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FEDERAL RESERVE BANK
OF NEW YORK

Executive Order No. 8389, 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 General Kuling No. 6, as amended, and
the text of General License No. 29, as amended, issued June 27, 1941, by the Secretary of the
Treasury pursuant to Executive Order No. 8389, as amended, and the Regulations issued
thereunder.
TREASURY DEPARTMENT
Office of the SecretaryJune 27,1941
GENERAL RULING NO. 6, AS AMENDED, SUPPLEMENTING GENERAL RULING NO. 5
UNDER EXECUTIVE ORDER NO. 8389, APRIL 10, 1940, AS AMENDED, AND REGULATIONS ISSUED PURSUANT THERETO, RELATING TO TRANSACTIONS IN FOREIGN
EXCHANGE, ETC.

General Ruling No. 6 is hereby amended to read as follows:
(1) The provisions of General Ruling No. 5 of June 6, 1940, and all instructions
issued pursuant thereto, are hereby continued in full force and effect, provided, that
any Federal Reserve Bank to whom securities or evidences thereof (hereinafter
referred to as securities) have been forwarded under such general ruling may, as
fiscal agent of the United States, deliver the securities, at any time, under appropriate
arrangements with the addressee of the securities, to a domestic bank.
(2) Prior to such delivery by a Federal Reserve Bank of any such security, a
complete description of the security shall be made or received and retained by such
Federal Reserve Bank, and in any case in which a security bears a stamp, seal or
other mark not lending itself to precise description, a photostat of such mark shall
be made at the expense of the addressee and retained by such Federal Reserve Bank.
This requirement may be dispensed with in any case in which appropriate arrangements are entered into for furnishing such Federal Reserve Bank with this description within a reasonable time after such delivery.
(3) Upon the delivery of any such security by a Federal Reserve Bank to any
domestic bank, such bank shall execute such form of receipt as may be prescribed by
the Secretary of the Treasury.
(4) Any domestic bank to which any such security shall be delivered by a
Federal Reserve Bank shall place such security in a General Ruling No. 6 account in
such bank.
(5) Any outstanding account in which securities or the proceeds thereof have
been placed pursuant to the provisions of General Ruling No. 6 prior to this amendment shall be deemed to be a General Ruling No. 6 account.
(6) Federal Reserve Banks shall release any security referred to in paragraph
(1) hereof, or shall authorize the release of the contents of any General Ruling No. 6
account, if and when the Treasury Department is satisfied that no blocked country,
or national thereof, has, at any time, on or since the effective date of the Order, had
any interest in such security or in such account.
(7) Any application for a license authorizing any transaction or dealing with
respect to a General Ruling No. 6 account (including the contents thereof) shall
specifically indicate that such account is a General Ruling No. 6 account.
(8) As used in this general ruling and in any other rulings, licenses, instructions, etc., the term "General Ruling No. 6 account" shall mean an account of the type



referred to in paragraphs (4) and (5) hereof, and no payments, transfers, or withdrawals may be made from, and no other transaction or dealing may be effected with
respect to, any such account except pursuant to paragraph (6) above or pursuant to
license, provided, that:
(a) No license shall be deemed to authorize transactions with respect to a
General Ruling No. 6 account unless the provisions of such license are specifically
made applicable to a General Ruling No. 6 account.
(b) In the event that any security placed in a General Ruling No. 6 account
is sold or otherwise dealt with under license, except a license of the type referred
to in paragraph (8)(c) below, the proceeds thereof shall be placed in a General
Ruling No. 6 account in the same domestic bank and in the same name in which
the security sold or otherwise dealt with was held.
(c) The contents of a General Ruling No. 6 account cannot be transferred
to a blocked account, except pursuant to a license specifically authorizing such
transfer. Applications for licenses authorizing the transfer of the contents of
any General Ruling No. 6 account to a blocked account shall be accompanied by
adequate evidence respecting the interest therein of blocked countries or nationals
thereof.
E. H. FOLEY, JR.

Acting Secretary of the Treasury.

TREASURY D E P A R T M E N T
Office of the Secretary
June 27,1941
GENERAL LICENSE NO. 29, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389,
APRIL 10, 1940, AS AMENDED, AND REGULATIONS ISSUED PURSUANT THERETO,
RELATING TO TRANSACTIONS IN FOREIGN EXCHANGE, ETC.*

General License No. 29 is hereby amended to read as follows:
The provisions of the following general licenses are hereby made applicable to
General Ruling No. 6 accounts to the extent that such general licenses are not
otherwise applicable by reason of their specifying blocked accounts or accounts of
blocked countries or nationals thereof:
General
General
General
General
General

License
License
License
License
License

No.
No.
No.
No.
No.

1
2
4
5
27
E. H. FOLEY, JR.

'

Acting Secretary of the Treasury.
* Part 131-;—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; Ex. Order 8389, April 10,
1940, as amended by Ex. Order 8785, June 14, 1941; Regulations, April 10, 1940, as amended June 14, 1941.

Additional copies of this circular will be furnished upon request.




ALLAN SPBOUL,

President.

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