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OFAC Introduces CAPTA List, Amends Financial Sanctions Regulations

The U.S. Treasury Department ("Treasury") Office of Foreign Assets Control ("OFAC") introduced a List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the "CAPTA List"). The CAPTA List contains information on foreign financial institutions for which the opening or maintaining of a "correspondent account or a payable-through account" in the United States is barred or is subject to one or more conditions. The CAPTA List replaces the List of Foreign Financial Institutions Subject to Part 561.

Separately, OFAC issued amendments to the Iranian Financial Sanctions Regulations and the Hizballah Financial Sanctions Regulations to incorporate references to the CAPTA List. The amendments are effective as of March 15, 2019.

Primary Sources

  1. U.S. Treasury Department Resource Center: Introduction of ​Correspondent Account or Payable-Through Account Sanctions and Removal of List of Foreign Financial Institutions Subject to Part 561
  2. U.S. Treasury Department: List of Foreign Financial Institutions Subject to Part 561
  3. U.S. Treasury Department: List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions
  4. U.S. Treasury Department: Final Rule
  5. Technical Amendments - List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions

Tags

Body of Law
Sanctions
Jurisdiction
US - Federal
Organization
Treasury / FinCEN / OFAC / CFIUS
Sub-Author
OFAC