[Code of Federal Regulations]
[Title 19, Volume 2]
[Revised as of April 1, 2003]
From the U.S. Government Printing Office via GPO Access
[CITE: 19CFR159.37]

[Page 234]
 
                        TITLE 19--CUSTOMS DUTIES
 
  CHAPTER I--UNITED STATES CUSTOMS SERVICE, DEPARTMENT OF THE TREASURY
 
PART 159--LIQUIDATION OF DUTIES--Table of Contents
 
                Subpart C--Conversion of Foreign Currency
 
Sec. 159.37  Suspension of certification of rates.

    Whenever the Federal Reserve Bank of New York advises that its 
certification of rates for a currency is being suspended pending 
determination of the question whether it will certify multiple rates for 
that currency, the following procedures shall apply:
    (a) Notification of suspension. Customs field officers will be 
informed when certification of a currency is being suspended. Currency 
information received from the Federal Reserve Bank, or otherwise 
available, which might be helpful in calculating estimated duties during 
the period of suspension will be furnished to the Customs field 
officers.
    (b) Suspension of liquidation. In any case where for the purposes of 
the assessment and collection of duties it is necessary to determine the 
proper rate or rates for a currency during the period when it has been 
suspended from certification, appraisement and liquidation shall be 
suspended until resumption of certification.
    (c) Resumption of certification. When certification is resumed by 
the Federal Reserve Bank, the procedures in Sec. 159.36 shall apply.