Section 311 of the USA PATRIOT Act

Banking Supervision Department

Our Ref.: B10/1C
B1/15C

29 November 2011

The Chief Executive
All authorized institutions

Dear Sir/Madam,

Section 311 of the USA PATRIOT Act

I am writing to inform you that, the US Department of Treasury, pursuant to Section 311 of the USA PATRIOT Act has recently designated the Islamic Republic of Iran as a jurisdiction of primary money laundering concern, in addition to a number of institutions/jurisdictions previously designated for the purpose.

The recent designation includes the entire Iranian financial sector, including Iran’s Central Bank, private Iranian banks, and branches, and subsidiaries of Iranian banks operating outside of Iran. The relevant press release can be found on the Treasury’s website (http://www.treasury.gov/press-center/press-releases).

Yours faithfully,

Vincent Lee
Acting Executive Director (Banking Supervision)