(Archived Content)
Dear [ Bank Executive ]:
In Executive Order _____ of [INSERT DATE OF PRESIDENTS ORDER],the President vested in the United States Department of the Treasury all right, title, and interest in certain blocked property of the Government of Iraq and certain identified agencies, instrumentalities,or controlled entities. A copy of this Executive Order is enclosed.
The President authorized me to take additional steps to carry out the purposes of that Executive Order. Accordingly, you are hereby notified that, subject to the exceptions indicated in the Executive Order, all blocked funds held in the United States in accounts at your institution in the name of the Government of Iraq, the Central Bank of Iraq, Rafidain Bank, Rasheed Bank, or the State Organization for Marketing Oil have been vested in the United States Department of the Treasury.
Please refer to the enclosed Directive License from the Department of the Treasurys Office of Foreign Assets Control (OFAC) directing your institution to transfer to the Federal Reserve Bank of New York any such vested funds. To help ensure the timely implementation of the Directive License, please identify an oppropriately authorized officer of your institution to serve as a point of contact, and please provide the relevant contact information immediately to OFACs Director, Mr. R. Richard Newcomb, at (202) 622-1759 (facsimile) and (202) 622-2510 (telephone).
I ask that you provide OFAC all necessary support and cooperation in effectuating the requirements of the Presidents order.
Sincerely,
John W. Snow
Secretary of the Treasury