[Code of Federal Regulations]

[Title 19, Volume 2]

[Revised as of April 1, 2006]

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

[CITE: 19CFR159.37]



[Page 234]

 

                        TITLE 19--CUSTOMS DUTIES

 

   CHAPTER I--BUREAU OF CUSTOMS AND BORDER PROTECTION, DEPARTMENT OF 

        HOMELAND SECURITY; DEPARTMENT OF THE TREASURY (CONTINUED)

 

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.