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FEDERAL RESERVE BANK
OF NEW YORK
Circular No. 2099, July 15, 1940
Reference to Circulars Nos. 2044, 2046, 2050, 2053, 2056, 2057, 2058,
2059, 2060, 2062, 2063, 2064, 2065, 2069, 2070, 2071, 2073, 2074, 2078,
2080, 2081, 2082, 2083, 2085, 2086, 2087, 2090, 2094 and 2098.

Executive Order No. 8389, April 10, 1940, as Amended, 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 today from the
Treasury Department:
The following general licenses have been issued today by the Secretary of the Treasury pursuant
to Executive Order No. 8389, of April 10, 1940, as amended, and the Regulations issued thereunder.

CODE OF FEDERAL REGULATIONS
Title 31—Money and Finance: Treasury
Chapter I—Monetary Offices, Department of the Treasury
Part 153
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY

General License No. 23, under Executive Order No. 8389, April 10, 1940, as
amended, and Regulations issued pursuant thereto, relating to
transactions in foreign exchange, etc.*
General Licenses Nos. 1, 2, 4, 5, 9, 11 and 12, as amended, issued under Executive
Order No. 8389 of April 10, 1940, as amended, are hereby further amended so that as of the
date hereof there shall be substituted for the words "Norway, Denmark, the Netherlands,
Belgium, Luxembourg or France", wherever they appear in such general licenses, the
words "Norway, Denmark, the Netherlands, Belgium, Luxembourg, France, Latvia, Estonia
or Lithuania".
General License No. 12, as amended, issued under Executive Order No. 8389, of April
10, 1940, as amended, is hereby further amended by substituting a comma for the semi-colon
at the end of subdivision 2 thereof and adding thereafter the following:
"or subject to the property interests therein as of July 10, 1940, of Latvia, Estonia or
Lithuania or any national thereof;"
D. W. BELL,

July 15, 1940.
,

Acting Secretary of the Treasury.

*Part 153:—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69, 76th Congress; 12 U. S. C. 95a; Ex. Order 6560, Jan. 15, 1934; Ex. Order 8389, April 10, 1940; Ex. Order 8405,
May 10, 1940; Ex. Order 8446, June 17, 1940; Ex. Order 8484, July 15, 1940; Regulations, April 10, 1940,
as amended May 10, 1940, June 17, 1940, and July 15, 1940.




CODE OF FEDERAL REGULATIONS
Title 31—Money and Finance: TreasuryChapter I—Monetary Offices, Department of the Treasury
Part 154
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY

General License No. 24 under Executive Order No. 8389, April 10, 1940, as
amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.*
A general license is hereby granted authorizing banking institutions within the United
States to make payments from accounts in which Latvia, Estonia or Lithuania or a national
thereof has a property interest within the meaning of the Executive Order of April 10,
1940, as amended, and the Regulations issued thereunder, of checks and drafts drawn or
issued prior to July 10, 1940, and to accept and pay and debit to such accounts drafts
drawn prior to July 10, 1940, under letters of credit; provided, that each banking institution making any payment or debit authorized by this general license shall file promptly
with the appropriate Federal Reserve bank weekly reports showing the details of such
transactions.
D. W. BELL,

July 15, 1940.

Acting Secretary of the Treasury.

*Part 154:—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69, 76th Congress; 12 U. S. C. 95a; Ex. Order 6560, Jan. 15, 1934; Ex. Order 8389, April 10, 1940; Ex. Order 8405,
May 10, 1940; Ex. Order 8446, June 17, 1940; Ex. Order 8484, July 15, 1940; Regulations, April 10, 1940,
as amended, May 10, 1940, June 17, 1940, and July 15 1940.

Additional copies of this circular will be furnished upon request.




GEORGE L. HARBISON,

President.

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