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F E D E R A L R E S E R V E BANK
O F N E W YORK
Fiscal Agent of the United States
r
Circular Xo. 2 6 0 6 , April 13, 1943
"1
LRcferencc to Circulars Nos. 2604 and 2605. J

FOREIGN FUNDS CONTROL
To all Banking Institutions, and Others Concerned,
in the Second Federal Reserve District:

For your information we quote below from a telegram received from the Treasury
Department:
T h e following is the text of an amendment to General License No. 53 issued today:
CODE OF FEDERAL REGULATIONS
Title 31—Money and Finance: Treasury
Chapter I—Monetary Offices, Department of the Treasury
Part 131—General Licenses under Executive Order
No. 8389, April 10, 1940, as amended, and
Regulations issued pursuant thereto.
Section 131.53

TREASURY DEPARTMENT
Office of the Secretary
April 13, 1943

G E N E R A L L I C E N S E NO. 53, AS A M E N D E D ,
U N D E R E X E C U T I V E O R D E R NO. 8389, AS A M E N D E D , E X E C U T I V E O R D E R NO. 9193,
S E C T I O N S 3(a) A N D 5(b) O F T H E T R A D I N G W I T H T H E E N E M Y ACT, AS A M E N D E D
BY T H E F I R S T W A R P O W E R S ACT, 1941, R E L A T I N G T O F O R E I G N F U N D S CONTROL.*

General License No. 53, as amended, is hereby amended in the following respects:
1. Insert the following as paragraph ( 3 ) :
"(3) This general license shall also authorize any transaction engaged in by a
bank within the generally licensed trade area pursuant to the order of or for the
account of any national of a blocked country within the generally licensed trade area
to the same extent, and under the same circumstances, as though such transaction
were solely for the account of such banks; provided, however, that this paragraph
shall not be deemed to permit any payment, transfer or withdrawal from any
blocked account; and provided further that the following terms and conditions are
complied w i t h :
(a) Such transaction is not by, or on behalf of, or pursuant to the direction of
(i) any person whose name appears on " T h e Proclaimed List of Certain Blocked
Nationals", or (ii) any blocked country or national thereof not within the generally licensed trade area;
(b) Such transaction does not involve property in which (i) any person whose
name appears on " T h e Proclaimed List of Certain Blocked Nationals", or (ii) any
blocked country or national thereof not within the generally licensed trade area,
has at any time on or since the effective date of the Order had any interest."
2. Renumber paragraph (3) as'paragraph (4).
RANDOLPH

PAUL

Acting Secretary of the Treasury
• P a r t 131;—Sec. 5(b), 40 Stat. 415 and 966; See. 2, 48 Stat. 1; 54
Congress, 55 Stat. 838; Ex. Order 8389, April 10. 1940, as amended by
Ex. Order 8832. July 26. 1941, Ex. Order 8963, December 9, 1941, and
1941; Ex. Order 9193, July 6, 1942; Regulations, April 10, 1940, as amended

Stat. 179; Public No. 354, 77th
Ex. Order 8785, June 14. 1941.
Ex. Order 8998, December 26,
June 14, 1941, and July 26. 1941.

Additional copies of this circular will be furnished upon request.




A L L A N SPROTJL,

President.

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