✨ Banking Regulations
SUPPLEMENT
TO THE
NEW ZEALAND GAZETTE
OF
THURSDAY, 29 JUNE 1961
Published by Authority
WELLINGTON: TUESDAY, 4 JULY 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 Governor of the Reserve Bank, acting with the authority of the Minister of Finance, hereby gives notice that, as from 4 July 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 27 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, 4 July 1961.
Price 6d.
BY AUTHORITY: R. E. OWEN, GOVERNMENT PRINTER, WELLINGTON, NEW ZEALAND—1961
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VUW Te Waharoa —
NZ Gazette 1961, No 42
NZLII —
NZ Gazette 1961, No 42
✨ LLM interpretation of page content
💰 Reserve Bank Balance Requirements Adjustment
💰 Finance & Revenue4 July 1961
Banking, Reserve Requirements, Demand Liabilities, Time Liabilities
- E. C. Fussell, Governor of the Reserve Bank