Reserve Bank Return

Northern Advocate, 25 March 1937, Page 3

Reserve Bank Return

[Per Press Association. Copyright . 3 WELLINGTON. This Day. The Reserve Bank return, showing the position of assets and liability at the close of business on Monday, March 22, was issued tonight. The statement, balanced at £31,263,531, against £31,803,527. a week before, disclosed considerable improvement in the various items. On the liability side, Government deposits were £1,353,088 lower last Monday than they were a week earlier. Against this, the holdings of the trading banks have increased by £921,753. The note issue, no doubt as a result of the Easter holiday demand, has increased by £91,612 in the, week covered by the return. The miscellaneous items, other demand liabilities, is down by £202,582. Conspicuous among movements in the assets is a fall of £1,000,000 in one class of advances. This is the one listed as being to the State or to State departments “for other purposes” than that of financing dairy produce exports. •< ! . ■

The sterling exchange reserve has increased in value by £576,228. Advances to the Dairy Industry Account are lower by £66,040. Proportion of reserves to notes and other demand liabilities 73,178 per cent (69.95 last week).