RESERVE BANK OF N.Z.

Auckland Star, Volume LXXI, Issue 225, 21 September 1940, Page 5

RESERVE BANK OF N.Z.

STERLING ASSETS RECOVER. Ihc statement of assets* and liabilities of the .Reserve Bank of New Zealand at the close of business on September 16 has been received by Press Association from Wellington. The chief features arc an increase of £6">>.Go9 in the liabilities ill other currencies, a rise of £751.000 in .State demand liability*, of i'oOO.OOO in advances for other than marketing purposes and of £401.000 in sterling a^ets. Comparisons with last week's figures are: — LIABILITIES. Variation £ £ General reserve 1.500.000 Same Bank notes 20.028,467 -r 29,867 Demand liabilitiesState 5.535.410 -J- 750.832 Banks H. 516.298 —259.150 Other 159.922 —128.526 Other currencies 634.609 4-622 609 Other liabilities 832,918 —20,918 Total 43,207,653 +994,836 ASSETS. Reserve— Gold 2.801.852 Same Sterling exchange ... 10,217.038 -r-460,756 Subsidiary coin 113,572 —776 AdvancesMarketing 3.247.788 4-28.276 other 24,040.000 + 500,000 Investment 2.553,219 + 20.000 Other assets 234.182 —13,422 Total 43.207,653 +994,836 Proportion of reserve to notes and other demand liabilities, 30.776 per cent (31.480 last week). Three Years Compared. The following table shows the position Ol the bank's funds at this date lor the past three years (in thousands of pounds.) : — 1938 1939 1940 Bank notes 13,566 16.423 20.028 Deposits— State 3.704 1,528 5,535 Banks 5,943 12.249 14.516 Exchange 12.247 5.299 10,217 Advances— Marketing 3.281 4,770 3,278 Other 3.800 15,600 24.040 Ratio (p.c.) 63.85 26.365 30.776