0.982.2 agreement between the Switzerland and the United States of America regarding the release of the assets of Swiss in America concluded by Exchange of letters of 22 November 1946 the Secretary of the Department of the Treasury of the United States, sent on November 22, 1946, the following letter to the head of the federal political Department, who accused the letter on November 22 and agreed as to the content of this text : Translation of the original English text, Mr. federal councillor, as has been said during recent talks with representatives of your Government, my Department is ready to institute a procedure that is lifting the block currently applied to the Switzerland and Liechtenstein in accordance with the "Executive Order" n 8389 and "Trading with the enemy Act" of 1917 changed. This procedure will be the Switzerland and the Liechtenstein for the benefit of the "General License" n 94 and 95.
The amendment to the "General License" n 94, to include the Switzerland and Liechtenstein, will be for general effect to allow all the transactions made by the Switzerland, the Liechtenstein, or their "nationals", or on their behalf, for as much as such transactions include the assets or revenues of these assets in which, at the date of the amendment the Switzerland or the Liechtenstein or people in these countries already had an interest. As it has already been communicated to your Government, a special paragraph will be added to the "General License" n 94, according to which the provisions of the "General Ruling" n 17 will continue to be applicable to the assets blocked in the accounts of the banks and financial institutes located in Switzerland or Liechtenstein, until these assets have been certified in accordance with the "General License" n 95. Certification of assets according to the "General License" n 95 will make automatically inapplicable the provisions of the "General Ruling" n 17 regarding these assets.
The application of the "General License" n 95 to the Switzerland and the Liechtenstein will allow your Government, subject to the conditions set out in this "License" and in this letter, to completely release the blocked assets that are filed on behalf of people in Switzerland or Liechtenstein, if these assets are certifiable. In addition, my Department will grant licences allowing the release by certification from the assets deposited in a "General Ruling n 6 Accounts", open in accordance with the provisions of the "General Ruling" n 17.
The above procedure will be introduced as soon as I get insurance that your Government accepts the following conditions: 1. the Swiss Government will assume full responsibility for the execution of the procedure laid down by the "General License" n 95. No assets will be certified until the Swiss Government is assured by a proper investigation that this credit is not excluded from the benefit of the "License". This way, the Swiss Government will in particular investigations not only on the ownership and other interests in companies, financial institutes holdings, foundations, "family trusts", etc., but will also separately review the ownership of the assets held by these organizations and institutes, because they could act as agents or nominees. In addition, for assets that would be designated at any time expressly by my Department, the Swiss Government will consult this last before certifying them in accordance with the "General License" n 95. It is understood that consultations will be held to address issues that may arise during the execution of the exposed arrangement in this letter, this in order to reach satisfactory solutions for both parties and to ensure the application of a procedure without heurts.2. To determine if the dollar accounts (' cash accounts ") inmates here on behalf of banks or other financial institutes, the Liechtenstein or Switzerland, are certifiable, it will be considered that people with accounts in dollars from these institutes have an interest in a corresponding share of dollar accounts in this country. In addition, people with capital or other interests in a holding company, a 'investment trust', a Foundation, a "family trust", an organization or similar institution, will be considered as having a direct proportional interest in the assets owned by these organizations or institutions regardless of the formal nature of their interest, but this principle does not permit certification of the assets held by such organization or institution that itself, could be developed for the benefit of the certification.3. It is understood that it will not conduct certifications: has) that would facilitate the execution of transactions that would serve the interests of an enemy of the United States, as defined below, or of a person acting on behalf of an enemy forgotten the source) with the effect of changing status have blocked in the United States in which, at the effective date of the 'Order', or from that date an enemy had a direct or indirect interest.
(4. with regard to ownership of any commercial company "(partnership"), association, corporation or other organization established in accordance with the laws of the Switzerland or the Liechtenstein and who, because of the interests of persons not resident in Switzerland or the Liechtenstein, is also 'national' of another foreign country designated in the 'Order' of blocking as defined in the "General License" n 95 , no certification will be until a complete guarantees were obtained from the Government of that other State, no 'national' of Germany, of the Japan, Bulgaria, Hungary or Romania, other than a person entitled to the benefits of the "General License" n 95, participates to the ownership or control of such interests. As a simplification, however, the Swiss authorities may, under their own responsibility, certify ownership of any organization in which the proportion of these interests is less than 25%. Regarding all have not included in the previous paragraph, and in which any country specified in the "General License" n 95, or any 'national' of this country has a stake, the Swiss Government will not proceed with any certification until he has obtained from the other Government the full assurance that such an interest is itself certifiable in accordance with the "License". However, it is not necessary to obtain such insurance when the value in question is less than $ 1,000.
5. If a credit, in which there is an enemy interest, is certified according to the 'License', inadvertently or by mistake, my Department will be consulted and, at his request, your Government will take appropriate measures to ensure that this credit or its equivalent to be donated to the account, in which he was before have been certified, or to any other account that my Department could designate , but this only up to the amount of the credit or its equivalent that can be found among the property of the original purchaser or original owner. It was agreed that the two parties will consult to review specific cases in which my Department has reason to believe that assets were improperly certifies.6. Immediately after the inclusion of the Switzerland and Liechtenstein in the "General License" n 95, the Swiss Government will require each bank or other financial institution in Switzerland and Liechtenstein to transfer to a special account blocked in the United States, on behalf of the Swiss National Bank, all of the assets held in the accounts of these banks or financial institutes ((, in which, at the effective date of the 'Order' or from this date, have or have had an interest: a) the Governments of the Germany and the Japan of before the armistice and any service, authority or representative of either of those Governments; b) every citizen or subject ("subject") of the Germany or Japan in one or the other of these countries ((, or any person of this class in Switzerland or to the Liechtenstein which must be repatriated; c) any commercial company "partnership"), association, corporation, or other organization established in accordance with the laws of any territory of the Germany or the Japan or who, on December 7, 1941, or at any time since then, had the headquarters of its activity in German or Japanese territory.
