RESERVE RANK.

Manawatu Standard, Volume LX, Issue 137, 10 May 1940, Page 10

RESERVE RANK.

DECREASE IN STERLING FUNDS. NOTE ISSUE LOWER. A decrease of £189,941 brought the sterling exchange funds of the Reserve Bank of New Zealand on Monday down to £13,658,465. Dairy advances are higher by £94,121, but advances to the State fer other purposes are unchanged at £19,360,000. Tho note issue total £17,925,943, a further decrease of £19,297. The statemont of assets and liabilities of the Reserve Bank as at tho close of business oil Alonday, Alay 6, is as follow :

‘Expressed in New Zealand currency. Proportion of reserve (No. 7 less No. 6) to notes and other demand liabilities, 41.419 per cent., compared with 41.289 per cent, on April 29. The reserve on Alonday amounted 1o £16,450,366, compared with £16,637,719' on April 29, a decrease of £187,353. A year ago the reserve was £7.461.316 and on May 8, 1938, it totalled £20,262,9731 Sterling oxcliangc on Alonday amounted to £13,658.465, compared with £13,848,405 on April 29, a decrease of £189,941. Liabilities in currencies other than New Zealand currency on Alonday were £9938 (a decrease of £2588), thus reducing the bank's net overseas assets to £13.648.527, compared with £13,835,880 on April 29, a decrease of £187,353. A year ago the bank’s not overseas assets amounted to £4,659,477, and on Alav 8, 1938, they totalled £17,461,132. " '

The hank’s gold holding remains unchanged at £2,801,839. Subsidiary coin ou Monday totalled £158,920, a decrease of £3960. Advances to the State Alarketing Department on - Alonday stood at £3,512,259, an increase of £94,121. Advances to the Stato for other purposes remain unchanged at £19.360,000. ■ Investments again show a decrease, Alonday’s total of £2,535,304 being £422,245 less than on April 29. Other assets total £177,680, a decrease of £36,148. The note issue on Monday totalled £17,925.943. a further decrease of £19,297. Demand liabilities to the State total.cd £5.931,084, a decrease of £897,047. The trading banks’ balances totalled £15,694,062, an increase of £348,292. Other demand liabilities amounted to £166,197, a decrease of £10,634. Other liabilities totalled £977,242, a further increase of £23,103. Tho statement balances at £42,204,467, a decrease of £558,172.

I. LIABILITIES. £ s d General reserve fund .... 1,500.000 0 0 2. Bank: notes 17,925,943 10 0 3. Demand liabilities— 4. (a) State 5,931,084 6 1 (b) Banks 15,694,062 7 2 (c) Other 156,197 8 9 Time deposits — 5. Liabilities in currencies 6. oilier than N.Z. currency ; 9,938 6 10 Other liabilities 977,241 11 0 7. £N.Z.42,204,647 9 10 ASSETS. Reserve-- £ ad 8. (i) Gold 2.801.839 0 0 (b) Sterling exchange *13,658,465 6 10 (cl Gnld exchange — Subsidiary coin 158,919 13 11 9. Discounts— 10. (a) Commercial a n cl agricultural bills — (b) Treasury and local body bills — Advances — 11. (a) To the State or State undertakings: (1) Marketing Dept. 3,512,259 6 9 (e) l<’or other purposes 19,360,000 0 0 (b) 'To other public authorities — (c) Other — Investments 2,535,303 18 8 12. Batik buildings — 13. Other assets 177,680 3 8 £N.Z.42,204,647 9 10