RESERVE BANK.

Manawatu Standard, Volume LX, Issue 120, 19 April 1940, Page 10

RESERVE BANK.

RISE IN STERLING EXCHANGE. STATE ADVANCES HIGHER. An increase of £283,466 in (lie starling exchange funds of the Reserve Bank of New Zealand brought the total of Monday up to £12.882,659. Dairy advances are lower by £46.935, but advances to the State for other purposes total £19.410.000, an inerease of £IOO,OOO. The note issue at £17,967,522 was down by £107,454. Klate deposits were up by £543,259 ami trading banks’ easii reserves were up to £14,553.506. The statement of assets and liabilities of the Reserve Bank as at the close of business on Monday, April 15, is as follows : LIABILITIES.

‘Expressed in New Zealand currency. Proportion of reserve (No. 7 less .No. 5) to notes and other demand liah'lities, 39.592 per cent., compared with 39.20 per cent, on April 5. The reserve on Monday amounted to £15,676,865. compared with £15.392.295 on on April 8, an- increase of £283.570. A year ago tho reserve was £7,650,594. arid on April 18, 1938, it totalled £20,273,490. Sterling exchange, expressed in New Zealand currency, on Monday amounted to £12,882.659, compared .with £12,599.193 nu April 8, an increase of £283.466. Liabilities in currencies other than New Zealand currency on Monday totalled £5633 (a decrease of £104), thus making the bank’s net overseas assets £12.874,026, compared with £12.590,456 on April 8, an increase of £283,570. A year ago the bank’s net overseas gssets were £4,848,803, and on April 18, 1938, they totalled £17,471.699. Gold remains unchanged at £2.801,839. Subsidiary coin totals '£166,370, an increase of £6406. Dairy advances total £3,481,462. compared with £3,528,398 on April 8, a decrease of £46,935. Advances To the State for other purposes amount to £19,41(3,000, an increase of £IOO,OOO. A vear ago these advances totalled £12.075,000. Investments at £3.060.104. shows a decrease of £3539. Other .assets amount to £2?9,175, a decrease of £11,899. Tho note issue on Monday totalled £17,967,522, a > rther decrease of £107.454. A year ago the note issue wa° £15,440,781. Demand liabilities to the State on Monday wero £6.877,069, an increase of £543,259. The trading banks’ reserve balances stood at £14,533,506 an increase of £.11,735. Other demand liabilities were £195,556, a deeroaso of £119.442. Other liabilities totalled £929,322, a decrease of £1494. The statement balances at £42,031,610, an inc.easc of £326,499.

£ s d 1. General reserve fund .... 1.500.000 0 0 2. Hank notes 17,967,522 10 0 3. Demand liabilities —• (a) Stale 6.877.068 14 1 (b) Banks 14.553.506 10 10 195,556 8 1 4. Tune deposits 5. Liabilities in currencies oilier than N.Z. currency 8,632 19 8 6. Other liabilities 920.322 13 4 £N\Z.42.031.609 16 0 ASSISTS. . 7. Rcsr'rvr- • £ s d (a) Gold 2.801.839 0 0 (b) Sterling exchange 12.882.659 2 9 (cl Gold exchange — 8. Subsidiary coin 166,370 7 6 9. Discounts— (a) Commercial a n d * agricultural bills .... (b) Trcasurv and local — body bills — 10. Advances — (a) To the State or Stnfo undertakings: (1) Marketing Dept 3,481.462 9 11 (2) For other purposes 19,410,000 0 0 (b) To oliior public (e) Ollier — 11. investments 3.060,104 0 9 12. Bank buildings — 13. Other assets 229,174 15 1 EX.Z.42,031.603 16 0