RESERVE BANK REPORT

Wanganui Chronicle, Volume 85, Issue 229, 29 September 1941, Page 3

RESERVE BANK REPORT

INCREASE IN STERLING EXCHANGE The sterling exchange ol , lhc Bank ot New Zealand last Monday totalled £l5 991,722, an increase for the week Ot £1 478,834?’ The bank's net overseas assets at £15,974,471 have ■—%;sed by £1.471.702. The note if»sue totalled £22,337.847. an increase of £195.651. Advances to the State MarketingDepartment at £6,657.384, have decreased oy £274,121 while advances to the State for other purposes are unchanged at £12,500.000. The statement of assets and liabilities as at the close of business on Monday, September 22, is a 6 follows: —

•Expressed in N.Z. currency. Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 45.637 per cent., compared with 43.337 per cent, on September 15. The reserve last Monday amounted to £18,776.345, compared with £17,304.643 on September 15, an increase of £1,471,702. A. year ago the reserve was £12,891,195. Sterling exchange last Monday totalled £15,991,722, compared with £14,512,888 on September 15, an increase of £1,478,834. Liabilities in currencies other than New Zealand currency were £17,251 (an increase of £7132), thus making the bank’s net overseas assets £15,974,471, compared with £14,502,769 on September 15, an increase of £1,471,702. A year ago the bank’s net overseas assets amounted to £lO,089,343, and on September 24, 1939, they totalled £5,295,291. The bank's gold holding remains unchanged at £2,801,874. Subsidiary coin is shown at £44,945, a decrease of £lOl5. Advances on the State Marketing Depan ment total £6,687,384, a decrease for the week of £274,121. A year ago these advances amounted to £3,034,082. Advances to the State for purposes other than marketing are unchanged a r £12,500,900. A year ago they totalled £24.040.000, Other Advances are unchanged at £200,009 , Investments at £3,822,859 are unchanged. Other assets amount to £1,830,379, an increase of £255,399. The note issue last Monday totalled £22,337.847, an increase for the week ot £195.651. A year ago the note issue amounted to £20,099,247. Demand liabilities of the State amount to £7,722,715, a decrease of £1,298,056. The trading bank’s reserve balances total £10,319. 702. an increase of £2,263,803. Other demand liabilities amount to £762,846, an increase of £51.610. Other liabilities total £1,218,802, an increase of £238.957. The statement balances at >*£.879,163, an increase of £1,459,096.

Liabilities £ s. d. 1. General Reserve Fund .. 1.500,000 0 0 2. Bank notes .. 22.337.S47 0 0 3. Demand Liabilities — (a) State 7,722,714 11 U (h) Banks 10,319,702 <» 4 (c) Other 762,845 19 10 4. Time deposits 5. Liabilities in currencies other than N.Z. currency 17.251 0 3 6. Other liabilities 1,218,801 14 i £(N.Z. 143,879.162 12 11 7. Reserve— £ “■ (a) Gold 1( ! 0 *(b) Sterling exchange .. 15,991.722 8 9 (c) Gold exchange . . . —- ( S. Subsidiary coin .. .. . 41,941 11 J 9. Discounts — (a) Commercial & Agricultural Bills .. .. ‘ 10. Advances — (a) To the State or State undertakings--(1) Marketing Dept. 6,687,383 13 8 (2) For other purposes 12,500,000 0 0 (b) To other Public Authorities ■ (c) Other , 200,000 o 0 11. Investments 3,822,858 14 1 12. Bank buildings 13. Other Assets 1,830,378 14 8 £(N.Z.)43,879.162 12 11