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FED ER A L R E SE R V E BANK OF N EW YORK r Circular No. 5 6 6 6 ~l U June 14, 1965 J List of “ Developed Countries” Under Guidelines for Foreign Lending Activities of Commercial Banks To A ll Commercial Banks in the Second Federal R eserve D istrict: Our Circular No. 5665, dated June 11, 1965, sets forth interpretations of certain of the guidelines for foreign lending activities of commercial banks issued by the Board of Governors of the Federal Reserve System. The answer to Question 3 relating to Guideline No. 4, on loan priorities, contains a list of countries considered “ developed” for the purposes of the guidelines. Because of the inadvertent omission of the United Kingdom and of countries in the SinoSoviet bloc, that list has been corrected to read as follow s: Developed countries are: Australia, Austria, the Bahamas, Belgium, Bermuda, Canada, Denmark, France, Germany (Federal Republic), Hong Kong, Ireland, Italy, Japan, Kuwait, Liechtenstein, Luxembourg, Monaco, Netherlands, New Zealand, Norway, Portugal, Republic of South Africa, San Marino, Spain, Sweden, Switzerland, United Kingdom, and countries defined as members of the SinoSoviet bloc by Executive Order 11071, dated December 27, 1962. A s defined in the above-mentioned Executive Order, members of the Sino-Soviet bloc a r e : Albania, Bulgaria, any part of China which is dominated or controlled by International Com munism, Cuba, Czechoslovakia, Estonia, Hungary, any part of Korea which is dominated or controlled by International Communism, Latvia, Lithuania, Outer Mongolia, Poland (including any area under its provisional administration), Rumania, Soviet Zone of Germany and the Soviet Sector of Berlin, Tibet, Union of Soviet Socialist Republics and the Kurile Islands, Southern Sakhalin, and areas in East Prussia which are under the provisional administration of the Union of Soviet Socialist Republics, and any part of Viet-Nam which is dominated or controlled by International Communism. A lfred L Ia y e s , President.
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