THE RESERVE BANK

Waikato Times, Volume 127, Issue 21187, 9 August 1940, Page 7

THE RESERVE BANK

FALL IN DAIRY ADVANCES LOWER STATE DEPOSITS (By Telegraph.—Press Association) WELLINGTON, Thursday The Reserve, Bank return for the week ended Monday, August 5, was gazetted to-night. The statement is balanced at £44,031,558, or' £6802 more than on the previous Monday. The sterling exchange reserve is £65,475 higher in value than in the previous return, while the gold reserve shows one of its infrequent movements, an increase of £ll. Notes and other demand liabilities are little changed in the aggregate, the principal movement, an increase of £400,167 in trading bank holdings, being largely counter-balanced by a fall of £393,416 in Government deposits. The ratio is 38.02 per cent, compared with 37.856 per cent the previous week. Advances to the Primary Products Marketing Department are £245,147 lower, while those for other purposes have increased £250,000. The statement with variations compared with the week before is as follows:

Total 44,031,558 t 6,802 Proportion of reserve to notes and other demand liabilities, 38.02 per cent (37.856 last week).

Liabilities Variation £ £ General reserve .. Bank notes 19,718,751 195.315 Demand liabilities— State 4,762,939 -393,416 Banks 17,146,533 1400,167 Other Other currencies .. Other liabilities .. 734,820 f 1 0,235 Total 44,031,558 16.802 Assets Reserve— Gold 2,801,851 fll Sterling- Ex. .. 13,092,952 165,475 Subsidiary coin .. Advances— Marketing 3,370,928 -245,147 Other 21,860,000 t250,000 Investment Other assets 224,356 -01,075