Reserve Bank of Australia Annual Report – 1978 Financial Statements Note 6 Reserves for contingencies and general purposes
Amounts provided for contingencies from operating earnings have been approved by the Treasurer in terms of Section 78 of the Reserve Bank Act 1959.
Movements in these reserves over 1977/78 reflect:
| Central Banking Business $'000 |
Note Issue Department $'000 |
Rural Credits Department $'000 |
Total $'000 |
|
|---|---|---|---|---|
| Credits from: | ||||
| Appropriations of operating earnings | – | – | 2,633 | 2,633 |
| Revaluation of gold to market | 450,074 | 515,322 | – | 965,396 |
| Balance of exchange valuation gains after clearance of past losses | 75,201 | – | – | 75,201 |
| Net bond dealing gains | 3,688 | 4,251 | – | 7,939 |
| 528,963 | 519,573 | 2,633 | 1,051,169 | |
| Debits for: | ||||
| Clearance of unfunded exchange valuation adjustments | – | 396 | – | 396 |
| Net sundry items | 118 | 14 | (2) | 130 |
| Net movement 1977/78 | 528,845 | 519,163 | 2,635 | 1,050,643 |