RESERVE BANK.

Manawatu Standard, Volume LX, Issue 131, 3 May 1940, Page 10

RESERVE BANK.

FURTHER RISE IN STERLING. STATE ADVANCES LOWER. A further increase of £164.901 in the sterling exchango funds of the Reserve Bank of Now Zealand brought the total last Monday up •to £13,848,406. Dairy advances are lower by . £13,833, the total being £3,418,138. Advanees to the State for other purposes at £19,360,000 shew a doorcase of £50,000. The note issue shows little change at £17,945,240. The statement of assets and liabilities of the Reserve Bank as at the close of business on Monday, .April 29, is as follow :

*Expressed in N.Z. currency. Proportion of reserve (No. 7, less No. 5) to notes and other demand liabilities, 41.289 per cant., compared with 40.227 per cent, on April 22. The reserves on Monday amounted to £16,637,719, compared with £16,471,946 on April 22, an increase of £165,773. A year ago the reserve was £7,590,871 and on May 2, 1938, it totalled £20,429,234. Sterling exchange, expressed in New Zealand currency, on Monday amounted to £13,848,406, compared with £13,683,506 on April 22, an increase of £164.901.' Liabilities in currencies other than New Zealand currency on Monday were £12,526 (a decrease of £872), thus making the bank's net overseas assets £13.835.880, compared with £13.670,107 on April 22, an increase of £165,773. A year ago tho hank’s net overseas assets totalled £4,789.032 and on Mnv 2, 1938, they were £17,627,443. Tho bank’s gold holding remains unchanged at £2.801,839. Subsidiary coin amounts to £162.879, an increase of £lBBl. Advances to the State Marketing Department total £3,418,138, a decrease of £13.833. A rear ago those advances totalled £7,366.996. Advances to the State for oilier pur-po-os amount to £19,260.000, a decrease of £50,000. A veer ago those advances totalled £12,075,000. Investments at £2.957,548 show a further decrease of £21,092. Other assets total £213.828, a decrease of £26.734. The note issue on Monday totalled £17,945,240. a decrease of £482. A voar ago. tho noto issue stood at £15,717,266. Demand liabilities to the State at £6.828,131 show an iucreaso of £102,292. The trading hanks’ reserve balances totalled £15.345.770. a decrease of £84.364. Other demand liabilities amounted to £176,831, an increase rf £31,015. Other liabilities totalled £954,140, an increase cf £7517. Tho statement balances at £42,762,639, an increase of £55,123.

LIABILITIES. £ s d 1, General reserve fund .... 1.500,000 0 0 2. Bank notes 17,945,240 10 0 3. Demand liabilities— (a) Slate 6,828.130 19 10 (b) Banks 15,345,769 18 7 (e) Other 176,831 9 5 4. Time deposits —: 5. Liabilities in currencies other than N.Z. currency 12,526 7 4 6. Other liabilities 954,140 4 8 £N.Z.42,762,639 '9 10 . 7. ASSETS. Reserve- - £ 9 cl hi Gold 2.801,839 0 0 (b) Sterling: exchange *13,848,406 10 2 8. (c) Gold exchange — Subsidiary coiii 162,879 5 1 9. Discounts— (a) Commercial and agricultural bills .... — (b) Treasury and local 10. body bills — 1 Advances— (a) To the State or State undertakings: (1) Marketing Dept,. 3,418,137 16 (2) For other purposes 19,360,000 0 4 0 11. (b) To other publio authorities — (c) Other — Investments 2,957,548 11 7 12. Bank buildings — 13. Other assets 213,828 6 8 £N.Z.42,762,639 9 10