CONFIDENTIAL
FM FCO
TO IMMEDIATE HONG KONG
TELNO 910
OF 03160OZ MAY 90
CONFIDENTIAL
нис
102
Y
RECI
- 9 MAY 1990
{.
24
062015
MDHOAN 8183
PERSONAL FØR GOVERNOR FROM MCLAREN
21.
FCO TELNO 879: JARDINE FLEMING BANKING LICENCE
1
·
ROSALIND MARSDEN WILL BE SEEKING YOUR ADVICE SEPARATELY ON
A REPLY TO A LETTER WHICH THE PRIME MINISTER HAS RECEIVED FROM HENRY KESWICK SEEKING HER HELP IN SECURING A FULL BANKING LICENCE FOR JARDINE FLEMING. AS YOU WILL SEE, THE LETTER IS QUITE SKILFULLY DRAFTED TO RAISE QUESTIONS IN THE PRIME MINISTER'S MIND.
2.
WE HAVE BEEN ASKED FOR A DRAFT REPLY QUOTE PREPARED IN CONSULTATION WITH THE TREASURY AND THE BANK OF ENGLAND, AS WELL AS THE GOVERNOR OF HONG KONG UNQUOTE. I DO NOT KNOW WHAT VIEW THE TREASURY OR BANK OF ENGLAND WILL TAKE: TO THE BEST OF MY KNOWLEDGE WE HAVE HAD NO PREVIOUS ENQUIRIES OR EXPRESSIONS OF INTEREST FROM THEM. BUT THE BANK OF ENGLAND MAY OF
COURSE HAVE BEEN IN TOUCH DIRECTLY WITH THEIR COUNTERPARTS IN
HONG KONG.
3. YOU MAY BE TEMPTED TO ADVISE THAT THE PRIME MINISTER SHOULD REPLY TO THE EFFECT THAT THIS IS A MATTER FOR THE HONG KONG GOVERNMENT. BUT WE SHALL NEED TO EXPLAIN THE BACKGROUND TO NO 10, AND SET OUT PERSUASIVELY THE REASONS WHY EXCO HAS TAKEN THE POSITION IT HAS .THE SAME EXPLANATION WILL MEET MR MAUDE'S REQUEST (MY TUR). WE SHALL IN ANY CASE NEED TO SUBMIT THE DRAFT REPLY THROUGH HIM.
HURD
YYYY
PAGE
1
CONFIDENTIAL