Circular
Special Measures Imposed against VEF Banka
August 2, 2006
Circular No. 11799

To All Depository Institutions and Others Concerned
in the Second Federal Reserve District:

The Board of Governors of the Federal Reserve System has issued SR letter 06-10 to advise banking organizations under its supervision of new obligations relating to joint stock company VEF Banka imposed by the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN). 

On July 12, 2006, FinCEN issued a final rule that imposes special measures under section 311 of the USA PATRIOT Act (31 U.S.C. 5318A) against VEF Banka. These special measures apply to VEF Banka and any of its branches, offices and subsidiaries operating in the Republic of Latvia or in any other jurisdiction. One such subsidiary, Veiksmes lizings, is specifically identified in the rule. This final rule is effective as of August 14, 2006.

See the SR letter and FinCEN final rule below for full details and notes.

SR Letter (SR 06-10)   OFFSITE
FinCEN Final Rule   OFFSITE PDF

Public Information
general.info@ny.frb.org
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