1. Regulations
  2. title 31
  3. chapter V
  4. part 566
  5. subpart C
  6. § 566.316

View all text of Subpart C [§ 566.300 - § 566.320]

§ 566.316 - Payable-through account.

The term payable-through account means an account, including a transaction account as defined in § 566.317, opened at a depository institution by a foreign financial institution by means of which the foreign financial institution permits its customers to engage, either directly or through a subaccount, in banking activities usual in connection with the business of banking in the United States.

AUTHORITY: 3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); Pub. L. 114-102, 129 Stat. 2205 (50 U.S.C. 1701 note); Pub. L. 115-272, 132 Stat. 4144 (50 U.S.C. 1701 note).

SOURCE: 81 FR 22186, Apr. 15, 2016, unless otherwise noted.

CITE AS: 31 CFR 566.316