1988-07-15 16:19
MONETARY AFFAIRS BRANCH.
852 5 865 6146
P.02
15
From: Secretary for Monetary Affairs
To:
Heads of Overseas Offices
VERY URGENT
HKC 105/1
RECE VER: IN REGIS
20 JUL 1988
DESK OFFICER
INDER
PA
EGISTRY
tion Taken
S
2.
(a)
(b)
(c)
New Accounting Arrangements between the Exchange Fund and the Hongkong Bank
Following this memorandum are:
a press release issued jointly by ourselves and Hongkong Bank at 5 p.m. on 15 July Hong Kong time;
as attachment to the press release, a circular letter from the Secretary for Monetary Affairs
to all banks in Hong Kong and other interest parties; and
a Question and Answer Brief for your use on the subject.
The matter is important, highly technical in nature
It and one that should be dealt with in a low key way. is likely to attract attention from the financial sector. You should not deal with the technical questions and should make available a copy of the circular letter from SMA for perusal of those interested. On the more general questions
please draw on the Question and Answer Brief. speak for the Hongkong Bank.
3.
Try not to
For Commissioner London: please arrange for a copy of these papers to be delivered as soon as possible to Hum of FCO and Latter (or Elston) of the Bank of England.
N 1917
Mr Footman
Ма мосуворимо
& pa
ra/z
(Joseph Yam)
for Secretary for Monetary Affairs