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Financial Institution Letters

Office of Foreign Assets Control
Enforcement Guidelines
FIL-9-2006
February 1, 2006


Summary: The Department of the Treasury's Office of Foreign Assets Control (OFAC) has issued the attached interim final rule on the "Economic Sanctions Enforcement Procedures for Banking Institutions." The interim final rule is effective with enforcement cases involving banking institutions commencing on or after February 13, 2006. OFAC is seeking comments on the interim final rule. Comments are due by March 13, 2006.

Highlights:
  • On January 12, 2006, the Department of the Treasury's Office of Foreign Assets Control published in the Federal Register the attached interim final rule on the "Economic Sanctions Enforcement Procedures for Banking Institutions."
  • The interim final rule is effective with enforcement cases involving banking institutions commencing on or after February 13, 2006.
  • OFAC is seeking written comments on these enforcement guidelines. Comments may be submitted on or before March 13, 2006, to OFAC by the following methods:
    • Through the Federal eRulemaking Portal: www.regulations.gov.
    • Through the agency Web site: www.treas.gov/offices/enforcement/ofac/comment.html.
    • By Fax: Assistant Director of Records, Attn: Request for Comments (Enforcement Procedures), Office of Foreign Assets Control, Department of the Treasury, 1500 Pennsylvania Avenue, N.W., Washington, D.C. 20220
  • All submissions received must include the agency name and the Federal Register Doc. number that appears at the end of the Federal Register document. Comments received will be posted without change to http://www.treas.gov/ofac, including any personal information provided.
  • Please distribute this information to the appropriate personnel in your institution.

Distribution:
FDIC-Supervised Banks (Commercial and Savings)

Suggested Routing:
Chief Executive Officer
BSA Compliance Officer

Related Topics:
Office of Foreign Assets Control

Attachment:
Interim Final Rule - PDF 88k (PDF Help)

Contact:
Senior Financial Analyst Debra L. Novak at SASFIL@FDIC.gov or (202) 898-3673 .

Printable Format:
FIL-9-2006 - PDF 50k (PDF Help)

Note:
FDIC financial institution letters (FILs) may be accessed from the FDIC's Web site at http://www.fdic.gov/news/news/financial/2006/index.html.

To receive FILs electronically, please visit http://www.fdic.gov/about/subscriptions/fil.html.

Paper copies of FDIC financial institution letters may be obtained through the FDIC's Public Information Center (1-877-275-3342 or 703-562-2200).


Last Updated 02/01/2006 communications@fdic.gov