THE MONEY MARKET

Dominion, Volume 32, Issue 148, 18 March 1939, Page 14

THE MONEY MARKET

Bank Of England Return NOTE CIRCULATION LOWER By Telegraph.—Press Assn.—Copyright. LONDON, -March IG. The Bank of England return for the week ended March I's is as follows: — Issue Department.

Bank and Market. Kates. LONDON. March 15. The Bank of England rate of discount is 2 per cent., to which it was reduced from 24 per cent, on June 30, 1932. Discount and short-loan interest rates are quoted as follows: Day-to-day loans, i per cent.; fine trade bills, three months, 2| to 3 per cent.; bank bills, three months, 9-16 per' cent. ; six months, f per cent.; Treasury bills,, two mouths. 9-16 per cent., three months, 9-16 per cent. NEW YORK, March 15. Call money is quoted unchanged at 1 per cent.

Notes issued: Govt, debt 11,000,000 In circuOther Govt. lation 477.200,000 securities 288.300,000 In bankOther ing dept. 48,800.000 securities — Silver coin 700,000 '£300,000,000 Gold coin & bullion 226,000,000 £526.000,000 1 £ 526,000,000 'Amount of fiduciary issue. Banking Department. 4? £ Capital . 14,500,000 Govt. Rest .. 3,700.000 securities 97,500,000 Deposits: Discts., Public . 10,500,000 advances 1,700,000 Bankers 106,500,(100 Other Other securities 21,700,000 a/cs. 35,500,000 Nates and coin 49,800,000 £170,700,000 £170,700,000 Proportion of reserve to liabilities, 32.6b per cent., compared with 33.10 per cent. last week. The principal items of the above return coinpare as follows with those or last week: — Mar. 8. Alar. 15. Deposits: £ £ Public 11,400,000 10,500,000 Bankers 97,400,000 100,500,000 Other accounts .. 35,800,000 35,500,000 £144,600,000 £152,500,000 Securities: Government .... 89,200,000 97,500,000 Discte., advances 3,400,000 1,700,000 Other securities . 22,400,000 21,700,000 Reserve 47,800,000 49,800,000 Note circulation .. 479,200,000 477,200,000 Gold coin & bullion 226,000,000 226,000.000