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Financial Institution Letter

Foreign Assets Control Act

April 3, 1995
Notes
 

TO: CHIEF EXECUTIVE OFFICER
SUBJECT: Blocking of Accounts Associated with Terrorist Activities

On January 23, 1995, President Clinton signed Executive Order 12947, which prohibits transactions with terrorists who may threaten the Middle East peace process. Under the order, all accounts and funds held by financial institutions for the benefit of these organizations or individuals are blocked. Attached is an updated list of terrorist organizations and individuals developed by the Treasury Department's Office of Foreign Assets Control (OFAC) in response to the order. The OFAC has asked us to distribute the attached list to all FDIC-regulated institutions so records can be checked for accounts required to be blocked.

Please distribute this list to the appropriate persons in your institution. Questions regarding this list or the procedures to block accounts may be referred to the Compliance Programs Division of the OFAC at 202-622-2490.

Stanley J. Poling
Director

Attachment

Distribution: FDIC-Supervised Banks (Commercial and Savings)


FIL-26-95

Last Updated: April 3, 1995