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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)


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