General Industry Letters
Mortgage Banking Letters
Update on President Bush's Executive Order Freezing Assets that Support Terrorism
October 29, 2001
TO THE CHIEF EXECUTIVE OR CHIEF OPERATING OFFICER OF THE BANKING INSTITUTION OR LICENSED MONEY TRANSMITTER ADDRESSED
By letters dated September 27, 2001 and October 2, 2001, we notified you of the Departments determination to see that all domestic and foreign banking institutions and licensed money transmitters subject to its jurisdiction followed to the extent possible the Presidents Executive Order freezing assets of individuals and organizations that support terrorism. We also reminded you at that time of the need to monitor the website of the Office of Foreign Assets Control ("OFAC") closely to ensure that you were aware of any changes in the list of entities whose assets were frozen by the Order.
OFAC has now updated the list of entities whose assets were frozen by the original Order. This updated list is attached to this letter, and it may also be obtained from the OFAC website (http://www.ustreas.gov/ofac/t11ter.pdf).
We once again emphasize that all institutions need to check the OFAC site on a regular basis to ensure they have the latest information available on blocked entities.
Should you have any questions regarding this letter or any of the prior guidance provided in this regard, please contact Investigative Counsel Irwin Nack at (212) 618- 6601.
Very truly yours,