Reading Room Document

Whether Executive Order No. 10925 of March 6, 1961, as amended by Executive Order No. 11114 of June 22, 1963, together providing for the inclusion of prescribed non‐ discrimination clauses in government contracts, may be applied to the employment practice

The document is a legal opinion regarding whether Executive Order No. 10925 and Executive Order No. 11114, which provide for the inclusion of non-discrimination clauses in government contracts, apply to the employment practices of national banks acting as depositaries of federal funds. The conclusion reached is that contracts of deposit with banks, made by the federal government under circumstances where the bank is free to accept the funds or not, would be covered by these orders. The document presents a review of the contractual relationship between banks and depositors, the applicability of the executive orders to government contracts, and the necessity of mutual consent in the contractual nature of the depositary relationship. It also addresses the assumption that the Treasury Department would fully utilize its powers to deposit government funds in national banks and the discretionary nature of the Secretary's power in compelling depositary services.

January 27, 1965