[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: 31CFR588.311]



[Page 411-412]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

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

 

PART 588_WESTERN BALKANS STABILIZATION REGULATIONS--Table of Contents

 

                      Subpart C_General Definitions

 

Sec. 588.311  U.S. financial institution.



    The term U.S. financial institution means any U.S. entity (including 

its foreign branches) that is engaged in the business of accepting 

deposits, making, granting, transferring, holding, or brokering loans or 

credits, or purchasing or selling foreign exchange,



[[Page 412]]



securities, commodity futures or options, or procuring purchasers and 

sellers thereof, as principal or agent; including but not limited to, 

depository institutions, banks, savings banks, trust companies, 

securities brokers and dealers, commodity futures and options brokers 

and dealers, forward contract and foreign exchange merchants, securities 

and commodities exchanges, clearing corporations, investment companies, 

employee benefit plans, and U.S. holding companies, U.S. affiliates, or 

U.S. subsidiaries of any of the foregoing. This term includes those 

branches, offices and agencies of foreign financial institutions that 

are located in the United States, but not such institutions' foreign 

branches, offices, or agencies.