-B—l6

Liabilities in New Zealand

The trading banks' advances and discounts increased from £(N.Z.)46,896,000 to £(N.Z.)55,148,000 during the year. The wide distribution of this increase is shown below in an analysis of the trading banks' advances classified by industrial and occupational groups. The total outstanding at the end of March, "1945, showed an increase of £(N.Z.)5,053,000 over the previous month, due in some considerable measure to the demand for bank advances to meet income-tax payments. Investments in Government securities declined by £(N.Z.)7,115,000 in March, 1945, when Treasury bills held by the trading banks were redeemed. Net overseas assets hold by the trading banks as agents for the Reserve Bank increased by £(N.Z.)4,039,000 to £(N.Z.)15,623,000 in the year. Though the banks' demand liabilities in New Zealand rose by over £(N.Z.)B-5 millions during the year, the influence of Victory Loan subscriptions in October, 1944, and income-tax payments in March, 1945, is shown in the reductions which occurred during those months. Time liabilities for the year showed a net increase of £(N.Z.)1,114,000. CLASSIFICATION OF TRADING BANKS' ADVANCES AS AT LAST MONDAY IN MARCH (£(N.Z.)OO(J) 1944. 1945. Farmers .. .. .. .. .. .. .. 17,397 18,721 Industries allied to primary production .. .. .. 8,319 10,073 Other manufacturing and productive industries .. .. 4,840 6,709 Merchants and wholesalers .. .. .. .. .. 2,930 3,141 Retailers .. .. .. .. .. .. .. 2,025 2,790 Transport.. .. .. .. .. .. .. 386 684 Local bodies, municipal authorities, public utility concerns, &c. .. 319 468 Stock and station agents .. .. .. .. .. 844 970 Hotels (public and private), restaurants, &c. .. .. .. 956 1,167 Entertainment concerns .. .. .. .. .. 253 290 Financial companies, societies, &c. .. .. .. .. 737 1,069 Religious and charitable .. .. .. .. .. 206 196 Professional .. .. .. .. .. .. 1,176 1,377 Private individuals.. .. .. .. .. 4,778 5,560 Miscellaneous .. .. .. .. .. .. 1,706 1,687 Total advances .. .. .. .. .. 46,872 54,902

5

(£(N.Z.)000) t ,, n, „ j . M ,, Demand Time Total Demand and ' 0 cl^1 01 " Liabilities. Liabilities. Time Liabilities. 1944 March .. .. .. 85,091 29,723 114,814 April .. .. .. 88,815 29,774 118,589 May .. .. .. 89,847 30,142 119,989 June .. .. .. 90,372 30,409 120,781 July .. .. .. 90,099 30,689 120,788 August .. .. .. 91,606 30,940 122,546 September .. .. .. 89,869 31,071 120,940 Octobcr .. .. .. 83,848 31,049 114,897 November .. .. .. 86,165 31,211 117,377 December .. .. .. 90,134 31,430 121,563 1945 January .. .. .. 93,633 31,067 124,700 February .. .. .. 97,637 30,092 128,539 March .. .. .. 93,656 30,837 124,493