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اسا
ت
2.
A SITUATION KAY WELL ARISE WHERE BANKS REQUIRE COVER IN EXCESS OF
THE PRESENT LIMIT BEFORE THE FULL LEGISLATIVE PROCESS OF AMENDMENT
CAN BE CARRIED CUT. I PROPOSE, SHOULD THE NEED ARISE, TO EXCEED THE
LIMIT ADMINISTRATIVELY IN THE ABSENCE OF LEGISLATIVE SANCTION. ANY
OTHER COURSE OF ACTION COULD HAVE UNFORTUNATE REPERCUSSIONS.
3. I SHOULD ADD THAT ALL THE EVIDENCE INDICATES THAT THERE IS NO
SIGNIFICANT INFLATION OF THE LEVEL OF OUR GUARANTEE ARRANGMENTS OVER
AND ABOVE BANKS' PROPERLY HELD UNDERLYING STERLING ASSETS IN FORMS
ELIGIBLE FOR GUARANTEE.
SIR D. TREICH
DEPARTMENTAL DISTRIBUTION
X.K.D.
F.P.A.D.
ECONOMISTS DEPT.
RESEARCH DEPT.
NEWS DEPT.
F.E.D.
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