The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
ENTRIES IN CERTAIN ACCOUNTS FOR NORMAL SERVICE CHARGES TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 2, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted: (a) Authorizing any banking institution within the United States to debit any blocked account with such banking institution (or with another office within the United States of such banking institution) in payment or reimbursement for normal service charges owed to such banking institution by the owner of such blocked account; (b) Authorizing any banking institution within the United States to make book entries against any foreign currency account maintained by it with a banking institution in any blocked country for the purpose of responding to debits to such account for nor mal service charges in connection therewith. (2) Any banking institution within the United States which during any quarterly period enters any single item in excess of $500 to any account under the authority of this general Revised license shall file with the appropriate Federal Reserve Bank at the end of such quarterly period February a report showing the name of such account and the nature and amount of each item in excess 21,1944 of $500 entered to such account under the authority of this general license during such quar terly period. (3) As used in this general license, the term “ normal service charges” shall include charges in payment or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, account carrying charges, notary and pro test fees, and charges for reference books, photostats, credit reports, transcripts of statements, registered mail insurance, stationery and supplies, checkbooks, and other similar items. RANDOLPH PAUL A ctin g S ecreta ry o f the T rea su ry *Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44-10 This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org) PAYMENTS TO THE UNITED STATES, STATES A N D POLITICAL SUBDIVISIONS TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 5, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted authorizing the payment from any blocked account to the United States or any agency or instrumentality thereof, or to any state, territory, district, county, municipality, or political subdivision in the United States, of customs duties, taxes, and fees payable thereto by the owner of such blocked account. Par. 2 deleted February 21, 1944 RANDOLPH PAUL A c tin g S ecreta ry o f the T rea su ry *Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26,1941. 44-5 TRANSACTIONS O N BEHALF OF, OR IN V O L V IN G PROPERTY OF SWEDEN A N D ITS NATIONALS TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 49, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted licensing any transaction referred to in Section 1 of the Order, if (i) such transaction is by, or on behalf of, or pursuant to the direction of Sweden, or any national thereof, or (ii) such transaction involves property in which Sweden, or any national thereof, has at any time on or since the effective date of the Order had any interest, provided that: (a) Such transaction is not by, or on behalf of, or pursuant to the direction of any blocked country or any national thereof, other than Sweden or any national of Sweden; and (b) Such transaction does not involve property in which any blocked country or any national thereof, other than Sweden or any national of Sweden, has at any time on or since the effective date of the Order had any interest; and (c) If such transaction is not by, or on behalf of, or pursuant to the direction of the Government of Sweden or the Sveriges Riksbank, such transaction shall not be effected until a representative in New York, New York, of the Swedish Legation, designated for such purpose by the Minister of Sweden to the United States, has certified in writing that the Government of Sweden has determined that such transaction complies with the condi tions of paragraphs (a) and (b) above. (2) This license shall not be deemed to permit any payment, transfer or withdrawal from any blocked account other than blocked accounts in the name of the Government of Sweden or the Sveriges Riksbank, until the said representative in New York, New York, of the Swedish Legation has certified, with respect to the transaction, as provided in paragraph (1) (c) above. (3) This general license shall not apply with respect to any national of Sweden who is also a national of any other blocked country. (4) A report on Form TFR-149 shall be filed promptly in duplicate with the appropriate Federal Reserve Bank by any banking institution within the United States: (a) through which any remittance in excess of $5,000 originates; or (b) which issues, confirms, or advises any letter of credit involving an amount in excess of $5,000; or Additional reporting: provisions deleted February 21, 1944 (c) which debits any blocked account in an amount in excess of $5,000 for any single item under the authority of this general license. (5) As used in this general license, the “ Government of Sweden” shall include the govern ment of any political subdivision (territories, dependencies, possessions, states, departments, provinces, counties, municipalities, districts or other places subject to the jurisdiction thereof), or any political agency or instrumentality of the government. RANDOLPH PAUL Acting Secretary of the Treasury "Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44-6 