Reserve Bank of Australia Annual Report – 1989 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 11)
As at 30 June 1988	190,568			190,568
Transfer from Rural Credits Department	17,893			17,893
As at 30 June 1989	208,461			208,461
Rural Credits Department Reserve Fund (See Note 11)
As at 30 June 1988			8,714	8,714
Transfer to Reserve Bank Reserve Fund			(4,357)	(4,357)
Transfer to Commonwealth of Australia			(4,357)	(4,357)
As at 30 June 1989			nil	nil
Reserve for Contingencies and General Purposes (See Note 11)
As at 30 June 1988			17,642	17,642
Transfer to Reserve Bank Reserve Fund			(8,821)	(8,821)
Transfer to Commonwealth of Australia			(8,821)	(8,821)
Transfer from earnings in terms of section 78 of the Reserve Bank Act		239,743		239,743
As at 30 June 1989		239,743	nil	239,743
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 11.)
Asset Revaluation Reserves
Gold
As at 30 June 1988	4,141,069			4,141,069
Net revaluation adjustments	(648,340)			(648,340)
As at 30 June 1989	3,492,729			3,492,729
Foreign Currency
As at 30 June 1988	nil			nil
Net revaluation adjustments	65,294			65,294
Transfers to earnings	127,440			127,440
As at 30 June 1989	192,734			192,734

	Central Banking Business $'000	Note Issue Department $'000	Total $'000
Investments
As at 30 June 1988	nil		nil
Net revaluation adjustments	(225,560)		(225,560)
Transfers to earnings	145,623		145,623
Transfer from Provision for the Effects of Movements in Market Yields (See Note 1(f), 5)	79,937		79,937
As at 30 June 1989	nil		nil
Shares in International Financial Institutions (See Note 9)
As at 30 June 1988	50,624		50,624
Net revaluation adjustments	(7,851)		(7,851)
As at 30 June 1989	42,773		42,773
Bank Premises
As at 30 June 1988	153,269	53,358	206,627
Net revaluation adjustments (see Note 1(d), 6)
— market prices	145,410	(14,905)	130,505
— currency translation	(1,486)		(1,486)
Transfers to earnings	(280)		(280)
As at 30 June 1989	296,913	38,453	335,366
Total Asset Revaluation Reserves
As at 30 June 1988	4,344,962	53,358	4,398,320
Net revaluation adjustments	(672,533)	(14,905)	(687,438)
Transfers to earnings	272,783		272,783
Transfers from provisions	79,937		79,937
As at 30 June 1989	4,025,149	38,453	4,063,602