[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: 31CFR560.317]



[Page 303]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 560_IRANIAN TRANSACTIONS REGULATIONS--Table of Contents

 

                      Subpart C_General Definitions

 

Sec. 560.317  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, including but not limited to: overdrafts; currency swaps; 

purchases of debt securities issued by the Government of Iran; 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 a prohibited borrower or 

prohibited recipient; the issuance of standby letters of credit; and 

drawdowns on existing lines of credit.