Reserve Bank of Australia Annual Report – 1991 Financial Statements Reserves
NOTE 3 RESERVES
Balances of, and movements in, the various reserves are detailed below.
|
1989/90 $'000 |
1990/91 $'000 |
|
|---|---|---|
| Reserve Bank Reserve Fund | ||
| 208,461 | Opening balance | 208,461 |
| – | Appropriation from profits in terms of section 30 of the Reserve Bank Act | 85,000 |
| 208,461 | As at 30 June | 293,461 |
| Reserve for Contingencies and General Purposes (Note 1(e), 5) | ||
| 239,743 | Opening balance | 239,743 |
| – | Transfer from Provision for the Effects of Movements in Market Yields | 583,313 |
| – | Transfer from Provision for the Effects of Movements in Exchange Rates | 1,282,643 |
| – | Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2) | 100,000 |
| 239,743 | As at 30 June | 2,205,699 |
| Asset Revaluation Reserves | ||
| Gold | ||
| 3,492,729 | Opening balance | 3,172,983 |
| (319,746) | Net revaluation adjustments | 263,153 |
| 3,172,983 | As at 30 June | 3,436,136 |
| Foreign Currency | ||
| 192,734 | Opening balance | nil |
| (296,574) | Net revaluation adjustments | 494,212 |
| (18,474) | Transfers to earnings – realised gains/losses | 54,935 |
| 122,314 | Transfer from Provision for the Effects of Movements in Exchange Rates ( Note 5) | – |
| nil | As at 30 June | 549,147 |
| Investments | ||
| nil | Opening balance | nil |
| (138,438) | Net revaluation adjustments | 41,296 |
| 61,562 | Transfers to earnings – realised gains/losses | (122,057) |
| – | – unrealised losses (end year) | 80,761 |
| 76,876 | Transfer from Provision for the Effects of Movements in Market Yields ( Note 5) | – |
| nil | As at 30 June | nil |
| Shares in International Financial Institutions (Note 9) | ||
| 42,773 | Opening balance | 43,129 |
| 356 | Net revaluation adjustments | (5,958) |
| 43,129 | As at 30 June | 37,171 |
| Bank Premises (Note 1(d), 6) | ||
| 335,366 | Opening balance | 338,318 |
| 2,952 | Net revaluation adjustments – Currency translation | (1,514) |
| – | Transfers to earnings | (97) |
| 338,318 | As at 30 June | 336,707 |
| Total Asset Revaluation Reserves | ||
| 4,063,602 | Opening balance | 3,554,430 |
| (751,450) | Net revaluation adjustments | 791,189 |
| 43,088 | Transfers to earnings – realised gains/losses | (67,219) |
| – | – unrealised losses (end year) (Note 1(e), 2) | 80,761 |
| 199,190 | Transfer from provisions (Note 1(e), 5) | – |
| 3,554,430 | As at 30 June | 4,359,161 |