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TITLE 31 - MONEY AND FINANCE: TREASURY
SUBTITLE B - REGULATIONS RELATING TO MONEY AND FINANCE
CHAPTER V - OFFICE OF FOREIGN ASSETS CONTROL, DEPARTMENT OF THE TREASURY
PART 590 - ANGOLA (UNITA) SANCTIONS REGULATIONS
subpart e - LICENSES, AUTHORIZATIONS, AND STATEMENTS OF LICENSING POLICY
590.508 - Investment and reinvestment of certain funds.
U.S. financial institutions are authorized to invest and reinvest assets blocked pursuant to 590.207(a), subject to the following conditions: (a) The assets representing such investments and reinvestments are credited to a blocked account or subaccount that is held in the same name at the same U.S. financial institution, or within the possession or control of a U.S. person, but in no case may funds be transferred outside the United States for this purpose; (b) The proceeds of such investments and reinvestments are not credited to a blocked account or subaccount under any name or designation that differs from the name or designation of the specific blocked account or subaccount in which such funds or securities were held; and (c) No immediate financial or economic benefit accrues (e.g., through pledging or other use) to any person whose property is blocked pursuant to 590.207(a).
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