10.-
+
1972
1973
Increase in value of notes in circulation over preceding year: Increase in mumber of notes in
14.94%
9.45%
circulation over preceding year!
11.32%
11.64%
PROPORTION OF NOTES IN CIRCULATION BY DENOMINATIONS
(per cent by value of total circulation)
End of December:
1971
1.72
1273
$1
0.017
0.015
0.013
$5
2.699
2.683
3.047
$10
16.618
15.782
15.822
$25
$50
2.916
2.933
2.688
..$100
51.367
51.107
43.192
$500
26.383
27.480
29.238
100.000
100.000
100.000
(ii) Deposit account £206,444.11. This is the balance of the Sterling Agreement implementation payments attributable to other funds and to the banks, in respect of the backing for their fiduciary note issues, which had been set aside but not paid out at the end of 1973.
12.
Assets
The assets of the fund, excluding the amount required to clear the deposit account, total £231,202,060.31, and constitute cover of 81.49% for bank notes issued against Certificates of Indebtedness. This compares with a cover of 117.95% in 1972 and 138.34% in 1371. The decline in the cover for the note issue was due to the massive deficit of €34,005,133 for 1373.
(1) Money at call and Treasury Bills:
The total is made up as follows:
239,882,940.50.
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