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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 previĀ­
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)

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