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FEDERAL RESERVE BANK OF NEW YORK r Circular No. 3 0 2 4 1 L November 13, 1945 J DECLARATION OF DANISH BANK BALANCES To all Banks and Trust Companies in the Second Federal Reserve District: The Danish Legation in Washington has requested us to inform you of the following: P u r s u a n t t o t h e provisions of L a w No. 352 of J u l y 22, 1945. a n y cash balance held w i t h a D a n i s h b a n k , s a v i n g s - b a n k , or cooperative s a v i n g s - b a n k , m u s t be declared t o D a n m a r k s N a t i o n a l b a n k f o r the p u r p o s e of a s c e r t a i n i n g the actual title to the a c c o u n t ; provided t h a t at t h e c o m m e n c e m e n t of J u l y 23, 1945, such balance, i n c l u d i n g accrued interest, exceeded the sum of 500 k r o n e r . F o r m s of declaration, duly executed, m u s t be certified a t a D a n i s h C o n s u l a r office in t h e U n i t e d S t a t e s (or its t e r r i t o r i e s ) , and m u s t be in the possession of D a n m a r k s N a t i o n a l b a n k a t C o p e n h a g e n not later t h a n on D e c e m b e r 31, 1945. R e q u i r e d f o r m s m a y be o b t a i n e d f r o m such C o n s u l a r offices. A f t e r the e x p i r a t i o n of the a f o r e - m e n t i o n e d t i m e limit, t h e acceptance of a n y declaration m a y be m a d e s u b j e c t to a fine of up t o 25 per cent of the a c c o u n t balance. If no declaration is m a d e , the account will be a t t a c h e d in f a v o u r of t h e D a n i s h G o v e r n m e n t . We understand that the Danish authorities expect all persons, whether or not they are nationals of Denmark, to submit separate declarations with respect to each deposit in excess of 500 kroner maintained with any bank, savings-bank or cooperative savings-bank in Denmark. Your attention is directed to the fact that declaration forms may be obtained from Danish Consular offices. They may not be obtained from a Federal Reserve Bank and should not be submitted to a Federal Reserve Bank. Additional copies of this circular may be obtained on request. ALLAN SPROUL, President.
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