The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
federal Reser ve Ba n k DALLAS, TEXAS of Dallas 75222 Circular No. 80-25 February 6, 1980 IRANIAN ASSETS CONTROL REGULATIONS TO ALL BANKS AND OTHERS CONCERNED IN THE ELEVENTH FEDERAL RESERVE DISTRICT: The T reasury Department has informed the Federal Reserve Board that the notice distributed with Circular No. 80-10, January 21, 1980, concerning blocked Iranian assets was incorrect in referring to an account at Marine Midland Bank, New York. The corrected notice follows: PAYMENT OF CERTAIN CHECKS, DRAFTS AND ORDERS ISSUED OR DRAWN BY BANK SEPAH, NEW YORK AGENCY Corrected 2/1/80 The Office of Foreign Assets Control has authorized, under License IR-212A, the payment of checks, drafts and payment o rd ers issued by the New York Agency of Bank Sepah. These checks, drafts, and orders will be paid with funds transferred into the U . S . under T reasury authorization. The T reasury has prohibited attachments of funds under this arrangem ent. Banks may accept for collection checks, drafts and o rd ers dated prior to, on, or after November 14, 1979 in favor of individuals in the United States in amounts of $50,000 or less and forward them through the clearing system to Bank, Sepah, New York Agency. Payment under this arrangement is subject to the continued availability of funds. Sincerely yours, Robert H. Boykin First Vice President Banks and others are encouraged to use the following incoming W A T S numbers in contacting this Bank: 1-800-442-7140 (intrastate) and 1-800-527-9200 (interstate). For calls placed locally, please use 651 plus the extension referred to above* This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)