European Central Banks (Sterling)

HC Deb 28 July 1964 vol 699 c1223

24. Mr. Grimond

asked the Chancellor of the Exchequer what arrangements have been made with the European Central Banks during the last six months for them to increase their holdings of sterling or otherwise assist the £.

Mr. Maudling

None, Sir.

Mr. Grimond

May we take it that no assistance of any kind has been requested or given by the European Central Banks?

Mr. Maudling

One cannot always disclose all the operations of the Exchange Control, but I am prepared to say—as I said—that the answer is, "None, Sir." In fact European holdings of sterling have been falling, not rising.