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