| Level | Item |
| Reference Number (click to see whole series/group) | OV44/267 |
| Extent | 1 file |
| Title | STERLING AND STERLING AREA POLICY: STERLING BALANCES - HONG KONG |
| Date | 1 Nov 1972 - 16 Jul 1973 |
| Description | Local Administration's difficulties with commercial banks on account of guarantee. Continued pressure for early renegotiation. Hong Kong permitted further diversification since renegotiation of Agreement not feasable. Consideration of issue of United Kingdom (UK) Treasury Bills denominated in UK dollars. Hong Kong government paper as remedy for banks' sterling balance problems. Hong Kong's support of United States (US) dollar in local market leads to breach of Minimum Sterling Proportion (MSP) and then request for lower MSP. |
| Original Reference | CBP802_07v12&13 |
| Keyword | United States of America (USA) |