THE MONEY MARKET
Bank of England Return NOTE CIRCULATION HIGHER By Telegraph.—Press Assn.— Copyright. London, December 27. The Bank of England return for the week ended December 211 is as follows:—
Short Loans and Bills. The Bank of England rate of discount was reduced to 2 per cent, as from June 30, 1931. . Short loans are quoted at 1 1-8 per cent., compared with 31432 per cent, last week. The market rate of discount for best three months’ bills is 10-33 per cent., compared with 17-02 per cent, last week. - The bank’s note circulation at £405,163,800 stands at a new record high level this week. During the? last four’weeks it has expanded by £25,476,852 due to Christmas trade currency demands. The proportion of reserve to liabilities has fallen to 55.10 per cent., compared with 47.10 per cent, four weeks ago.
Issue Department. Notes issued: £ £ 11,045,100 In circulation 405,163,800 In banking dept. 47,108,837 Govt, debt Other Govt. securities Other • 245,558,411 081,139 securities Silver coin 2,445,350 •£260,000,000 Gold coin & bullion 192,272,637 £452,272,637 £452,272,637 •Amount of fiduciary, issue. Banking Department. 9 x? £ Capital 14,553,000 Govt. 87,541,413 Rest 3,430,737 securities Deposits: Dlscts., 7,578,577 Public 9,878,304 advances Bankers 89,139,575 Other 10,667,289 Other securities a/cs. 36,404582 Notes.. 47,108,837 7-day etc. , Gold and 516,142 ! bills — silver coin £153,412,258 £153,412,258 Pro-portion of reserve to liabilities, 3«>.1O per cent., compared with 37.30 per ceiit. last The principal items of the above return compare as follow with those of last week: Dee. 19. Dec. 26. Deposits: £ £ Public 8,389,542 9,878,364 Bankers ' 90,732,832 89,139,575 Other accounts . : 37,000,474 36,404,582 £186,122,848 £135,422,521 Securities: ' 87,541,413 Government .. 83341,413 Dlscts., advances 7,024,2'33 7,578,577 Other securities 12,406,594 10,667,289 Reserve ! 50,781,004 47,624,070 Note circulation . 4013)90,743 405,163,800 Gold coin & bullion 102,216,618 102,272,637
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Dominion, Volume 28, Issue 81, 29 December 1934, Page 14
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282THE MONEY MARKET Dominion, Volume 28, Issue 81, 29 December 1934, Page 14
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