Full text of Federal Reserve Bank of New York Circulars : 5684. Prohibition Against Employment Discrimination Made Applicable to Treasury Tax and Loan Depositaries

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FEDERAL RESERVE BANK
OF NEW YORK
Fiscal Agent of the United States
/■Circular No. 5 8 6 4 1
I August 30, 1966 J

Prohibition Against Employment Discrimination Made Applicable to
Treasury Tax and Loan Depositaries

To the Chief Executive Officers of All Treasury Tax and
Loan Depositaries in the Second Federal Reserve District:

The Treasury Department has advised us of a ruling by the Department of Justice
that Government deposits with banks constitute contracts covered by the President’s
Executive Order 11246, dated September 24, 1965, which prohibits contractors with the
Government from discriminating against employees or applicants for employment because
of race, color, creed, or national origin, and that, in accordance with the ruling, the
acceptance of Government deposits after November 30, 1966 in Treasury Tax and Loan
Accounts will render the depositary banks subject to the requirements of the Order.
For your information, copies of the following documents are enclosed :
1. A letter, dated August 25, 1966, from the Secretary of the Treasury addressed “ To the
Chief Executive Officer o f the Bank A ddressed,” in which the cooperation o f the banking com­
munity in effecting the purposes o f the Order is solicited.
2.

Executive Order 11246, as published in the Federal R egister o f September 28, 1965.

3. Fourteenth Amendment to Treasury Department Circular No. 92, effective August 25,
1966, which provides that the acceptance by a Special Depositary o f a Government deposit after
November 30, 1966 will make the requirements of the Order a part of the depositary’s contract
with the Treasury Department.

Additional copies of the enclosures will be furnished upon request.




A

lfred

H

ayes,

President.

TH E SECRETARY OF THE TRE A SU R Y
W A S H IN G T O N

A U G 2 5 1966
To the Chief Executive Officer
of the Bank Addressed:
I am taking this means of informing you, as chief
executive officer of a Government depositary, of an
important determination that affects your bank.
The United States Department of Justice has ruled
that Government deposits with banks constitute contracts
covered by Executive Order 11246, which prohibits dis­
crimination by Government contractors against employees
or applicants for employment because of race, color,
creed or national origin. A copy of this Executive Order
is attached. Regulations governing compliance with the
Order may be found in Title 41, CFR, Chapter 60.
Accordingly, Government depositaries are being made
subject to the Order by an amendment to the depositary
regulations which provides that acceptance of a Government
deposit after November 30, 1966, will make the require­
ments of the Order a part of the contract with the bank.
A copy of the amendment to the regulations is also attached.
I know I can count on the banking community to make
positive efforts to accomplish the purposes of the
President's Executive Order.
Sincerely yours

Henry H. Fowler
Attachments




12319

FEDERAL REGISTER

Tuesday, September 28, 1965

SUBPART B---- CONTRACTORS’ AGREEMENTS

Sec. 202. Except in contracts exempted in accordance with Section
204 of this Order, all Government contracting agencies shall include

Presidential Documents
Title 3— THE PRESIDENT
Executive Order 11246
EQUAL EMPLOYMENT OPPORTUNITY
Under and by virtue of the authority vested in me as President of
the United States by the Constitution and statutes of the United
States, it is ordered as follows:
P akt I —

