Foreign Assets Control Act
| 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 https://home.treasury.gov/policy-issues/office-of-foreign-assets-control-sanctions-programs-and-information/ .
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/financial-institution-letters/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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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).