Reserve Bank of Australia Annual Report – 1992 Financial Statements Reserves

Note 3 Reserves

1990/91 $'000   1991/92 $'000
Balances of, and movements in, the various reserves are detailed below.
  Reserve Bank Reserve Fund
208,461 Opening balance 293,461
85,000 Appropriation from profits in terms of section 30 of the Reserve Bank Act 200,000
293,461 As at 30 June 493,461
  Reserve for Contingencies and General Purposes (Note 1(e), 5)
239,743 Opening balance 2,205,699
583,313 Transfer from Provision for the Effects of Movements in Market Yields
1,282,643 Transfer from Provision for the Effects of Movements in Exchange Rates
100,000 Transfer from earnings in terms of section 78 of the Reserve Bank Act ( Note 2)
2,205,699 As at 30 June 2,205,699
  Asset Revaluation Reserves
  Gold
3,172,983 Opening balance 3,436,136
263,153 Net revaluation adjustments (166,295)
3,436,136 As at 30 June 3,269,841
  Foreign Currency
  (Covers effects of exchange rate movements on investments held in foreign currencies)  
nil Opening balance 549,147
494,212 Net revaluation adjustments 1,927,113
54,935 Transfers to earnings as realised (gains)/losses (293,875)
549,147 As at 30 June 2,182,385
  Investments
  (Covers changes in prices of securities in their local market)  
nil Opening balance nil
41,296 Net revaluation adjustments 874,362
(122,057) Transfers to earnings as – realised (gains)/losses (383,167)
80,761 – unrealised losses (end year)
nil As at 30 June 491,195
  Shares in International Financial Institutions (Note 9)
43,129 Opening balance 37,171
(5,958) Net revaluation adjustments (2,288)
37,171 As at 30 June 34,883
  Bank Premises (Note 1(d), 6)
338,318 Opening balance 336,707
(1,514) Net revaluation adjustments (including currency translation) (158,234)
(97) Transfers to earnings as realised (gains)/losses
336,707 As at 30 June 178,473
  Total Asset Revaluation Reserves
3,554,430 Opening balance 4,359,161
791,189 Net revaluation adjustments 2,474,658
(67,219) Transfers to earnings as – realised (gains)/losses (677,042)
80,761 – unrealised losses (end year)
(Note 1(e), 2)

 
4,359,167 As at 30 June 6,156,777