GR 190
IMMEDIATE
DESKBY 0466 38Z
SECRET
*
CYPHER/CAT A
197
FM FCO #31568Z
(HKK 5/1)
171
SECRET
ORWELL
DESKBY 6400 30Z
TO IMMEDIATE GOVERNOR HONG KONG TELNO 983 OF 3 OCTOBER, 1973. INFO SINGAPORE FOR PS MR ROYLE.
YOUR TELMO 1117
STERLING GUARANTEE AGREEMENTS
F
1.
IT WOULD HELP US IN OUR URGENT CONSIDERATION OF YOUR RESPONSE TO HAVE TOTALS OR ESTIMATES OF (1) COMMERCIAL BANK HOLDINGS OF STERLING ON 24 SEPTEMBER: (11) FORWARD SALES MATURING SUBSEQUENTLY: AND (111) STERLING HOLDINGS AND, SEPARATELY, NON-STERLING HOLDINGS
OF THE AUTHORITIES ON 24 SEPTEMBER.
2. WE SHOULD ALSO APPRECIATE YOUR VIEWS ON HOW A CONCESSION ON THE
LINES YOU PROPOSE, IF ONE WERE TO BE MADE, COULD BE PRESENTED FOR CONSUMPTION IN HONG KONG WITHOUT RISK TO THE GUARANTEE ARRANGEMENTS
ELSEWHERE. SEVERAL COUNTRIES, INCLUDING SOME MAJOR HOLDERS, HAVE EXPRESSED TO US GREAT DISQUIET ABOUT THE LEVEL OF THEIR MSPS.
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MR YOUDE
NIR MARSHALL-
SIR D. WATSON
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TO:
MR D.A. WALKER, TREASURY.