TRADING BANKS

New Zealand Herald, Volume LXXVIII, Issue 23902, 28 February 1941, Page 8

TRADING BANKS

JANUARY RETURN HIGH DEPOSIT LEVEL £2,432,000 RISE IN MONTH (0.C.) WELLINGTON, Thursday The monthly statement of assets and liabilities of the six trading hanks at the close of business on Monday, January 27, was gazetted to-night. A comparison of the principal items with figures in the return at December -30 is as follows; — January December Circulation .. £10,334,421 £17.44 I Free deposits .. 52,115,417 49.083,597 Fixed deposits • 29,100,751 20.370. Kit Advances .. 40.710.407 48,07!), ItM London assets . 14,291,920 12,040,700 , The continued rise in the level of free deposits, or current account balances, is exemplified by the increase of £2,4131,820 since the end of last month, following others of £1,479,728 and £1,473,230 in the December and November returns respectively. The fall of £1,368,925 in advances is a seasonal movement, the result of returns for export produce coming to hand. Notes in Circulation Notes of the Reserve Bank held as till money on January 27 were valued at £5,490,526, compared with £5,225,981 a month before. The issue at the end of January was £21,824,947, making the active circulation £16,334,421. The issue and circulation at the end of January in the past five years have been Issue Circulation 1937 £13,008,302 £8,355,153 11138 .. 14,210, Oil 9,(100,812 3JKJ9 .. J 5.:«i5,«5R 3 0,975,132 1910 .. 38,31 1.150 13,331,370 lull .. 21,824,917 10,331,121 The total of deposits, £81,225,168, is by a considerable margin the highest at this season of the year since the Reserve Bank began business. Free deposits at £52,115,417 compare with £44,799,671 at the end of January last year, while fixed deposits are £2,61.7,647 lower than the 1940 total of £31,727,398. Advances, though the lowest in the past five years, are greater than the figures for January, 1936 and 1935, which were £45,649,334 and £44,798,852 respectively. Advances and Deposits

The position at the end of January in the past five years is shown in the following table: — Deposits Advances Excess £ £ £ 1937 . 07,909,981 47,110,049 2Q,ftft3,332 UK $8 . 07,817,917 83,313,050 14.504,807 1939 . 00,110,202 50,187,086 9,!rJ3,100 1940 . 76,527,009 49,901.831 20,505,238 1911 . 81,225,168 40,710,197 31.514,071 Fluctuations in the value of assets held abroad, in London and elsewhere, on account of New Zealand business, as shown in the January returns since 1937, have been: — Eondon Elsewhere Total £ £ £ 1937 .. 7,301,885 5,221,770 12,583.055 1038 .. 5,739,073 3,430.731 0,178,801 1939 .. 4,170,004 1,794,070 5.904,734 1940 .. 8,973,230 2,007,353 11,040,583 J 941 .. 14,291,920 2,115,205 10,407,185 Overseas liabilities on account of New Zealand business total £3.246,624 in the January statement, against £2,717.900 at the end of December. Subsidiary coin held at January 27 was valued at £766,892, compared with £677,082 in the December return. Gold valued at £35 was also held.