§ 510.303. Correspondent account.
45 words·~1 min read·
/us/cfr/t31/s§ 510.303·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The term correspondent account means an account established by a U.S. financial institution for a foreign financial institution to receive deposits from, or to make payments on behalf of, the foreign financial institution, or to handle other financial transactions related to such foreign financial institution.