TRANSACTIONS O N BEHALF OF SWITZERLAND OR THE BANQUE NATIONALE SUISSE TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 50, AS AMENDED, UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted licensing any transaction referred to in Section 1 of the Order, if such transaction is by, or on behalf of, or pursuant to the direction of the Gov ernment of Switzerland or the Banque Nationale Suisse, provided that: (a) Such transaction is not by, or on behalf of, or pursuant to the direction of any blocked country or any national thereof, other than Switzerland or a national of Switzer land; and (b) Such transaction does not involve property in which any blocked country or national thereof, other than Switzerland or any national of Switzerland, has at any time on or since the effective date of the Order had any interest. Any transaction engaged in by the Government of Switzerland or the Banque Nationale Suisse pursuant to the order or for the account of any other national of Switzerland is also hereby authorized to the same extent, and under the same circumstances, as though such transaction were solely for the account of the Government of Switzerland or the Banque Nationale Suisse. (2) This general license shall not be deemed to permit any payment, transfer or with drawal from any blocked account, other than blocked accounts in the name of the Government of Switzerland or the Banque Nationale Suisse, except as provided in paragraph (3) of this general license. (3) This general license also authorizes any payment or transfer of credit or transfer of securities from a blocked account in which any national of Switzerland has an interest to a blocked account in a domestic bank in the name of the Banque Nationale Suisse, if, prior to any such payment or transfer, the instructions to effect such payment or transfer are confirmed by the Banque Nationale Suisse; provided, however, that this authorization shall not be deemed to authorize any payment or transfer of credit or transfer of securities from a blocked account in which any national of a blocked country, other than Switzerland, has an interest, or has had an interest at any time on or since the effective date of the Order. (4) This general license shall not apply with respect to any national of Switzerland who is also a national of any other blocked country. (5) A report on Form TFR-149 shall be filed promptly in duplicate with the appropriatej Federal Reserve Bank by any banking institution within the United States: j (a) through which any remittance in excess of $5,000 originates; or (b) which issues, confirms, or advises any letter of credit involving an amount in excess of $5,000; or Additional reporting provisions deleted February 21, 1944 (c) which debits any blocked account in an amount in excess of $5,000 for any single item under the authority of this general license. (6) As used in this general license, the “ Government of Switzerland” shall include the government of any political subdivision (territories, dependencies, possessions, states, depart ments, provinces, counties, municipalities, districts or other places subject to the jurisdiction thereof), or any political agency or instrumentality of the government. RANDOLPH PAUL Acting Secretary of the Treasury *Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44-7 TRANSACTIONS O N BEHALF OF, OR IN V O L V IN G PROPERTY OF. SPAIN A N D ITS NATIONALS TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 52, AS AMENDED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted licensing any transaction referred to in Section 1 of the Order, if (i) such transaction is by, or on behalf of, or pursuant to the direction of Spain, or any national thereof, or (ii) such transaction involves property in which Spain, or any national thereof, has at any time on or since the effective date of the Order had any inter est, provided, that: (a) Such transaction is not by, or on behalf of, or pursuant to the direction of any blocked country or any national thereof, other than Spain or any national of Spain; and (b) Such transaction does not involve property in which any blocked country or any national thereof, other than Spain or any national of Spain, has at any time on or since the effective date of the Order had any interest; and (c) If such transaction is not by, or on behalf of, or pursuant to the direction of the Institute Espanol de Moneda Extranjera, such transaction shall not be effected until the Institute Espanol de Moneda Extranjera has certified in writing that the Instituto Espanol de Moneda Extranjera has determined that such transaction complies with the conditions of paragraphs (a) and (b) above. (2) This general license also authorizes any payment or transfer from a blocked account in which any national of Spain has an interest to a blocked account in a domestic bank in the name of the Instituto Espanol de Moneda Extranjera; provided, however, that this authoriza tion shall not be deemed to authorize any payment or transfer from a blocked account in which any national of a blocked country, other than Spain, has an interest, or has had an interest at any time on or since the effective date of the Order. (3) Except as provided in paragraph (2), this general license shall not be deemed to per mit any payment, transfer or withdrawal from any blocked account other than blocked accounts in the name of the Instituto Espanol de Moneda