N o n d is c r im in a tio n

in

G o v e r n m e n t E m p lo y m e n t

S ection 101. I t is the policy o f the Government of the United
States to provide equal opportunity in Federal employment for all
qualified persons, to prohibit discrimination in employment because
of race, creed, oolor, or national origin, and to promote the full
realization of equal employment opportunity through a positive, con­
tinuing program in each executive department and agency. The
policy of equal opportunity applies to every aspect of Federal
employment policy and practice.
S ec. 102. The head o f each executive department and agency shall
establish and maintain a positive program o f equal employment
opportunity for all civilian employees and applicants for employment
within his jurisdiction in accordance with the policy set forth in
Section 101.
S e c . 103. The Civil Service Commission shall supervise and provide
leadership and guidance in the conduct of equal employment op­
portunity programs for the civilian employees of and applications
for employment within the executive departments and agencies and
shall review agency program accomplishments periodically. In order
to facilitate the achievement of a model program for equal employ­
ment opportunity in the Federal service, the Commission may consult
from time bo time with such individuals, groups, Or organizations as
may be of assistance in improving the Federal program and realizing
the objectives of this Part.
Sec. 104. The Civil Service Commission shall provide for the
prompt, fair, and impartial consideration of all complaints of dis­
crimination in Federal employment on the basis of race, creed, color,
or national origin. Procedures for the consideration o f complaints
shall include at least one impartial review within the executive de­
partment or agency and shall provide for appeal to the Civil Service
Commission.
Sec. 105. The Civil Service Commission shall issue such regula­
tions, orders, and instructions as it deems necessary and appropriate
to carij out its responsibilities under this Part, and the head or each
executive department and agency shall comply with the regulations,
orders, and instructions issued by the Commission under this Part.

in every Government contract hereafter entered into the following
provisions:
“ During the performance of this contract, the contractor agrees as fo llo w s:
“ (1 ) The contractor w ill not discriminate against any employee or applicant
for employment because of race, creed, color, or national origin. The contractor
w ill take affirmative action to ensure that applicants are employed, and that
employees are treated during employment, without regard to their race, creed,
color, or national origin. Such action shall include, but not be limited to the
follo w in g: employment, upgrading, demotion, or tra n sfer; recruitment or re­
cruitment advertising; layoff or term ination; rates of pay or other form s o f
com pensation; and selection for training, including apprenticeship. The con­
tractor agrees to post in conspicuous places, available to employees and applicants
for employment, notices to be provided by the contracting officer setting forth
the provisions of this nondiscrimination clause.
“ (2) The contractor will, in all solicitations or advertisements for employees
placed by or on behalf of the contractor, state that all qualified applicants w ill
receive consideration for employment without regard to race, creed, color, or
national origin.
“ (3 ) The contractor will send to each labor union or representative of workers
with which he has a collective bargaining agreement or other contract or under­
standing, a notice, to be provided by the agency contracting officer, advising the
labor union or workers’ representative of the contractor’s commitments under
Section 202 of Executive Order No. 11246 of September 24, 1965, and shall post
copies of the notice in conspicuous places available to employees and applicants
for employment.
“ (4 ) The contractor w ill comply with all provisions of Executive Order No.
11246 of Sept. 24, 1965, and o f the rules, regulations, and relevant orders of the
Secretary o f Labor.
“ (5) The contractor will furnish all information and reports required by
Executive Order No. 11246 o f September 24, 1965, and by the rules, regulations,
and orders of the Secretary of Labor, or pursuant thereto, and will permit access
to his books, records, and accounts by the contracting agency and the Secretary
o f Labor for purposes of investigation to ascertain compliance with such rules,
regulations, and orders.
“ (6) In the event of the contractor’s noncompliance with the nondiscrimination
clauses o f this contract or with any of such rules, regulations, or orders, this
contract m ay be cancelled, terminated or suspended in whole or in part and
the contractor m ay be declared ineligible for further Government contracts in
accordance with procedures authorized in Executive Order No. 11246 of Sept.
24, 1965, and such other sanctions may be imposed and remedies involved as
provided in Executive Order No. 11246 of September 24, 1965, or by rule, regula­
tion, or order o f the Secretary o f Labor, or as otherwise provided by law.
“ (7 ) The contractor w ill include the provisions o f Paragraphs (1 ) through (7 )
in every subcontract or purchase order unless exempted by rules, regulations, or
orders o f the Secretary of Labor issued pursuant to Section 204 of Executive
Order No. 11246 of Sept. 24, 1965, so that such provisions wiU be binding upon
each subcontractor or vendor. The contractor will take such action with respect
to any subcontract or purchase order as the contracting agency m ay direct as
a means of enforcing such provisions including sanctions for noncompliance:
Provided, however. T h at in the event the contractor becomes involved in, or is
threatened with, litigation with a subcontractor or vendor as a result o f such
direction by the contracting agency, the contractor m ay request the United
States to enter into such litigation to protect the interests o f the United States.”

