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The Foreign Exchange Depository (FED), located in the Reichsbank Building, Frankfurt am Main, was the successor organization to the Currency Branch, SHAEF, which had been created by Supreme Headquarters, Allied Expeditionary Force on September 7, 1944. the primary function of the Currency Branch was the receiving, holding, and supplying of occupation currency for Allied Armed Forces and for Military Government operations, but it was also empowered "to act as required as depository for and/or to exercise control over assets seized or impounded by Allied Military authorities."
The Currency Branch/Depository was always under the control, supervision, and direction of the Finance Division of the following successive headquarters:
SHAEF G-5 to July 14, 1945
USFET G-5 to October 1, 1945
OMG (US Zone) to April 1, 1946
OMGUS from April 1, 1946
With the termination of operations in other European countries and restriction of remaining operations to Germany, the Currency Branch became a Section of the Foreign Exchange Depository.
The FED was completely organized in April 1946, with Executive, Administrative, Depository, Claims, Currency and Accounts sub-sections.
In the course of its development the FED established its primary functions into five categories:
1. Custody, inventory and accounting for assets uncovered in Germany by Allied Forces.
2. Custody of assets delivered in U.S. zone under Military Government Law No. 53.
3 Investigation of ownership and claims pertaining to assets held.
4. Custody, issue, retirement and accounting for Allied Military marks of U.S. Forces.
5. Accounting for Military Government Court fines.
Under special authorization additional services were rendered, including:
1. Acting as custodian for special jewel collections.
2. Acting as custodian for Military Payment certificates prior to their issuance by
Disbursing Officers.
3. Acting as custodian for valuables seized by G-2 Censorship Division.
4. Acting as central clearing agency in processing payments to released German Prisoners
of War.
In addition to its normal currency operations the FED during the early part of 1945 began to receive foreign exchange assets from various sources in Germany. A suitable structure for the latter purpose was found in the Reichsbank Building in Frankfurt, which was taken over and altered in certain respects to provide great vault space and security.
The first shipment of valuables, from the Merkers Mine, was received at the FED on April 15, 1945. FED personnel at Merkers Mine supervised the loading and transport of this enormous hoard consisting of gold bullion, gold and silver coin, platinum, jewelry, a large quantity of "SS Loot," and various currencies, including 2.7 Billion Reichsmarks. Almost 12,000 containers of various types were transported by truck convoys, over a period of several days, guarded by military escort. Before the end of 1945, a total of 76 additional shipments of foreign exchange assets were received. They came principally from the U.S. zone of occupation in Germany, but also from Austria, Czechoslovakia, and other areas into which the Army had penetrated.
In June 1945, a team of gold experts from the Treasury Department arrived in Frankfurt to make a survey of the major precious metal stocks in the FED. They continued their work for some 60 days with the assistance of FED personnel, and at the conclusion submitted a comprehensive report with a total valuation close to $300 million for precious metals, consisting principally of gold bullion and gold coins.
During the next three years the FED received, stored, inventoried, and disbursed well over $500 million worth of loot and other valuables. FED responsibilities were turned over on September 21, 1949, to the Office of the U.S. High Commissioner for Germany, where it was placed under the HICOG's Finance Division.
