TRADING BANKS
MARCH STATEMENT RISE IN FREE DEPOSITS ADVANCES SHOW INCREASE HEAVY OVERSEAS ASSETS [by telegraph —own correspondent] WELLINGTON. Thursday The monthly statement cf assets and liabilities of the six tracing banks, showing the position at the close of business oil Monday, March 25, was gazetted to-night. This is the eighth return to appear since the Reserve Bank opened. These statements, taken in conjunction with that issued just before the Reserve Bank began to operate, show various monetary movements which have occurred during the period covered. Since February 25, the ds-.te on which the last previous return was compiled, the notes of the trading bunks in circulation have decreased from £921,417 to £854,64.0, a fail of £66,777. There has been a, decrease of £631,090 compared with the position at December 31. : . * The active note circulation, made up of the notes of the trading banks still outstanding and that portion of the Reserve Bank issue in the hands oi: the public, was £6,247,439 at March 25. This is the second highest figure iili anv of the returns, being exceeded only at December 31, when the demands oJf the liolidav season swelled the issue. The position at March 2-11, compared with those at the dates of the earlier returns, was as follows: — T. Bariku R. Bank Total July 30 . . £6,220,241 AUK. 27 .. 3,009. IG4 £2,487,5:13 6,090,377 Sept 21 . . 2,7.16,064 3,467,107 6,183,671 Oct 29 . . 2,206,305 3,834,(63 6.040.9GS Nov. 20 .. 1,846,1297 - 4,242,( 73 6,038,770 Dec. 31 . . 1,486,235 5,355,}88 6,841,823 Jan. 28 . . 1,043,443 5,043,487 6,080,930 Feb. 25 . . 921,417 5,267,£42 6,189,259 March 25.. 851,610 5,382,799 6,247,439 Movement!! of Deposits The demand liabilities or current account balances in New .Zealand of the banks totalled £27,673,805 at March 25. The upward movement displayed since December has thus been continued, the March level being the highest in any of the monthly returns issued, A further fall of over £500,000 in fixed deposits continues the steady reduction that has proceeded throughout the past eight months, These deposits are now more than £5,000,000 lower than they were at July 30. A comparison of the free and fixed deposits and the totals of the two, since last July is given in the following table: — Free Fixed Total July 30 £24,621,606 £40,592,37-:, £65,213,980 Aus. 27 26,184,575 40,203,0011 1>»i,14f,581 Sept." 21 25,771,320 39,586,7211 155,358,040 Oct. 29 24,025,030 39,045,73 V 63,070.707 Nov 26 23.835,044 38,065,56! i 61,900.609 Dec 31 24,177,444 36,762,124 61.1,933, oGB Jan.' 28 25,856,510 36.441.41t. (>2,300,926 Feb 25 27,129.357 36,041.666. 63,1/1.020 March 25 27,073,865 35,454,70!: 03,128,568
The advances and at March 25 amounted to £44,573,3'35, an increase of some £270,000 on the level at February 25. This is the fii'st recovery since the decline from the high level of £44,900,000 at December 31. The relative positions of ad ranees and deposits in the various returns are as f° ll0 ™ : - Excess of
Deposits Advancei. Deposits^ July 30 £G5,213,950 £44,035, Mc £21,128,370 «,u'- °7 6(5 447,581 41,261.010 20,18b.a/l Sept. 24 65,358,040 41.603.073 23,754,967 Oct '29 63,070,767 43.539.044 19,031,--3 \oi- °6 61,900,600 44,417,637 17,482.9/2 Dec." 31 60,939,568 44,903,500 16,036,002 Tan °8 62,300,926 44,795,P02 li.oo--.074 rVh "5 63 171 025 44.300.732 18.670,293 March "25 63,128,568 44,573,365 18,555.203 Rise in London Assets The London assets held by the banks in respect of New Zealand business show another increase, tne total now being £16,605,200, or nearly twice that obtaining when the Reserve Bank opened. This latest figure is an increase of more than £1,000,000 over that appearing in the return of February -o, which, in turn, was £3,000,000 higher than the level at January 28. The overseas assets held elsewhere th.in in London are slightly less at £7,312,980, but the total of the two items, £23,918,180, is substantially the highest to appear in any of the monthly returns issued so far. The totals of these overseas assets of the six banks, as shown in the statements since July, are: - London Klsewher; Total Julv 30 • £8,831,638 £8.359.977 £17,181.515 \ue 27 11,171,057 9,255,542 20,427,5.29 Sen' 24 ' 7 75L171 9.129.641 115,880,812 Oct "•) •• 10,494.570 8.948,611 19,443.381 Nov 26 . 10.120.865! 0,069,112 19,189,5fc' Dec 31 •• 10,618,328 8,924.254 1!),.">42,082 Tan "S • 12,234.355 7.897.234 20.131.583 Feb 25 . - 15,299.786 7,351.603 22,651,389 Mar. 25 .. 16.605,200 7.312.98 C 23,918,180 The subsidiary coin held at March 25 totalled £787,845, compared with £730,422 on February 25.
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Bibliographic details
New Zealand Herald, Volume LXXII, Issue 22099, 3 May 1935, Page 12
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704TRADING BANKS New Zealand Herald, Volume LXXII, Issue 22099, 3 May 1935, Page 12
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