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FEDERAL RESERVE BANK OF DALLAS F I S C A L A G E N T O F T H E U N IT E D S T A T E S Dallas, Texas, January 3, 1947 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve D istrict: In January of 1946 the Office o f Foreign Funds Control of the Treasury Department, through the relaxation of its controls, was able to consolidate its operations in three of the Federal Reserve banks whereas it had previ ously functioned through all twelve o f the Reserve banks. The freezing controls have since been further liberalized thus reducing to a considerable degree the work of Foreign Funds Control and making it possible to operate solely through the Federal Reserve Bank of New York. The Foreign Funds Control departments o f the San Francisco and Chicago Federal Reserve banks therefore were closed on December 31, 1946, and any application which would under present procedures be filed with either o f these banks should, subsequent to December 31, 1946, be filed with the Federal Reserve Bank o f New York. Any applications which are pending with these banks at the close of business on that date will be acted on by the Federal Reserve Bank of New York. All inquiries concerning applications, or other matters relating to Foreign Funds Control, arising after December 31, 1946, should be directed to the Federal Reserve Bank o f New York. Yours very truly, R. R. G ILBER T President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)