Bank ratio 22p.c.
PA Wellington The Governor of the Reserve Bank, Mr R. A. Wilks, has announced that the trading bank reserve asset ratio for July, 1983, will be 22 per cent. The ratio for June was 16 per cent.
Mr Wilks said that the June ratio allowed for the possibility that the Kiwi Savings Stock issue might have remained open until the end of the month. In the event, the issue was closed on June 16, and
this, with an improvement in the external accounts more rapid than expected, has meant that the “free” reserves outcome for June will be significantly higher than normal. The increase in the ratio for July is intended to absorb these extra “free” reserves, as well as the expected growth in the banks’ reserves during the month.
“It does not represent a tightening in monetary policy,” Mr Wilks said.
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Press, 30 June 1983, Page 23
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145Bank ratio 22p.c. Press, 30 June 1983, Page 23
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