OFAC plays Musical Lists… 561 out, CAPTA in

Introduction of the Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”) and Removal of the List of Foreign Financial Institutions Subject to Part 561 (the “Part 561 List”)

The Department of the Treasury’s Office of Foreign Assets Control (OFAC) is replacing the List of Foreign Financial Institutions Subject to Part 561 (the “Part 561 List”) with the List of Foreign Financial Institutions Subject to Correspondent Account or Payable-Through Account Sanctions (the “CAPTA List”).

The CAPTA List contains identifying information of foreign financial institutions for which the opening or maintaining of a correspondent account or a payable-through account in the United States is prohibited or is subject to one or more strict conditions. The specific strict conditions or prohibitions to which the foreign financial institutions are subject to include the Ukraine Freedom Support Act of 2014, as amended by the Countering America’s Adversaries Through Sanctions Act, the North Korea Sanctions Regulations, 31 C.F.R. part 510, the Iranian Financial Sanctions Regulations, 31 C.F.R. Part 561, which were identified on OFAC’s now defunct Part 561 List, and the Hizballah International Financing Prevention Act of 2015, which would be identified on the Hizballah Financial Sanctions Regulations List (the “HFSR List”).

The CAPTA List is not part of the Specially Designated Nationals (SDN) List. Information that appears on the CAPTA list will be included in the data formats associated with the Consolidated Sanctions List.

OFAC is also issuing an amendment to the Iranian Financial Sanctions Regulations, 31 CFR part 561, to replace references to the Part 561 List in those regulations with references to the CAPTA List. This regulatory amendment is currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on March 14, 2019.

Additionally, OFAC is issuing an amendment to the Hizballah Financial Sanctions Regulations, 31 CFR part 566, to replace references to the HFSR List in those regulations with references to the CAPTA List. This regulatory amendment is currently available for public inspection with the Federal Register and will take effect upon publication in the Federal Register on March 14, 2019.

Finally, to implement these changes the following listing has been moved from the Part 561 List to the new CAPTA List.  The only alteration to this record has been the removal of the [561List] program tag and the addition of the new [561-Related] program tag. 

BANK OF KUNLUN CO LTD (f.k.a. KARAMAY CITY COMMERCIAL BANK CO LTD.; f.k.a. KARAMAY URBAN CREDIT COOPERATIVES), 172 Xibin Rd, Ranghulu District, (Daqing, Heilongjiang Branch), Daqing 163453, China; 9 Dongzhimen North Street, Dongcheng District, (Head Office), Beijing 100007, China; No. 7 Century Ave, (Registered Office), Xinjiang, Karamay 834000, China; No. 68 Zhongya South Rd, Economic and Technological Development Zone, (Urumqi, Xinjiang Branch), Urumqi 830026, China; SWIFT/BIC CKLBCNBJ; United States financial institutions are prohibited from opening or maintaining a correspondent account or a payable-through account for the foreign financial institution listed here, pursuant to 31 C.F.R. section 561.201(c) [561-RELATED].

Link:

OFAC Notice

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