Full text of District Notices (Federal Reserve Bank of Dallas) : [Amendment to General License No. 3 Under Executive Order #8389]

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FEDERAL RESERVE BANK
OF DALLAS

Dallas, Texas, May 18, 1940

To All Banking Institutions, and Others Concerned,
in the Eleventh Federal Reserve District:

The Secretary of the Treasury has issued the following amendment to
General License No. 3:
AMENDMENT TO GENERAL LICENSE NO. 3 UNDER EXECUTIVE
ORDER NO. 8389 of April 10, 1940, as amended, and Regulations issued
pursuant thereto, relating to transactions in foreign exchange, etc.*
“ General License No. 3 is hereby amended to read as follow s:
‘A general license is hereby granted, authorizing banking institu­
tions within the United States;
(a) To make payments from accounts in which Norway or Den­
mark, or a national thereof, has a property interest within the
meaning of the Executive Order of April 10, 1940, as amended,
and the regulations issued thereunder, of checks and drafts drawn
or issued prior to April 8, 1940, and to accept and pay and debit to
such accounts drafts drawn prior to April 8, 1940, under letters of
credit, and
(b) To make payments from accounts in which the Netherlands,
Belgium, or Luxembourg, or a national thereof, has a property in­
terest within the meaning of the Executive Order of April 10, 1940,
as amended, and the regulations issued thereunder, o f checks and
drafts, drawn or issued prior to May 10, 1940, and to accept and
pay and debit to such accounts drafts drawn prior to May 10, 1940,
under letters of credit.
‘Provided, that each banking institution making, after May 17,
1940, any payment or debit authorized by this general license shall file
promptly with the appropriate Federal Reserve bank weekly reports
showing the details of such transactions/
D. W. BELL
Acting Secretary of the Treasury”
May 17, 1940
*Part 133— Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69,
76th Congress; 12 U.S.C. 95a; Ex. Order 6560, Jan. 15, 1934; Ex. Order 8389, A p ril 10,
1940; Ex. Order 8405, M ay 10, 1940; Regulations, A pril 10, 1940, as amended M ay
10, 1940.

Yours very truly,
R. R. GILBERT
President

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