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F ederal R e se r v e B ank
OF DALLAS
W ILL IA M
H. WALLACE
DALLAS, TEXAS 75222
FIRST VICE P R ES ID ENT
AND CH IEF O PER ATING O FFICER
May 1, 1987
Circular 87-32
TO: The Chief Executive Officer of all
member banks, bank holding companies
and others concerned in the
Eleventh Federal Reserve District
SUBJECT
Foreign Assets Control
DETAILS
The Office of Foreign Assets Control of the U.S. Department of the
Treasury has requested the assistance of the Federal Reserve System in
informing all member banks of the prohibition under the Comprehensive
Anti-Apartheid Act of 1986 ("the Act") on holding deposit bank accounts of the
South African Government ("SAG") or agencies owned or controlled by the SAG,
and inproviding banks with a listing of such agencies.
Under Section 545.209 of the South African Transactions Regulation,
31 C.F.R. Part 545 ("the Regulations"), published in the Federal Register at
51 Fed. Reg. 46854 (December 29, 1986), a United States depository institution
may not accept, receive, or hold a deposit account from the SAG or from any
agency or entity owned or controlled by the SAG, except for such accounts as
may be authorized pursuant to specific license for diplomatic or consular
purposes.
A U.S. depository institution is defined under 31 C.F.R. Section
545.321 as a depository institution located in the United States and includes
a depository institution as defined in section 19(b)(1) of the Federal Reserve
Act, 12 U.S.C. 461(b)(1), but the definition does not include the foreign
branches of a depository institution organized in the U.S., or the parents,
subsidiaries, branches or offices located outside the U.S. of a depository
institution organized under foreign law.
The Department of State has compiled a listing of agencies or
entities owned or controlled by the Government of South Africa (enclosed).
This listing will be revised periodically.
For additional copies of any circular please contact the Public Affairs Department at (214) 651-6289. Banks and others are
encouraged to use the following incoming WATS numbers in contacting this Bank (800) 442-7140 (intrastate) and (800)
527-9200 (interstate).
This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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ENCLOSURES
The Department of State listing of agencies or entities owned or
controlled by the Government of South Africa is attached.
MORE INFORMATION
For further information please contact this Bank's Legal Department
at (214) 651-6228.
Sincerely yours,
SOUTH AFRICAN PARASTATAL ORGANIZATIONS:
Firms Owned or Controlled by the South African Government
Agricultural Control Boards
Banana Board
Canning Fruit Board
Chicory Board
Citrus Board
Cotton Board
Dairy Board
Deciduous Fruit Board
Dried Fruit Board
Egg Board
Lucerne Seed Board
Maize Board
Meat Board
Mohair Board
Oilseeds Board
Potato, Dried Bean & Grain Sorghum Board
Rooisbos Tea Board
South African Karakul Board
South West African Karakul Board (Namibia)
Tobacco Board
Wheat Board
Wool Board
Agricultural Corp. of Venda
Agricultural Development Corp. of Bophuthatswana
Atlana (Pty) Ltd.
Aluminum Investment Co. (Pty) Ltd.
Aluminum Co. of South Africa (Pty) Ltd. (Alusaf)
Alustang (Pty) Ltd.
Richigata (Pty) Ltd.
Alzira Financial (Pty) Ltd.
Armaments Corp. of South Africa (Pty) Ltd. (Armscor)
Atlas Aircraft Ltd.
Eloptro (Pty) Ltd.
Ernani Property (Pty) Ltd.
Infloplan Ltd.
Kentron (Pty) Ltd.
Konchem (Pty) Ltd.
Lyttleton Engineering Works Ltd.
Musgrove (Pty) Ltd.
Naschem (Pty) Ltd.
Pretoria Metal Pressings (Pty) Ltd.
Sonchem (Pty) Ltd.
Swartklip Products (Pty) Ltd.
Atlantis Diesel Engines (Pty) Ltd.
ADE Behuisings (Pty) Ltd.
Adepart (Pty) Ltd.
Atlantis Aluminum (Pty) Ltd.
Atlantis Foundries (Pty) Ltd.
Finasco (Pty) Ltd.
Atomic Energy Corp. of South Africa Ltd.
Bophuthatswana National Development Corp.
Bophuthatswana Transport Holdings
Fish Hoek Hotel (Pty) Ltd.
Mankue Enterprises (Pty) Ltd.
Heystekrand Furniture Factory (Pty) Ltd.
T.A.B. Bophuthatswana
Central Energy Fund (Pty) Ltd.
Ciskei Agricultural Corp.
Tainton Pineapple Estate
Ciskei People's Development Bank
CTC Bus Company
Indwe Commercial Enterprises (Pty) Ltd.