Central Files 1945-50
Boxes 392-466 location: 390/46/8/05
Box # File # File Title or Subject
392 - U.S. Concerns in Germany
- U.S. Treasury
- War Diary location: 390/46/8/05
393 - Outgoing Correspondence 1946
300.61 Letters, OMGUS location: 390/46/8/05
394 310.3 Removal of Assets from FED-Authorizations Required
900.10 Organization and History of FED (2 folders)
900.11 Organization and History of Currency Section
900.13 Organization and History of Depository Section
900.14 Plan for Operation of the FED
900.151 Title 16, Finance (2 folders) location: 390/46/8/05
395 900.152 Title 17, Property Control
900.164 Law 53
900.17 Instructions to Military Government Financial Officers-No. 3 (2 folders)
900.20 Government, German Land and Local, U.S. Zone
900.30 Joint German Committee for Finance
900.40 Investigations, Field
900.45 Inspections, IG (2 folders) location: 390/46/8/05
396 900.80 Joint Foreign Exchange Agency location: 390/46/8/05
396-397 900.10 thru 900.15 Cables location: 390/46/8/05
397 900.30 thru 900.37 Standard Operating Procedures (8 folders) location: 390/46/8/05
398 910.44 Memorandums, Currency Section
910.45 Memorandums, Depository Section
910.42 Memorandums, Administrative Section
910.43 Memorandums, Claims Section
910.46 Memorandums, Executive Section
910.49 Memorandums, Others
910.40 Memorandums, Numbered
910.70 Internal Security-Guard Orders
910.71 Internal Security-Key Plan
910.72 Internal Security-Vault Entry Regulations
910.73 Internal Security-Vault Entry Register
location: 390/46/8/06
399 910.73 Internal Security, Violations
910.731 Internal Security, DP Register
910.75 External Security
910.90 Reports-Berlin (FD) Trips
910.910 Reports-Conferences-Currency
910.911 Reports-Conferences-Depository
910.92 Reports-Daily Journal 1950
910.92 Reports-Daily Journal 1949 location: 390/46/8/06
400 910.92 Reports-Daily Journal 1948
910.93 Reports-Weekly Reports
910.94 Reports-Monthly Reports
910.95 Reports-Weekly Staff Conferences-FED
910.96 Reports-Outgoing Suspense Items
910.97 Reports-Monthly for OFA [Office of the Financial Advisor]
910.98 Reports-Weekly, FED Status Report
location: 390/46/8/06
401 920.401 FED Space and Liquidation
930.31 Procedures location: 390/46/8/06
401-414 - Inventory Forms location: 390/46/8/06
415 930.72 General Work Papers
930.73 (Internal)Audits and Examinations
930.91 Reports-Monthly 1944
930.91 Reports-Monthly 1945-1946
930.92 Reports-Special
940.01 Claims, General location: 390/46/9/01
415-416 940.002at al Claims, Belgium location: 390/46/9/01
416 940.01et al Claims, France (4 folders)
940.006 Claims, Britain (Securities)
940.12 Claims, France (Rothschild Jewels)
940.21 Claims, Hungary
940.0241 Claims, Italian (Platinum)
940.0242 Claims, Italian-Gold
940.025 Claims, Poland (Securities)
940.026 Claims, Poland (Precious Metals)
940.03 Netherlands Gold location: 390/46/9/01
417 940.031et al Claims Netherlands (15 folders) location: 390/49/9/01
418 940.04 Claims, Czechoslovakia (Jewelry)(4 folders)
940.04 Claims, Czechoslovakia-Silver
940.04 Claims, Czechoslovakia-Gold and National Property
940.04 Claims, Czechoslovakia-Securities
940.05 Claims, Norway-Currency
940.055 Claims, Monaco- Silver Goods
940.07 Claims, Yugoslavia General location: 390/46/9/01
419 940.075 Claims Degussa Silver
940.076 Claims, I.G. Farben Platinum
940.76 I.G. Farben-Owned Stocks of Platinum and Iridium
location: 390/46/9/02
420 940.08et al Claims, Individuals (11 folders)
940.091 Claims, Yugoslavia-Gold Bullion
940.10et al Claims, Rejected (6 folders)
940.15 Restitution, General
940.15A Restitution Policy (Paris Conference)
940.15B Restitution
940.151 Restitution-Currency location: 390/46/9/02
421 940.151 Currency, Merkers Mine
940.151 Analysis of Currencies Held at FED
940.151 US Currency Shipment
940.151 Restitution-Currency
940.152 Restitution-Numismatic Coins
940.153 Analysis of Securities Held by FED
940.154 Second Turnover over to the International Refugee Organization
940.154 Restitution, Monetary Gold location: 390/46/9/02
422 940.1551 Monetary Gold, First Distribution
940.1551 Monetary Gold, Second Distribution [contains Colonel Bernard Bernstein's report on SS loot]
940.1551 Monetary Gold, Netherlands
940.1551 Restitution, Monetary Gold
940.1552 Restitution, Silver location: 390/46/9/02
423 940.16 Reparations, Paris Conference
940.17 Restitution Control Branch
940.18 External Restitution Statements
940.18 List and Evaluation of Assets Restituted or Released by the FED
940.30 Investigations and Inquiries
940.302 Investigation, Helmuth Maurer
940.303 Investigation, Foreign Missions
940.304 Bruno Melmer
940.304 Investigation, Melmer
940.304 Melmer Deliveries
940.304 SS Loot Melmer
The 940.304 files contain information about the Melmer SS account at Reichsbank; statement by Albert Thoms{Note 1} ; information on the distribution of looted SS gold; an order of May 16, 1939 for Jews to give up their possessions; list of individual saving account records from concentration camp victims; and detailed interview with Emil Puhl.
