CONFIDENTIAL
- 50 -
-
Outside
management
5.
Between 30-50% of foreign currency
assets available for investment in obligations
maturing in not less than six months should be
placed under outside management (excluding central
banks).
The Fund or any part of it may be employed
as follows:
Authorised
6.
debt
obligations
(a)
on deposit with a bank;
(b)
in marketable dated obligations issued
or guaranteed by any of the following
governments:
Australia, Austria, Belgium, Canada,
Denmark, Eire, Federal Republic of
Germany, Finland, France, Holland, Hong
Kong, Italy, Japan, New Zealand,
Norway, Singapore, Sweden, Switzerland,
United Kingdom and United States of
America;
(c)
(d)
(e)
in marketable dated obligations issued
by municipalities, state and provincial
governments, state owned corporations
and government agencies located in any
of the countries mentioned in
sub-paragraph (b) of this paragraph;
in marketable dated obligations
guaranteed by state and provincial
governments located in any of the
countries mentioned in sub-paragraph
(b) of this paragraph;
in certificates of deposit;
CONFIDENTIAL