TNAG-0448-FCO40-513-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 36

FW

· CONFIDENTIAL

COCO

(actual compensation)

(9,795,000 )

As recommended by Bank

354,000

Bank recommendation corrected for 10%

394,000

(9,755,000)

deduction

Additions to end-

February holdings

limited to end-

February deficiency

(and 10% deduction

corrected)

475,000

(9,675,000)

F.K. JONES

9 July 1974

To

follow paragrash 2

There is also a reference to $13m as the MSH in a Memorandum for executive Council discussed on 11 December, (We made no mention of the misunderstanding in FCO telegram No. 12/1 of 12 December expressing pleasure that EXCO had Accepted the recommendations that Hong Kong should participate in the guarantee arrangements)

CONFIDENTI AL