THE RESERVE BANK

Waikato Times, Volume 124, Issue 20820, 2 June 1939, Page 9

THE RESERVE BANK

DECREASE IN NOTE ISSUE FALL IN DAIRY ADVANCES (By TeJp*rar>t>—Press Association) WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, May 29, was gazetted to-night. The statement is balanced at £31,017,958, a decrease of £461,523. The sterling exchange reserve has decreased by £194,338 to £4,564,206. Demand liabilities have decreased slightly in the aggregate. Increases of £285,692 in Government deposits and £804,166 in other demand liabilities are more than counterbalanced by a decline of £106,016 in the value of the note issue, and of £1,199,395 in the deposits of the trading banks. The ratio is 25.136 per cent, compared with 25.611 per cent in the previous week’s return. Advances to the Primary Produce Marketing Department have fallen by £32,987 to £7,492,349, while other advances are £150,000 lower at £12,025,000. The statement with variations compared with the week before is as follows ;

LiabilitiM Variation General reserve £ £ .. 1,500,000 Bank notes . . 1 5,572,050 -106,016 Demand liabilities— State 2,594,5-13 12 8 5,6 9 2 Banks 9,428,779 -1,199,395 1801,166 -681 Other currencies . 42,897 Other liabilities 341,009 -245,289 Total .. 31,017,958 -461,523 Assets Reserve— Sterling- Ex. .. 3,564,206 -194,338 Subsidiary coin Advances— .. 222,832 -63 Marketing . .. 7,492,349 -32,987 Other .. 12,025,000 -150,000 Investment .. . Same Other assets . .. 140,943 -84,135 Total .. 31,017,958 -461,523 Proportion of reserve to notes and other dcmanc liabilities, 2 5.136 per cent (25.611 last week).