Code of Federal Regulations · Section
§ 535.566 — Unblocking Of Foreign Currency Deposits Held By U.s.-owned Or Controlled Foreign Firms
31 C.F.R. § 535.566
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Deposits held abroad in currencies other than U.S. dollars by branches and subsidiaries of persons subject to the jurisdiction of the United States are unblocked, provided however that conversions of blocked dollar deposits into foreign currencies are not authorized.
Authorizing Statute
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General authority of the Secretary31 U.S.C. § 321
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Financial transactions18 U.S.C. § 2332d
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Mode of recovery28 U.S.C. § 2461