THE RESERVE BANK

Manawatu Standard, Volume LIV, Issue 252, 21 September 1934, Page 2

THE RESERVE BANK

ASSETS AND LIABILITIES. LITTLE CHANGE LAST WEEK. The seventh weekly statement of the assets and liabilities of the Reserve Bank of New Zealand, as at the close of business on Monday, September 17,. is as follows: — '

Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities is 99.52 per cent., compared with 99.54 per cent, for the previous week. The principal changes during the week are an increase of £577,681 10s in bank notes, and a decrease of £587,045 in demand liabilities to the trading banks. Demand litbilities to the State at £4,079,420, show an increase of '£15,946 13s, and other demand liabilities have increased by £124 15s to £l5O. Other liabilities at £19,978 show an increase of £2899.

On the assets side, sterling exchange at £24,499,866 shows a small increase of £l7lO 16s. Gold is unchanged. Other assets at £34,645, show an increase of £7921. The statement balances at £30,509,751 3s 4d, an increase of £9607.

TRADINGBANKS. MONTHLY RETURN FOR AUGUST. Some marked changes are shown in a summary of the trading banks’ monthly returns as at the close of business on Monday, August 27, when compared with those for July 28. The returns, which are furnished to the Reserve Bank in accordance with section 46 of the Reserve Bank of New Zealand Act, 1933, were gazetted last night. The aggregate figures for the 6ix trading banks, expressed in New Zealand currency, are as follow: CREDIT—(a) Demand liabilities in Now £ Zealand 26,184,575 (b) Time liabilities in N.Z 40,263,006 (c) Demand liabilities elsewhere than in N.Z. incurred in respect ot N.Z. business 5,148,764 (d) Time liabilities elsewhere than in N.Z. incurred in respect of N.Z. business ...... 748,479 (j) Notes of own issue in circulation payable in N.Z. ... 3,609,164 Total .£75,953,988 DEBIT—(o) Reserve balances held in the £ Reserve Bank of N.Z 16,510,565 (f) Overseas assets in respect of N.Z. business — (1) In London 11,171,987 (2) Elsewhere than in London 9,255,542 (g) (1) Gold and gold bullion I held in N.Z. 1,149,534 (2) Subsidiary coin held in 1 N.Z 652,210 (ill Advances and discounts in V 1 N.Z 41,261,010 (i) Reserve Bank of Now Zealand notes 5,488,097 Total £85,488,945 The trading banks’ own notes in circulation in New Zealand were reduced during the four weeks, by £2,611,077.' The total note circulation at August 27 was £6,096,377, compared with £6,220,241 on July 30, a reduction of £123,864. Demand liabilities in New Zealand (current accounts, etc.) are higher by £1,562,969 and the total time liabilities in New Zealand (fixed deposits, etc.) are lower by £329,368. Reserve balances held in the Reserve Bank on August 27 were £16,510,565, compared with nil on July 27. Total overseas assets at £20,427,529 were higher by £3,246,014. » Advances and discounts’ in New Zealand show a reduction on the four weks of £2,824,595,. the ratio of advances to total deposits in New Zealand on August 27 being 62.09 per cent., compared with 64.25 per cent, on July 30.

LIABILITIES— £ s d 1. Paid-up capital 500,000 0 0 2. General Reserve Fund . 1.000,000 0 0 3. Bank notes 8,634,350 0 0 4. Demand liabilities— (a| State 4,079,420 3 5 (b) Banks 16,225,852 9 2 (c) Other 150 1 10 5. Time deposits — 6. Liabilities in currencies other than N.Z. cur7. Other liabilities 19,978 8 11 £30,509,751 3 4 ASSETS- £ s d 9. Reserve— (a) Gold 4,351,727 0 0 (b) Sterling exchange . 24,499,866 7 11 (c) Gold oxchango — 9. Subsidiary coin 123,512 12 3 10. Discounts— la) Commercial and agricultural bills .... — (n) lmasury and local body bills — 11. Advances— (a) To the State or State undertakings . — (hi To other public authorities — ic) Uther — 12. Investments 1,500,000 0 0 13. Hank buildings — 14. Other assets 34,645 3 2 £30,509,751 3 4