Extranjera, until the Instituto Espanol de Moneda Extranjera has certified, with respect to the transaction, as provided in paragraph (1) (c) above. (4) This general license shall not apply with respect to any national of Spain who is also a national of any other blocked country. (5) A report on Form TFR-149 shall be filed promptly in duplicate with the appropriate Federal Reserve Bank by any banking institution within the United States : (a) through which any remittance in excess of $5,000 originates; or (b) which issues, confirms, or advises any letter of credit involving an amount in excess of $5,000; or Additional reporting provisions deleted February 21,1944 (c) which debits any blocked account in an amount in excess of $5,000 for any single item under the authority of this general license. RANDOLPH PAUL Acting Secretary of the Treasury *Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44- TRANSACTIONS INCIDENT TO TRADE WITH MEMBERS OF “ THE GENERALLY LICENSED TRADE AREA” N O T IN V O L V IN G PERSONS NAMED IN “THE PROCLAIMED LIST OF CERTAIN BLOCKED N ATIO N A LS” TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1914 GENERAL LICENSE NO. 53, AS AMENDED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted licensing all transactions ordinarily incident to the importing and exporting of goods, wares and merchandise between the United States and any of the members of the generally licensed trade area or between the members of the gen erally licensed trade area if (i) such transaction is by, or on behalf of, or pursuant to the direction of any national of a blocked country within the generally licensed trade area, or (ii) such transaction involves property in which any such national has at any time on or since the effective date of the Order had any interest, provided the following terms and conditions are complied with: (a) Such transaction is not by, or on behalf of, or pursuant to the direction of (i) any person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” , or (ii) any blocked country or national thereof not within the generally licensed trade area: (b) Such transaction does not involve property in which (i) any person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” , or (ii) any blocked coun try or national thereof not within the generally licensed trade area, has at any time on or since the effective date of the Order had any interest; and (c) Any banking institution within the United States, prior to issuing, confirming or advising letters of credit, or accepting or paying drafts drawn, or reimbursing them selves for payments made, under letters of credit, or making any other payment or trans fer of credit, in connection with any importation or exportation pursuant to this general license, or engaging in any other transaction herein authorized, shall satisfy itself (from the shipping documents or otherwise) that: (i) any such transaction is incident to a bona fide importation or exportation and is customary in the normal course of business, and that the value of such importation or exportation reasonably corresponds with the sums of money involved in financing such transaction; and (ii) such importation or expor tation is or will be made pursuant to all the terms and conditions of this license. (2) Subject to all other terms and conditions of this general license any national of a blocked country doing business within the United States pursuant to a license is also hereby authorized, while so licensed, to engage in any transaction referred to in paragraph (1) to the same extent that such national is licensed to engage in such transaction involving persons within the generally licensed trade area who are not nationals of a blocked country. *Part 131:— Sec. 5(b), 40 Stat. 415 and 960; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 2G, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44-4 (3) This general license shall also authorize any transaction engaged in by a bank within the generally licensed trade area pursuant to the order of or for the account of any national of a blocked country within the generally licensed trade area to the same extent, and under the same circumstances, as though such transaction were solely for the account of such bank; provided, however, that this paragraph shall not be deemed to permit any payment, transfer or withdrawal from any blocked account; and provided further that the following terms and conditions are complied with: New material 13, (a) Such transaction is not by, or on behalf of, or pursuant to the direction of (i) April any person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” , 1943 or (ii) any blocked country or national thereof not within the generally licensed trade area: (b) Such transaction does not involve property in which (i) any person whose name appears on “ The Proclaimed List of Certain Blocked Nationals” , or (ii) any blocked country or national thereof not within the generally licensed trade area, has at any time on or since the effective date of the Order had any interest. (4) As used in this general license: (a) The term “generally licensed trade area” shall mean the following: (i) the American Republic, i.e., (1) Argentina, (2) Bolivia, (3) Chile, (5) Colombia, (6) Costa Rica, (7) Cuba, (8) The Republic, (9) Ecuador, (10) El Salvador, (11) Guatemala, (13) Honduras, (14) Mexico, (15) Nicaragua, (16) Panama, guay, (18) Peru, (19) Uruguay, and (20) Venezuela; Brazil, (4) Dominican (12) Haiti, (17) Para (ii) the British Commonwealth of Nations, i.e., (1) the United Kingdom (Eng land, Wales, Scotland and Northern Ireland), (2) the British Dominions (Canada, Australia, New Zealand, the Union of South Africa and New foundland), (3) Eire, (4) the Isle of Man, (5) India, (6) Egypt, (7) Anglo-Egyptian Soudan, (8) Iraq, (9) all colonies and protectorates under the British Crown, and (10) a ll mandated territories administered by the United Kingdom or by any British Dominion; (iii) the Union of Soviet Socialist Republics; (iv) the Faroe Islands; (v) the Netherlands West Indies; (vi) the Belgian Congo and Ruanda-Urundi; (vii) Greenland; (viii) Iceland; (ix) (1) Syria and Lebanon; and (2) the New Hebrides Islands; and (x) (1) French Equatorial Africa, including the Cameroons; (2) New Cale donia; (3) Tahiti; (4) the French Establishments in India; Provided, however, that the term “generally licensed trade area” shall not include any territory which is controlled or occupied by the military, naval or police forces or other authority of Japan, Germany, or Italy, or allies thereof. (b) The term “ member” of the generally licensed trade area shall mean any of the foreign countries or political sub-divisions comprising the generally licensed trade area. (c) The term “ The Proclaimed List of Certain Blocked Nationals” shall mean “Paragraph The (4 )(c ) deleted Proclaimed List of Certain Blocked Nationals” as amended and supplemented promul and paragraph (4) (d) gated pursuant to the proclamation of July 17, 1941. renumbered paragraph (4 )(c) February 21, 1944 RANDOLPH PAUL Acting Secretary of the Treasury TRANSACTIONS O N BEHALF OF, OR IN V O L V IN G PROPERTY OF, PORTUGAL A N D ITS NATIONALS TREASURY DEPARTMENT Foreign Funds Control As amended February 21, 1944 GENERAL LICENSE NO. 70, AS AMENDED UNDER EXECUTIVE ORDER NO. 8389, AS AMENDED, EXECUTIVE ORDER NO. 9193, SECTION 5(b) OF THE TRADING WITH THE ENEMY ACT, AS AMENDED BY THE FIRST WAR POWERS ACT, 1941, RELATING TO FOREIGN FUNDS CONTROL.* (1) A general license is hereby granted licensing any transaction referred to in Section 1 of the Order, if (i) such transaction is by, or on behalf of, or pursuant to the direction of Por tugal or any national thereof, or (ii) such transaction involves property in which Portugal, or any national thereof, has at any time on or since the effective date of the Order had any inter est, provided, that: (a) Such transaction is not by, or on behalf of, or pursuant to the direction of any blocked country or any national thereof, other than Portugal or any national of Portugal; (b) Such transaction does not involve property in which any blocked country or any national thereof, other than Portugal or any national of Portugal, has at any time on or since the effective date of the Order had any interest; and (c) If such transaction is not by, or on behalf of, or pursuant to the direction of the Government of Portugal or the Banco de Portugal, such transaction shall not be effected until the Banco de Portugal has certified in writing that the Banco de Portugal has deter mined that such transaction complies with the conditions of paragraphs (a) and (b) above. (2) This general license also authorizes any payment or transfer from a blocked account in which any national of Portugal has an interest to a blocked account in a domestic bank in the name of the Banco de Portugal; provided, however, that this authorization shall not be deemed to authorize any payment or transfer from a blocked account in which any national of a blocked country, other than Portugal, has an interest, or has had an interest at any time on or since the effective date of the Order. (3) Except as provided in paragraph (2), this general license shall not be deemed to permit any payment, transfer or withdrawal from any blocked account other than blocked accounts in the name of the Government of Portugal or the Banco de Portugal, until the Banco de Portugal has certified, with respect to the transaction, as provided in paragraph (1) (c) above. (4) This general license shall not apply with respect to any national of Portugal who is also a national of any other blocked country. (5) A report on Form TFR-149 shall be filed promptly in duplicate with the appropriate Federal Reserve Bank by any banking institution within the United States: (a) through which any remittance in excess of $5,000 originates; or Additional reporting provisions deleted February 21, 1944 (b) which issues, confirms, or advises any letter of credit involving an amount in excess of $5,000; or (c) which debits any blocked account in an amount in excess of $5,000 for any single item under the authority of this general license. (6) As used in this general license, the “ Government of Portugal” shall include the gov ernment of any political subdivision (territories, dependencies, possessions, states, depart ments, provinces, counties, municipalities, districts or other places subject to the jurisdiction thereof), or any political agency or instrumentality of the government. RANDOLPH PAUL Acting Secretary of the Treasury *Part 131:— Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; 54 Stat. 179; 55 Stat. 838; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, Ex. Order 8832, July 26, 1941, Ex. Order 8963, Dec. 9, 1941, and Ex. Order 8998, Dec. 26, 1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 44-9
@FedFRASER