Sec. 203. (a) Each contractor having a contract containing the pro­
visions prescribed in Section 202 shall file, and shall cause each of his
subcontractors to file, Compliance Reports with the contracting agency
or the Secretary of Labor as may be directed. Compliance Reports
shall be filed within such times and shall contain such information as
to the practices, policies, programs, and employment policies, pro­
grams, and employment statistics of the contractor and each sub­
contractor, and shall be in such form, as the Secretary of Labor may
prescribe.

Sec. 201. The Secretary of Labor shall be responsible for the ad­

(b) Bidders or prospective contractors or subcontractors may be
required to state whether they have participated in any previous con­
tract subject to the provisions of this Order, or any preceding similar
Executive order, and in that event to submit, on behalf of themselves
and their proposed subcontractors? Compliance Reports prior to or as
an initial part of their bid or negotiation of a contract.

ministration of Parts I I and I I I of this Order and shall adopt such
rnles and regulations and issue such orders as he deems necessary and
appropriate to achieve the purposes thereof.

(c) Whenever the contractor or subcontractor has a collective bar­
gaining agreement or other contract or understanding with a labor
union or an agency referring workers or providing or supervising

P a rt

II—N

o n d is c r im in a tio n in E m p lo y m e n t b y G o v e r n m e n t
C o n tra cto rs an d S u b co n tra cto rs

SUBPART A----DUTIES OF TH E SECRETARY OF LABOR




apprenticeship or training for such workers, the Compliance Report
shall include such information as to such labor union’s or agency’s
practices and policies affecting compliance as the Secretary of Labor
may prescribe: P r o v id ed , That to the extent such information is within
the exclusive possession of a labor union or an agency referring workers
or providing or supervising apprenticeship or training and such labor
union or agency shall refuse to furnish such information to the con­
tractor, the contractor shall so certify to the contracting agency as
part of its Compliance Report and shall set forth what efforts he has
made to obtain such information.
(d)
The contracting agency or the Secretary of Labor may direct
that any bidder or prospective contractor or subcontractor shall sub­
mit, as part of his Compliance Report, a statement in writing, signed
by an authorized officer or agent on behalf of any labor union or any
agency referring workers or providing or supervising apprenticeship
or other training, with which the bidder or prospective contractor
deals, with supporting information, to the effect that the signer’s
practices and policies do not discriminate on the grounds of race,
color, creed, or national origin, and that the signer either will affirma­
tively cooperate in the implementation of the policy and provisions
of this Order or that it consents and agrees that recruitment, employ­
ment, and the terms and conditions of employment under the pro­
posed contract shall be in accordance with the purposes and provisions
of the Order. In the event that the union, or the agency shall refuse
to execute such a statement, the Compliance Report shall so certify
and set forth what efforts have been made to secure such a statement
and such additional factual material as the contracting agency or the
Secretary of Labor may require.
S e c . 204. The Secretary of Labor may, when he deems that special
circumstances in the national interest so require, exempt a contracting
agency from the requirement of including any or all of the provisions
of Section 202 of this Order in any specific contract, subcontract, or
purchase order. The Secretary of Labor may, by rule or regula­
tion, also exempt certain classes of contracts, subcontracts, or pur­
chase orders (1) whenever work is to be or has been performed outside
the United States and no recruitment of workers within the limits
of the United States is involved; (2) for standard commercial sup­
plies or raw materials; (3) involving less than specified amounts of
money or specified numbers of workers; or (4) to the extent that they
involve subcontracts below a specified tier. The Secretary of Labor
may also provide, by rule, regulation, or order, for the exemption
of facilities of a contractor which are in all respects separate and
distinct from activities of the contractor related to the performance
of the contract: P r o v id ed , That such an exemption will not interfere
with or impede the effectuation of the purposes of this Order: A n d
p rovided fu rth e r , That in the absence of such an exemption all facili­
ties shall be covered by the provisions of-this Order.
SUBPART C---- POWERS AND DUTIES OF T H E SECRETARY OF LABOR AN D TH E
CONTRACTING AGENCIES

