New Zealand Gazette – 1961 – No. 23

Page 521

✨ Reserve Bank Notice

No. 23 521

SUPPLEMENT

TO THE

NEW ZEALAND GAZETTE

WEDNESDAY, 29 MARCH 1961

Published by Authority

WELLINGTON: THURSDAY, 30 MARCH 1961

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 Deputy Governor of the Reserve Bank, acting with the authority of the Minister of Finance, hereby gives notice that, as from 30 March 1961, 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 15 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.

G. WILSON, Deputy Governor of the Reserve Bank.
Reserve Bank of New Zealand, Wellington, 30 March 1961.

Price 6d. BY AUTHORITY: R. E. OWEN, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1961

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✨ LLM interpretation of page content

💰 Reserve Bank Notice on Minimum Balances

Domain💰 Finance & Revenue
Dated30 March 1961
KeywordsReserve Bank, minimum balance, demand liabilities, time liabilities, banking regulations
👩‍💼 Officials

G. Wilson, Deputy Governor of the Reserve Bank

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