TNAG-0381-FCO40-427-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1973 — Page 65

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ON THE RESERVE POSITION AT THE EXPIRY OF THE FORMER AGREEMENT BUT WITH ADJUSTMENTS MADE TO TAKE ACCOUNT OF THE NON-PARTICIPATION OF THE BANKS IN THE NEW ARRANGEMENTS.

WE WOULD BE GRATEFUL TO HAVE CONFIRMATION OF HONG KONG'S INTENTION TO PARTICIPATE ON THE BASIS OUTLINED ABOVE, AND TO KNOW THAT YOU AGREE THAT THE PRESENTATION OUTLINED IN PARAGRAPHS 6 AND 7 ABOVE WILL HEST THE CASE, YOU WILL NO DOUBT IMPRESS THE DELICACY OF THE MATTER ON THOSE CONCERNED. BUT PLEASE LET US KNOW OF OTHER PRESENTATIONAL POINTS THAT

SCCUR TO YOU,

DOUGLAS-HOME

ORWELL DISTRIBUTION

FRD

HKIOD

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