TRADING BANKS

Dominion, Volume 35, Issue 259, 31 July 1942, Page 3

TRADING BANKS

'Advances And (Deposits Decrease ■ Decreases in net overseas, funds. advances and deposits are shown in the latest returns ot the trading banks.. The monthly summary of assets and liabilities as at Monday, June 29, published in accordance with the provisions of the Reserve Bank Act, show the following figures In respect ot the six banks: — LIABILITIES. (a) Demand liabilities in N.Z. *60.381,736 . (b) Time liabilities in N.Z 28.082,624 (c) Demand liabilities elsewhere than in N.Z. incurred in respect of N.Z. business <22,012. (d) Tillie liabilities elsewhere than in N'.Z. incurred hr re- . sped of N.Z, business .... 241,t>9’(m) New Zealand business— Excess ot assets over liabilities 19,909,530 Total 109.334.494. ‘lncluding transfers from Bank of NevZealand’s long-term mortgage fund or £36,100. t ASSETS. £ (e) Reserve.balances held in the . Reserve Bank of N.Z 16,6(>5,56i (f) Overseas assets in respect of New Zealand business — (1) in London 10.991.84->. (2) Elsewhere (g> Subsidiary coin in N’.Z. ... (li) Aggregate advances in N.Z. 44,082,911 (h) Aggregate discounts in. N.Z. 237,738. (i) Reserve Bunk .of .N.Z. notes 4,059,6:4 (k) Securities held in N.Z.— (1) Government 27,242.3-->S (2) Other than Government 909,360 (l) Value of land, etc., held in N.Z 1,926,166 ' Total ’7 109,337,494 (hil) Aggregate unexerclsed ■ overdraft authorities J-1.891.504 Overseas Funds Decrease. London funds on June 29 totalled £lo.* 991,845, a decrease of £44)8,139 since. Alay 25. Oversells funds held elsewhere than in London were £2,568,868, a decrease of £362,357, total overseas funds thus being £13,500,713, a decrease of £860,496. Against these funds were demand and time liabilities amounting to £963,604; thus making the' banks’ net overseas assets £.12,597,109. compared with £13.656,634 on May 25, a decrease of £1,059,525. Decrease in Deposits. Demand liabilities' on June 29 were £60,381,736, a decrease of £3,433,439. Time liabilities were £28,082,624, a decrease, ot £226,188. The total of demand and time liabilities was £88,464,360, n decrease of £3,659.627. The total of demand and time liabilities elsewhere than in New Zealand was £963,604. an increase of £199,029. The banks’ excess of assets over liabilities was £14),909,530; an increase of £lOl,250. Reserve balances of the six banks totalled £ 16,6K5,567, a decrease of £3,737,Government securities held by- the banks totalled £27,242,358, a further Increase of £1,305,673. Other securities at £909,360 show a decrease .ot £69. Sllglit Fall in Advances. Aggregate advances oh June 29 were £44,082,911, a slight fall of £170,423. Aggregate discounts at £237,738 were- £68,418 higher. Tlio total of advances and -discounts was £4-1,320,649, a net decrease ot £102,005. The excess of demand and time liabilities over advances and discounts was £44,143,711, compared with £47,701,333 on May 25. The ratio ot advances and discounts to total deposits on June 29 was 50.099 per cent., compared with 48.221 per eeut. on May 25, 52.044 per cent, on April 27, 50.17(> per eent. on March 31. 51.670 per eent. on February 23, ami 5G.567 per cent, on January 20. , , , ~ The aggregate unexerclsed overdraft authorities on June 29- amounted to .£3.>,891,804, a decrease of £1.168,432. The total of advances and discounts and unexercised overdraft, authorities, was £78,212,453, a decrease ot £1,270,437. The active note circulation on June -J was £21,469,172, an increase of £770,274.