STERLING FUNDS DOWN; NOTE ISSUE INCREASES
Sterling exchange held by the Reserve Bank of New Zealand decreased by £N.Z.344,943 in the week ended June 16. In the same period the note issue expanded by 1N.ZJ29.063. The assets and liabilities of the bank as at June 16. together with the weekly averages for 1939 and 1947. were as follows:
Week Aver. Aver, ended (N.Z. millions) 1939 1947. June 9 LiabilitiesReserve Fund 1.50 1.50 1 50 Bank notes 16.08 47 68 48.24 Demand liabilities State 2.77 13.26 11.37 Bank 10.75 57.10 58.18 Diner . .31 .48 .45 Other curreneies 03 .09 .11 Other liabilities . .47 3.32 4.43 Assets— Reserves— Gold 2.80 2.80 2.80 Sterling . 5.31 85.30 79.15 Subsidiary coin . . .22 .05 .11 Advances to StateMarketing G.09 1 16 .28 Other 13.59 28.51 29 00 Other advances . . Oil .01 2.92 Investments ... 3.66 4.58 7.87 Other assets 17 1.05 1 15 ■Ratio, p.c .. . 27.00 74.04 G9.21 * Proportion of reserve to notes and other demand liabilities.
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Wanganui Chronicle, 28 June 1948, Page 8
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160STERLING FUNDS DOWN; NOTE ISSUE INCREASES Wanganui Chronicle, 28 June 1948, Page 8
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