Reserve Bank of Australia Annual Report – 1993 Financial Statements Reserves

Note 3 Reserves
Balances of, and movements in, the various reserves are detailed below.

1991/92 $'000   1992/93 $'000
  Reserve Bank Reserve Fund (Note 1(e))
293,461 Opening balance 493,461
200,000 Appropriation from profits in terms of section 30 of the Reserve Bank Act 100,000
493,461 As at 30 June 593,461
  Reserve for Contingencies and General Purposes (Note 1(e))
2,205,699 Opening balance 2,205,699
– Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) 650,000
2,205,699 As at 30 June 2,855,699
  Asset Revaluation Reserves (Note 1(e))
  Gold
3,436,136 Opening balance 3,269,841
(166,295) Net revaluation adjustments 828,455
3,269,841 As at 30 June 4,098,296
  Foreign Currency
  (Covers effects of exchange rate movements on investments held in foreign currencies)  
549,147 Opening balance 2,182,385
1,927,113 Net revaluation adjustments 1,812,316
(293,875) Transfers to earnings as realised (gains)/losses (1,984,944)
2,182,385 As at 30 June 2,009,757
  Investments
  (Covers changes in prices of securities in their local market)  
nil Opening balance 491,195
874,362 Net revaluation adjustments 668,549
(383,167) Transfers to earnings as realised (gains)/losses (548,024)
491,195 As at 30 June 611,720
  Shares in international financial institutions (Note 9)
37,171 Opening balance 34,883
(2,288) Net revaluation adjustments 13,618
34,883 As at 30 June 48,501
  Bank premises (Note 1(d), 6)
336,707 Opening balance 178,473
(158,234) Net revaluation adjustments (including currency translation) (41,275)
– Transfers to earnings as realised (gains)/losses (106)
178,473 As at 30 June 137,092
  Total Asset Revaluation Reserves
4,359,161 Opening balance 6,156,777
2,474,658 Net revaluation adjustments 3,281,663
(677,042) Transfers to earnings as realised (gains)/losses (2,533,074)
6,156,777 As at 30 June 6,905,366