Offshore Banking License Law and Legal Definition
According to 31 CFR 103.175 [Title 31 -- Money And Finance: Treasury; Subtitle B -- Regulations Relating to Money and Finance; Chapter I -- Monetary Offices, Department of the Treasury; Part 103 -- Financial Recordkeeping and Reporting of Currency and Foreign Transactions; Subpart I -- Anti-Money Laundering Programs; Special Due Diligence for Correspondent Accounts and Private Banking Accounts], offshore banking license means “a license to conduct banking activities that prohibits the licensed entity from conducting banking activities with the citizens of, or in the local currency of, the jurisdiction that issued the license.”
Legal Definition list
Related Legal Terms
- Abstraction [Banking]
- Accommodation Maker(Banking)
- Account [Banks & Banking]
- Acting in Concert [Banks & Banking]
- Affiliate [Banks & Banking]
- Alternative Mortgage Transaction [Banks & Banking]
- Application for a Deposit Facility [Banks & Banking]
- Appropriate Federal Banking Agency
- Appropriate Federal Financial Supervisory Agency [Banks & Banking]
- Appropriate Financial Regulator [Banks & Banking]
