Reserve Bank of Australia Annual Report – 1996 Financial Statements Reserves
Note 3 Reserves
Changes in the Bank's various Reserves are shown below.
| 1994/95 $'000 |
1995/96 $'000 |
|
|---|---|---|
| Reserve Bank Reserve Fund (Note 1(e)) | ||
| 593,461 | Opening balance | 593,890 |
| 429 | Transfer of residual funds following closure of Rural Credits Development Fund accounts | – |
| – | Appropriation from profits in terms of section 30 of the Reserve Bank Act | 50,000 |
| 593,890 | As at 30 June | 643,890 |
| 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) | 100,000 |
| 2,855,699 | As at 30 June | 2,955,699 |
| Asset Revaluation Reserves (Note 1(e)) | ||
| Gold | ||
| 3,856,323 | Opening balance | 3,965,109 |
| 108,786 | Net revaluation adjustments | (492,439) |
| 3,965,109 | As at 30 June | 3,472,670 |
| Foreign currency | ||
| (Covers effects of exchange rate movements on investments held in foreign currencies) | ||
| 690,454 | Opening balance | 1,987,501 |
| 1,340,747 | Net revaluation adjustments | (1,316,563) |
| (43,700) | Transfers to earnings – realised (gains)/losses | (1,681,240) |
| – | – unrealised losses (end year) (Notes 1(e), 2) | 1,010,302 |
| 1,987,501 | As at 30 June | nil |
| Investments | ||
| (Covers changes in prices of securities in their local market) | ||
| nil | Opening balance | 80,463 |
| 383,245 | Net revaluation adjustments | 44,952 |
| (302,782) | Transfer to earnings as realised (gains)/losses | (125,204) |
| 80,463 | As at 30 June | 211 |
| Shares in international financial institutions (Note 9) | ||
| 73,200 | Opening balance | 90,769 |
| 17,569 | Net revaluation adjustments | (15,259) |
| 90,769 | As at 30 June | 75,510 |
| Bank premises (Notes 1(d), 6) | ||
| 109,878 | Opening balance | 57,323 |
| (52,534) | Net revaluation adjustments | 165 |
| (21) | Transfers to earnings as realised (gains)/losses | 465 |
| 57,323 | As at 30 June | 57,953 |
| Total Asset Revaluation Reserves | ||
| 4,729,855 | Opening balance | 6,181,165 |
| 1,797,813 | Net revaluation adjustments | (1,779,144) |
| (346,503) | Transfers to earnings – realised (gains)/losses | (1,805,979) |
| – | – unrealised losses (end year) (Notes 1(e), 2) | 1,010,302 |
| 6,181,165 | As at 30 June | 3,606,344 |