This improvement in asset quality was due to the lower slippage of standard advances to nonperforming and a seasonal pattern of higher recovery and write-offs that generally take place during the last quarter of financial year. The stressed advances of SCBs also declined to 9.6 per cent of total advances as at end March 2014 from 10.2 per cent of September 2013.
As Paul Drake described earlier, the board of directors of the Helena Branch of the Federal Reserve Bank of Minneapolis is meeting here in Sidney to commemorate John Franklin’s last meeting as a member of that board.