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FEDERAL RESERVE BANK
OF NEW YORK
Circular No. 2053, May 1, 1940
Reference to Circulars
Nos. 2044, 2046 and 2050.

Executive Order No. 8389, April 10, 1940, and Regulations Issued Pursuant
Thereto Relating to Transactions in Foreign Exchange, Etc.
To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

For your information we quote below the text of a telegram received on April 30, 1940,
from the Treasury Department:
The Secretary of the Treasury has issued the following general license:
Code of Federal Regulations
Title 31 Money and Finance: Treasury
Chapter I—Monetary Offices
Part 131

TREASURY DEPARTMENT
OFFICE OF THE SECRETARY.

General License No. 1 under Executive Order No. 8389, April 10, 1940, and Regulations
issued pursuant thereto, relating to transactions in foreign exchange, etc.(*)
A general license is hereby granted authorizing payments and transfers of credit to accounts
in banking institutions within the United States in which Norway or Denmark or a national
thereof has a property interest within the meaning of the Executive Order of April 10, 1940, and
the Regulations issued thereunder: Provided that the payments or transfers of credit are not
made from accounts in which Norway or Denmark or a national thereof has a property interest
within the meaning of such Order and Regulations.
D. W. BELL,

April 30, 1940.

Acting Secretary of the Treasury.

• Part 131:—Sec. 5(b), 40 Stat. 415 and 966: Sec. 2, 48 Stat. 1; 12 U. S. C. 95a; Ex. Order 6560, Jan. 15,
1934; Ex. Order 8389, April 10, 1940; Regulations, April 10, 1940.

Additional copies of this circular will be furnished upon request.




GEORGE L. HARRISON,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102