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federal reserve Bank DALLAS, TEXAS of D allas 75222 Circular No. 81-185 September 17, 1981 IRANIAN ASSETS CONTROL REGULATIONS Amendment TO ALL MEMBER BANKS IN THE ELEVENTH FEDERAL RESERVE DISTRICT: The Assets Control attached copy R egister. The Office of Foreign Assets Control is amending the Iranian Regulations. The purpose of the amendment is outlined in the of the m aterial subm itted for publication in the Federal effective date of this amendment was August 17, 1981. Questions regarding the amendment should be directed to Raymond W. Konan, Chief Counsel, Office of Foreign Assets Control, D epartm ent of the Treasury, Washington, D.C. 20220, Telephone (202) 376-0236. Sincerely yours, William H. Wallace 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) IN ADVANCE OF PRINTED CO PY DEPARTM ENT OF THE TREASURY Office o f Foreign Assets Control 31 CFR P art 535 Iran ian Assets Control Regulations: A uthority to Enter i n t o Agreements with Designated Foreign Banks AGENCY: Office o f Foreign Assets Control ACTION: Final Rule SUM ARY: The Office o f Foreign Assets Control i s amending the I ran ian Assets M Control Regulations. The purpose of the amendment i s to a u th o r iz e the Federal Reserve Bank o f New York, as f i s c a l agent o f th e United S t a t e s , to e n t e r in to escrow and r e l a t e d agreements with d esignated f o re ig n banks. These agreements a re necessary to implement the terms o f the Iran-U.S. Agreements of January 19, 1981. EFFECTIVE DATE: August 17, 1981 FOR FURTHER INFORMATION CONTACT: Raymond W Konan, Chief Counsel, O ffice of . Foreign Assets C ontrol, Department of the Treasury, Washington, D.C. 20220, Tel. (202) 376-0236. SUPPLEM ENTARY INFORMATION: Since the Regulations involve a f o re ig n a f f a i r s f u n c tio n , the p ro v isio n s of the A dm inistrative Procedure Act, 5 U.S.C. 553, re q u irin g n o tic e of proposed rulemaking, o p p o rtu n ity f o r pu b lic p a r t i c i p a t i o n and delay in e f f e c t i v e d a t e , are in a p p l ic a b l e . S i m i l a r l y , because the Regulations are issued with r e s p e c t t o a f o re ig n a f f a i r s fu nctio n of the United S t a t e s , they are not s u b je c t to Executive Order 12291 o f February 17, 1981, d ealing with Federal r e g u l a t i o n s . 31 CFR P art 535 i s amended as fo llow s: Section 535.210 i s amended by the r e v i s i o n o f paragraph (a) as fo llo w s: Section 535.210 [Amended] (a) The Federal Reserve Bank of New York, as f i s c a l agent o f the United S t a t e s , i s l i c e n s e d , a u th o r iz e d , d i r e c t e d and compelled to e n t e r i n t o escrow and r e l a t e d agreements under which c e r t a i n money and o t h e r a s s e t s sh a ll be c r e d i te d to escrow accounts by th e Bank o f England o r the N.V. Settlem ent Bank o f th e Netherlands. - 2- [Sec. 201-207, 91 S t a t . 1626, 50 U.S.C. 1701-1706; E.O. No. 12170, 44 FR 65729; E.O. No. 12205, 45 FR 24099; E.O. No. 12211, 45 FR 26605; E.O. No. 12276, 46 FR 7913; E.O. No. 12279, 46 FR 7919; E.O. No. 12280, 46 FR 7921; E.O. No. 12281, 46 FR 7923; E.O. No. 12282, 46 FR 7925; and E.O. No. 12294, 46 FR 14111.] Dated: August 17, 1981 (Signed Susan M Swinehart) . Susan M Swinehart . Acting D ire c to r Approved: F ile d : (Signed John M Walker, J r . ) . John M Walker, J r . . A s s i s t a n t S ecretary August 17, 1981 P u b licatio n d a te : August 19, 1981