Reserve Bank of Australia Annual Report – 1960 Financial Statements Balance Sheets
As at 30th June, 1960
| Liabilities— CENTRAL BANKING BUSINESS | 1960 | 1959 | |
|---|---|---|---|
| Capital | 4,000,000 | 4,000,000 | |
| Reserve Bank Reserve Fund | 14,562,298 | 20,871,813 | |
| Deposits, bills payable and all other liabilities: | |||
| Statutory Reserve Deposit Accounts of trading banks | 303,125,000 | *250,159,000 | |
| Other deposits of trading banks | 33,133,110 | 29,996,884 | |
| Deposits of savings banks | 136,278,215 | 122,129,467 | |
| Deposits of overseas institutions † | 9,312,407 | 9,381,656 | |
| Other (including amounts provided for contingencies) | 124,616,183 | 135,112,100 | |
| Total | £625,027,213 | £571,650,920 | |
|
* 1959—Special Accounts of trading banks. † This item includes any deposits of governments and central banks of other countries and of international financial institutions. |
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| Assets— CENTRAL BANKING BUSINESS | 1960 | 1959 |
|---|---|---|
| Gold, and balances held abroad (including money at short call and treasury bills) | 245,450,319 | 295,418,893 |
| Other overseas securities | 24,947,434 | 35,075,822 |
| Australian notes and coin | 3,096,150 | 2,339,383 |
| Australian Government securities (including treasury bills) | 257,942,030 | 154,515,977 |
| Cheques and bills of other banks | 2,515,599 | 5,667,860 |
| Loans advances and bills discounted | 76,800,763 | 63,059,318 |
| Bank premises (at cost less amounts written off) | 1,970,017 | 1,274,261 |
| Bills receivable and remittances in transit | 8,040,439 | 9,005,097 |
| All other assets | 4,264,462 | 5,294,309 |
| Total | £625,027,213 | £571,650,920 |
H.C. COOMBS, Chairman, Reserve Bank Board—17th August, 1960
Auditor-General's Report
The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statement shows fairly the state of affairs of the Bank in relation to Central Banking business as at 30th June, 1960.
H.C. NEWMAN, Auditor-General for the Commonwealth—19th August, 1960
| Liabilities— NOTE ISSUE DEPARTMENT | 1960 | 1959 |
|---|---|---|
| Australian notes on issue* | 419,112,018 | 391,457,208 |
| Special Reserve—Premium on gold sold | 4,754,954 | 4,754,954 |
| All other liabilities* | 9,682,905 | 9,716,603 |
| Total | £433,549,877 | £405,928,765 |
| * Australian notes of a denomination not exceeding One pound that have been on issue for more than twenty years and Australian notes of a denomination exceeding One pound that have been on issue for more than forty years are not included in the item “Australian notes on issue” but are included in the item “All other liabilities”. | ||
| Assets— NOTE ISSUE DEPARTMENT | 1960 | 1959 |
|---|---|---|
| Gold, and balances held abroad (including money at short call and treasury bills) | 198,456,658 | 125,415,437 |
| Other overseas securities | 19,991,356 | — |
| Australian Government securities (including treasury bills) | 215,041,502 | 280,456,006 |
| All other assets | 60,361 | 57,322 |
| Total | £433,549,877 | £405,928,765 |
H.C. COOMBS, Chairman, Reserve Bank Board—17th August, 1960
Auditor-General's Report
The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statement shows fairly the state of affairs of the Department as at 30th June, 1960.
H.C. NEWMAN, Auditor-General for the Commonwealth—19th August, 1960
| Liabilities— RURAL CREDITS DEPARTMENT | 1960 | 1959 |
|---|---|---|
| Capital | 4,714,000 | 2,714,000 |
| Rural Credits Department Reserve Fund | 1,491,175 | 1,330,121 |
| Rural Credits Development Fund | 201,046 | 136,821 |
| All other liabilities (including amounts provided for contingencies) | 68,742,090 | 68,395,621 |
| Total | £75,148,311 | £72,576,563 |
| Assets— RURAL CREDITS DEPARTMENT | 1960 | 1959 |
|---|---|---|
| Cash balances | — | — |
| Australian Government securities (including treasury bills) | — | — |
| Loans, advances, bills discounted and all other assets (after deducting provisions for debts considered bad or doubtful) | 75,148,311 | 72,576,563 |
| Total | £75,148,311 | £72,576,563 |
H.C. COOMBS, Chairman, Reserve Bank Board—17th August, 1960
Auditor-General's Report
The above Balance-sheet has been examined and is in agreement with the accounts and records as shown in the books of the Head Office and the certified returns from Branches and Agencies. In my opinion the statement shows fairly the state of affairs of the Department as at 30th June, 1960.
H.C. NEWMAN, Auditor-General for the Commonwealth—19th August, 1960