GroundRules
31 CFR 598.505: Investment and reinvestment of certain funds.
Where this section sits in the code
- Title 31—Money and Finance: Treasury
- Subtitle B—Regulations Relating to Money and Finance
- CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
- PART 598—FOREIGN NARCOTICS KINGPIN SANCTIONS REGULATIONS
- Subpart E—Licenses, Authorizations, and Statements of Licensing Policy
Subject to the requirements of § 598.206, U.S. financial institutions are authorized to invest and reinvest assets held in blocked accounts in the name of a specially designated narcotics trafficker, subject to the following conditions:
(a) The assets representing such investments and reinvestments are credited to a blocked account or subaccount that is held in the same name at the same U.S. financial institution, or within the possession or control of a U.S. person, but in no case may funds be transferred outside the United States for this purpose;
(b) The proceeds of such investments and reinvestments are not credited to a blocked account or subaccount under any name or designation that differs from the name or designation of the specific blocked account or subaccount in which such funds or securities were held; and
(c) No immediate financial or economic benefit accrues (e.g., through pledging or other use) to the specially designated narcotics trafficker.
Collected 2026-08-27T02:25:25Z. Source file · JSON