BTC/ FCO 002/46
- NR FCO
GRS 110
EN CLAIR
From BTC Hone Key
FM BTC HK 1610452
UNCLASSIFIED
ORWELL
ADVANCE COPY
TO ROUTINE FCO TEL 100 OF 16 AUC
+ Xerox
Headd FRD (2) Head & NeKIOD
BTC 100
Örucee Disf
STERLING
PA
2/
HONG KONG STANDARD TODAY CARRIES REPORT FROM CORRESPONDENT RANJIT
PERIES IN LONDON THAT ACCORDING TO INFORMED SOURCES' HONG KONG
IS UNLIKELY TO GET ANY SPECIAL CONCESSIONS REGARDING SAFEGUARDING
F RESERVES SUT KNOWLEDGEABLE SOURCES' SAY IT IS LIKELY THAT
PRESENT ARRANGEMENTS WILL BE EXTENDED FOR ONE MORE YEAR TO ALLOW
REDUCTION OF MINIMUM PROPORTION OF RESERVES HELD IN STERLING.
KING SOURCES WITH CONNECTIONS IN COLONY ARE SAID TO SE
SPECULATING ON HOW MUCH OF HONG KONG'S RESERVES WILL REMAIN IN
LONDON BUT ARE HOPEFUL' THERE WILL NOT BE A LARGE OUTFLOW
BECAUSE OF THE HIGH INTEREST RATE.
TulegeANKING
THIS HAS ATTRACTED NO COMMENT SO FAR.
ASTCN.
MIHN
Y
PRODROME LONDON
HX3031 UKTRACEO
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