C.F.R. » Title 31 » CHAPTER V—OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY › PART 597—FOREIGN TERRORIST ORGANIZATIONS SANCTIONS REGULATIONS › Subpart D—Interpretations

31 C.F.R. § 597.404

Setoffs prohibited

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A setoff against blocked funds (including a blocked account) by a U.S. financial institution is a prohibited transaction under § 597.201 if effected after the effective date.