New Zealand Gazette – 1985 – No. 142

Page 3275

✨ Banking Statistics and Tribunal Decision



1 AUGUST
THE NEW ZEALAND GAZETTE
3275

The Tribunal is not prepared to grant the present application now.

As the application was made in 1981, in 1985 it is not appropriate to defer a decision even further.

If we were to do so, in order to reconsider it in 1986, together with a review of frequencies, it would be out of date. A new application would be needed.

We have therefore resolved to decline the application.

That does not put out of question another application. This application has enabled us to assess the desirability of the proposal and to identify its weaknesses. We have also been able to put it in the context of the public interest—and in particular in relation to use of the frequency spectrum which is a publicly owned resource. Once committed by the grant of a warrant a frequency cannot be taken away without assigning another.

The proposal we were asked to approve would constrict future frequency use and planning.

We appreciate that this long awaited decision will be a disappointment to many enthusiastic supporters of and in Radio Rhema. We have been anxious to be just to their ambitions but ultimately the public interest must predominate.

A wider look at the Auckland situation in the next period will enable a more coherent approach and, we hope, longer lasting solutions to the competing claims of so many present and future applicants for a voice in Auckland.

Co-opted Members—The Tribunal co-opted Mr Henshall as a person whose qualifications or experience were likely, in the opinion of the Tribunal, to be of assistance to the Tribunal in dealing with the application. He took part in the hearing and the deliberations of the Tribunal, but the decision is that of the permanent members.

Dated the 4th day of July 1985.

Signed for the Tribunal:

B. H. SLANE, Chairman.

AMENDED SUMMARY OF TRADING BANKS’ MONTHLY RETURNS OF PRINCIPAL LIABILITIES AND ASSETS IN RESPECT OF NEW ZEALAND BUSINESS AS AT CLOSE OF BUSINESS ON 27 FEBRUARY 1985

In accordance with subsection (4) of Section 31 of the Reserve Bank of New Zealand Act 1964
(All amounts in New Zealand Currency)

LIABILITIES*
(N.Z.$ thousands)

Australia and New Zealand Banking Group (New Zealand) Limited Bank of New Zealand The National Bank of New Zealand Limited Westpac Banking Corporation TOTALS
1. Demand deposits in New Zealand $ 641,059 $ 1,079,089 $ 445,455 $ 573,293 $ 2,738,896
2. Time deposits in New Zealand 1,577,475 3,095,813 1,272,220 1,540,095 7,485,603
3. Liabilities elsewhere than in New Zealand incurred in respect of New Zealand business 92,300 115,028 114,673 319,110 641,111
4. Bills payable and all other liabilities in New Zealand, including balances due to other banks but excluding shareholders’ funds 66,705 28,126 7,974 26,470 129,275

ASSETS**
(N.Z.$ thousands)

Australia and New Zealand Banking Group (New Zealand) Limited Bank of New Zealand The National Bank of New Zealand Limited Westpac Banking Corporation TOTALS
1. Balances at Reserve Bank of New Zealand—
(a) Demand deposits 4 4 388 1 397
(b) Time deposits
2. Reserve Bank of New Zealand notes 16,446 26,025 7,202 7,297 56,970†
3. New Zealand coin 1,501 3,785 1,742 1,400 8,428
4. Assets elsewhere than in New Zealand held in respect of New Zealand business 180,100 268,925 166,329 298,343 913,697
5. Advances in New Zealand and discounts of bills payable in New Zealand (excluding advances and discounts included under item 6)—
(a) Advances 950,426 1,839,004 738,365 820,991 4,348,786
(b) Discounts 64,101 135,761 54,410 49,631 303,903
6. Term loans in New Zealand 800,862 1,264,124 592,692 746,417 3,404,095
7. Investments held in New Zealand—
(a) Government securities
(i) Treasury Bills 48,140 253,046 68,607 76,234 446,027
(ii) Government Stock 403,780 735,387 274,093 430,308 1,843,568
(b) Other Investments 77,124 177,050 29,690 22,725 306,589
8. Cheques and bills drawn on other banks in New Zealand and balances with and due from other banks in New Zealand (excluding balances with Reserve Bank of New Zealand) - 5,643 15,395 - 21,038
9. Book value of land, buildings, furniture, fittings, and equipment in New Zealand 21,179 111,073 79,424 57,941 269,617
10. All other assets in New Zealand 14,780 - 30 23,054 37,864

Aggregate of Unexercised Overdraft Authorities and Term Loan Authorities in New Zealand $3,112,080.

*Excluding shareholders’ funds, contingencies, inter-branch accounts within New Zealand, and certain transit items.

**Excluding inter-branch accounts within New Zealand, contingencies, and certain transit items.

†New Zealand Gazette, 28 March 1985, No. 53, page 1426.

Wellington, N.Z., 22 March 1985.

K. G. MORRELL, Chief Manager, Financial Markets Department, Reserve Bank of New Zealand.



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✨ LLM interpretation of page content

🏗️ Broadcasting Tribunal Decision on Radio Rhema Ltd. Application (continued from previous page)

🏗️ Infrastructure & Public Works
4 July 1985
Broadcasting Act 1976, Radio Rhema Ltd., Broadcasting Tribunal, sound radio warrant, Auckland, Whangarei, Hamilton, Tauranga
  • Henshall (Mr), Co-opted member of the Broadcasting Tribunal

  • B. H. Slane, Chairman of the Broadcasting Tribunal

💰 Amended Summary of Trading Banks' Monthly Returns of Principal Liabilities and Assets

💰 Finance & Revenue
22 March 1985
Banking, Liabilities, Assets, Reserve Bank of New Zealand, Financial Markets
  • K. G. Morrell, Chief Manager, Financial Markets Department, Reserve Bank of New Zealand