[Code of Federal Regulations]
[Title 31, Volume 2]
[Revised as of July 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR550.312]

[Page 760]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
 
PART 550_LIBYAN SANCTIONS REGULATIONS--Table of Contents
 
                          Subpart C_Definitions
 
Sec. 550.312  Credits or loans.

    The term credits or loans means any transfer or extension of funds 
or credit on the basis of an obligation to repay, or any assumption or 
guarantee of the obligation of another to repay an extension of funds or 
credit. The term credits or loans includes, but is not limited to: 
overdrafts; currency swaps; purchases of debt securities issued by the 
Government of Libya after January 7, 1986; purchases of a loan made by 
another person; sales of financial assets subject to an agreement to 
repurchase; renewals or refinancings whereby funds or credits are 
transferred to or extended to the Government of Libya; and draw-downs on 
existing lines of credit.