| Description | Implementation. Drill for making payments from Exchange Equalisation Account (EEA). Bank letter to Overseas Sterling Area (OSA) central banks on procedure for implementation. Valuation. Arrangements for 'implementation under floating' transmitted to OSA. European Monetary Agreement (EMA) vis a vis Australia and Iceland. Sterling-dollar rate below 2.3760 dollars for 30 days and guarantee falls to be implemented at 2.3506, effective 23 November 1972. Singapore security valuation. Forecast of possible diversification of sterling balances. |