§ Mr. Shersbyasked the Chancellor of the Exchequer (1) what were the United Kingdom debts to central bankers and the International Monetary Fund expressed in £s sterling from December 1950 to December 1976 inclusive on a quarter by quarter basis; and if he will publish the information in the Official Report in tabular form;
(2) if he will publish in the Official Report details of the United Kingdom gold and currency reserves expressed in £s sterling on a quarter by quarter basis for the period December 1950 to December 1976 inclusive.
§ Mr. Denzil DaviesDetails of the levels of United Kingdom gold and currency reserves and of the United Kingdom debts to central bankers and the International 149W Monetary Fund are published in the Bank of England Statistical Abstracts for 1970 and 1975 and figures for more recent periods are published in the Bank of England quarterly Bulletins and Economic Trends. Figures for December 1976 will be published in the March 1977 issues of these publications.
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£ million* United Kingdom official short and medium-term borrowing from abroad United Kingdom Government sterling liabilities held by central monetary institutions British Total gold and convertible currency reserves International Monetary Fund Other monetary authorities British Government stocks† Treasury bills 1950—Dccember … 1,178 105 — .. .. 1951—March … 1,342 95 — .. .. June … 1,381 95 — .. .. September … 1,167 95 — .. .. December … 834 95 — .. .. 1952—March … 607 95 — .. .. June … 602 95 — .. .. September … 602 95 — .. .. December … 659 95 — .. .. 1953—March … 774 95 — .. .. June … 845 95 — .. .. September … 888 88 — .. .. December … 899 39 — .. .. 1954—March … 959 39 — .. .. June … 1,078 39 — .. .. September … 1,036 — — .. .. December … 986 — — .. .. 1955—March … 953 — — .. .. June … 957 — — .. .. September … 838 — — .. .. December … 757 — — .. .. 1956—March … 813 — — .. .. June … 852 — — .. .. September … 832 — — .. .. December … 799 200 — .. .. 1957—March … 826 200 — .. .. June … 850 200 — .. .. September … 661 200 — .. .. December … 812 200 — .. .. 1958—March … 989 200 — .. .. June … 1,099 196 — .. .. September … 1,114 195 — .. .. December … 1,096 195 — .. .. 1959—March … 1,121 124 — .. .. June … 1,133 124 — .. .. September … 1,173 120 — .. .. December … 977 116 — .. .. 1960—March … 993 101 — .. .. June … 1,033 83 — .. .. September … 1,110 27 — .. .. December … 1,154 — — .. .. 1961—March … 1,079 — 196 .. .. June … 990 — 323 .. .. September … 1,269 521 28 .. .. December … 1,185 370 — .. .. 1962—March … 1,233 282 — .. .. June … 1,226 191 — .. .. September … 997 — — .. .. December … 1,002 — — 1,044 1,009 In addition to the above debts, over-seas monetary authorities also hold British Government stocks and Treasury bills. These figures have only been recorded from end–1962 onwards and are given in the same published sources Available figures are as follows:
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£ million* United Kingdom official short and medium-term borrowing from abroad United Kingdom Government sterling liabilities held by central monetary institutions Total gold and convertible currency reserves International Monetary Fund Other Monetary authorities British Government Stocks† Treasury bills 1963-March … 1,005 — 90 1,044 995 June … 969 — 36 1,019 1,036 September … 977 — — 1,032 1,002 December … 949 — — 1,018 1,128 1964-March … 950 — — 1,028 1,112 June … 966 — 5 1,027 1,206 September … 907 — 71 1,029 1,203 December … 827 357 216 1,087 1,044 1965—March … 832 351 393 1,143 880 June … 997 851 224 1,127 794 September … 984 851 407 1,062 722 December … 1,073 846 326 1,073 784 1966—March 1,276 … 880 175 1,009 818 June … 1,170 868 244 1,067 851 September … 1,129 867 692 1,074 670 December … 1,107 861 620 1,037 727 1967—March … 1,164 835 194 1,042 719 June … 1,012 665 224 1,023 667 September … 976 656 703 1,013 649 December … 1,123 628 1,439 985 589 1968—March … 1,134 628 1,969 995 650 June … 1,118 1,211 1,891 884 602 September … 1,132 1,176 1,964 924 548 December … 1,009 1,134 2,229 961 542 1969—March … 1,029 1,000 2,111 1,004 581 June … 1,018 1,125 1,893 1,072 511 September … 1,014 1,115 1,946 1,191 437 December … 1,053 1,104 1,560 1,283 446 1970—March … 1,129 1,000 654 1,322 444 June … 1,163 992 469 1,367 523 September … 1,111 985 626 1,396 423 December … 1,178 970 399 1,381 455 1971—March … 1,382 683 — 1,442 502 June … 1,508 675 — 1,475 642 September … 2,089 415 — 1,428 693 December … 2,526 415 — 1,416 818 1972—March … 2,704 403 — 1,479 780 June … 2,850 — 1,067 1,478 766 September … 2,516† — — 1,444 887 December … 2,404 — — 1,572 998 1973—March … 2,436 — — 1,592 903 June … 2,716 — — 1,692 838 September … 2,644 — — 1,575 649 December … 2,787 — — 1,556 674 1974—March … 2,692 — — 1,660 739 June … 2,807 — — 1,437 998 September … 3,074 — — 1,381 1,373 December … 2,890 — — 1,421† 1,746 1975—March … 2,962 — — 1,059† 1,892 June … 2,837 — — 1,052 1,829 September … 2,867 — — 985 1,351 December … 2,683 — — 1,143 1,261 1976—March … 3,082 630 — 1,133 1,380 June … 2,976 1,149 577 1,134 896 September … 3,092 1,230 926 1,108 657 * Data denominated in dollars are converted to sterling at £1= $2.8 up to September 1967; thereafter at £1= $2.4 until September 1971; at £1= $2.60571 for December 1971 and at end-period middle market closing rates thereafter. Where holdings are denominated in non-dollar convertible currencies, these are converted to units of US dollars using middle or central rates prior to being converted to sterling using the above factors. †Changes in definitions and coverage at December 1974 reduced the value of holdings of British Government stocks at that time from £1,421 million to £1,053 million. ‡ From July 1972, the gold and convertible currency reserves were redefined to include the United Kingdom reserve position in the IMF which at that time amounted to $760 million (£310 million). ..Not available.