RESERVE BANK

Wanganui Chronicle, Volume 80, Issue 265, 8 November 1937, Page 11

RESERVE BANK

Increases in Advances to State LONDON FUNDS LOWER The weekly statement of assets and liabilities of the Reserve Bank of New Zealand as at the close of business on Monday, November 1, is as follows: — Liabilities. £ s. d. 1. General res. fund 1,5(H).000 i» 0 2. Bank notes 13,263,633 0 0 3. Demand liabilities—(a) Stale 4,631,169 7 11 (b) Banks 7,921,957 2 3 (c) Other 405,364 2 8 4. Time deposits 5. Liabilities in currency 6. Other liabilities 146,485 18 1 £27,868,609 10 11 Assets. 7. Reserve— £ s. d. (a) Gold 2,801,791 0 0 (b) Sterling exchange 17,148,967 8 5 (c) Gold exch 8. Subsidiary coin 86,054 3 11 9. Discounts—(a) Commerial & agricultural bills - (b) Treasury and local body bills 10. Advances—(a) To the State or State undertakings: <l> Dairy industry a/c ... 4,400,703 1 6 (2) For other purposes 700,000 0 0 (b) To other public authorities (c) Other 11. Investments 2,658,325 0 0 12. Bank buildings 13. Other assets 72,768 17 1 £27,868,609 10 11 Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 76.083 per cent., compared with 78.861 per cent, on October 25. Advances to the State show a total increase of £834,318in this week’s statement. Advances to the State dairy industry account total £4,406.703, an increase of £634,318. An increase of £200,000 is shown in advances to the State for other purposes which now total £700,000. Sterling exchange totals £17,148,967, a decrease of £446,367. Gold still remains unchanged at £2,801,791. Subsidiary coin has decreased by £283 and now amounts to £86,054. Investments are unchanged at £2,658,325. Other assets total £72,769, a decrease of £144,412. A decrease of £10,058 brings the note issue down to £13,263,633. Demand liabilities to the State total £4,631,169, a decrease of £229,594. The trading banks’ reserve balances at £7.921,957 show an increase of £532,833. Other demand liabilities amount to £405,364, an increase of £64,604. Other liabilities total £146,486, a decrease of £114,529. The statement balances at £27,868,609, an increase of £243,256.