The Archive · 1937

Bank of France Returns

Paris, Sept. 17, The Banque de France weekly balance sheet drawn up prior to the recent agitation in exchange showed an increase of 43.7 millions in the gold reserve, while a drop of the same figure was seen in foreign short term loans. It seems that the operation was simply the conversion of foreign currency credits into gold-Credits extended by the bank showed but slight changes, while advances by banks to the Government remained unchanged, As to liabilities, the circulation of notes decreased by Frs. 632,000,000, while private current accounts showed an increase of Frs, 586,000,000, Total liabilities declined by Frs. 46,000,000, thereby increasing the gold coverage ratio from 5201 per cent to 52,08 per cent.—Havas,

Text read from the printed page and cleaned; old type leaves the occasional error.

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