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TRADING BANKS

OCTOBER RETURNS RISE IN ADVANCES £1,649,000 HIGHER IN MONTH (0.C.) WELLINGTON, Thursday The monthly statement of assets and liabilities of the six trading banks at the close of business on Monday, October 27, was gazetted to-night. A comparison of the principal items with the corresponding figures in the September return, is as follows:—• October September Circulation .. £18,250,025 £.17,701,233 Free deposits . 41),593,335 40,722,721 Fixed deposits . 29,233,715 29,212,817 | Advances .. 49,159,781 47,810,304 London asserts . 9,598,(559 9,807,662 While free deposits are lower than they were in the previous month's return, the decrease, £129,386, is much smaller than in September, when the total was £2,000,000 lower than that for August. By an increase of £1,649,417 advances have recovered from the decrease of £595,700 shown the month before. Notes In Circulation Notes of the Reserve Bank held as till money on October 27 were valued at £3,881,789, compared with £4,527,227 a month before. The issue at the end of October was £22,132,714, making the active circulation £18,250,925. The issue and circulation at the end of October in the past live years have been: — Oct.. Issue Circulation 1!>37 .. £13,273,09 L £9,421,425 1938 „ 11,437,821 10,789,286 1939 .. 17,371.820 13,028,308 1940 .. 20,200,051 16,193,-106 1941 .. 22,132,714 18,250,925 With both aggregate deposits and advances showing increases compared with the level at the end of October last year, the rise in the latter is slifhtlv greater than in the former, £1,983,742, against £1,744,210. Both advances and deposits have shown an upward tendency practically throughout the year compared with the 1940 levels. Advances and Deposits The position at the end of October in the past five years is shown in the | following table:— Deposits Advances Excess Oct C c £ I<>;!7 . 05 023,515 52,016,011 12,970,001 l!i:!S . 03',201,931 58.720,651 4,172,280 103!» . 68.778.210 52.828.034 15,9. ,0.21.» 101(1 . 77,082,810 47,4.6,039 20,00b, id 1011 . 78,827,050 40,159,781 20,307,209 Fluctuations in the value of assets held abroad on account of New Zealand business, as shown in the October returns since 1937 have been as follows: , _ . , * London Elsewhere lotal Oct £ € 1037 . 7.767,511 4,000,645 11.858,1, >6 l'Ct.S . 4.115,005 2,520.451 <>.635,546 , 1930 . 4,714,458 1,666,764 0381,222 1910 . 10.201,134 2,150,314 15,3.>1,44S 1941 . 9.505,659 2,719,716 12,318,375 Overseas liabilities 011 New Zealand account totalled £1.516,561, against £1.633,306 at the, end of September. Subsidiary coin in the banks at October 27 was valued at £714.369, compared with £758,427 in the September return.

Permanent link to this item

https://paperspast.natlib.govt.nz/newspapers/NZH19411128.2.104

Bibliographic details

New Zealand Herald, Volume 78, Issue 24134, 28 November 1941, Page 9

Word Count
385

TRADING BANKS New Zealand Herald, Volume 78, Issue 24134, 28 November 1941, Page 9

TRADING BANKS New Zealand Herald, Volume 78, Issue 24134, 28 November 1941, Page 9

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