31 CFR § 566.309 - Foreign financial institution.

---
identifier: "/us/cfr/t31/s566.309"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 566.309 - Foreign financial institution."
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "566.309"
section_name: "Foreign financial institution."
chapter_name: "OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY"
part_number: "566"
part_name: "HIZBALLAH FINANCIAL SANCTIONS REGULATIONS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "3 U.S.C. 301; 31 U.S.C. 321(b); 50 U.S.C. 1601-1651, 1701-1706; Pub. L. 101-410, 104 Stat. 890, as amended (28 U.S.C. 2461 note); Pub. L. 114-102, 129 Stat. 2205 (50 U.S.C. 1701 note); Pub. L. 115-272, 132 Stat. 4144 (50 U.S.C. 1701 note)."
regulatory_source: "81 FR 22186, Apr. 15, 2016, unless otherwise noted."
cfr_part: "566"
---


# 566.309 Foreign financial institution.

(a) The term *foreign financial institution* means:

(1) A foreign bank;

(2) Any branch or office located outside the United States of a covered financial institution, as defined in § 566.303;

(3) Any other person organized under foreign law (other than a branch or office of such person in the United States) that, if it were located in the United States, would be a covered financial institution, as defined in § 566.303; and

(4) Any person organized under foreign law (other than a branch or office of such person in the United States) that is engaged in the business of, and is readily identifiable as, a dealer in foreign exchange or a money transmitter.

(b) For purposes of paragraph (a)(4) of this section, a person is not “engaged in the business” of a dealer in foreign exchange or a money transmitter if such transactions are merely incidental to the person's business.

[81 FR 22186, Apr. 15, 2016, as amended at 84 FR 35310, July 23, 2019]