S e c . 205. Each contracting agency shall be primarily responsible

for obtaining compliance with the rules, regulations, and orders of the
Secretary of Labor with respect to contracts entered into by such
agency or its contractors. A ll contracting agencies shall comply with
the rules of the Secretary of Labor in discharging their primary
responsibility for securing compliance with the provisions of con­
tracts and otherwise with the terms of this Order and of the rules,
regulations, and orders of the Secretary of Labor issued pursuant to
this Order. They are directed to cooperate with the Secretary of
Labor and to furnish the Secretary of Labor such information and
assistance as he may require in the performance of his functions under
this Order. They are further directed to appoint or designate, from
among the agency’s personnel, compliance officers. It shall be the
duty of such officers to seek compliance with the objectives of this
Order by conference, conciliation, mediation, or persuasion.
S e c . 206. (a) The Secretary of Labor may investigate the em­

ployment practices of any Government contractor or subcontractor,




or initiate such investigation by the appropriate contracting agency,
to determine whether or not the contractual provisions specified in
Section 202 of this Order have been violated. Such investigation
shall be conducted in accordance with the procedures established by
the Secretary of Labor and the investigating agency shall report to
the Secretary of Labor any action taken or recommended.
(b) The Secretay of Labor may receive and investigate or cause
to be investigated complaints by employees or prospective employees
of a Government contractor or subcontractor which allege discrimina­
tion contrary to the contractual provisions specified in Section 202
of this Order. I f this investigation is conducted for the Secretary
of Labor by a contracting agency, that agency shall report to the
Secretary what action has been taken or is recommended with regard
to such complaints.
S e c . 207. The Secretary of Labor shall use his best efforts, directly
and through contracting agencies, other interested Federal, State, and
local agencies, contractors, and all other available instrumentalities to
cause any labor union engaged in work under Government contracts
or any agency referring workers or providing or supervising appren­
ticeship or training for or in the course of such work to cooperate in
the implementation of the purposes of this Order. The Secretary of
Labor shall, in appropriate cases, notify the Equal Employment
Opportunity Commission, the Department of Justice, or other appro­
priate Federal agencies whenever it has reason to believe that the
ractices of any such labor organization or agency violate Title V I or
'itle V I I of the Civil Rights Act of 1964 or other provision of Fed­
eral law.

P

S e c . 208. (a) The Secretary of Labor, or any agency, officer, or
employee in the executive branch of the Government designated by
rule, regulation, or order of the Secretary, may hold such hearings,
public or private, as the Secretary may deem advisable for compliance,
enforcement, or educational purposes.

(b) The Secretary of Labor may hold, or cause to be held, hearings
in accordance with Subsection (a) of this Section prior to imposing,
orderihg, or recommending the imposition of penalties and sanctions
under this Order. No order for debarment of any contractor from
further Government contracts under Section 209(a) (6) shall be made
without affording the contractor an opportunity for a hearing.
SUBPART D---- SANCTIONS AN D PENALTIES

S e c . 209. (a) In accordance with such rules, regulations, or orders

as the Secretary of Labor may issue or adopt, the Secretary or the
appropriate contracting agency m ay:
(1) Publish, or cause to be published, the names of contractors or
unions which it has concluded have complied or have failed to comply
with the provisions of this Order or of the rules, regulations, and
orders of the Secretary of Labor.
(2) Recommend to the Department o f Justice' that, in cases in
which there is substantial or material violation or the threat of sub­
stantial or material violation of the contractual provisions set forth
in Section 202 of this Order, appropriate proceedings be brought to
enforce those provisions, including the enjoining, within the limita­
tions of applicable law, of organizations, individuals, or groups who
prevent directly or indirectly, or seek to prevent directly or indirectly,
compliance with the provisions of this Order.
(3) Recommend to the Equal Employment Opportunity Commis­
sion or the Department of Justice that appropriate proceedings be
instituted under Title V I I of the Civil Rights Act of 1964.
(4) Recommend to the Department o f Justice that criminal pro­
ceedings be brought for the furnishing of false information to any con­
tracting agency or to the Secretary of Labor as the case may be.
(5) Cancel, terminate, suspend, or cause to be cancelled, terminated,
or suspended, any contract, or any portion or portions thereof, for
failure of the contractor or subcontractor to comply with the non­