Assets transfer will include all the titles in which, on June 14, 1941, or since that date, one of these Governments or any of these people had an interest, as well as liquid amount in dollars sufficient to cover fully all account in dollars appearing in the books of the Bank or another financial Institute at any time whatsoever June 14, 1941, or since that date, and in which one of these Governments or one of these people has, or has had an interest without deduction of withdrawals, except those that have been made with the authorization of my Department. In this respect, my Department will issue licenses to transfers above, in coordination with the amendment of the "General License" n 95.
7. the Government of Switzerland will undertake research and will take the necessary measures to ensure the segregation of all securities located in Switzerland or the Liechtenstein, that were issued by the Government of the United States, its political subdivisions and companies ("corporate") organized according to its laws, regardless of the currency in which they are payable, and was looted in countries occupied by the enemy or in which there is or there has been an interest German or Japanese since the respective dates to which the application of blocking actions taken by the Switzerland has been extended to the Germany and the Japan. A certification status will be attached to every title that can be used for the benefit of the "General License" n 95.8. The Swiss Government is responsible to obtain by means of the information on cash of the United States in Switzerland or Liechtenstein in which there are or there was a German or Japanese interest since the respective dates on which the application of blocking actions taken by the Switzerland has been extended to the Germany and the Japan , and proceed to the segregation of these monetaires.9 species. Your Government will provide to my Department for complete information on filing in the United States, on behalf of a person in Switzerland or to the Liechtenstein, and in which there is reason to believe that there is, or that there has been, since the effective date of the 'Order', a direct or indirect interest, enemy. This information will be provided as and when, as soon as your Government will have established the appropriate facts. They will include complete details of the interests in the assets in the accounts of banks or other financial institutions in Switzerland or to the Liechtenstein to be transferred according to the by. 6 above. My Department will also receive full information on all securities or cash subject to segregation according to the by. 7 and 8 above, due to enemy interests. The ultimate fate of assets in which there is or there was an enemy interest will be determined at a later date. For its part, my Department will provide, as this is done, your Government information about whom he has reason to believe that they have acted as agents or nominees for enemies.
The term 'enemy', used here refers to: 1) Governments of before the armistice of the Germany, the Japan, the Hungary, the Romania, the Bulgaria or of the Italy, or any service, authority or representative of any such Government; 2) any person physical in Germany, the Japan, Bulgaria, Hungary, Romania or Italy, except (a) every person who serves in or accompanying the armed forces of one of the United Nations (, or (b) any person entered in one of these countries after the signing of the armistice concerning him, except for the people who, on December 7, 1941 and since then, have resided only in such countries; 3) any natural person who is a citizen or subject ("subject") of the Germany or the Japan and who, on December 7, 1941 or at any time since that date lay on the territory of the Germany, the Japan, the Hungary, the Romania, the Bulgaria or the Italy, or in any other territory while it was occupied or controlled by the Germany or Japan, with the exception of those who are not in Germany, in Japan, in Bulgaria, Hungary, in Romania or in Italy, and on which the representative of the U.S. Treasury in Switzerland decides that they are victims of good faith of the persecution the German National Socialist Government or Italian fascist; 4) any commercial company ("partnership"), association, corporation, or other organization which is established according to the laws of the Germany, the Japan, the Bulgaria, the Hungary, the Romania or the Italy or who, on 7 December 1941, or at all moment since that date, had the headquarters of its business on German territory (Japanese, Bulgarian, Hungarian, Romanian, Italian and 5) any commercial company ("partnership"), association, corporation or other organization located in any foreign country and who is '' national '' to Germany, the Japan, the Hungary, the Romania or Bulgaria, because of the interest have Governments or persons specified in this paragraph.
You will remember that the assets of the Swiss Government and the Swiss National Bank have already been released. Therefore, after a reasonable time will be since the application in Switzerland of the "General License" n 94 and 95, my Department has the intention to revoke the "General License" n 50. However, your Government will be informed in advance of such a measure.
I also wish to take this opportunity to inform you that after a reasonable time from the application to the Switzerland and Liechtenstein to the "General License" n 95, it will be necessary for us to take action about the assets blocked on behalf of Switzerland and the Liechtenstein persons and who have not been certified by your Government. Before taking such measures, my Department will conduct an exchange of views with your Government. In order to simplify the problem, it is suggested that your Government take immediate steps to encourage all people to go to your Government for the release of their assets. This will help your Government to determine promptly if the assets are to be certified, or if they must be reported to my Department because of enemy interest.
Please accept, Mr. federal councillor, the assurances of my high consideration.
(follows the signature)
RS 14 351 currently "federal Department of Foreign Affairs.
The English text published in the RO 62 982 is not reproduced here.
11 State. July 2006