Full text of Federal Reserve Bank of New York Circulars : Handling of Checks and Other Items Drawn on the Commercial Bank of Kuwait S.A.K.

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FEDERAL RESERVE BANK
OF NEW YORK

P *

March 15, 1991

Handling of Checks and Other Items Drawn on
the Commercial Bank of Kuwait S.A.K.

To All Depository Institutions in the Second Federal
Reserve District, and Others Concerned:

On Monday, March 18, 1991, this Bank will resume presentment o f items pay­
able by, at, or through the Commercial Bank o f Kuwait S.A .K . (0260-0104-1) and
return items to that institution. Items payable by, at, or through that institution were
returned beginning on Friday, August 3, 1990, owing to the President’s block and
the determination by the Office of Foreign Assets Control (“OFAC”) o f the Treasury
Department that the Commercial Bank of Kuwait S.A.K . was controlled by the
Government o f Kuwait. A license issued by OFAC now permits the presentment
o f checks to that institution effective March 18.
John E Sobala,

Vice President.

/Ot -f i f D