RESERVE BANK.

Manawatu Standard, Volume LX, Issue 257, 27 September 1940, Page 10

RESERVE BANK.

NET OVERSEAS ASSETS INCREASE. NOTE ISSUE HIGHER. The note issue of the Reserve Bank of New Zealand on Monday totalled £20,099,247, a further increase cf £70,750. Slate deposits were down by £496,549, but the trading banks’ cash showed an increase of £896,358. Sterling exchange at £10,101,854 was less by £115,184, but due to a large decrease in overseas currency liabi'ities the bank’s net overseas assets at £lO,089A43 showed an increase of £506.913. The weekly statement of assets and liabilities of the Reserve Bank as at tho close of business on Monday, September 23, is as follows: LIABILITIES.

*Expresscd in New Zealand currency. Proportion of reserve (No. 7 loss No. 5) lo notes and other demand liabilities, 31.651 pur cent., compared with 30.776 per cent, on September 16.

The reserve on Monday totalled £12,891,195, compared wtih £12,384.282 on September 16, an increase of £506,913. A year ago the reserve was £8,097,130, and on September 26, 1938, it totalled £14,233,340.

Sterling exchange on Monday amounted to £10,101,854, compared with £10,217,038 on September 16. a decrease of £115,184. Liabilities in currencies other than New Zealand currency, however, were only £12,510 (as compared with' £634,609 on September 16), thus making the bank’s net ovorseas assets £10.089.343, compared with £9,582.430 on September 16, an increase of £506,913,

Advances to tho State Marketing ' Department total £3,034.082. a decrease of £213.706. A year ago these advances stood at £4,593,266.

Advances _to ' the Slate for other purposes remain unchanged at £24,040,000. The note issue shows a further increase of £70.750, and now stands at £2O 099 247. A year ago the note issuo was £16,647,695.

Demand liabilities to the State amount to £5,038,860, a decrease of £496,549. The trading banks reserve balances total £15,412,656. an increase of £896.358. Other demand liabilities at £177,954 show an increase of £18,032. Other liabilities total £977,748, an increase of £144,830.

£ s d 1. Genera! reservb fund .. 1.500.000 0 0 a. Bank notes 20,099.247 10 0 3. Demand liabilities— (a) State 5.038.860 6 8 (b) Banks 15,412.656 11 6 (c) Other 177,954 Time* deposits — Liabilities in currencies other than N.Z. currency 12.510 10 3 4. 5. 10 7 6. Other liabilities 977,748 5 11 £N.Z.43,218,977 14 11 7. ASSETS. Kcsorv r — £ d (a) Gold 2.801.852 6 0 (b) Sterling exchange *10,101,854 3 0 8. (c) Gold exchange — Subsidiary coin 118,587 12 0 9. 10. Discounts— (a) Commercial and agricultural bills ... — (b) Treasury and local body bilL — Advances— (a) To the Stale or State undertakings: (1) Marketing Dept. 3,034.081 14 11 (2) I'or other purposes 24,040,000 0 0 11. (b) To other public authorities — (c) Other Investments 2,553,219 12 11 12. 13. Bank buildings — Other assets 569,382 12 1 £X.Z.43,218,977 14 11