Reserve Bank of Australia Annual Report – 1979 Financial Statements Note 5 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 1978/79 reflect:
| Central Banking Business $'000 |
Note Issue Department $'000 |
Rural Credits Department $'000 |
Total $'000 |
|
|---|---|---|---|---|
| Credits from: | ||||
| Appropriations of operating earnings | — | — | 2,306 | 2,306 |
| Revaluation of gold to market | 267,570 | 389,560 | — | 657,130 |
| Net exchange valuation surplus | 47,218 | 57,525 | — | 104,743 |
| 314,788 | 447,085 | 2,306 | 764,179 | |
| Debits for: | ||||
| Net bond dealing losses | 594 | 824 | — | 1,418 |
| Net sundry items | — | 3 | — | 3 |
| Net movement 1978/79 | 314,194 | 446,258 | 2,306 | 762,758 |