Reserve Bank of Australia Annual Report – 1988 Financial Statements Note 3 Reserves

  Central
Banking
Business
$'000		 Note
Issue
Department
$'000		 Rural
Credits
Department
$'000		 Total $'000
Balances of, and movements in, the various reserves are detailed below.
Reserve Bank Reserve Fund
(See Note 10)
As at 30 June 1987 130,568     130,568
Transfer from Rural Credits Department 60,000     60,000
Appropriation from profits in terms of Section 30 of the Reserve Bank Act nil     nil
As at 30 June 1988 190,568     190,568
Rural Credits Department Reserve Fund
(See Note 10)
As at 30 June 1987     38,522 38,522
Transfer to Reserve Bank Reserve Fund     (16,000) (16,000)
Transfer to Commonwealth of Australia     (16,000) (16,000)
Appropriation from profits in terms of Section 63 of the Reserve Bank Act     2,192 2,192
As at 30 June 1988     8,714 8,714
Reserve for Contingencies and General Purposes
(See Note 10)
As at 30 June 1987     105,642 105,642
Transfer to Reserve Bank Reserve Fund     (44,000) (44,000)
Transfer to Commonwealth of Australia     (44,000) (44,000)
Transfer from earnings in terms of Section 78 of the Reserve Bank Act     nil nil
As at 30 June 1988     17,642 17,642
The transfers from Rural Credits Department were effected under a direction of the Treasurer in terms of Section 65A of the Reserve Bank Act dealing with winding-up procedures for Rural Credits Department. (See Note 10.)
Asset Revaluation Reserves
Gold
As at 30 June 1987 4,583,266     4,583,266
Net revaluation adjustments (442,197)     (442,197)
As at 30 June 1988 4,141,069     4,141,069
Foreign Currency
As at 30 June 1987 543,986     543,986
Net revaluation adjustments (826,400)     (826,400)
Transfers to earnings (142,074)     (142,074)
Transfer from Provision for the Effects of Movements in Exchange Rates (See Note 1(f), 5) 424,488     424,488
As at 30 June 1988 nil     nil
Investments
As at 30 June 1987 141,562     141,562
Net revaluation adjustments 176,458     176,458
Transfers to earnings (339,894)     (339,894)
Transfer from Provision for the Effects of Movements in Market Yields (see Note 1(f), 5) 21,874     21,874
As at 30 June 1988 nil     nil
Shares in International Financial Institutions
(See Note 8)
As at 30 June 1987 81,593     81,593
Net revaluation adjustments (30,969)     (30,969)
As at 30 June 1988 50,624     50,624
Bank Premises
As at 30 June 1987 154,233 53,358   207,591
Currency translation adjustments (751) nil   (751)
Transfer to earnings (213) nil   (213)
As at 30 June 1988 153,269 53,358   206,627
Total Asset Revaluation Reserves
As at 30 June 1987 5,504,640 53,358   5,557,998
Net revaluation adjustments (1,123,859) nil   (1,123,859)
Transfers to earnings (482,181) nil   (482,181)
Transfers from provisions 446,362 nil   446,362
As at 30 June 1988 4,344,962 53,358   4,398,320