Executive Order 11176—Inspection of Certain Interest Equalization Tax Information Returns by the Board of Governors of the Federal Reserve System and the Federal Reserve Banks

By virtue of the authority vested in me by section 6103(a) of the Internal Revenue Code of 1954 (68A Stat. 753; 26 U.S.C. 6103(a)) as amended by section 3 of the Interest Equalization Tax Act, approved September 2, 1964 (Public Law 88-563), it is hereby ordered that any information return made by a commercial bank with respect to loans and commitments to foreign obligors under section 6011 (d) (2) of the Internal Revenue Code of 1954, as added by section 3(a) of the Interest Equalization Tax Act, shall be open to inspection by the Board of Governors of the Federal Reserve System and the Federal Reserve Banks in the interest of sound administration of the interest equalization tax. Such inspection shall be in accordance and upon compliance with the rules and regulations prescribed by the Secretary of the Treasury in a Treasury decision, relating to inspection of certain interest equalization tax information returns by the Board of Governors of the Federal Reserve System and the Federal Reserve Banks, approved by me this date.

This order shall be effective upon its filing for publication in the Federal Register.

LYNDON B. JOHNSON

The White House,

September 3, 1964.