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TO:
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CHIEF EXECUTIVE OFFICER
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SUBJECT:
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Information on Relevant Regulations for
the Financial Community
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The Treasury Department's Office of Foreign Assets
Control (OFAC) administers a series of laws that impose economic sanctions against
targeted hostile foreign countries to further U. S. foreign policy and national
security objectives. The success of these economic sanctions requires the active
participation and support of every financial institution. For this reason, the FDIC
is providing to bankers and the general public the attached information describing
OFAC, the applicable statutes, and details about the availability of computer-based,
up-to-date OFAC data.
Please distribute this information to the
appropriate people in your bank. Questions about OFAC regulations and
computer access to OFAC information may be referred to OFAC's Compliance
Programs Division at 202-622-2490.
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Stanley J. Poling
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Director |
Attachments
Distribution:
FDIC-Supervised Banks
(Commercial and Savings)
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