RESERVE BANK

Wanganui Chronicle, Volume 80, Issue 246, 16 October 1937, Page 15

RESERVE BANK

Large Increase In Note Issue STERLING EXCHANGE HIGHER The weekly statement of assets and liabilities of the Reserve Bank of NewZealand, as at the close of business on Monday, October 11, is as follows: — Liabilities. £ s. d. 1. General res. fund 1,500,000 0 0 2. Bank notes 13,081,032 9 0 3. Demand liabilities — (a) State 5,233,653 14 4 (b; Banks 7,168,143 1 0 (c) Other 428,287 3 2 4. Time deposits 5. Liabilities in curccncy 6. Ctl er liabilities 139,226 8 9 £27,550,312 7 3 Assets. 7. Reserve £ s. d. (a) Gold 2,801,791 0 0 (b) Sterling exchange 17,567,432 5 0 (c) Gold exch 8. Subsidiary com 92 331 11 8 9. Discounts—(a) Commcrial & agricultural bills (b) Treasury and local body bills 10. Advances—(a) To the State or State undertakings: <l> Dairy industry a/c ... 3,606,579 10 11 (2) For other purposes 500,000 0 0 (b) To other public authori1 ies (c) Other 11. Investments 2,906,450 0 0 12. Bank buildings 13. Other assets 75,154 18 8 £27,550,342 7 3 Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 78.611 per cent., compared with 78.339 per cent, on October 4. A large increase of £127,026 brings the note issue up to the high level of £13,081,032. Demand liabilities to the State total £5,233,654, an increase of £17,546. The trading banks’ reserve balances at £7,168,143, show a decrease of £183,636. Other demand liabilities total £428,287, an increase of £83,097. Other liabilities at £139,226 are higher by £258.

Sterling exchange amounts to £17,567,432, an increase of £105,132. Gold remains at £2,801,791. Subsidiary coin amounts to £92,634, a decrease of £BB4. Advances to the State dairy industry account total £3,606,879, a decrease of £42,746. Advances to the State for other purposes still stand at £500,000. Investments remain unchanged at £2,906,450. Other assets at £75,155 show a decrease of £17,210. The statement balances at £27,550,342, an increase of £44,292.