31 C.F.R. § 545.523 Extensions or renewals of letters of credit authorized.
Title 31 - Money and Finance: Treasury
(a) The extension or renewal, at the request of the account party, of a letter of credit or a standby letter of credit issued or confirmed by a U.S. financial institution is authorized, provided the transfer of funds is not made to a blocked account. (b) Transactions conducted pursuant to this section must be reported to the Compliance Programs Division of the Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW., Annex, Washington, D.C. 20220, within 10 days after completion of the transaction.
Title 31: Money and Finance: Treasury
PART 545—TALIBAN (AFGHANISTAN) SANCTIONS REGULATIONS
Subpart E—Licenses, Authorizations and Statements of Licensing Policy
§ 545.523 Extensions or renewals of letters of credit authorized.