discrimination provisions of the contract. Contracts may be cancelled,
terminated, or suspended absolutely or continuance of contracts may
be conditioned upon a program for future compliance approved by
the contracting agency.
(6)
Provide that any contracting agency shall refrain from enter­
ing into further contracts, or extensions or other modifications of
existing contracts, with any noncomplying contractor, until such con­
tractor has satisfied the Secretary of Labor that such contractor has
established and will carry out personnel and employment policies in
compliance with the provisions of this Order.
(b)
Under rules and regulations prescribed by the Secretary of
Labor, each contracting agency shall make reasonable efforts within
a reasonable time limitation to secure compliance with the contract
provisions of this Order by methods of conference, conciliation, medi­
ation, and persuasion before proceedings shall be instituted under
Subsection (a) (2) of this Section, or before a contract shall be can­
celled or terminated in whole or in part under Subsection (a) (5) of
this Section for failure of a contractor or subcontractor to comply
with the contract provisions of this Order.
S e c . 210. Any contracting agency taking any action authorized by
this Subpart, whether on its own motion, or as directed by the Secre­
tary of Labor, or under the rules and regulations of the Secretary,
shall promptly notify the Secretary of such action. Whenever the
Secretary of Labor makes a determination under this Section, he shall
promptly notify the appropriate contracting agency of the action
recommended. The agency shall take such action and shall report
the results thereof to the Secretary of Labor within such time as the
Secretary shall specify.
Sec. 211. I f the Secretary shall so direct, contracting agencies shall
not enter into contracts with any bidder or prospective contractor
unless the bidder or prospective contractor has satisfactorily complied
with the provisions of this Order or submits a program for compliance
acceptable to the Secretary of Labor or, if the Secretary so authorizes,
to the contracting agency.
S e c . 212. Whenever a contracting agency cancels or terminates a
contract, or whenever a contractor has been debarred from further
Government contracts, under Section 2 0 9 (a )(6 ) because of noncom­
pliance with the contract provisions with regard to nondiscrimination,
the Secretary of Labor, or the contracting agency involved, shall
promptly notify the Comptroller G en era l of the United States. Any
such debarment may be rescinded by the Secretary of Labor or by
the contracting agency which imposed the sanction.
SUBPART E---- CERTIFICATES OF MERIT

Sec. 213. The Secretary of Labor may provide for issuance of a

United States Government Certificate of Merit to employers or labor
unions, or other agencies which are or may hereafter be engaged in
work under Government contracts, if the Secretary is satisfied that
the personnel and employment practices of the employer, or that the
personnel, training, apprenticeship, membership, grievance and rep­
resentation, upgrading, and other practices and policies of the labor
union or other agency conform to the purposes and provisions of this
Order.
S e c . 214. Any Certificate of Merit may at any time be suspended

or revoked by the Secretary of Labor if the holder thereof, in the
judgment of the Secretary, has failed to comply with the provisions
of this Order.
Sec. 215. The Secretary of Labor may provide for the exemption
of any employer, labor union, or other agency from any reporting
requirements imposed under or pursuant to this Order if such em­
ployer, labor union, or other agency has been awarded a Certificate
of Merit which has not been suspended or revoked.




