THE RESERVE BANK

Waikato Times, Volume 127, Issue 21217, 13 September 1940, Page 7

THE RESERVE BANK

FALL IN STERLING EXCHANGE BANK DEPOSITS LOWER (By Telppraph.—Press Association) WELLINGTON. Thursday The Reserve Bank return for the week ended Monday, September 9, was gazetted to-night. The statement is balanced at £42,212,817, or £1,526,307 less than at the close of the previous week. For the second time in succession, the reserve of sterling exchange has fallen in value by more than £1,000,000, the decrease in this instance having been £1,427,013. Deposits of the trading banks are £1.652,102 lower, this also being the second successive fall of more than £1,000,000. The ratio is 31.486 per cent, compared with 33.713 per cent the previous week. Advances to the Primary Products Marketing Department are £46,770 lower. Those for other purposes remain unchanged at £23,540,000. The statement with variations compared with the week before is as follows:

Proportion of reserve to notes, and other demand liabilities, 31.486 per cent (33.713 last week).

Liabilities Variation General reserve 1,500,000 Demand liabilities— ’ —0,4 3 2 Hanks . .'..'. . .. 4,775,448 —1,652 J 02 Other currencies Other liabilities . 12,000 853,713 trilSJ Total . .^12^gl2’ 817 -1,526,307 Gold . . .. , Sterling: Ex. . , . 2,801,852 . . 0,756,282 Same -1,427,013 -2,172 Advances— MarketingOther .... "IS" Other assets .. ’247’,604 —46,11 3 Total . . 42,212,817 -1,526,307