RESERVE BANK.

Manawatu Standard, Volume LX, Issue 239, 6 September 1940, Page 10

RESERVE BANK.

SLIGHT FALL IN NOTE ISSUE. STERLING FUNDS LOWER. A substantial decrease of more than £1,000,000 last week has brought tho sterling exchange funds of the Reserve Bank of New Zealand down to £11,183,295, the lowest level touched since last March, uhe upward trend of the note issue lifts been checked for the first time in several weeks. Advances to the State for purposes other than marketing show a further increase of £IOO,OOO, the total now being £23,540,000. The statement of assets and liabilities of the Reserve Bank as at the elese of business on Monday, September 2, is as follows: — LIABILITIES.

£N.Z.43,739,124 17 4 * Expressed in N.Z. currency. Proportion of reserve (No. 7, less No 5) to notes and other demand liabilities, 33 713 per cent., compared with 35.691 pci cent, on August 26. The reserve on Monday tota’led £13,972,843 compared with £15.004.602 on August 26, a decrease oi £1.031,759. A year ago the reserve was £8 056.364, and on September 5, 1338, it amounted to £15,431,812. Sterling exchange on Monday-totalled £11,183,295, compared with August 26, a decrease of £1.033,373. Liabilities in currencies other than New Zealand cuvrenev on Monday were 12,31)4 (a decrease of £1614). thus making the banks net overseas funds £11,170,991, compared with £12.202,750 on August 26, a decrease of £1 031.759. A year ago the net overseas assets were £5.254.525, 'and on Septembci 5 1938, they totalled £12.630,021. ’ \dvancos to the State Marketing Department total £3,266,282. a decrease of £199 908 A vear ago these advances totalled £5,329,122 Advances to the State fer other purposes total £23.540.000. a further increase of £IOO 000 A year ago those advances stood at £14,850.000. „ , . A decrease tins week of £61.056 brings the note issue down to £20.005,062. A year ago it amounted to £15,944,179. Demand liabilities to the State total £47.797.197. an increase' of £177.652. Tho trading banks’ reserve balances amount to £16.427.550, a decrease of £1.096.249. Other demand liabi'ities at £216.930. show an increase of £30,392. Other liabilities total £780,082, a decrease of £158,062.

Providing More Pigs. Farmers in the Gisborne, East Coast and Hawke’s Bay districts are preparing lior a greatly increased t production nt baconers pigs during the present season, and it is expected that much ot the dc•cJine in export billings during recent years will be made up.

£ s d 1. General reserve fend ... 1.500.000 0 C 2. 3. Bank notes Demand liabilities — 20,005,062 10 4,797.196 14 0 8 , (b) Ranks 16,427,549 13 3 (c) Other 216.930 8 6 4. Time deposits — 5. Liabilities in rnrreiicies olher than ' N.Z. cur12,303 13 780,081 12 4 6. Other liabilities 5 £N.Z.43,739,124 17 4 ASSETS. 7. £ s d 0,1 Gold i 2.801,852 0 0 (b) Sterling exchange *11,183.295 ! 9 (c) Gold exchange — 116,519 14 8 9. Discounts — (a) Commercial ana agricultural bills ... (b) Treasury and local 10. Advances — (a) To the State or State undertakings: , 3,266,281 17 (1) Marketing Dept. (2) For other pur8 23,540,000 0 poses 0 (b) To other public authorities — — 11. Investments 2,537.458 11 1 12. Bank buddings — 13. Other assets " 293,717 6