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Title 31: Money and Finance: Treasury
Subtitle B: Regulations Relating to Money and Finance (Continued)
CHAPTER V: OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
PART 500: FOREIGN ASSETS CONTROL REGULATIONS
Subpart E: Licenses, Authorizations and Statements of Licensing Policy
500.509 - Entries in certain accounts for normal service charges.
(a) Any banking institution within the United States is hereby authorized to:
(1) Debit any blocked account with such banking institution (or with another office within the United States of such banking institution) in payment or reimbursement for normal service charges owed to such banking institution by the owner of such blocked account.
(2) Make book entries against any foreign currency account maintained by it with a banking institution in any designated foreign country for the purpose of responding to debits to such account for normal service charges in connection therewith.
(b) As used in this section, the term normal service charge shall include charges in payment or reimbursement for interest due; cable, telegraph, or telephone charges; postage costs; custody fees; small adjustment charges to correct bookkeeping errors; and, but not by way of limitation, minimum balance charges, account carrying charges, notary and protest fees, and charges for reference books, photostats, credit reports, transcripts of statements, registered mail insurance, stationery and supplies, check books, and other similar items.
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