Reserve Bank of Australia Annual Report – 1987 Financial Statements Reserves

Note 3 Reserves

  Central
Banking
Business
$'000		 Note
Issue
Department
$'000		 Rural
Credits
Department
$'000		 Total
$'000
Balances of, and movements in, the various reserves are detailed below. (See also Note 1(a).)
Reserve Bank Reserve Fund
(See also Note 10)
As at 30 June 1986 115,568     115,568
Appropriation from profits in terms of Section 30 of the Reserve Bank Act 15,000     15,000
As at 30 June 1987 130,568     130,568
Rural Credits Department Reserve Fund
(See also Note 10)
As at 30 June 1986     35,001 35,001
Appropriation from profits in terms of Section 63 of the Reserve Bank Act     3,522 3,522
As at 30 June 1987     38,522 38,522
Reserve for Contingencies and General Purposes
(See also Note 10)
As at 30 June 1986     95,342 95,342
Transfer from earnings in terms of Section 78 of the Reserve Bank Act     10,300 10,300
As at 30 June 1987     105,642 105,642
Asset Revaluation Reserves
Gold
As at 30 June 1986 1,813,507 1,833,200   3,646,707
Net revaluation adjustments 465,605 470,954   936,559
Transfer from Note Issue Department to Central Bank (Note 1(a)) 2,304,154 (2,304,154)   —
As at 30 June 1987 4,583,266 —   4,583,266
Foreign Currency
As at 30 June 1986 2,239,695     2,239,695
Net Revaluation Adjustments 247,992     247,992
Transfers to earnings (1,943,701)     (1,943,701)
As at 30 June 1987 543,986     543,986
Investments
As at 30 June 1986 81,028 72,552   153,580
Net revaluation adjustments (26,121) 7,686   (18,435)
Transfers to earnings 4,847 1,570   6,417
Transfer from Note Issue Department to Central Bank (Note 1(a)) 81,808 (81,808)   —
As at 30 June 1987 141,562 —   141,562
Shares in International Financial Institutions
(See also Note 8)
As at 30 June 1986 57,565     57,565
Net Revaluation Adjustments 24,028     24,028
As at 30 June 1987 81,593     81,593
Bank Premises
As at 30 June 1986 154,855 53,358   208,213
Currency translation adjustments (564) —   (564)
Transfer to earnings (58) —   (58)
As at 30 June 1987 154,233 53,358   207,591
Total Asset Revaluation Reserves
As at 30 June 1986 4,346,650 1,959,110   6,305,760
Net Revaluation Adjustments 710,940 478,640   1,189,580
Transfers to earnings (1,938,912) 1,570   (1,937,342)
Transfers from Note Issue Department to Central Bank (Note 1(a)) 2,385,962 (2,385,962)   —
As at 30 June 1987 5,504,640 53,358   5,557,998