New Zealand Gazette – 1959 – No. 57

Page 1333

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✨ Reserve Bank Notice

SUPPLEMENT

TO THE

NEW ZEALAND GAZETTE

THURSDAY, 17 SEPTEMBER 1959

Published by Authority

WELLINGTON: FRIDAY, 18 SEPTEMBER 1959

Reserve Bank of New Zealand

Pursuant to section 45 of the Reserve Bank of New Zealand Act 1933 (as amended by section 23 of the Reserve Bank of New Zealand Amendment Act 1936), the Governor of the Reserve Bank, acting with the authority of the Minister of Finance, hereby gives notice that, as from 21 September 1959, the balance to be maintained in the Reserve Bank by each other bank for the time being carrying on business in New Zealand in accordance with the said section 45 shall be such that, when added to that bank’s holding of Reserve Bank notes, it shall be equal to not less than 30 per cent of its demand liabilities in New Zealand, plus 10 per cent of its time liabilities in New Zealand, as shown in the last preceding monthly return furnished by that bank in accordance with section 46 of the Reserve Bank of New Zealand Act 1933:

Provided that the minimum balance to be maintained at the Reserve Bank shall not be less than 7 per cent of its demand liabilities in New Zealand, plus 3 per cent of its time liabilities in New Zealand.

For the purpose of this calculation a bank's holding of Reserve Bank notes shall be as shown in the latest available weekly return provided under the Statistics Act 1955.

E. C. FUSSELL, Governor of the Reserve Bank.

Reserve Bank of New Zealand, Wellington, 16 September 1959.

Price 6d.

BY AUTHORITY: R. E. OWEN, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1959

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VUW Te Waharoa — NZ Gazette 1959, No 57

NZLII — NZ Gazette 1959, No 57

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✨ LLM interpretation of page content

💰 Reserve Bank of New Zealand - Balance Requirements for Banks

Domain💰 Finance & Revenue
Dated16 September 1959
KeywordsReserve Bank, Banking, Balance requirements, Demand liabilities, Time liabilities, Reserve Bank notes, Monthly return, Weekly return
👩‍💼 Officials

E. C. Fussell, Governor of the Reserve Bank

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