THE RESERVE BANK

Waikato Times, Volume 125, Issue 20993, 21 December 1939, Page 14

THE RESERVE BANK

BIG RISE IN NOTE ISSUE DAIRY ADVANCES DECREASE WELLINGTON, Wednesday The Reserve Bank return for the week ended Monday, December 18, was issued to-night. The statement is balanced at £36,361,363, or £801,533 more than at the close of the previous week. The sterling exchange reserve at £8,273,056 is £2,068,322 higher in value than on the previous Monday. Notes and other demand liabilities are £803,575 higher in the aggregate than the week before, the principal movement being an increase of £1,010,384 in the note issue. The ratio is 32.379 per cent, compared with 26.933 per cent in the preceding week . Advances to the Primary Products Marketing Department have been reduced £2,024,323 in the week the statement covers. Those for other purposes are £850,000 higher. The statement with variations compared with the week before is as

Proportion of reserve to notes and other demand liabilities, 32.379 per cem (26.933 last week).

follows:— £ Variation £ General reserve . 1,500,1100 Bank notes . . . . 18,976,7 16 Demand liabilities— . 2,823,160 . 12,219,176 -418,142 Banks 7211,333 Other 110,373 -27,4 86 Other currencies . 14,462 -1,000 other liabilities . 68 7,476 726,4 44 Total , 36,361,363 7801,533 Reserve— Assets Gold . 2,SOI,839 Sterling- ex. 8,273,056 72,068,322 Subsidiary coin . 165,00S -11,193 Advances— Marketing - 3,301,947 -2,024,323 Other 18,325,000 3,313,947 7850,000 Investment .. .. -63,251 other assets .... 180,566 -18,022 Total 36,361,363 7801,533