TNAG-0381-FCO40-427-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 286

favourable guarantee arrangements which they

and the minor Dependent Territories have

enjoyed hitherto. For this reason (and also because of their lack of financial experience and expertise) we are making to them an offer

which is more favourable than that extended to the independent holders of sterling in

respects:

(a) 100% of their eligible sterling balances will be eligible for guaranteed. In the case of others a deduction equal to 10% of total reserves is made; before

am.c

gible balances

(b) Eligible balances will be those held on the last working day of March 1974. In the case of others it is the lower of balances held on 24 September 1973 or the last working day of March 1974, winiekevegg is tomo

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NOTHING TO BE WRITTEN IN THIS MARGIN