Reserve Bank of Australia Annual Report – 1978 Financial Statements Aggregate Profit and Loss Appropriation Statement
For Year Ended 30 June 1978
| 1978 | 1977 | ||
|---|---|---|---|
| Net profits appropriated as follows: | |||
| Central Banking Business | |||
| Commonwealth of Australia | 21,044 | 14,832 | |
| Note Issue Department | |||
| Commonwealth of Australia | 161,812 | 111,168 | |
| Rural Credits Department | |||
| Rural Credits Department Reserve Fund | 1,300 | 1,200 | |
| Rural Credits Development Fund | 1,300 | 2,600 | 1,200 |
| Total | 185,456 | 128,400 | |
| $'000 | ||
|---|---|---|
| Assets | 1978 | 1977 |
| Gold and foreign exchange (Note 2) | ||
| Gold | 1,224,797 | 274,237 |
| International Monetary Fund special drawing rights | 112,985 | 26,877 |
| Foreign exchange holdings | 1,709,860 | 2,165,458 |
| Australian government securities (Note 3) | ||
| Treasury bills | 1,500,000 | 1,300,000 |
| Treasury notes | 162,359 | 133,524 |
| Other Commonwealth securities | 2,703,471 | 2,771,632 |
| Loans, advances and bills discounted | 707,011 | 975,011 |
| Bank premises (Note 4) | 72,479 | 65,575 |
| Clearing items (remittances in transit, cheques and bills of other banks) | 371,015 | 237,384 |
| Other assets (Note 5) | 114,824 | 106,770 |
| Unfunded adjustments arising from fluctuations in exchange rates (Note 7) | – | 53,386 |
| Total | 8,678,801 | 8,109,854 |
H.M. Knight
Chairman, Reserve Bank Board – 28 July 1978
| 1978 | 1977 | |
|---|---|---|
| Net profits (after deducting amounts written off bank premises and amounts provided for contingencies and general purposes) (Notes 1, 4 and 6) | ||
| Central Banking Business | 21,044 | 14,832 |
| Note Issue Department | 161,812 | 111,168 |
| Rural Credits Department | 2,600 | 2,400 |
| Total | 185,456 | 128,400 |
H.M. Knight
Chairman, Reserve Bank Board – 28 July 1978