Reserve Bank of Australia Annual Report – 1968 Annual Accounts Central Banking Business

As at 30 June 1968

Liabilities   1968 1967
Capital   40,000,000 40,000,000
Reserve Bank Reserve Fund   20,118,863 28,829,863
Deposits, bills payable and all other liabilities:  
Statutory Reserve Deposit Accounts of trading banks   456,379,000 473,772,000
Term loan fund accounts of trading banks   49,078,000 38,214,000
Farm development loan fund accounts of trading banks   44,722,000 31,853,000
Other deposits of trading banks   24,094,596 28,852,525
Deposits of savings banks   495,759,545 492,500,018
Deposits of overseas institutions†   8,431,287 19,524,971
Other (including amounts provided for contingencies)   319,208,935 335,763,369
  total $1,457,792,226 $1,489,309,746
†This item includes any deposits of governments and central banks of other countries and of international financial institutions.
Assets   1968 1967
Gold, and balances held abroad (including money at short call and treasury bills)   349,304,166 396,899,549
Other overseas securities   182,045,378 168,807,475
Australian notes and coin   9,460,582 12,435,566
Australian Government securities (including treasury bills)   536,238,777 420,649,143
Cheques and bills of other banks   7,986,983 9,206,921
Loans, advances and bills discounted   247,887,204 380,361,874
Bank premises (at cost less amounts written off)   33,785,290 30,861,704
Bills receivable and remittances in transit   75,254,101 54,332,403
All other assets   15,829,745 15,755,111
  Total $1,457,792,226 $1,489,309,746

J.G. PHILLIPS, Chairman, Reserve Bank Board—2 August 1968

Auditor General's Report

The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches. In my opinion the statement shows fairly the state of affairs of the Bank in relation to Central Banking Business as at 30 June 1968.

V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1968

Note Issue Department

Liabilities   1968 1967
Australian notes on issue†   998,499,714 930,083,034
Special Reserve—Premium on gold sold   —— 9,509,909
All other liabilities†   20,320,045 2,107,000
  Total $1,018,819,759 $961,699,943
† Australian notes of a denomination not exceeding One pound that have been on issue for more than twenty years and Australian notes of a denomination exceeding One pound that have been on issue for more than forty years are not included in the item “Australian notes on issue” but are included in the item “All other liabilities”.
ASSETS   1968 1967
Gold, and balances held abroad (including money at short call and treasury bills)   315,473,605 394,521,951
Other overseas securities   151,425,055 174,783,125
Australian Government securities (including treasury bills)   500,983,313 391,706,405
Bank premises (at cost less amounts written off)   177,449 150,670
All other assets   50,760,337 537,792
  Total $1,018,819,759 $961,699,943

J.G. PHILLIPS, Chairman, Reserve Bank Board—2 August 1968

Auditor General's Report

The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statement shows fairly the state of affairs of the Department as at 30 June 1968.

V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1968

RURAL CREDITS DEPARTMENT

Liabilities   1968 1967
Capital   9,428,000 9,428,000
Rural Credits Department Reserve Fund   7,317,609 6,582,346
Rural Credits Development Fund   803,197 721,936
All other liabilities (including amounts provided for contingencies)   212,040,617 344,242,057
  Total $229,589,423 $360,974,339
ASSETS   1968 1967
Cash balances   —— ——
Australian Government securities (including treasury bills)   —— ——
Loans, advances, bills discounted and all other assets (after deducting provisions for debts considered bad or doubtful)   229,589,423 360,974,339
  Total $229,589,423 $360,974,339

J.G. PHILLIPS, Chairman, Reserve Bank Board—2 August 1968

Auditor General's Report

The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statement shows fairly the state of affairs of the Department as at 30 June 1968.

V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1968