Ciskei Small Business Corp.
Commission for Fresh Produce Markets
Community Development Fund
Corporation for Public Deposits
Council for Mineral Technology (MINTEK)
Council for Scientific and Industrial Research
South African Inventions Development Corp.
Department of Posts and Telecommunications
Deposit Fund for Housing
Development Bank of Southern Africa
Duntex Property (Pty) Ltd.
ESCOM (formerly Electricity Supply Commission)
Export Finance Development Corp.
First National Development Corp. of South West Africa
Melkor (Pty) Ltd.
Okatana Vulstasie (Pty) Ltd.
Windhoek Wild (Pty) Ltd.
Government Motor Transport and Trading Account
Government of the Republic of South Africa
Government Printing Works
Guardians' Funds
Hooggenoeg Marketing (Pty) Ltd.
Human Sciences Research Council
Industrial Development Corp. of South Africa Ltd. (IDC)
Industrial Selections
Konoil (Pty) Ltd.
National Selections
Industrial Minerals Development Co. (Pty) Ltd.
International Karakul Secreteriat
KaNgwane Economic Development Corp. (Pty) Ltd.
Kindoc Investments (Pty) Ltd.
Konbel (Pty) Ltd.
KwaNdebele Development Corp. Ltd.
KwaZulu Finance and Investment Corp. Ltd.
Bambisanani Nongoma (Pty) Ltd.
Intaba Motors Ltd.
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Isithebe Malt Factory (Pty) Ltd.
KwaZulu Finance (Pty) Ltd.
KwaZulu Garment Industries Ltd.
KwaZulu Finance and Investment Corp. Ltd.
KwaZulu Housing Company (Pty) Ltd.
KwaZulu News Agency Ltd.
KwaZulu Truck and Bus Ltd.
Zululand Furniture Factory (Pty) Ltd.
Land and Agricultural Bank of South Africa (Landbank)
Land and Agricultural Bank of South West Africa
Lebowa Development Corp. Ltd.
Dilokong Chrome Mine (Pty) Ltd.
Lebowa Transport Company
Light Metals Investment Co. (Pty) Ltd.
Marmain (Pty) Ltd.
Mavaco (Pty) Ltd.
Motor Vehicle Assurance Fund
Nabucco Investments (Pty) Ltd.
National Building and Investment Corp. (South West Africa)
National Marketing Board
National Parks Board of Trustees
National Road Fund
National Supplies Procurement Fund
Navik (Pty) Ltd.
Oostra Inmakers (Pty) Ltd. (Eastern Packers)
Phosphate Development Corp. (Pty) Ltd. (Foskor)
Foskem (Pty) Ltd.
Palafos (Pty) Ltd.
Post Office Savings Bank
Public Investment Commissioners
QwaQwa Agricultural Co. Ltd.
QwaQwa Development Corp. Ltd.
Rehoboth Finance and Development Corp. Ltd.
Reinsurance Fund for Export Credit and Foreign Investment
Regional Water Service Corporations
Rosamond Properties (Pty) Ltd.
Rustenberg Industrial Finance (Pty) Ltd.
Saldok (Pty) Ltd.
Sapekoe (Pty) Ltd.
Sapekoe Ngome Landgoed (Pty) Ltd.
Sapekoe Richmond Landgoed (Pty) Ltd.
Sapekoe Sales (Pty) Ltd.
Sasol Three (Pty) Ltd.
Satchem (Pty) Ltd.
Shangaan/Tsonga Development Corp. Ltd.
Fumani Gold Mining Co. (Pty) Ltd.
Small Business Development Corp.
South African Abattoir Corp.
South African Abattoir Commission
South African Banknote Co. (Pty) Ltd.
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South African Broadcasting Corp. (SABC)
South African Bureau of Standards (SABS)
South African Development Trust
South African Development Trust Corp. Ltd.
South African Gas Distribution Corp. Ltd.
Union Steel Corporation of South Africa Ltd.
Usco Aluminum Systems (Pty) Ltd.
Usco Huiseienaars (Pty) Ltd.
Usco Kabelmaatskappy (Pty) Ltd.
Veldmaster (Pty) Ltd.
Veldmaster Incorporated (U.S.)
Urban Transport Fund
Venda Development Corp. Ltd.
Aidec Venda (Pty) Ltd.
N.T.K. Venda (Pty) Ltd.
Thusani Stone Crushers (Pty) Ltd.
Venbor (Pty) Ltd.
Vhavenda Brickworks (Pty) Ltd.
Virema (Pty) Ltd.
Water Boards (all South African Water Boards)
Water Research Commission
March 19, 1987
@FedFRASER