940.3061 Hauphreuhandstelle Ost
940.306 Roges File
940.306 Investigation, Roges
940.307 Investigation, Devisen Schutzkommando
location: 390/46/9/02
424 940.309 Precious Metals
940.31 Field Trips
940.32 Liaison
940.32 Liaison Visits
940.34 Assets Held by French Authorities
940.35 Reichsbank Gold Transactions
940.36 Assets Held by British Authorities
940.37 Records, Precious Metals Department of the Reichsbank
940.38 PCIRO, General
940.40 Shipments, General
940.401 Joint Inventory, Schedule "A"
940.401 Joint Inventory, Schedule "B"
940.401 Joint Inventory, Schedule "C"
940.401 Restitution of Silver to Yugoslavia
940.401 Shipment No. 1
940.401 Outgoing Shipment No. 1 location: 390/46/9/02
425 940.401 Merkers Mine [includes information on looted art]
940.401 Gold List "A"
940.401 Gold List "B"
940.401 Gold List "C" and "D"
940.401 Gold List "E"
940.401 Cage Sheets location: 390/46/9/02
426-428 Shipping Tickets and Related Records, including Hungarian Silver location: 390/46/9/03
429 940.4020 Outgoing Shipment, Hungarian Gold (4 folders)
940.4020 History of the Hungarian Gold
940.4020 Photographs of the Hungarian Gold Shipment
940.4020 Shipment 20 Book I location: 390/46/9/03
430 Shipment Records, including Dutch diamonds
location: 390/46/9/03
431 940.4022 Netherlands Diamonds Restitution (3 folders)
940.4022 I.G. Farben Platinum and Iridium location: 390/46/9/03
431-439 940.4022et al Shipment Records location: 390/46/9/03
439 940.55 Valuables Not Located in Reichsbank
940.5601 Interrogations of Karl Friedrich Wilhelm
940.5602 Interrogations of Karl Graupnet
940.5603 Interrogations of Karl Jahnke
940.5604 Interrogation of Emil Puhl [September 18, 1945]
location: 390/46/9/04
440 940.60 Howard{Note 2} Report re: Gold, Silver and Platinum
940.60 Overall Gold Report
940.60 Gold Report and Original Work Sheets
940.60 General Papers on Gold Study
940.60 Gold Report Work Sheets
940.60 Gold Report (Work Papers)
Shipment Summaries
Gold Report Work Sheets (5 folders) location: 390/46/9/05
441 "Gold Report worksheets," used to generate the Howard Report inventory of gold at FED, summer 1945. Provides detailed information on gold bars. location: 390/46/9/05
442 940.601 Gold, Belgium (3 folders)
940.602 Gold, Turkish
940.603 Gold, Rumania
940.604 Gold Found in Austria
940.605 Gold, Luxemburg
940.606 Work Papers-Italy Gold Report (3 folders)
940.606 Gold, Italy
940.606 Monetary Gold, Italy
940.6015 Gold, Spain
940.6025 Gold, Yugoslavia location: 390/46/9/05
443 940.607 Czechoslovakia, Gold (2 folders)
940.607 Czechoslovakia Gold Report
940.608 Gold, Netherlands, General Correspondence
940.6081 Netherlands Gold
940.6082 Netherlands Gold (5 folders) location: 390/46/9/05
444 940.61 Gold, Bank for International Settlements
940.62 Work Papers
940.63 Gold, Neither Monetary nor Non-Monetary
940.64 Gold, Tripartite Commission
940.65 Gold, German Foreign Office
940.6096 Transactions Between Reichsbank and Swedish Riksbank
940.6096 Gold Transaction, Swedish Riksbank
940.62 Gold Stocks, Reichsbank Berlin
940.62 Gold Reserves of Reichsbanks location: 390/46/9/05
445 940.65 German Foreign Office Records
950.0 Cash, General
950.011 Cash, Inventory
950.02 Cash, In Reserve
950.03 Banks, General
950.035 Banks-FFM.1922-B, General location: 390/46/9/05
446 950.280 POW Payments-Instructions
950.2831et al Correspondence-OMG, Hamburg, Bremen, Greater Hesse
location: 390/46/9/05
447 950.282et al Lists of Military Payment-Orders Paid location: 390/46/9/06
448 950.2834et al Correspondence-OMG, Greater Hesse, Wuerttemberg- Baden, Bavaria location: 390/46/9/06
449 950.2837 Correspondence-OMG, Berlin Sector
950.284 Correspondence-Central Disbursing Officer (2 folders)
950.2838 Correspondence-French Zone location: 390/46/9/06
450 950.285 Correspondence-L.C. Banks
950.286 Correspondence-OFD
950.287 PW Payment Expense Bills
