THE RESERVE BANK

Waikato Times, Volume 127, Issue 21199, 23 August 1940, Page 7

THE RESERVE BANK

RECORD NOTE ISSUE dairy advances lower (By Telegraph. — Press Association) WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, August 19, was gazetted to-night. The statement if balanced at £44,510,841, or £635,551 more than at the close of the previous week. The sterling exchange reserve at £12,192,412 is £39,875 lower in value than on the preceding Monday. The note issue has increased by £221,408 to the record total of £20,000,890. Deposits of the trading banks are £507,365 higher, while the Government holdings have fallen in level by £211,868. The ratio is 35.557 per cent, against 36.154 per cent last week. Advances to the Primary Products Marketing Department are lower by £204,864, while those for other purposes are £820,000 higher. The statement, with variations compared with the week before, is as follows:

Liability* Variation £ £ General reserve .. 1,500,000 Same Bank notes 20,000,580 1221,40* Demand liabilities— State 4,878,715 -211,86* Banks 16,926,786 1507,36* Other 323,563 172,02* Other currencies .. 14,629 -966 Other liabilities .. 867,656 147.677 Total 44,510,841 1635,551 Assets Reserve— Gold 2,801,851 Same Sterling Exchange 12,192,412 —30,87* Subsidiary coin . . . 125,751 -etr Advances— Marketing 3,336,003 -204,864 other 23,240,000 t 82 0.0 00 Investment 2,543.804 same Other assets 271,020 161,111 Total 44,510,841 1635,551 Proportion of rese no to notes and «.;tiep demand liabilities, 3: >.r>57 per cei last week).