US Code

Public Law 119-83 (04/13/2026)

22 U.S.C. § 9221a

Prohibition on indirect correspondent accounts

(a)

In general

section 9214 of this titleExcept as provided in subsection (b), if a United States financial institution has or obtains knowledge that a correspondent account established, maintained, administered, or managed by that institution for a foreign financial institution is being used by the foreign financial institution to provide significant financial services indirectly to any person, foreign government, or financial institution designated under , the United States financial institution shall ensure that such correspondent account is no longer used to provide such services.

(b)

Exception

section 9214 of this titleA United States financial institution is authorized to process transfers of funds to or from North Korea, or for the direct or indirect benefit of any person, foreign government, or financial institution that is designated under , only if the transfer—
(1)
arises from, and is ordinarily incident and necessary to give effect to, an underlying transaction that has been authorized by a specific or general license issued by the Secretary of the Treasury; and
(2)
does not involve debiting or crediting a North Korean account.
(c)

Definitions

In this section:
(1)

Correspondent account

section 5318A of title 31The term “correspondent account” has the meaning given that term in .

(2)

United States financial institution

1

1 So in original.
The term “United States financial institution” means  has the meaning given that term in section 510.310 of title 31, Code of Federal Regulations, as in effect on .

(3)

Foreign financial institution

The term “foreign financial institution” has the meaning given that term in section 1010.605 of title 31, Code of Federal Regulations, as in effect on .

Pub. L. 114–122, title II, § 201APub. L. 115–44, title III, § 312(a)131 Stat. 945 (, as added , , .)