asked the Chancellor of the Excequer whether he will make a statement indicating the financial resources available in foreign currencies for the support of the £ sterling from the Bank of England, the International Monetary Fund, Central Bank Swap agreements and the EEC.
If it were decided to augment the official reserves, which stood at $7,132 million at the end of April, from sources other than the continuing public sector foreign currency borrowing programme, the Government could consider the use of the following facilities:
|Swap arrangement with the Federal Reserve Bank of New York||3·0|
|IMF general account, excluding the United Kingdom's reserve position at the fund, which counts as part of the reserves||3·2|
|IMF oil facility—at prescent a maximum of||1·2|
|EEC short- and medium-term facilities—a theoretical maximum of||5·0|
ad hoc arrangements or the development of other multilateral facilities.