OFAC Regulatory Provisions - 31 CFR § 566.201 - Prohibitions or strict conditions with respect to correspondent or payable-through accounts of certain foreign financial institutions identified by the Secretary of the Treasury.

Ed. Note: if you’re new to TURBOFAC, please take note that the text string filtration function generally shouldn’t be used for terms such as “ordinarily resident,” “causing” or “new debt”. For research on the meaning of words and phrases such as those, i.e. terms central to the key legal issues in sanctions law that appear on a cross-programmatic basis, you’re typically better off locating and checking the appropriate box in the “Key Legal Issues” search category, which will limit the results to those that have been manually assessed as being relevant for the interpretation of the terms at issue.

Try typing your search term (“ordinarily resident,” “new debt,” or something else) in the “Find a Search Filter” box at the top of the page, and the corresponding “Key Legal Issues” check box will pop up instantly, if one exists. Once you check the box (e.g. “new debt,” with ~55 results), you can always use the text string filtration function to further refine your search (e.g. by typing “invoice” and narrowing the ~55 results to ~10).

Note in addition that the same applies to text string searches such as “14071” (if you’re looking for items related to EO 14071). By typing “14071” in the “Find a Search Filter” field up top, you will be able to instantly narrow the results down to items manually assessed as relating to EO 14071. Ditto terms such as “515.204” or “Iran General License G” (try the “Discrete Legal Provision” search category). Please contact [email protected] or [email protected] with any questions on search results and efficiency.

Please click "Apply Text String Filters" again after clicking the "Close" button immediately below.

TURBOFAC Commentary (362 words)

Notes:

*This is a standard "CAPTA sanctions" regulatory provision, with distinctions from analogous provisions in other sanctions programs discussed below. For discussion concerning the relationship between these sanctions and other sanctions permitting for the full blocking of persons engaged conduct that may or may not be of a sort that can trigger these sanctions as well, refer to General Note on Provisions Containing Secondary/"CAPTA" Sanctions Applicable to Foreign Financial Institutions (System Ed. Note).

*Notes specific to 566.201.

1) Unlike other -based secondary sanctions programs, note that the HFSR are irregular insofar as there is no way to search the list for persons subject to secondary sanctions pursuant to this provision. One must first search for SDGTs, and then look for the specific note pertaining to...

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31 CFR § 566.201 - Prohibitions or strict conditions with respect to correspondent or payable-through accounts of certain foreign financial institutions identified by the Secretary of the Treasury.

TURBOFAC Commentary (362 words)