TNAG-0448-FCO40-513-Sterling-assets-and-balance-of-payments-of-Hong-Kong-1974 — Page 83

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CYPRICE

PP HONG KONG

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GR 50A

CYPHER/CAT A

RECEIVED IN REGISTRY No. 51

- 6 MAY 1974

MITCOD

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FM FCO 0261628Z

CONFIDENTIAL

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TO PRIORITY HONG KONG TEL NO 421 OF 2 MAY 1974

YOUR TELNO.467: STERLING GUARANTEE.

1. TEASURY AND BANK OF ENGLAND HAVE ASKED TO SEE EXCO MEMORANDUM XCS(74)1. SINCE THIS PAPER WAS MENTIONED IN YOUR TELEGRAM IT WOULD BE DIFFICULT FOR US NOT TO AGREE. WE ASSUME YOU CONCUR FOR THE SAME REASON.

2. GRATEFUL YOUR CONFIRMATION

CALLAGHAN

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