[Code of Federal Regulations]

[Title 31, Volume 3]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR500.314]



[Page 17]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

 CHAPTER V--OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY

 

PART 500_FOREIGN ASSETS CONTROL REGULATIONS--Table of Contents

 

                      Subpart C_General Definitions

 

Sec. 500.314  Banking institution.



    The term banking institution shall include any person engaged 

primarily or incidentally in the business of banking, of granting or 

transferring credits, or of purchasing or selling foreign exchange or 

procuring purchasers and sellers thereof, as principal or agent, or any 

person holding credits for others as a direct or incidental part of his 

business, or any broker; and, each principal, agent, home office, branch 

or correspondent of any person so engaged shall be regarded as a 

separate ``banking institution.''