RESERVE BANK

Wanganui Chronicle, Volume 86, Issue 229, 29 September 1942, Page 1

RESERVE BANK

STERLING EXCHANGE HIGHER The sterling exenange funds of the Reserve Bank on September 21 totalled £26,699,909. an increase for the week of £1,516,300. The note issue at £26,856.971 has increased by £115.370. The statement, an at Monday, September 21, is as follows: — LIABILITIES

Proportion of reserve to notes and other demand liabilities. 49.471 per cent., compared with 47.250 per cent, on September 14. The reserve on September 21 amounted to £29,452,389, compared with £27,970,085 on September 14, an increase of £1,482,304. A year ago the reserve totalled £18,17ti,340. Sterling exchange on September 21 amounted to £26,699,909, compared with £25.183,609 on September 14, an increase of 11.516,300. Liabilities in currencies other than New Zealand currency were £49,397 (an increase of £33,996), thus making the bank’s net overseas assets £26,650,512, an increase for the week of £1,482,304. A year ago theae assets totalled £15.974,471. Advances to the State Marketing Department total £4,811,485, a further decrease of £1,202,647. A year ago they stoed at £6,687,384. Advances to the State for other purposes remain unchanged at £22,300.000, against £12,500,000 a year ago. 'l‘he note issue on September 21 totalled £26.856,971, an increase for the week of £115,370. A year ago it stood at £22,337,847. Demand liabilities to tne State amount to £8,546,376, a decrease of £1,850,645. The trading banks’ reserve balances total £23,357,396, an increase of £1,956,386. Other demand liabilities at £774.010 have increased by £118,212, The statement, balances at £62.354,027, an increase ot £402,760.

t d. General reserve fund 1.500.000 0 0 Bank notes 26.856,071 10 0 Demand liabilities — (a) State 8.546.375 17 •» (b) Banks 23.337.395 18 9 (c) Other . 774.010 7 6 Lia.ii L cs ether than in N.Z. currency 49 *107 Other liabilities 1.269,876 7 2 £(N.Z.62,354,027 7 0 ASSETS. Reserve — £ R. d. (a) Gohl Z SOI 877 (b) Sterling exchange .... 26,690,908 13 8 Subsidiary coin 5 '*11 Pi Advances— ‘a) To the State: (1- Marketing Dept. .. 4.S11.485 7 9 (2) For other purposes 22.300.000 0 0 Investments 4.146.340 j j 1 Other assets 1.569,203 15 2 £(N.Z.) 62.354.027 7 0