THE RESERVE BANK

New Zealand Herald, Volume LXXI, Issue 21875, 10 August 1934, Page 10

THE RESERVE BANK

FIRST WEEKLY RETURN HUGE STERLING BALANCE VALUE OF £24,486,000 SHOWN NOTE ISSUE TOTALS £7,791,000 [by telegraph—OWN correspondent] WELLINGTON, Thursday The first weekly return of the Reserve Rank of New Zealand appeared in the Gazette issued to-night. Section 37 of the Reserve Bank Act states thai the bank shall, as soon as practicable after tho close of business on Monday of each week, make up and. transmit to the Treasury a statement of its assets and liabilities as at the close of business on that day. The return published to-day, therefore, covers operations from the opening day, August 1,-up to the close of business on Monday last, a period of 4 \ working days. The statement is as follows: LIABILITIES £ § d 1. Paid-up capital .. .. 500,000 0 0 2. General reserve .. .. 1,000,000 oio 3. Bank notes .. .. 7,701,144 0 0 4. Demand liabilities— • • (a) State 2,499,000 4 II (b) Banks .. , .. 14,536,522 11 10 (c) Other . . . . VV 1 . . 106 3 5 5. Time deposits . . . . G. Liabilities in currencies other than N.Z. currency 7. Other liabilities . . . . *27,934 10 3 Total .. ... . .£26,355,007 10 ~5 ASSETS 8. Reserve— £ , s d (a) Goid . . 259,312 0 o (b) Sterling exchange .'. 24,486,049 3 8 (c) Gold exchange .. 9. Subsidiary coin .. .. 95,68 1 9 9 10. Discounts—(a) Commercial and agricultural bills.. (b) Treasury and local body bills .. .. 11. Advances—(a) To the State or State undertakings .. '. . Cb) To other public authorities ■ (c) Other , 12. Investments .. • • 1,500,000 0 6 13. Bank buildings .. .. 14. Other assets .. • • 13,964 17 7 Total • • • • • • £26,355,007 10 5 Proportion of reserve (No. 8 less No. 6) to notes and other demand liabilities, 99.67 per cent.