31 CFR § 566.316
Payable-through account
July 31, 2023
§ 566.316 Payable-through account.
The term payable-through account means an account, including a transaction account as defined in § 566.317, opened at a depository institution by 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.