DEPOSITS IN TRADING BANKS RISE AGAIN

Wanganui Chronicle, 17 January 1948, Page 10

DEPOSITS IN TRADING BANKS RISE AGAIN

Deposits in the trading banks expanded in November following a tendency to slip back from the peak levels reached in the middle of 1947. The bank averages for thht month reveal total free and fixed deposits of £167,739,000, an increase of £1,234,000 on the October average and only £1,218,000 lower’ than the June record. Advances continued to expand, but at a rather slower rate. The total of £83,208,000 for November showed an increase of £852.630 for the month, whereas the October figure had expanded by some £3,582.000 over the average for September. The principal items in the return of assets and liabilities of the six trading banks at the close of business on November 26 are compared with those of October 29 in the following table:—

Overseas liabilities on New Zealand account totalled £9.193.628 in November, against £9,067,516 at the end of October. Subsidiary coin was valued at £964.423. compared with £853,857 a month earlier.

November. ' October. £ £ Circulation 40.115,877 40.031.538 Free deposits 126.915,158 125,571,158 Fixed deposits 40,823,419 40,933,541 Advances 83,208.413 82,355,783 London assets .. 18,137,069 17,322,427 Notes of the Reserve Bank held as till money on November 26 were valued at £7.931337. compared with £7,693.810 on October 29. The issue and active circulation at the end of November in the five past years have been;— Issue. Circulation. £ £ 1943 35,423,186 29,738,321 1944 38,211,869 32,844,030 1945 42,794,632 36,388,847 1946 46,206,275 39,055,633 1947 48,047,214 40.115,877 A comparison of aggregate deposits, advances and the excess of deposits in tne November returns since 1943, is as follows: — Deposits. Advances. Excess. £ £ £ 1943 .... 108,773,593 45,415,014 63,358,579 1944 .... 117,376,679 51,238,974 66,137,705 194a .... 139,234,828 52,564,853 86,669,975 1946 .... 156,846,720 64,287,630 92,559,090 1947 .... 167,738,577 83,208,413 84,530,164 Fluctuations in the value of assets held aboard on account of New Zealand business as shown in the November returns in <he cast five years have been-— London. Elsewhere. Total £ £ £ 1943 .... 8,621,806 1,618,158 10,239,964 1944 .... 11,581,431 .1,734,505 13,315,936 1945 .... 10,376,968 2,250,100 12,627.608 1946 .... 12,998,170 2,898,304 15,896,474 1947 .... 18,137,069 4,928,815 23,065,884 Overseas liabilities <>n Npw 7!oaianri