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Volume 8 1945~1948

Doc No.
Date
Subject

No. 146 NAI DT S10959B

Memorandum by the Department of the Taoiseach on Sterling Assets

Dublin, 2 July 1946

  • 1. Gross Sterling Assets of the Commercial Banks:
    September, 1939 - £117.2 m.
    March, 1946 - £258.2 m.
  • 2. Net Sterling Assets of the Commercial Banks:
    September, 1939 - £61.4 m.
    March, 1946 - £153.3 m.
  • 3. Sterling Assets of Central Bank:
    September, 1939 - £8.1 m.
    March, 1946 - £34.9 m.
  • 4*. Increase in net external assets of Éire, 1940-44 - £107.7m

    (As computed from the Balance of International Payments).

* In 1939, the value of the sterling assets was calculated roughly at £300 m. This calculation was based on a capitalisation of the income derived from the assets. Since the increase from 1940 to 1944 amounts to approximately £100 m., the total value of the assets at the end of 1944 would be approximately £400 m., and at the end of 1945, possibly £450 m.

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