TRADING BANKS

Wairarapa Times-Age, 24 November 1939, Page 9

TRADING BANKS

MONTHLY RETURNS. DECREASE TN OVERSEAS ASSETS. (By Telegraph—Press Association.) WELLINGTON. This Day. A large decrease in net overseas assets, a decrease in advances, a substantial rise in deposits and also in Government securities and a decrease in the note circulation are the features of the latest monthly returns of the six New Zealand trading banks. Demand liabilities, or current account balances in New Zealand on October 30 were £38,150,747, compared with £37,412,533 on September 25, an increase of £738,214. Time liabilities, or fixed deposits, in New Zealand on October 30 were £30,627,502. compared with £30,226.482 on September 30, an increase of £401.020. The total of demand and time liabilities in New Zealand on October 30 was £68.778,249, compared with £67.639.015 on September 25, an increase of £1,139,234. The banks’ overseas funds have increased by £74.465 since September 25. but their overseas liabilities have risen during the same period by £329,072. thus making a net decrease of £254,607 in their net overseas assets. These totalled £3.023,255 on October 30, compared with £3.277,862 on September 25. London funds on October 30 totalled £4,714,458, compared with £4.577,000 on September 25, an increase of £137,458. Overseas funds elsewhere than in London amounted to £1,666,764, compared with £1,729.757. a decrease of £62.993. Total overseas funds, London and elsewhere, on October 30. were £6.381,222, compared' with £6.306.757 on September 25. an increase of £74.465. Against the total overseas funds, however, there were on October 30 demand and time liabilities amounting to £3,357,967. thus making the banks’ net overseas assets £3,023,255, compared with £3,277.862 on September 25, a decrease of £254,607.