Full text of District Notices (Federal Reserve Bank of Dallas) : [General Ruling No. 8 Under Executive Order #8389]

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FEDERAL. RESERVE BANK
OF DALLAS

Dallas, Texas, September 19, 1940

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

The Secretary of the Treasury has issued the following general ruling:
GENERAL RULING NO. 8 UNDER EXECUTIVE ORDER NO. 8389 of
April 10, 1940, as amended, and Regulations issued pursuant thereto, relat­
ing to transactions in foreign exchange, etc.
“ Inquiry has been made as to whether the following is pro­
hibited, except under license, by Executive Order No. 8389, as
amended, and the Regulations issued pursuant thereto:
A request or authorization made by or on behalf o f
a bank or other person within the United States to a bank
or other person in a foreign country other than one of
the countries designated in Executive Order No. 8389, as
amended, as a result of which request or authorization
such latter bank or person makes a payment or transfer
of credit either directly or indirectly to one o f the foreign
countries designated in the Executive Order, as amended,
or a national thereof.
“ The Treasury Department construes the Executive Order, as
amended, and Regulations as prohibiting such a transaction except
under license.
D. W. BELL
Acting Secretary of the Treasury”
September 18, 1940

Yours very truly,
R. R. GILBERT
President

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