TNAG-0382-FCO40-428-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 58

NOTHING TO BE WRITTEN IN THIS MARGIN

4.

have been discussions with the Hong Kong authorities on the application of this

offer to Hong Kong. These discussions centred principally on the official

balances held with the Hong Kong commer-

cial banks, which it is no longer appropriate to cover under these arrangements. Conclusions satisfactory

to both sides have been reached."

This draft answer will be submitted to

Ministers here tomorrow morning and we would appreciate any comments not later than 10.00 am.

Apo

18/1.12

A