RESERVE BANK RETURN

New Zealand Herald, Volume 79, Issue 24217, 7 March 1942, Page 8

RESERVE BANK RETURN

STERLING £751,249 LOWER "movement of deposits [BY TELEGRAPH —PRESS ASSOCIATION] WELLINGTON, Friday An increase of £1,498,952 in Government deposits and a fall of £2,935,805 in the holdings of the trading banks, shown in the Reserve Bank return for the week ended Monday, March 2, reflect the payment of income tax, for which the last date fell this week. The statement, with variations compared with the week before, is as follows :

LIABILITIES £ £ Variation Gen. reserve . . 1,500,000 Same Bank notes .. 23,410,230 -15,639 Demand liabilities— State . . . . 13,657,394 +1,498,952 Banks . . . . 18,546,038 -2,935,805 Other 240,072 4-4,191 Other currencies 42,209 -155 Other liabilities . 1,243,140 +10,102 Total . . 58,669,083 -1,438,354 ASSETS Reserve — Gold .. 2,801,877 Same Sterling Ex. .. 18,747,167 -701,249 Subsidiary coin .. 75,915 -1,895 -Advances — * Marketing .. 5,883,103 -<06,118 Other . .. 25,750,000 Same Investment . . 4,150,508 Same Other assets . . 1,260,213 +70,908 Total . . 58,669,083 -1,438,354 Proportion of reserve to notes and other demand liabilities, 38.486 per cent (38.823 last week). The principal items in this week's return are compared with those at the corresponding date last year in the following table: — (OOO's omitted) 1942 1941 Variation £ £ £ Notes ~ 23,440 21,264 +2,176 De |t°ite S_ .. 13,657 11,249 +2,408 Banks .. 18,546 15,296 +3,250 Exchange .. 15,747 16,761 +1,986 Advances — Marketing .. 5,583 2.754 +3,09.) Other ..25,750 23,0-10 +2,i10 Ratio (percent) 35.156 40.55S -2.072