[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: 31CFR550.312]



[Page 278]

 

                  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.