RESERVE BANK
DECREASE IN STERLING EXCHANGE STATE ADVANCES HIGHER RESERVE RATIO, 30.249 PER CENT lUuitcrl Press Associatlonl WELLINGTON, 30th June. A decrease of £192,503 in the sterling exchange funds of the Reserve Bank of New Zealand is shown in the weekly return as at the close of business on Monday, 26th June. There is a corresponding decrease in the reserve, the proportion of which to notes and other demand liabilities is 30.249 per cent. Advances on dairy produce have further increased by £401,119 to a total of £6,301,165. Advances to the Stale for other purposes at £10,625.000 are higher by £50,000. State call deposits at £2,328,009 show a decrease of £983,782, and the trading banks’ cash reserves are higher by £1,142.786. The statement of assets and liabilities is as follows: LIABILITIES
# Expressed in N.Z. currency. Proportion of reserve (No, 7 less No. 5) to notes and other demand liabilities, 30.249 per cent., compared with ( 30.905 per cent, on 19th June, and 75.824 per cent, on 27th June, 1938. The reserve on Monday amounted to £8,345.823, compared with £8.538,849 on 19th June, a decrease of £193,026. On 27th June, 1938. the reserve totalled £19.410.987. Sterling exchange on Monday totalled
£5,600,692, compared with £5,793,195 on 19th June, a decrease of £192.503. Liabilities in currencies other than New Zealand currency on Monday amounted to £56,708 (an increase of £522), thus making the bank’s net overseas assets £5,543.984, compared with £5,737,010 on 19th June, a decrease of £193,026. A year ago the bank's net overseas assets totalled £16,609,196. The bank’s gold holding remains unchanged at £2,801,839. Subsidiary coin totals £226,756. an increase of £6773. A substantial increase of £401,119 is shown in advances to the Primary Products Marketing Department, which now total £6,301,165, as against £5,900,046 on 19th June. Advances to the State for other purposes total £10,615,000, an increase of £50,000. Other advances, which last week amounted to £200,000, have been repaid. Investments remain unchanged at £3,768.164. Other assets amount to £187,981, a decrease of £15,451.
The note issue totals £15,467,281, a decrease on the week of £61.676, but is £1,692.557 in excess of the amount of £13,774,724 shown a year ago. Demand liabilities to the State total £2,328,009. a decrease of £983,782. The trading banks’ reserve balances amount to £9.643.785, an increase of £1.142.786 Other demand liabilities at £150,998. show a decrease of £65,185. Other liabilities amount to £364,817, an increase of £71.272. The statement balances at £29,511,598, an increase of £49,938.
£ s. d. 1. General reserve fund 1.500,000 0 0 2. Bank notes 15.467,281 10 0 3. Demand liabilities— <a> State 2.328.008 14 5 <b) Banks 9,643,785 6 2 (c) Other 150,997 12 5 4. Time deposits — 5. Liabilities in currencies other than N.Z. currency 56,707 12 10 6. Other liabilities 364,816 16 2 £(N.Z. >29,511.597 12 0 ASSETS £ s. d. 7. Reserve— <a) Gold 2.801,839 0 0 (b) Sterling exchange 5.600,691 15 0 (c) Gold exchange ... — 8. Subsidiary coin 226,756 2 1 9. Discounts — (a) Commercial and Agricultural Bills .. T— (bl Treasury & Local Body Bills — 10. Advances — (a) To the State or State undertakings : (1» Primary Products Marketing Department 6,301,165 6 1 (2) For other purposes 10,625,000 0 0 (b) To other Public Authorities — (c) Other — r . Investments 3,768.164 0 0 12 Bank buildings ... — 13 . Other assets 187.981 8 10 £(N.Z.)29,511.597 12 0
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Bibliographic details
Nelson Evening Mail, Volume LXXIII, 1 July 1939, Page 15
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553RESERVE BANK Nelson Evening Mail, Volume LXXIII, 1 July 1939, Page 15
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