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FEDERAL, RESERVE BANK OF DALLAS Dallas, Texas, November 12, 1941 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. 61: “ GENERAL LICENSE NO. 61, AS AMENDED, 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. 61 is amended to read as follows: (1) A general license is hereby granted licensing the offices outside the United States and not within any blocked country other than China of the following Chinese banks as generally licensed nationals: (a) the Bank of China; (b) the Bank of Communications; and (c) the Farmers Bank of China. Any transaction engaged in by any such office of any such bank pursuant to the order of or for the account of any person not within any blocked country is also hereby authorized to the same extent, and under the same circumstances, as though such transaction were solely for the account of such office of such bank; provided, however, that this authorization shall not be deemed to permit any payment, transfer or withdrawal from any blocked account. (2) Any office within Hong Kong or any part of China, except Manchuria, of any such bank is also authorized to engage in all transactions ordinarily incident to the importing and exporting of goods, wares and merchandise between the United States and any part of China, except Man churia, provided all the terms and conditions of General License No. 58 are complied with. (3) Banking institutions within the United States making any payment, transfer or with drawal from the accounts of any such office of the aforementioned banks shall file promptly with the appropriate Federal Reserve bank monthly reports setting forth the details of such transac tions during such period. E. H. FOLEY, JR. Acting Secretary of the Treasury” November 12,1941 *Part 131— Sec. 5(b), 40 Stat. 415 and 966 ;Sec. 2, 48 Stat. 1; 54 Stat. 179; Ex. Order 8389, April 10, 1940, as amended by Ex. Order 8785, June 14, 1941, and Ex. Order 8832, July 26, 1941; Regulations, April 10, 1940, as amended June 14, 1941, and July 26, 1941. 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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