Reserve Bank of Australia Annual Report – 1995 Financial Statements Reserves
Note 3 Reserves
| 1993/94 $'000 | 1994/95 $'000 | |
|---|---|---|
| Changes in the Bank's various Reserves are shown below. | ||
| Reserve Bank Reserve Fund (Note 1(e)) | ||
| 593,461 | Opening balance | 593,461 |
| – | Transfer of residual funds following closure of Rural Credits Development Fund accounts | 429 |
| – | Appropriation from profits in terms of section 30 of the Reserve Bank Act | – |
| 593,461 | As at 30 June | 593,890 |
| Reserve for Contingencies and General Purposes (Note 1(e)) | ||
| 2,855,699 | Opening balance | 2,855,699 |
| – | 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 | ||
| 4,098,296 | Opening balance | 3,856,323 |
| (241,973) | Net revaluation adjustments | 108,786 |
| 3,856,323 | As at 30 June | 3,965,109 |
| Foreign currency | ||
| (Covers effects of exchange rate movements on investments held in foreign currencies) | ||
| 2,009,757 | Opening balance | 690,454 |
| (662,896) | Net revaluation adjustments | 1,340,747 |
| (656,407) | Transfers to earnings as realised (gains)/losses | (43,700) |
| 690,454 | As at 30 June | 1,987,501 |
| Investments | ||
| (Covers changes in prices of securities in their local market) | ||
| 611,720 | Opening balance | nil |
| (836,194) | Net revaluation adjustments | 383,245 |
| (451,983) | Transfers to earnings – realised (gains)/losses | (302,782) |
| 676,457 | – unrealised losses (end year) (Notes 1(e), 2) | – |
| nil | As at 30 June | 80,463 |
| Shares in international financial institutions (Note 9) | ||
| 48,501 | Opening balance | 73,200 |
| 24,699 | Net revaluation adjustments | 17,569 |
| 73,200 | As at 30 June | 90,769 |
| Bank premises (Notes 1(d), 6) | ||
| 137,092 | Opening balance | 109,878 |
| (27,166) | Net revaluation adjustments | (52,534) |
| (48) | Transfers to earnings as realised (gains)/losses | (21) |
| 109,878 | As at 30 June | 57,323 |
| Total Asset Revaluation Reserves | ||
| 6,905,366 | Opening balance | 4,729,855 |
| (1,743,530) | Net revaluation adjustments | 1,797,813 |
| (1,108,438) | Transfers to earnings – realised (gains)/losses | (346,503) |
| 676,457 | – unrealised losses (end year) (Notes 1(e), 2) | – |
| 4,729,855 | As at 30 June | 6,181,165 |