RESERVE BANK.

Manawatu Standard, Volume LX, Issue 126, 27 April 1940, Page 5

RESERVE BANK.

RISE IN STERLING EXCHANGE. DAIRY ADVANCES LOWER. An increase of £800,847 in Ihe sterling exchango funds of the Reserve Bank of New Zealand brought the total last Monday up to £13,683.506. Dairy advances were lower by £49,491, while advances to the State for other purposes remained unchanged at £19,410,000. The note issuo at £17,945,723 was down by £21,829. State deposits were lower by £151.230, and the trading banks’ cash reserves stood at £15.430,116. The statement of assets and liabilities of the Reserve Bank as at the close of business on Monday, April 22, is as follows : LIABILITIES. £ s d

Proportion of reserve (No. 7 less No. 5) to notes and other demand liabilities, 40.927 per cent., compared with 39.592 per cent on April 15. The reserve on Monday amounted to £16,471.946. compared with £15.675,365 on April 35, an increase of £796,081. A year ago t.ho reserve was £7,433,700. and on April 25, 1938, it totalled £21.128.478. Sterling exchange, expressed in New Zealand currency, on Monday amounted to £13,683,505, ‘ compared with £12,882.659 on April 15, an increase of £800,847. Liabilities in currencies other than Now Zealand currency on Monday totalled £13,399 (an increase of £4766), thus making the bank’* net overseas assets. £13,670.107, compared with £12.874,026 on April 15, an increase of £796,034. A yoar ago the bank’s net overseas assets were £4,631,909, and on April 25, 1938, they totalled £18,326,687. Gold remains unchanged at £2.801,8*59. Subsidiary coin totals £160,990, a decrease of £5372. ]>airy advances total £3,431,971, connpared with £3,481,462 on April 15, a decrease of £49,491. Advances to the Stale for other purposes are unchanged at £19,410,000. A year ago these advances totalled £l2 075 000. Investments at £2,978,640 show a decrease of £81,464. Other assets amount to £240,563, an increaso of £11,388.. The note issue on Monday totalled £17,945,723, a further decrease of £21,’829’ A year ago the note issue was £15,653.762. ' , , Demand liabilities to the S-atc on Monday were £6,725,839, a- decrease of £151,230. The trading banks’ reserve balances stood at. £15,430,116, a decrease of £123,390. Other demand liabilities were £145,817, a decrease of £49,739. Other liabilities totalled £946,624, an increase of £17.302 . ’The statement balances at £42,707,517, an increase of £675,907.

1. 2. 3. 4. 5. 6. General reserve fund .... 1.500,000 0 0 Bank notes 17,945,723 0 0 Demand liabilities — (a) State 6,725,838 15 6 (b) Banks 15,430,115 14 1 (c) Other 145,816 13 4 Time deposits — Liabilities in currencies other than N.Z. currency 13,398 16 10 Other liabilities 946,623 11 7 £(N.Z.)42.707,516 11 4 ASSISTS. 7. Reserve — £ s (a) Gold 2.801.839 0 0 *(b) Sterling exchange 13,683,505 15 2 (c) Gold exchange — 8. Subsidiary coin ICO,997 16 C 9. Discounts— (a) Commercial a n d agricultural bills .... — (b) Treasury and local body bills — 10. Advances— (a) To the State or State undertakings: (1) Marketing Dept. 3,431,971 0 7 (2) Bor other purposes 19,410,000 0 0 (b) To other public authorities — (c) Other — 11. Investments 2,978,640 7 8 12. Bank buildings — £(N.Z.)42,707,516 11 4