Reserve Bank of Australia Annual Report – 1980 Financial Statements Reserves for Contingencies and General Purposes

Note 5 Reserves for contingencies and general purposes

Amounts provided for contingencies from operating earnings have been approved by the Treasurer in terms of Section 78 of the Reserve Bank Act 1959.

Movements in these reserves over 1979/80 reflect:

Central
Banking
Business
$'000
Note
Issue
Department
$'000
Rural
Credits
Department
$'000
Total
$'000
Credits from:
Appropriations of operating earnings 13,195 6,412 2,287 21,894
Revaluation of gold at market 819,504 1,360,957 2,180,461
832,699 1,367,369 2,287 2,202,355
Debits for:
Net exchange valuation deficit 14,535 48,070 62,605
Net bond dealing losses 13,195 19,923 33,118
Net sundry items (8) 45 (2) 35
Net movement 1979/80 804,977 1,299,331 2,289 2,106,597