P art I I I — N ontoscrimlnatton P rovisions i n F ederally A ssisted
C onstruction C ontracts
S e c . 301. Each executive department and agency which adminis­
ters a program involving Federal financial assistance shall require
as a condition for the approval of any grant, contract, loan, insurance,
or guarantee thereunder, which may involve a construction contract,
that the applicant for Federal assistance undertake and agree to
incorporate, or cause to be incorporated, into all construction contracts
paid for in whole or in part with funds obtained from the Federal
Government or borrowed on the credit of the Federal Government
pursuant to such grant, contract, loan, insurance, or guarantee, or
undertaken pursuant to any Federal program involving such grant,
contract, loan, insurance, or guarantee, the provisions prescribed for
Government contracts by Section 203 of this Order or such modification
thereof, preserving in substance the contractor’s obligations there­
under, as may be approved by the Secretary of Labor, together with
such additional provisions as the Secretary deems appropriate to
establish and protect the interest of the United States in the enforce­
ment of those obligations. Each such applicant shall also undertake
and agree (1) to assist and cooperate actively with the administering
department or agency and the Secretary of Labor in obtaining the
compliance of contractors and subcontractors with those contract
rovisions and with the rules, regulations, and relevant orders o f the
ecretary, (2) to obtain and to nirnish to the administering depart­
ment or agency and to the Secretary of Labor such information as they
may require for the supervision of such compliance, (3) to carry out
sanctions and penalties for violation of such obligations imposed upon
contractors and subcontractors by the Secretary of Labor or the ad­
ministering department or agency pursuant to Part I I , Subpart D,
of this Order, and (4) to refrain from entering into any contract
subject to this Order, or extension or other modification of such a
contract with a contractor debarred from Government contracts under
Part I I , Subpart D, of this Order.

g

S e c . 302. (a) “ Construction contract” as used in this Order means
any contract ior the construction, rehabilitation, alteration, conver­
sion, extension, or repair of buildings, highways, or other improve­
ments to real property.

(b) The provisions of Part I I of this Order shall apply to such
construction contracts, and for purposes of such application the ad­
ministering department or agency shall be considered the contracting
agency referred to therein.
(c) The term “ applicant” as used in this Order means an applicant
for Federal assistance or, as determined by agency regulation, other
program participant, with respect to whom an application for any
grant, contract, loan, insurance, or guarantee is not finally acted upon
prior to the effective date of this Part, and it includes such an
applicant after he becomes a recipient of such Federal assistance.
S e c . 303. (a) Each administering department and agency shall
be responsible for obtaining the compliance of such applicants with
their undertakings under this Order. Each administering depart­
ment and agency is directed to cooperate with the Secretary of Labor,
and to furnish the Secretary such information and assistance as he
may require in the performance of his functions under this Order.

(b)
In the event an applicant fails and refuses to comply with his
undertakings, the administering department or agency may take any
or all of the following actions: (1) cancel, terminate, or suspend in
whole or in part the agreement, contract, or other arrangement with
such applicant with respect to which the failure and refusal occurred;
(2) refrain from extending any further assistance to the applicant
under the program with respect to which the failure or refusal
occurred until satisfactory assurance of future compliance has been
received from such applicant; and (3) refer the case to the Depart­
ment of Justice for appropriate legal proceedings.

(c)
Any action with respect "to an applicant pursuant to Subsection
(b) shall be taken in conformity with Section 602 of the Civil Rights
Act of 1964 (and the regulations of the administering department or
agency issued thereunder), to the extent applicable. In no case shall
action be taken with respect to an applicant pursuant to Clause (1)
or (2) of Subsection (b) without notice and opportunity for hearing
before the administering department or agency.

Sec. 403. (a) Executive Orders Nos. 10590 (January 19, 1955),
10722 (A ugu st5,1957), 10925 (M arch6,1961), 11114 (June22,1963),
and 11162 (July 28, 1964), are hereby superseded and the President’s
Committee on Equal Employment Opportunity established by E x ­
ecutive Order No. 10925 is hereby abolished. A ll records and property
in the custody of the Committee shall be transferred to the Civil Service
Commission and the Secretary of Labor, as appropriate.

