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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

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