The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK OF DALLAS Dallas, Texas, November 16,1934. REGULATIONS Relating to Transactions in Foreign Exchange, Transfers of Credit, and the Export of Coin and Currency To the Bank Addressed: For your information, we quote below regulations issued by the Secretary of the Treasury on November 12, 1934: A rticle 1. These regulations are prescribed and issued under authority of Section 5 (b) of the Act of October 6, 1917, (40 Stat. L., 411) as amended by Section 2 of the Act of March 9, 1933, and the Executive Order of January 15, 1934, Regulating Transactions in Foreign Exchange, Transfers of Credit, and the Export o f Coin and Currency. A rticle 2. Licenses may be granted, and a general license is hereby granted, to all individuals, partnerships, asso ciations, and corporations, authorizing any and all transactions in foreign exchange, transfers o f credit, and exports of currency (other than gold certificates) and silver coin. The general license herein granted authorizes transactions to be carried out which are permitted by the Executive Order of January 15, 1934, under license therefor issued pursuant to such Executive Order; but does not authorize any transaction to be carried out which, at the time, is prohibited by any other order or by any law, ruling, or regulation. A rticle 3. In order that Federal reserve banks may keep themselves currently informed as to foreign exchange transactions and transfers of credit, as required in Section 4 of the Executive Order of January 15, 1934, every person engaging in any transaction, transfer, export, or withdrawal referred to in Section 1 of such Executive Order shall fur nish to the Federal Reserve bank o f the district in which such person has his principal place of business in the United States complete information relative thereto upon report forms prescribed by the Secretary of the Treasury, except that reports are not required to be furnished by (1) persons not carrying during any part of the reporting period, accounts abroad or accounts in the United States for non-residents thereof, or (2) persons whose aggregate transactions, trans fers, exports, or withdrawals for their own account and the account o f others do not exceed $5,000 during any seven-day period. Such information shall be furnished on a weekly basis except as the respective Federal Reserve banks permit the information in certain cases or classes of cases to be furnished on the basis of longer intervals. These regulations and the general license herein granted may be modified or revoked at any time. HENRY MORGENTHAU, JR., Secretary of the Treasury. A pproved : November 12, 1934. FRANKLIN D. ROOSEVELT. Yours very truly, B. A. M cK inney, Governor. This publication was digitized and made available by the Federal Reserve Bank of Dallas' Historical Library (FedHistory@dal.frb.org)
@FedFRASER