THE MONEY MARKET

Dominion, Volume 33, Issue 187, 4 May 1940, Page 14

THE MONEY MARKET

Bank Of England Return NOTE CIRCULATION RISING By Telegraph—Press Assn.—Copyright. LONDON, May 2. The Bank of England return for the week ended May 1 is as follows: — Is-suo Depart incut. Notes issued: Govt, debt H.UIio.OUO In circu- Other Govt. lalion 541,060,00(1 securities 565,100,000 In bank- Other suing dept. 30.200,000 curities 3.400,000 Silver coin 500,000 *£580.000.000 Gold coin .t bullion 200.000 £580.200.000 .C 550.200.000 •Amount of fiduciary issue. Banking Department. Capital .. 14,500,000 Govt, isecuRest .... 3.200,000 rilles ... 130.000.000 Deposits: Discts.. adPublic . IW.SOO.OIK> vances .. 5,1100.1)00 Bankers 125,400.000 Other secuOther acs. 44.900.000 rities .. 22,(1'10.000 Notes and coin ... 40.300.000 £ 207,500,000 £207,800.000 Proportion of reserve to liabilities. 21.20 per cent., compared with 23.85 per cent, last. week. The principal items of the above return compare as follows with those of last week: — April 2-1. May 2. Deposits: -£ Public .... 40,700,000 10,800,000 Bankers " 103,500.000 125.400,000 Other accounts . 40.600,000 44,000,000 £184,800,000 £190.100.000 Securities: Government. ... 130,600,000 139,000,000 Discts., advances 4,900,000 5.900,000 Otiier securities 22,800,000 22.000,000 Reserve 44,100,000 40,300.000 Note circulation . 537,100,000 541,000,000 Gold coin & bullion 200,000 200,000 LONDON. May 2. The Bank of England rate of discount is unchanged nt 2 per cent. Discount and short loan ra.tes on the London market compare with those of April 25 as follows: — Apr. 25. May 2. p.c. p.c. Day to day loans ‘J £ Fine trade bills (3 mos.) 24 to 3 2 2 - to 3 Bank bills (3 mos.) .... 11-16 1 1-16 Bank bills (6 mos.) .... 11-8 11-8 Treasury bills (2 mos.) 1 1 Treasury bills (3 mos.) 1 I , NEW YORK, May 2. Call money is unchanged at 1 per cent.