TNAG-0379-FCO40-425-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 265

CYPHER/CAT A

FM HONG KONG 318682Z

CONFIDENTIAL

ORWELL

CONFIDENTIAL

TO ROUTINE F C O TELNO 129 OF 31ST JANUARY, 1973.

YOUR TELEGRAM NUMBER 88.

STERLING GUARANTEE AGREEMENT.

T

13

PA

2

21/55

I SHOULD BE GRATEFUL FOR CLARIFICATION ON TWO POINTS ABOUT THE

SPECIAL ACCOUNT ARRANGEMENT:

2.

(A) COULD WE DRAW ON THE BALANCES IN THE SPECIAL ACCOUNT FROM TIME

TO TIME SHOULD WE WISH TO DO SO?

(B) WILL THE RATE OF INTEREST PAYABLE BE NOT LESS THAT THE MONEY

EMPLOYED RATE?

ALTHOUGH YOU DO NOT SPECIFICALLY SAY SO IN TELEGRAM 1945

OF 22ND NOVEMBER LAST, PRESUMABLY GUARANTEE PAYMENTS TO AN ACCOUNT OTHER THAN A SPECIAL ACCOUNT WOULD BE COUNTED AS PART OF OUR T.O.E.R.

MACLEHOSE

ORWELL DISTRIBUTION

FRO HK10D

CONFIDENTIAL

傻