31 C.F.R. § 585.511 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 no transfer of funds is made except to a blocked account. (b) Transactions conducted pursuant to this section must be reported to the Blocked Assets Division, Office of Foreign Assets Control, U.S. Treasury Department, 1500 Pennsylvania Ave., NW.—Annex, Washington, DC 20220, within 10 days after completion of the transaction.
Title 31: Money and Finance: Treasury
PART 585—FEDERAL REPUBLIC OF YUGOSLAVIA (SERBIA AND MONTENEGRO) AND BOSNIAN SERB-CONTROLLED AREAS OF THE REPUBLIC OF BOSNIA AND HERZEGOVINA SANCTIONS REGULATIONS
Subpart E—Licenses, Authorizations, and Statements of Licensing Policy
§ 585.511 Extensions or renewals of letters of credit authorized.
