| Description | Includes papers regarding external criticism of the 25% surrender requirement; a potential temporary reduction in the investment currency surrender proportion; tapping the overseas portfolio for a bigger contribution to the reserves; stock exchange international dealing and a proposal to form an international securities market within The Stock Exchange; possible relaxations of exchange control; The Stock Exchange suggested amendments to the 25% rule; the Bank's wish to abandon the 25% surrender requirement; the investment currency market, including a document of International Monetary Fund (IMF) prepared by Paul K Woolley, September 1977; Lord Terrington's unstarred parliamentary question on the 25% rule; and inflows, interest rates and exchange rate policy, including the minutes of a meeting between the Chancellor of the Exchequer and the Bank, 14th September 1977. Also includes minutes of a meeting between the Managing Director of IMF, the Chancellor of the Exchequer, and the Bank, 23rd-30th September 1977. Indexed. |