CODE 18-77
Reference................
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5.
Some other points:
a.
Para 1, line 14 locus standi;
add 'direct' before
b. Para 6, line 8
the addition of 'for legal
the re-
reasons' is perhaps not strong enough, since quirement of HMG's guarantee derives from responsibility for external relations (this point is made in para 11)-
c.
Para 8, lines 14 and 15
to read 1 .highly unlikely to come under purely domestic pressure with respect to its HK$ liquidity. Should it face difficulties however..
d. Para 11, line 1
e.
'MF
1 to read IMF'
I would prefer
1
•
Para 17 for lines 4 and 5 something less forthright such as
relation- ships with HMG, reducing the possible adverse effects on confidence in Hong Kong as an inter- national banking centre.'
25 August 1982
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전
SH Broadbent ESID
233 4810/5053