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Financial Institution Letters

Foreign Assets Control Act

FIL-3-2004
January 8, 2004


TO: CHIEF EXECUTIVE OFFICER (also of interest to BSA Compliance Officer)
SUBJECT: General License Issued Under Iranian Sanctions
Summary: Treasury's Office of Foreign Assets Control has authorized funds transfers to Iran for humanitarian relief.

Effective December 26, 2003, the Department of the Treasury's Office of Foreign Assets Control (OFAC) issued General License Number 1, which authorizes a 90-day period for people living in the United States to make donations of funds to nongovernmental organizations for the direct support of humanitarian relief and reconstruction activities being undertaken as a result of the earthquake in Bam, Iran. A copy of the General License is attached.

OFAC information also may be found on the Internet at http://www.treas.gov/offices/enforcement/ofac/.

Please distribute this information to the appropriate personnel in your institution. For more 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 website at www.fdic.gov/news/news/financial/2004/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
Division of Supervision and Consumer Protection

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Attachment (Not available electronically)

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 or (703) 562-2200).




Last Updated 01/08/2004 communications@fdic.gov