Reserve Bank of Australia Annual Report – 1970 Financial Statements Balance Sheets
As at 30 June 1970
Central Banking Business
| Liabilities | 1970 | 1969 |
|---|---|---|
| Capital | 40,000,000 | 40,000,000 |
| Reserve Bank Reserve Fund | 26,663,863 | 23,014,863 |
| Special Reserve—International Monetary Fund special drawing rights | 74,995,029 | — |
| Deposits, bills payable and all other liabilities: | ||
| Statutory Reserve Deposit Accounts of trading banks | 674,520,000 | 565,552,000 |
| Term loan fund accounts of trading banks | 15,166,500 | 25,769,000 |
| Farm development loan fund accounts of trading banks | 9,166,000 | 23,103,000 |
| Other deposits of trading banks | 15,207,982 | 11,516,524 |
| Deposits of savings banks | 613,225,435 | 535,201,097 |
| Deposits of overseas institutions† | 46,030,379 | 59,380,909 |
| Other (including amounts provided for contingencies) | 626,212,993 | 598,574,446 |
| Total | $2,141,188,181 | $1,882,111,839 |
| † This item includes any deposits of governments and central banks of other countries and of international financial institutions. | ||
| Assets | 1970 | 1969 |
|---|---|---|
| Gold, and balances held abroad (including money at short call and treasury bills) | 680,175,616 | 589,082,024 |
| International Monetary Fund special drawing rights | 78,566,458 | — |
| Other overseas securities | 201,530,274 | 231,615,277 |
| Australian notes and coin | 12,613,532 | 8,448,653 |
| Australian Government securities (including treasury bills) | 573,872,526 | 386,005,014 |
| Cheques and bills of other banks | 7,978,133 | 10,811,530 |
| Loans, advances and bills discounted | 445,867,395 | 546,727,619 |
| Bank premises (at cost less amounts written off) | 36,300,997 | 35,012,715 |
| Bills receivable and remittances in transit | 81,125,817 | 51,065,057 |
| All other assets | 23,157,433 | 23,343,950 |
| Total | $2,141,188,181 | $1,882,111,839 |
J.G. PHILLIPS, Chairman, Reserve Bank Board—4 August 1970
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 1970.
V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1970
Note Issue Department
| Liabilities | 1970 | 1969 |
|---|---|---|
| Australian notes on issue† | 1,195,801,548 | 1,091,479,669 |
| All other liabilities (including amounts provided for contingencies)† | 62,545,751 | 45,898,174 |
| Total | $1,258,347,299 | $1,137,377,843 |
| † 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 (including amounts provided for contingencies)”. | ||
| Assets | 1970 | 1969 |
|---|---|---|
| Gold, and balances held abroad (including money at short call and treasury bills) | 189,883,055 | 164,464,867 |
| Other overseas securities | 168,003,078 | 198,477,800 |
| Australian Government securities (including treasury bills) | 606,121,418 | 457,339,992 |
| Balances with Central Bank | 279,458,459 | 303,605,673 |
| Bank premises (at cost less amounts written off) | 382,749 | 266,318 |
| All other assets | 14,498,540 | 13,223,193 |
| Total | $1,258,347,299 | $1,137,377,843 |
J.G. PHILLIPS, Chairman, Reserve Bank Board—4 August 1970
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 1970.
V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1970
RURAL CREDITS DEPARTMENT
| Liabilities | 1970 | 1969 |
|---|---|---|
| Capital | 9,428,000 | 9,428,000 |
| Rural Credits Department Reserve Fund | 9,058,547 | 8,130,518 |
| Rural Credits Development Fund | 1,095,998 | 922,157 |
| All other liabilities (including amounts provided for contingencies) | 338,548,241 | 461,829,264 |
| Total | $358,130,786 | $480,309,939 |
| Assets | 1970 | 1969 |
|---|---|---|
| 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) | 358,130,786 | 480,309,939 |
| Total | $358,130,786 | $480,309,939 |
J.G. PHILLIPS, Chairman, Reserve Bank Board—4 August 1970
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 Department as at 30 June 1970.
V.J.W. SKERMER, Auditor General for the Commonwealth—6 August 1970