THE RESERVE BANK

Waikato Times, Volume 125, Issue 20910, 15 September 1939, Page 12

THE RESERVE BANK

INCREASE IN NOTE ISSUE (By Telegraph.—Press Association) WELLINGTON, Thursday The Reserve Bank return for the week ended Monday, September 11, was gazetted to-night. The statement is balanced at £32,593,449, an increase of £159,283 on the previous week’s figure. While State deposits reveal a fall of £507,519, those of the trading banks have risen by an almost equal amount. With an increase of £161,046, the note issue has been lifted to over £16,000,000, but the reserve ratio is slightly higher at 27.658 per cent. The principal movement in assets is a gain of £409,548 in sterling exchange, which amounts to £5,681,358. The marketing account has contracted by £222,467 on the previous week’s total, while advances for other purposes are unchanged. The statement with variations compared with the week before is as follows :

Proportion of reserve to notes and other demand liabilities, 27.658 per cent (26.456 last week)

Liabilities Variation 1 £ £ General reserve .. 1,500,000 Same Dank notes 16,105,225 tl61,046 Demand liabilities— St-ate 1,221,486 -507,519 Banks 12,927,597 + 454,148 Other 360,952 too,547 Other currencies .. 15,492 -1,793 Other liabilities .. 462,697 -2,146 Total 32,593,449 + 159,283 Assets ReserveGold 2,801,839 Same Sterling- Exchange 5,681,356 +409,548 Subsidiary coin .. 248,749 -5,91 1 Advances— Marketing 5,106,655 -222,467 Other 14,850,000 Same Other assets 83,976 21,887 Total 32,593,449 +159,283