Reserve Bank of Australia Annual Report – 1994 Financial Statements Reserves

Note 3 Reserves

Changes in the Bank's various Reserves are shown below.

1992/93 $'000   1993/94 $'000
  Reserve Bank Reserve Fund (Note 1(e))
493,461 Opening balance 593,461
100,000 Appropriation from profits in terms of section 30 of the Reserve Bank Act –
593,461 As at 30 June 593,461
  Reserve for Contingencies and General Purposes (Note 1(e))
2,205,699 Opening balance 2,855,699
650,000 Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) –
2,855,699 As at 30 June 2,855,699
  Asset Revaluation Reserves (Note 1(e))
  Gold
3,269,841 Opening balance 4,098,296
828,455 Net revaluation adjustments (241,973)
4,098,296 As at 30 June 3,856,323
  Foreign currency
  (Covers effects of exchange rate movements on investments held in foreign currencies)  
2,182,385 Opening balance 2,009,757
1,812,316 Net revaluation adjustments (662,896)
(1,984,944) Transfers to earnings as realised (gains)/losses (656,407)
2,009,757 As at 30 June 690,454
  Investments
  (Covers changes in prices of securities in their local market)  
491,195 Opening balance 611,720
668,549 Net revaluation adjustments (836,194)
(548,024) Transfers to earnings – realised (gains)/losses (451,983)
– – unrealised losses (end year) (Notes 1(e), 2) 676,457
611,720 As at 30 June nil
  Shares in international financial institutions (Note 9)
34,883 Opening balance 48,501
13,618 Net revaluation adjustments 24,699
48,501 As at 30 June 73,200
  Bank premises (Notes 1(d), 6)
178,473 Opening balance 137,092
(41,275) Net revaluation adjustments (27,166)
(106) Transfers to earnings as realised (gains)/losses (48)
137,092 As at 30 June 109,878
  Total Asset Revaluation Reserves
6,156,777 Opening balance 6,905,366
3,281,663 Net revaluation adjustments (1,743,530)
(2,533,074) Transfers to earnings – realised (gains)/losses (1,108,438)
– – unrealised losses (end year) (Notes 1(e), 2) 676,457
6,905,366 As at 30 June 4,729,855