THE RESERVE BANK

Waikato Times, Volume 124, Issue 20733, 17 February 1939, Page 9

THE RESERVE BANK

DECREASE IN NOTE ISSUE RISE IN DAIRY ADVANCES (By TelPB-rarn.--Prp*o \ssnrtatlnn> WELLINGTON, Thursday The Reserve Bank return for the week ended Monday. February 1 :j. was gazetted to-night. The statement is balanced at £29,547,028, or £291,309 more than at the close of the previous week. The reserve of sterling exchange has increased by £89.545 compared with the level a week before. Deposits have, however, increased by £430,159, and the note issue has decreased by £95,343- The net result of these movements is that the ratio of reserve to notes and other demand liabilities remains almost unchanged—at 25.073 against 25!074 the week before. Advances have increased by £177,919, those to the Primary Produce Marketing Department by £77.919 and other advances by £IOO,OOO. The latter now stands at the record level of £12,050,000. The statement, with variations compared wih the week before, is as follows : ‘Liabilities

General reserve . .. Bank notes Demand liabilities — State Banks Variation £ £ 1,500,000 Same 15,1 10,912 -95,343 3,504,717 +260,734 9,029.753 +169.425 Other curreneies . . Other liabilities .. 12,666 +1,696 301.805 -31,494 Total 29,547,028 +291,309 Reserve— Sterling Exchange Subsidiary coin . .. Advanees — MarketingOther 4.164.199 +89,545 204,553 -105 6.552.350 +77,919 12,050,000 +100,000 Other assets 121,696 +18,196 Total 29,547,028 +291,309 Proportion of reserve to notes and other demand liabilities, 25.073 per cent (25.074 last week).