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) > 561.307—Payable-through account.

561.307—Payable-through account.

For purposes of this part, the term payable-through account means a correspondent account maintained by a U.S. financial institution for 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.