RESERVE BANK.

Manawatu Standard, Volume LVIII, Issue 229, 26 August 1938, Page 5

RESERVE BANK.

STERLING EXCHANGE DECREASES STATE ADVANCES'HIGHER. . Tho weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of bsuiness on Monday, August 22, is as follows: LIABILITIES. £ s d 1. General reserve funds . 1,500,000 0 0 2. Bank notes 13,756,794 0 0 3. Demand Liabilities—(a) State 4,303,068 17 1 (b) Banks 6.880,219 6 0 (c) Other 311,078 8 6 4. Time deposits 5. Liabilities in currencies other than N.Z. currency 11,474 6 1 6. Other liabilities 114,890 13 5 £N.Z.26,877,525 11 1 ASSETS. 7. Reserve —- £ h d (a) Gold ■ 2.801,791 0 0 (b) Sterling exchange *14,506,110 13 6 (c) Gold exchange 8. Subsidiary coin 229,051 6 5 9. Discounts — v (a) Commercial and agricultural bills ... (b) Treasury and local body bills 10. Advances—(a) To the State or ■ State undertaking: (1) Primary P'r oducts Marketing Dept 3,609,913 18 2 (2l For other pur poses 2,900,000 0 0 (b) To other Public Authorities (c) Other .-. 11. Investments 2,732,064 16 6 12. Bank buildings 13. Other assets 98,593,16 £N.Z.26,877,525 11 1

*ln New Zealand currency. Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 68.497 per cent., compared with 70.378 per cent, on August 15. A decrease of £128,076 is shown in sterling exchange this week, the total held being £14,506,111. Gold is unchanged at £2,801,791. Subsidiary coin totals. £229,051, an increase of £3614. Advances to the Primary Products Marketing Department amount to £3,609,914, an increase of £322,164. Advances to the State for other purposes show a further increase of £300,000, the total now being £2,900,000. Investments remain unchanged at £2,732,065. Other assets amount to £98,594, an increase of £4552. A substantial increase of £17,435 brings the total amount of the note issue up to £13,756,794. Demand liabilities to the State total £4,303,069, a decrease of £238,144. The trading banks’ reserve balances amount to £6,880,219, an increase of £548,020. Other demand liabilities at £311,078 show an increase of £36,031. Liabilities in currencies other than New Zealand amount to £11,474, a decrease of £16,566. Other liabilities at £114,891 have increased by £2478. The statement balances at £N.Z.26,877,526, an increase of £502,254.