RESERVE BANK RETURN

Southland Times, Issue 24164, 28 June 1940, Page 3

RESERVE BANK RETURN

RISE IN STERLING EXCHANGE

MARKETING ADVANCES SLIGHTLY HIGHER

(Special to The Times) WELLINGTON, June 27.

An Increase of £196,727 in the sterling exchange held by the Reserve Bank is shown in the return for the week ended June 24. Advances to the Marketing Department are £142,929 higher, but those to the State for other purposes are unchanged at £19,760,000.. A decrease of £465,993 in State deposits is more than offset by a rise of £495,727 in the trading bank’s deposits. The return, with variations compared with the previous week, is as follows:—

Proportion of reserve to notes and other demand liabilities, 42.138 per cent. (41.868 per cent, last week).

LIABILITIES £ Variations. £ General reserve 1,500,000 same Bank notes 18,616,872 +247,758 Demand liabilitiesstate 6,584,846 —465,993 Banks 16,215,093 + 495,727 Other 378,486 + 126,955 Other currencies 16,128 —2,381 Other liabilities 778,862 —7,803 TOTAL 44,090,287 + 394,262 ASSETS £ Variations £ Reserve— Gold 2,801,839 same Sterling exchange 14,825,826 + 196,727 Subsidiary coin 157,588 + 924 Advances— Marketing Dept. 3,756,968 + 142,929 Other <49,760,000 same Investments 2,539,502 +626 Other assets 248,564 —28,778 - — — — ■ - TOTAL 44,090,287 + 394,262