TNAG-2472-FCO40-3599-Confidential-talks-between-the-UK-and-China-regarding-financ-1992 — Page 132

BANK CONFIDENTIAL

Land Fund administration

Bank of China as bank-note issuer

Design of bank notes

Withdrawal of old notes, introduction of new

Question-mark over continuation of Standard Chartered

Bank as a note-issuer

Establishment of a Hong Kong Monetary Authority

It is pleasing to be able to report that we are not aware, for the

moment at least, of any potential disaster scenarios for individual

banks. And the Stock Exchange/Futures Market now seems to be

securely organised and managed.

I hope this is of some help as a first shot.

Yours

M.n. Hurov

C D Elston

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