Sec. 203. Requirement to take special measures at domestic financial institutions
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The Secretary of the Treasury shall require domestic financial institutions and domestic financial agencies to take 1 or more of the special measures described under section 5318A(b) of title 31, United States Code, with respect to a financial institution operating outside of the United States, if the Secretary determines that the financial institution operating outside of the United States knowingly conducts a significant transaction in connection with the Instrument in Support of Trade Exchanges, or any successor to such Instrument.
During the 2-year period beginning on the date of the enactment of this Act, the President may, for periods not to exceed 180 days, waive the application of subsection
(a)of this section with respect to a financial institution if the President certifies to the appropriate congressional committees that such a waiver is in the national security interests of the United States. In this section, the terms domestic financial institution , domestic financial agency , and financial institution have the meaning given those terms, respectively, under section 5312 of title 31, United States Code.