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FEDERAL RESERVE BANK
OF NEW YORK
r
Circular No. 2 1 8 5 , March 12, 1941
T
L Reference to Circulars Nos. 2129, 2131, 2132, 2144, 2171, 2182 and 2183. J

Executive Order No. 8389, April 10, 1940, as Amended, and Regulations
Issued Pursuant Thereto, Relating to Transactions
in Foreign Exchange, Etc.
To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

For your information we quote below the text of a telegram received today from the
Treasury Department:
The following General License No. 37 has been issued today pursuant to Executive Order
No. 8389 of April 10, 1940, as amended, and the Regulations issued thereunder:
CODE OF FEDERAL REGULATIONS
Title 31—Money and Finance: Treasury
Chapter I—Monetary Offices, Department of the Treasury
Part 167

TREASURY DEPARTMENT
Office of the Secretary
March 12, 1941.

GENERAL LICENSE NO. 37 UNDER EXECUTIVE ORDER NO. 8389, 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 to make all payments, transfers and withdrawals from accounts in the
name of citizens of the United States while such citizens are within any foreign country in the course of their employment by the Government of the United States.
Banking institutions within the United States engaging in any transactions authorized by this general license shall file promptly with the appropriate Federal Reserve Bank
monthly reports setting forth the details of such transactions during such period.
D. W. BELL

Acting Secretary of the Treasury
* Part 167;—Sec. 5(b), 40 Stat. 415 and 966; Sec. 2, 48 Stat. 1; Public Resolution No. 69, 76th Congress; 12 U. S. C. 95a; Ex. Order 6560, Jan. 15, 1934; Ex. Order 8389, April 10, 1940; Ex. Order 8405,
May 10, 1940; Ex. Order 8446, June 17, 1940; Ex. Order 8484, July 15, 1940; Ex. Order 8493, July 25,
1940; Ex. Order 8565, October 10, 1940; Ex. Order 8701, March 4, 1941; Regulations, April 10, 1940, as
amended May 10, 1940, June 17, 1940, July 15, 1940, October 10, 1940, and March 4, 1941.

Additional copies of this circular will be furnished upon request.




ALLAN SPROUL,

President.


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102