RESERVE BANK RETURN
STERLING £89,500 HIGHER DEPOSITS UP £436,000 "OTHER ADVANCES" £12,050,000 [BY TELEGRAM! —PREPS ASSOCIATION] WELLINGTON, Thursday Tho Reserve Bank return for tho week ended Monday, February 13, was gazetted to-night. Tho statement is balanced at £29,547,028, or £291,309 more than at tho close of the previous week.
Tho reserve of sterling oxchango has increased by £89,515 compared with the level a week before. Deposits have, however, increased by £430,159, and tho noto issue has decreased by £95,343. Tho net result of these movements is that the ratio of reserve to notes and other demand liabilities remains almost unchanged—at 25.073, against 25.074 tho week before.
Advances have increased by £177,919, those to tho Primary Produce Marketing Department by £77,919 and other advances by £IOO,OOO. The latter now stand at the record level of £12,050,000.
The statement, with variations compared with tho week beforo, is as follows:
Proportion of reserve to notes and other demand liabilities, 25.073 per cent (25.074 last week). The principal items in this week's return are compared with those at the corresponding date last year in the following table:— (000's omitted) 1939 1938 Variation £ £ £ Notes .. 15,111 13,967 +1,144 Deposits— State .. 3,505 4,375 -870 Banks .. 9,030 9,563 -533 Exchange .. 4.164 16,462 -12,298 Advances— Produce , 6,552 6,237 +315 Other .. 12,050 1,100 +10,950 Ratio (p.c.) . 25.073 68.438 -43.365
LIABILITIES Variation Gen. reserve £ £ . 1,500,000 Same Bank notes . 15,110,012 -95,343 Demand liabilities- — State . 3,504,717 +266,734 Banks .. . 9,029,75a + 169,425 Other 87,175 -19,709 Other currencies 12,666 +1.606 Other liabilities . 301,805 -31,494 Total . 29,547,028 +291.309 ASSETS Reserve— Gold . 2,801,701 Same Sterling Ex. . . 4,1(54,409 +89,545 Subsidiary coin . 204,553 -105 Advances— Marketing . . 6,552,350 +77,919 Other .. , . 12,050,000 +100,000 Investment . . 3.652,139 +5,754 Other assets . 121,698 +18,196 Total v . . 20,547,028 +291,309
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Bibliographic details
New Zealand Herald, Volume LXXVI, Issue 23274, 17 February 1939, Page 7
Word Count
282RESERVE BANK RETURN New Zealand Herald, Volume LXXVI, Issue 23274, 17 February 1939, Page 7
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