TNAG-1773-FCO40-2525-Hong-Kong-Exchange-Fund-Hong-Kong-Futures-Exchange-Limited--1988 — Page 144

1988-07-15 16:19

MONETARY AFFAIRS BRANCH.

852 5 865 6146

P.02

15

From: Secretary for Monetary Affairs

To:

Heads of Overseas Offices

VERY URGENT

HKC 105/1

RECE VER: IN REGIS

20 JUL 1988

DESK OFFICER

INDER

PA

EGISTRY

tion Taken

S

2.

(a)

(b)

(c)

New Accounting Arrangements between the Exchange Fund and the Hongkong Bank

Following this memorandum are:

a press release issued jointly by ourselves and Hongkong Bank at 5 p.m. on 15 July Hong Kong time;

as attachment to the press release, a circular letter from the Secretary for Monetary Affairs

to all banks in Hong Kong and other interest parties; and

a Question and Answer Brief for your use on the subject.

The matter is important, highly technical in nature

It and one that should be dealt with in a low key way. is likely to attract attention from the financial sector. You should not deal with the technical questions and should make available a copy of the circular letter from SMA for perusal of those interested. On the more general questions

please draw on the Question and Answer Brief. speak for the Hongkong Bank.

3.

Try not to

For Commissioner London: please arrange for a copy of these papers to be delivered as soon as possible to Hum of FCO and Latter (or Elston) of the Bank of England.

N 1917

Mr Footman

Ма мосуворимо

& pa

ra/z

(Joseph Yam)

for Secretary for Monetary Affairs