950.2871et al Correspondence-Berlin, Bremen, Hesse
location: 390/46/9/06
451 950.2874et al Correspondence-Wuerttemberg-Baden, Bavaria
950.29 Disbursement-War Crimes Commission
950.3 Currency, General
950.31 Currency, Counterfeit 1945
950.311 Currency, Counterfeit Investigations location: 390/46/9/06
452 950.32 Currency-Invalid
950.33 Currency-Mutilated
950.349 Currency-Destruction, AMM Notes
950.34 Currency-Destruction
950.35 Currency-Exchanges
950.37 Currency-Worthless location: 390/46/9/06
453 950.36 Currency-1000 Mark Notes
950.38 Currency-Printing (3 folders)
950.39 Currency-Russian
950.391 Currency-Photostatic
950.932 Currency-Military Payment Certificates
950.4 Funds-General
950.40 Funds-Currency Made Available location: 390/46/9/06
454-455 950.401 Funds-AM Marks location: 390/46/9/07
456 950.402 Funds-AMM Currency Register location: 390/46/9/07
456-457 German Marks-Shipments location: 390/46/9/07
457 950.41 Funds-Military Government Current A/C
950.404 Funds-RM General
950.420 Funds-General-Captured and Confiscated
950.421 Funds-Receipts-Captured and Confiscated
950.422 Funds-Claims-Captured and Confiscated
950.42 Funds-Captured and Confiscated
950.43 Funds-POW
950.430et al PW Funds (3 folders) location: 390/46/9/07
458 950.433 PW Funds
950.45 Funds-Sale of Materials
950.460 Funds-Unclaimed-Owner Known
950.461 Funds-Unclaimed-Owner Unknown
950.470 Funds-Special Deposit Account A/C CDO
location: 390/46/9/07
459 950.471 Funds-Special Deposit Monthly Statement
950.480 Funds-Special Deposit Suspension
950.5et al Vouchers (5 folders)
950.522 MG-Court Confiscations
950.52 MG-Court Collections
950.521 MG-Court Fines
950.55 Sub-Accountants
950.60 Personnel-German, Currency Section location: 390/46/9/07
460 950.61 Personnel-Other, Currency Section
950.70 Correspondence Out-IRS
950.71 Correspondence In
950.720 OFD Correspondence
950.721 OFD-Reports
950.75 Postage Stamps Germany
950.760 Austrian Currency Section
950.761 Belgium and Luxembourg Currency Section
950.762 Netherlands Currency Section
950.763 Denmark Currency Section
950.764 France Currency Section
950.765 British Currency Section
950.90 Reports-Semi-Monthly/Cash location: 390/46/9/07
461 950.90 Reports-Semi-Monthly/Cash 1946
950.90 Reports-Semi-Monthly/Cash 1947-1948
950.91 Reports-Monthly Finance Division 1945
950.91 Reports-Monthly Finance Division 1946
location: 390/46/10/01
462 950.91 Reports-Monthly Finance Division [1947]
950.92 Reports-Quarterly, Currency
950.93 Reports-Audits and Investigations
950.94 Daily progress Reports
950.990 Reports-Incoming OFD
960.10 Inventory, General
960.11 Inventory, Silver location: 390/46/10/01
463 960.12 Inventory, Gold
960.13 Inventory, Coins and Currency
960.14 Inventory, Jewelry
960.15 Inventory, SS Loot
960.16 Inventory, Securities
960.17 Lists of Securities
960.17 Master Catalogue-Foreign Securities
960.17 Supplemental Catalogue-Foreign Securities
960.19 Inventory, Other Assets location: 390/46/10/01
464 960.20 Appraisal, General
960.23 Appraisal, Coins and Currency
960.26 Appraisal, Securities
960.30 Property, Incoming
960.301 Property, Incoming-Non-Monetary Gold
960.40 Property, Outgoing
960.411 National Bank of Hungary
960.50 Currency, International Rates
960.55 Balances and Other Weighing Instruments
960.60 Operations location: 390/46/10/01
465 960.61 Security Officer Daily Reports 1946-1947 (5 folders)
location: 390/46/10/01
466 960.61 Security Officer Daily Reports 1948
960.90 Reports
960.901 Reports of Deposits of Foreign Exchange
960.902 Marshaling of Assets in U.S. Zone
960.903 Accounting Discrepancies location: 390/46/10/01
Miscellaneous Records Regarding Operations
Payments, and Shipments 1945-1948
Boxes 467-471 location: 390/46/10/01
Box # File # and/or Subject
467-468 Liquidation of SHAEF Currency Section, first custodians of gold, Currency Section inventories and related records.
