Remaining Iranian assets face a transfer deadline

The Treasury Department has set Friday as the deadline for the transfer of up to $4 billion of Iran's financial assets to the Federal Reserve Bank of New York. The transfer of the ank deposits and other assets is one of the last steps before the money is returned to Iran on July 19 under the agreement in January that freed the US hostages. The Treasury directive to the banks provides that Iran's deposits will not be subject to any penalty for early withdrawal from time de posits in calculating interest due.