TNAG-0458-FCO40-523-Future-of-financial-and-economic-policy-of-Hong-Kong-1975 — Page 13

PERO NAL AND CONFIDENTIAL

3

"wholesale" management of Government funds

purchase and sale of foreign exchange

- powers to ensure the proper conduct of banks

and other financial institutions

powers to vary liquidity ratios, to call for

minimum reserve deposits, and perhaps reserve powers for other forms of monetary control (including the right to issue general directives to financial institutions)

powers to deal in Government debt and act as

lender of last resort

19th December 1974

G

: