Financial Institution Letters Foreign Assets Control Act
September 28, 2004
CHIEF EXECUTIVE OFFICER (also of interest to BSA Compliance Officer)
OFAC Sanctions Against Libya Lifted
The President of the United States has issued a new executive order that has lifted the sanctions against Libya.
On September 20, 2004, the President of the United States issued a new executive order (E. O. 13550) that terminated the national emergency with respect to Libya declared in executive order 12543, issued on January 7, 1986. This order also revoked four executive orders related to Libya. A copy of the executive order is attached.
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. OFAC information also may be found on the Internet at http://www.treas.gov/offices/enforcement/ofac/.
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).