Sec. 304. Any executive department or agency which imposes by
rule, regulation, or order requirements of nondiscrimination in em­
ployment, other than requirements imposed pursuant to this Order,
may delegate to the Secretary of Labor by agreement such responsibili­
ties with respect to compliance standards, reports, and procedures as
would tend to bring the administration o f such requirements into con­
formity with the administration of requirements imposed under this
Order: P r o v id ed , That actions to effect compliance by recipients of
Federal financial assistance with requirements imposed pursuant to
Title V I of the Civil Rights Act of 1964 shall be taken in conformity
with the procedures and limitations prescribed in Section 602 thereof
and the regulations of the administering department or agency issued
thereunder.
P a r t IV — M is c e lla n e o u s

(b) Nothing in this Order shall be deemed to relieve any person of
any obligation assumed or imposed under or pursuant to any Execu­
tive Order superseded by this Order. A ll rules, regulations, orders,
instructions, designations, and other directives issued by the Presi­
dent’s Committee on Equal Employment Opportunity and those issued
by the heads of various departments or agencies under or pursuant to
any of the Executive orders superseded Dy this Order, shall, to the
extent that they are not inconsistent with this Order, remain in full
force and effect unless and until revoked or superseded by appropriate
authority. References in such directives to provisions of the super­
seded orders shall be deemed to be references to the comparable provi­
sions o f this Order.

Sec. 401. The Secretary of Labor may delegate to any officer, agency,
or employee in the Executive branch of the Government, any function
or duty of the Secretary under Parts I I and I I I of this Order, except
authority to promulgate rules and regulations of a general nature.
Sec. 402. The Secretary of Labor shall provide administrative
support for the execution of the program known as the “ Plans for
Progress.”




Sec. 404. The General Services Administration shall take appropri­
ate action to revise the standard Government contract forms to accord
with the provisions of this Order and of the rules and regulations of
the Secretary of Labor.
Sec. 405. This Order shall become effective thirty days after the
date of this Order.
L y n d o n B. J o h n s o n
T h e W h it e H ouse ,
Septem ber

1966.

[F .R . Dotf. 6 5 -1 0 3 4 0 ; Filed, S ep t 24, 1965 ; 4 : 1 8 p.m.]

SPECIAL DEPOSITS OF PUBLIC MONEYS UNDER THE ACT OF
CONGRESS APPROVED SEPTEMBER 2k, 1917, AS AliENDED

(SECOND LIBERTY BOND ACT, AS AMENDED)

1966

Department Circular No. 92 (Revised)
Fourteenth Amendment
TREASURY DEPARTMENT
OFFICE OF THE SECRETARY
Washington, D. C*
August 25, 1966
Fiscal Service
Bureau of Accounts
To Federal Reserve Banks and other incorporated banks and trust companies in
the United States (including the District of Columbia), Puerto Rico, the
Virgin Islands, and the Panama Canal Zone*
Department Circular 92 (Revised), dated November 10, 19^9* as amended,
is hereby further amended, as follows!
1* By changing paragraph 1 to read, as follows!
UA11 incorporated banks and trust companies in the United States
(including the District of Columbia), Puerto Rico, Virgin Islands, and
the Panama Canal Zone are hereby designated, subject to qualification in
accordance with the provisions of this Cirpular, and subject to acceptance
of a contract of deposit with the Treasury Department, as provided in
paragraph k, as Special Depositaries for receiving deposits of public
moneys as authorized by the Act of Congress, approved September 21;, 1917#
as amended (Second Liberty Bond Act, as amended), referred to in this
Circular as the acti Provided, That no bank or trust company shall perform
any of the acts covered by this designation until it has qualified so to
act in the manner herein prescribed# ”
2* By adding following paragraph 3 a new paragraph k, as follows*
r,U. A Special Depositary which accepts a deposit under this Circular
enters into a contract of deposit with the Treasury Department® The terms
of the contract include all the provisions of this Circular and, in the case
of a contract entered into by acceptance of a deposit after November 30, 1966,
the provisions prescribed in section 202 of Executive Order 112)46 entitled,
TEqual Employment Opportunity, 1 30 F.R. 12319. Thereupon the depositary
contractor shall be subject to the provisions of Part II of that Order.n
3o By renumbering the present paragraph k as 5> and all subsequent
paragraphs consecutively*