31 CFR § 510.321
Payable-through account
July 31, 2023
§ 510.321 Payable-through account.
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.