On May 7, 2003, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued a series of general licenses under the Iraqi sanctions regulations, including several impacting remittances and other banking services. A copy of the general licenses and an overview of the Iraqi Sanctions Regulations - Title 31 Part 575 of the U. S. Code of Federal Regulations are attached.
On the same day, the President of the United States terminated the emergency with respect to Unita, declared in Executive Order 12865 of September 26, 1993, and revoked Executive Orders 12865, 13069, and 13098. A copy of the termination is also attached.
Additional information about OFAC-related issues may be found on the Internet at www.treas.gov/offices/enforcement/ofac/.
Please distribute this information to the appropriate personnel in your institution. For further information about Executive Orders or control regulations, please call OFAC's Compliance Programs Division at 1-800-540-6322.
For your reference, FDIC Financial Institution Letters may be accessed from the FDIC's Web site at www.fdic.gov/news/news/financial/2003/index.html. To learn how to automatically receive FDIC Financial Institution Letters through e-mail, please visit http://www.fdic.gov/news/news/announcements/index.html.
|
Michael J. Zamorski |
|
Director |
Distribution: FDIC-Supervised Banks (Commercial and Savings)
NOTE: Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center, 801 17th Street, NW, Room 100, Washington, DC 20434 (1-877-275-3342, option 5, or (703) 562-2200).