location: 390/46/10/02
469 Currency Section inventories, cables and Files 11/427/11 and 11/427/13 contain standard operating procedures on transfer of non-monetary gold to PCIRO. location: 390/46/10/02
470-471 Files on "Merkers's Mine Report," including rough inventory of gold plus files on restitution by country, and related material. location: 390/46/10/02
Records Relating to Operations "Birdog" and "Doorknob" 1945-1950
Records pertain to efforts to have the American Bank Note Company and the Bureau of Engraving and Printing produce German currency. Within the files is very specific information about the shipments of uncovered/looted monetary and non-monetary gold and other valuables to Frankfurt, 1945. Note: the first two boxes in this series appear to be a continuation of the Miscellaneous records. Box 472 contains "vouchers" containing detailed inventories of every shipment of valuable received by the FED. Box 473 contains the end of the previous section of file. Included are "Inventories of Shipments," which are inventories for the first 64 shipments of valuables received by the FED; and "Statements of shipments," which includes a register of shipments received by the FED. Box 83 contains a Prussian Mint gold bar list. Boxes 472-483 location: 390/46/10/02
Records Relating to Shipments of Gold and Silver 1945-1947
Boxes 484-488 location: 390/46/10/04
Box # File Titles
484 Delivery of Gold-France
France-Monetary Gold
Italy-Set Aside
Schedule of Monetary Gold Coins
Gold Delivery-Netherlands
Gold Delivery-Luxembourg
Gold Deliver-Belgium
485 Austria-Monetary Gold
Austria-Monetary Gold-Good Delivery Bars
Gold Set Aside-Coin-Austria
Italy Coin List
Italy-Prussian Mint
Monetary Gold Coin Inventoried by FED
Tallies-First Movement
Bar List
Coin List
Coin List-Netherlands
Luxembourg Coin List
Weight List
Distribution of Gold Bars and Coin
Gold Bar Control Sheets
Location Charts
Analysis of Gold [reconciliations of Howard Report with actual gold count by the Foreign Exchange Depository]
486 Miscellaneous Lists
487 Netherlands Delivery
Austria Coin List
SOP-First Distribution
Operation SOP's
Original Location Sheets
Belgium Coin List
Austria Set Aside
Gold Delivery-Luxembourg
Gold Delivery-Netherlands
488 Gold Delivery-Belgium
History of Gold Pot Delivery No. 1
Inventory Shipment #1 Working Papers
Banding Officers Report
Bar List
Worksheets of Inventory Completed 29 August 1945
Records Relating to Tabulation and Classification of Deposits 1945-1949
Includes inventory worksheets, gold and diamond lists, currency and coins records, records relating to securities, and shipping records, records.
Boxes 489-559 location: 390/46/10/05
Box # File Title
531 Daily Volume Report
Weekly Progress Report-Depository Section
Vault Transfer Record Forms location: 390/46/11/04
532 Tally In
Lists of Gold Bar Numbers
Bar List-Prussian Mint
Bar List-Prussian Mint-Alloy Bars
Bar List-No Melters Stamp
Bar List-Good Delivery
Bar List-Russian Mocksa
Bar List-Norddeutsche
Bar List-Jugoslavian B.O.R.
Bar List-Italian Lab
Bar List-Degussa
Miscellaneous Gold-Summary of Page Totals location: 390/46/11/04
533 Gold Lists location: 390/46/11/04
534 Tally In location: 390/46/11/04
535 Gold Lists location: 390/46/11/04
Inventory Forms of Assets Released 1945-1947
Boxes 560-563 location: 390/46/12/01
Miscellaneous Registers 1945-1949
Boxes 564-567 location: 390/46/12/01
Records of the Currency Section, Financial Branch, G-5 Supreme Headquarters, Allied Expeditionary Forces (SHAEF) 1944-1945
Boxes 568-574 location: 390/46/12/02
Records of the Currency Section 1944-1945
Includes records pertaining to Reichsbank safe deposit (Box 578) and records pertaining to Eva Braun (Box 580). Boxes 575-582 location: 390/46/12/03
{1}Return to text He had served at the Reichsbank since 1910. He had been in the Precious Metals Department since 1930 and was named to head the department around 1939.
{2}Return to text Howard was the senior Treasury Department official at the Foreign Exchange Depository.
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