RESERVE BANK OF NEW ZEALAND

PROFIT AND LOSS ACCOUNT FOR YEAR ENDED 31 MARCH 1968

To general charges including salaries, rent, cost
of note issue, overseas debt charges, and other
expenses
To balance of profit for year
$7,615,844.37
3,860,643.80
$11,476,488.17

By balance of profit, after making provision for
rebate on Treasury bills not yet due and for
sundry liabilities and contingencies
$11,476,488.17
11,476,488.17
$11,476,488.17

PROFIT AND LOSS APPROPRIATION ACCOUNT

To payment to New Zealand Government in
terms of section 40 of Reserve Bank of New
Zealand Act 1964
To net increase in liabilities over assets as a
result of devaluation brought to charge in the
period ended 31 March 1968
$5,861,174.92
4,496,467.46
$10,357,642.38

By balance as at 1 April 1967
By balance from Profit and Loss Account
By transfer from Foreign Currency Revaluation
Reserve
$5,861,174.92
3,860,643.80
635,823.66
$10,357,642.38

BALANCE SHEET AS AT 31 MARCH 1968

Liabilities
Notes in circulation
Demand deposits—
(a) State
(b) Banks
(c) Marketing accounts
(d) Other
Liabilities in currencies other
than New Zealand currency—
(a) Demand
(b) Time
Other liabilities
Capital accounts—
(a) General Reserve Fund
(b) Other Reserves
Contingent liabilities:

1. In respect of an investment of 250,000 (stg)
   £1 shares in the Commonwealth Development
   Finance Co. Ltd. of which 10s. per share is
   uncalled (NZ$267,087.50).
2. In respect of an investment of 588,000 $1.00
   shares in the Development Finance Corporation
   of which 75c per share is uncalled.
3. In respect of a guarantee of a foreign
   currency loan, the outstanding balance
   of which amounts to the equivalent of
   NZ$10,128,246.00. The New Zealand Government has indemnified the Bank in respect
   of this guarantee.
   $157,262,967.00
   $98,328,276.67
   8,625,278.02
   4,045,073.82
   115,845,867.60
   226,844,496.11
   $166,546.56
   29,883,096.19
   30,049,642.75
   $3,000,000.00
   13,733,005.87
   16,733,005.87
   $434,802,250.25

Assets
Gold
Overseas assets—
(a) Current accounts and
short-term bills
(b) Investments
New Zealand Coin
Discounts
Advances—
(a) To the State
(b) To marketing accounts
(c) Other
Investments in New Zealand—
(a) New Zealand Government securities
(b) Other
Other assets
N.B.—Holdings of sterling have been converted
into New Zealand currency at the rate of:
stg £100 equals NZ$213.67.
$157,033.04
$120,751,774.47
27,970,243.77
$148,722,018.24
$8,292,976.73
3,600,000.00
$71,961.23
162,720,959.09
46,193,670.00
$208,986,590.32
$56,213,372.80
147,000.00
$56,360,372.80
$8,683,259.12
$434,802,250.25

A. R. LOW, Governor.
R. W. R. WHITE, Deputy Governor.
M. R. HUTTON, Chief Accountant.

AUDITOR'S CERTIFICATE AND REPORT

We have audited the balance sheet as at 31 March 1968 above set forth, and we have obtained all the information and explanations we
have required. In our opinion the balance sheet is properly drawn up so as to exhibit a true and fair view of the state of affairs of the Bank
as at 31 March 1968, according to the best of our information and the explanations given to us and as shown by the books of the Bank.

D. A. F. CROMBIE
F. H. HARRIS
Wellington, 28 June 1968.
Public Accountants.

RESERVE BANK OF NEW ZEALAND

STATEMENT OF ASSETS AND LIABILITIES OF THE RESERVE BANK OF NEW ZEALAND AS AT THE CLOSE OF BUSINESS ON
WEDNESDAY, 10 JULY 1968

Liabilities
Notes in Circulation
Demand Deposits—
(a) State
(b) Banks
(c) Marketing Accounts
(d) Other
Time deposits
Liabilities in currencies other than New Zealand
currency—
(a) Demand
(b) Time
Other liabilities
Capital accounts—
(a) General Reserve Fund
(b) Other Reserves

$154,181,660
$68,606,667
7,158,607
4,829,866
84,162,415

$46,222
25,252,958
25,299,180
$1,637,618
$3,000,000
14,061,427
17,061,427
$362,937,440

Assets
Gold
Overseas assets—
(a) Current accounts and short-term
bills
(b) Investments
New Zealand Coin
Discounts
Advances—
(a) To the State (including Treasury
bills)
(b) To Marketing Accounts
(c) Other Advances
Investments in New Zealand—
(a) N.Z. Government Securities
(b) Other
Other assets
$1,202,076
$118,547,601
27,971,417
$146,519,018
$7,702,766
$41,086
140,433,832
213,670
$140,688,588
$56,997,502
147,000
$57,144,502
$9,680,490
$362,937,440

M. R. HUTTON, Chief Accountant.