THE RESERVE BANK

Waikato Times, Volume 127, Issue 21157, 5 July 1940, Page 10

THE RESERVE BANK

RISE IN DAIRY ADVANCES DECREASE IN STERLING (By Telegraph.—Press Association) WELLINGTON, Thursady The Reserve Bank return for the week ended Monday, July 1, was gazetted to-night. The statement is balanced at £44,174,921, or £84,634 more than at the close of the previous week. The reserve of sterling exchange is £1,405,182 lower in value than on the preceding Monday. Notes and other demand liabilities are £158,853 higher in the aggregate, a fall of £1,190,911 in Government deposits being largely offset by an increase of £1,098,886 in the holdings of the trading banks. The ratio is 38.63 per cent, compared with 42.138 per cent the week before. Advances to the Primary Products Marketing Department are £49,886 higher, while those for other purposes have increased by £1,450,000. The statement with variations compared with the week before is as follows: Liabilities £ £ Variation General reserve .. 1,500,000 Same Bank notes 18,795,324 f 178,4 51 Demand liabilities— State 5,393,935 -1,190,91 1 Banks 17,313.978 f1.U98.850 Otlier 450.913 f 7 2,4 2 7 Other currenccis . 15,353 -57 5 Other libilities . 705,218 f 73,644 Total 44,174,921 f 84,034 Assets Reserve— £ £ Gold 2,801,839 Same Sterling: ex. .. 13.420,644 —1,405,i 82 Subsidiary coin .. 161,071 f 4,083 Advances— Marketing- 3,806,854 t 49,586 Other 21,210,000 +1,450.000 Investment .... 2,542,521 +3,010 Other assets ... 231,392 -17.172 Total 44,174,921 +54.034 Proportion of reserves to notes and other demand liabilities, 38.63 per cent (42.138 last week).