GR 190
IMMEDIATE
DESKBY 142359 Z
CONFIDENTIAL
K
REQNTRY No. 51
18 DECW3
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FM FCO 141921Z
CONFIDENTIAL
ORWELL
DESKBY 142359 Z
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TO IMMEDIATE GOVERNOR HONG KONG TELNO.1286 OF 14 DECEMBER 1973
YOUR TELNO 1448: STERLING GUARANTEE.
1. IN GENERAL YOUR STATEMENT AND BRIEFING ARE ENTIRELY ACCEPTABLE.
WE SHOULD HOWEVER LIKE TO SEE THE FOLLOWING TWO CHANGES:
(A) AMEND PARA 3 OF THE STATEMENT TO READ QUOTE...EXCEPTIONAL
IN THAT THE HONG KONG GOVERNMENT BROUGHT THE STERLING HOLDINGS
OF LOCAL BANKS ETC UNQUOTE: AND
(B) AMEND POINT (B) OF BRIEFING TO READ QUOTE...OBTAIN A GUARANTEE FOR OUR STERLING HOLDINGS IN PARTICULAR BECAUSE OF
THE RECENT FALL IN THE STERLING EXCHANGE RATE AGAINST THE US DOLLAR, UNQUOTE (1.E OMIT REFERENCES TO FALL IN GILT PRICES
AND SALES.
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