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Subject: Certain Foreign Accounts
Date: June 16, 2004
To: Chief Executive Officers of All National Banks, Department and Division Heads, and All Examining Personnel
Description: Interagency Advisory: Guidance on Accepting Accounts from Foreign Governments, Foreign Embassies and Foreign Political Figures
The attached Interagency Advisory, issued on June 16, 2004, provides guidance from the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Office of Thrift Supervision, and the National Credit Union Administration to institutions under their supervision concerning the acceptance of accounts from foreign governments, foreign embassies and foreign political figures.
In conjunction with this Interagency Advisory, the Department of the Treasury has issued the attached Statement of Policy on Accepting Accounts From Foreign Governments, Foreign Embassies and Foreign Political Figures.
For further information, please contact your examiner-in-charge or OCC Supervisory Office, or the OCC Compliance Division at (202) 874-4428.
Emory W. Rushton