PERO NAL AND CONFIDENTIAL
3
"wholesale" management of Government funds
purchase and sale of foreign exchange
- powers to ensure the proper conduct of banks
and other financial institutions
powers to vary liquidity ratios, to call for
minimum reserve deposits, and perhaps reserve powers for other forms of monetary control (including the right to issue general directives to financial institutions)
powers to deal in Government debt and act as
lender of last resort
19th December 1974
G
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