CFR > Title 31 - Money and Finance: Treasury > SUBTITLE B—Regulations Relating to Money and Finance > CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY (parts 501 to 598) > PART 561—IRANIAN FINANCIAL SANCTIONS REGULATIONS > SUBPART C—-General Definitions (§561.301 to §561.317) > 561.306—Correspondent account.

561.306—Correspondent account.

For purposes of this part, the term correspondent account means an account established by a U.S. financial institution for a foreign financial institution to receive deposits from, or to make payments on behalf of, the foreign financial institution, or to handle other financial transactions related to such foreign financial institution.