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FEDERAL RESERVE BANK OF NEW YORK Fiscal Agent o f the United States [ Circular No. 10369 August 17, 1990 BLOCKING OF KUWAITI GOVERNMENT PROPERTY Executive Orders 12723 and 12725 To All Banks, and Others Concerned, in the Second Federal Reserve District: On August 2 and August 9, 1990, the President issued Executive Orders blocking all property and interests in property of the G overnm ent of Kuwait, and prohibiting transactions with Kuwait. On August 6 we sent you a copy of a letter, dated August 5, from the Office of Foreign Assets Control o f the D epartm ent of the Treasury directed to this Bank concerning the status of various banks under those Executive Orders. We have now received additional inform ation concerning the status of certain banks listed in that letter. Copies of the Treasury’s m ost recent letters, containing the additional inform ation, dated A ugust 12 and 15, are printed on the following pages. For your information, Executive O rder No. 12722, Blocking Iraqi Governm ent Property and Prohibiting Transactions with Iraq, and Executive O rder No. 12723, Blocking Kuwaiti Governm ent Property, both dated A ugust 2, 1990, were sent to you with our Circular No. 10364, dated August 3. Executive O rder No. 12724, Blocking Iraqi Governm ent Property and Prohibiting Transactions with Iraq (incor rectly identified as Executive O rder No. 12274), and Executive O rder No. 12725, Blocking Kuwaiti Governm ent Property and Prohibiting Transactions with Kuwait (incorrectly identified as Executive O rder No. 12275), both dated A ugust 9, 1990, were sent to you with our Circular No. 10368, dated August 10. Additional questions regarding these m atters may be directed to Bradley K. Sabel, Counsel (Tel. No. 212-720-5041). E. G erald C o r r ig a n , President. D EP AR TM EN T O F T H E TR E A S U R Y W A SH IN G T O N AU6 12 1990 Dear Mr- Patrikis; In m y letter to you of August 5, 1990, I set forth the status of various banks under Executive Order No. 12723. Since that date we have received additional information concerning certain banks listed in Category II of that letter regarding their ownership and control- Based on the information we have received, we have determined that the following banks should not be considered blocked entities under Executive Order No. 12723 and Executive.Order No. 12725 of August 9, 1990: Bahrain Middle East Bank Dao Heng Bank Gulf International BankBank of Bahrain and Kuwait Kuwait .French Bank National Bank of Kuwait Swiss Kuwaiti Bank UBAF Arab American Bank United Bank of Kuwait We have determined that the following bank should be included with those listed in Category IV (i.e., blocked): Kuwait Real Estate Bank We will complete our review of the status of the remaining bank in Category II shortly- The fact that we have yet to complete our review of this bank should not be viewed as an indication that its (not-blocked) status will change. Office of Foreign Assets Control Ernest T - Patrikis General Counsel and Executive Vice President Federal Reserve Bank of New York 33 Liberty Street New York, New York 10045 D EP AR TM EN T O F T H E TR E A S U R Y W A SH IN G T O N AU615199Q FAC No. 118307 Dear Mr. Patrikis: In my letter to you of August 5, 1990, I set forth the status of various banks under Executive Order N©* 12733, Since that date we have received additional information concerning certain banks listed in Categories II & 111 of that letter regarding.their ownership and control* Based on that information, we have determined that the following banks should not be considered blocked entities under Executive Order No, 12723 and Executive Order No. 12723 of August 9, 1990: Arab Banking Corporation Banco Atlantic© We will complete our review of the status of the remaining banks in Category III shortly. R. Richard Newcomb Director Office of Foreign Assets Control Ernest T. Fatrikis General Counsel and Executive Vice President Federal Reserve Bank Of New York 33 Liberty Street New York, New York 16043
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