[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR535.210]



[Page 139]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 535_IRANIAN ASSETS CONTROL REGULATIONS--Table of Contents

 

                         Subpart B_Prohibitions

 

Sec. 535.210  Direction for establishing an escrow agreement.



    (a) The Federal Reserve Bank of New York, as fiscal agent of the 

United States, is licensed, authorized, directed and compelled to enter 

into escrow and related agreements under which certain money and other 

assets shall be credited to escrow accounts by the Bank of England or 

the N.V. Settlement Bank of the Netherlands.

    (b) The Federal Reserve Bank of New York is licensed, authorized, 

directed and compelled, as fiscal agent of the United States, to receive 

certain money and other assets in which Iran or its agencies, 

instrumentalities or controlled entities have an interest and to hold or 

transfer such money and other assets, and any earnings or interest 

payable thereon, in such manner and at such times as the Secretary of 

the Treasury deems necessary to fulfill the rights and obligations of 

the United States under the Declaration of the government of the 

Democratic and Popular Republic of Algeria dated January 19, 1981, and 

the Undertakings of the Government of the United States of America and 

the Government of Islamic Republic of Iran with respect to the 

Declaration of the Government of the Democratic and Popular Republic of 

Algeria, and the escrow and related agreements described in paragraph 

(a) of this section. Such money and other assets may be invested, or 

not, at the discretion of the Federal Reserve Bank of New York, as 

fiscal agent of the United States.



(Secs. 201-207, 91 Stat. 1626, 50 U.S.C. 1701-1706; E.O. 12170, 44 FR 

65729; E.O. 12205, 45 FR 24099; E.O. 12211, 45 FR 26685; E.O. 12276, 46 

FR 7913; E.O. 12279, 46 FR 7919; E.O. 12280, 46 FR 7921; E.O. 12281, 46 

FR 7923; E.O. 12282, 46 FR 7925; E.O. 12283, 46 FR 7927, and E.O. 12294, 

46 FR 14111)



[46 FR 14333, Feb. 26, 1981, as amended at 46 FR 42063, Aug. 19, 1981]