trading banks at the close of business on June 24 snows increased deposits and reduced advances. A comparison of the principal items, with the corresponding figures in the return at Muy 27 is as follows: —

The principal movements 7 since the .’last .return are a further rise of £532,909 in note circulation and of £1,002,124 in London assets. Free deposits are higher by £1,041,338, but there has been a reduction of £427,996 in fixed deposits. Advances, whicn have shown a slight rising tendency during the past few months, have fallen by £2,099,704. Notes of the Reserve Bank held ns till money on June 24 were valued at £3,3917,758,, compared with £3,875,052 a month before. The issue, at the end of June was £18,616,873, making the active circulation £14,699,115. The issue and circulation at the end of June in the past four years have been:—

Free deposits, or current account balances, at £49,112,596, compare with £37,276,032 at the corresponding Uate last year, an increase of £11,836,564. Fixed deposits also are higher at £31,387,481, an increase of £1,961,097 over the total of £29,526,384 at the end of June, 1939. The total of the two, £80,500,077, is a further advance on last month’s figure which itself wa s a record since returns, in the present form were first issued. Advances totalling £47,456,600, are smaller than in any June^sinc e The excess of deposits, £33,043,477, is the largest for the month since the present relurn s began. ADVANCES AND DEPOSITS. The position at the end of June in the past five years is shown in the

Fluctuations in the value of assets held abroad on account of New Zealand business in the June returns since 1936 have been as follows:— London Elsewhere

Overseas liabilities on New Zealand account totalled £2,983,918, against £3,021,531 at the end of May. Subsidiary coin in the banks at 24 was valued at £710,409, compare with £722,757 in the May return. The banks also held gold valued at -- oiJ at the end of June.

June £ May £ Circulation 14,699,115 14,166,206 Free deposits 49,112,596 48,071,258 Fixed deposits 31,387,481 31,815,477 Advances 47,456,600 49,556,304 London assets 13,845,329 12,843,205

Issue Circulation June £ £ 1937 .. .. . . . . 12,630,838 8,658,850 1938 .. .. .. .. 13,774,724 9,524,726 1939 .. .. .... 15,467,281 11,531,486 1940 .. .. .. .. 18,616,873 14,699,115

following table: —- Deposits Advances June £ £ 66,872,444 45,077,019 1937 69,000,502 47,710,890 1938 66,170,710 54,885,803 1939 66,702,416 55,090,252 1940 80,500,077 47,456,600

June £ £ 1936 . . . . 17,316,659 5,900,334 1937 . . .. 12,174,139 5,027,4a5 1938 .. .. 8,308,799 3,054,151 1939 .. .. 4,668,955 1,467,107 1940 . . .. 13,845,329