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FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, June 5,1940 To All Banking Institutions, and Others Concerned, in the Eleventh Federal Reserve District: The Secretary of the Treasury has issued the following general license (Code o f Federal Regulations, Title 31, Money and Finance, Treasury Chapter 1, Monetary Offices, Part 145): GENERAL LICENSE NO. 15 UNDER EXECUTIVE ORDER NO. 8389 o f April 10, 1940, as amended, and Regulations issued pursuant thereto, relating to transactions in foreign exchange, etc.* “ A general license is hereby granted authorizing banking institutions within the United States: (1) To issue, confirm or advise import letters of credit in favor o f exporters in the Netherlands East Indies to finance imports therefrom into the United States, and to accept and pay drafts drawn by such exporters under such letters o f credit; and (2) To issue, confirm or advise export letters o f credit in favor of exporters within the United States to finance exports therefrom to the Nether lands East Indies; to accept and pay drafts drawn by such exporters under such letters of credit; and to reimburse such banking institutions for payments under such letters of credit. “ The issuance and transfer o f documents of title in connection with such import or export letters of credit in accordance with the instructions of the persons entitled to issue such instructions are also hereby authorized. “ Banking institutions issuing, confirming or advising letters of credit or accept ing or paying drafts drawn, and all persons (including banking institutions) issuing or transferring documents o f title pursuant to this general license, shall file promptly with the appropriate Federal Reserve bank weekly reports showing the details of the transactions during such period. “ For the purpose of this general license the Netherlands East Indies shall be deemed to include the follow ing: Java and Madura, Sumatra, Riouw-Lingga Archipelago, Banka, Billiton, Celebes, Borneo (West, South, and East Divisions) Timor Archipelago, Bali and Lombok, Lesser Sunda Islands, and Dutch New Guinea. D. W. BELL Acting Secretary of the Treasury” June 4,1940 *Part 145— Sec. 5 (b ), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution N o. 69, 76th C ongress; 12 U.S.C. 95a; E x. O rder 6560, Jan. 15, 1934; Ex. Order 8389, A p ril 10, 1940; Ex. Order 8405, M ay 10, 1940; Regulations, A p ril 10, 1940, as amended M ay 10, 1940. Yours very truly, R. R. GILBERT President This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
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