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Federal Deposit Insurance Corporation

Division of Supervision

550 17th Street NW, Washington, DC 20429

Foreign Assets Control Act
July 22, 1999

Executive Order Imposing an Assets Freeze and Trade Embargo Against the
Taliban in Afghanistan


President Clinton has signed an Executive Order, effective July 6, 1999, imposing an assets
freeze and trade embargo against the Taliban in Afghanistan. The order blocks all property or
interests in property of the Taliban or entities designated as owned or controlled or acting on its
behalf. Imports and exports of goods and services to the Taliban or to areas of Afghanistan
controlled by the Taliban also are prohibited by the order.


Attached is information from the U.S. Department of the Treasury's Office of Foreign Assets
Control (OFAC) concerning the order and changes to the list of Specially Designated Nationals
affected by the order. OFAC has asked that we distribute the update to all FDIC-regulated
institutions so records can be checked for accounts that are required to be blocked. OFAC
information also may be found on the Internet at
Please distribute this information to the appropriate personnel in your institution. For further
information about Executive Orders, the list of blocked accounts or the procedures to block
accounts, please call OFAC's Compliance Programs Division at 1-800-540-6322. For your
reference, all FDIC Financial Institution Letters published since January of 1995 may be found
on the FDIC's Web site at under the "Banking News" category.
James L. Sexton

Attachment: (May be found at


Distribution: FDIC-Supervised Banks (Commercial and Savings)

NOTE: Paper copies of FDIC financial institutions letters may be obtained through the FDIC's
Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (800-2766003 or (703) 562-2200).