Burmese banking institution definition

Burmese banking institution means any foreign bank, as that term is de- fined in § 1010.100(u), chartered or li- censed by Burma, including branches and offices located outside Burma.
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Burmese banking institution means any foreign bank, as that term is defined in § 1010.100(u), chartered or licensed by Burma, including branches and offices located outside Burma.
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Burmese banking institution means any foreign bank, as that term is defined in § 103.11(o), chartered or licensed by Burma, including branches and offices located outside Burma.
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Examples of Burmese banking institution in a sentence

  • GMI is prohibited from conducting business with the following entities (“Section 311 entities”): Banco Delta Asia; VEF Banka; Commercial Bank of Syria; Syrian Lebanese Commercial Bank; Myanmar Mayflower Bank; Asia Wealth Bank; Any Burmese banking institution, including foreign branches; and any subsidiaries of the above entities.

  • The rule prohibits certain U.S. financial institutions from establishing, maintaining, administering, or managing correspondent accounts in the United States for, or on behalf of, a Burmese banking institution.

  • Thus, the final rule prohibits covered financial institutions from establishing, maintaining, administering, or managing in the United States any correspondent or payable-through account for, or on behalf of, a Burmese banking institution.

  • CALL TO ORDERThe Board of Trustees of the MiraCosta Community College District met in a special meeting/closed session on Thursday, August 19, 2021, via Zoom conference.

  • Additionally, when a covered financial institution becomes aware that a foreign bank customer is using the U.S. correspondent account to provide services to a Burmese banking institution indirectly, the covered financial institution may afford that foreign bank customer a reasonable opportunity to take corrective action prior to terminating the U.S. correspondent account.

  • Under section 103.186(b)(2) of the final rule, if a covered financial institution obtains knowledge that a correspondent or payable-through account that it maintains for a foreign bank is being used by that foreign bank to provide services indirectly to a Burmese banking institution, the U.S. institution must ensure that the account no longer is used to provide such services, including, where necessary, terminating the correspondent relationship.

  • Instead, if covered financial institutions become aware, through due diligence that is otherwise appropriate or required under existing anti-money laundering obligations, that a foreign bank is using its correspondent account to provide banking services indirectly to a Burmese banking institution, then the covered financial institutions must ensure that the account is no longer used for such purposes.

  • The prohibition requires all covered financial institutions to review their account records to determine that they maintain no accounts directly for, or on behalf of, a Burmese banking institution.

  • This prohibition extends to any correspondent or payable-through account maintained in the United States for any foreign bank if the account is used by the foreign bank to provide banking services indirectly to a Burmese banking institution.

  • In contrast to the obligation placed on covered financial institutions to identify correspondent does not itself impose an independent obligation on covered financial institutions to review or investigate correspondent accounts they maintain for foreign banks to ascertain whether a foreign bank is using the account to provide services to a Burmese banking institution.


More Definitions of Burmese banking institution

Burmese banking institution means any foreign bank, as that term is de- fined in § 103.11(o), chartered or licensed by Burma, including branches and of- fices located outside Burma.(b) Requirements for covered financial institutions—(1) Prohibition on cor- respondent accounts. A covered financial institution shall terminate any cor- respondent account that is established, maintained, administered, or managed in the United States for, or on behalf of, a Burmese banking institution.(2) Prohibition on indirect cor- respondent accounts. (i) If a covered fi- nancial institution has or obtains knowledge that a correspondent ac- count established, maintained, admin- istered, or managed by that covered fi- nancial institution in the United States for a foreign bank is being used by the foreign bank to provide banking services indirectly to a Burmese bank- ing institution, the covered financial institution shall ensure that the cor- respondent account is no longer used to provide such services, including, where necessary, terminating the cor- respondent account; and(ii) A covered financial institutionrequired to terminate an account pur- suant to paragraph (b)(2)(i) of this sec- tion:
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Burmese banking institution means any foreign bank, as that term is defined in § 103.11(o), chartered or licensed by Burma, including branches and offices located outside Burma.(b) Requirements for covered financial institutions—(1) Prohibition on correspondent accounts. A covered financial institution shall terminate any correspondent account that isestablished, maintained, administered, or managed in the United States for, or on behalf of, a Burmese banking institution.(2) Prohibition on indirect correspondent accounts. (i) If a covered financial institution has or obtainsknowledge that a correspondent account established, maintained, administered,indirectly to a Burmese banking institution, the covered financial institution shall ensure that the correspondent account is no longer used to provide such services, including, where necessary, terminating the correspondent account; and(ii) A covered financial institutionrequired to terminate an account pursuant to paragraph (b)(2)(i) of this section:
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Related to Burmese banking institution

  • International banking institution means an international financial institution of which the United States is a member and whose securities are exempt from registration under the Securities Act of 1933.

  • banking institution means a bank, bank and trust company, trust company, savings bank, private bank, or a national banking association, organized and doing business under the provisions of any law of this state, or of any other state of the United States, or under the provisions of any law of the United States of America.

  • Zurich Banking Day means a day on which banks are open in the City of Zurich for the settlement of payments and of foreign exchange transactions.

  • Digital Banking (a) means our present and future online banking services which can be accessed through 365 Online, Business Online, Bank of Ireland Mobile Banking, and services available on www.bankofireland.com; and

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • Mobile Banking means the banking services accessible from the Device you have registered with us for Mobile Banking.

  • Local Banking Day means a day (other than a Saturday or Sunday) on which commercial banks are open for general business (including dealings in foreign exchange and foreign currency deposits) in the place of presentation of the relevant Covered Bond or, as the case may be, Coupon; and

  • New York Banking Day means any day except a Saturday, Sunday or a legal holiday in The City of New York or a day on which banking institutions in The City of New York are authorized or obligated by law, regulation or executive order to be closed.

  • Training Institution means the Grantee.

  • RFR Banking Day means any day specified as such in the Reference Rate Terms.

  • Telephone Banking means banking services available from time to time by telephone;

  • credit institution means a credit institution as defined in point (1) of Article 4(1) of Regulation (EU) No 575/2013;

  • Sending institution means the institution of higher education of most recent previous enrollment by a transfer student at which transferable academic credit was earned.

  • Online Banking is the internet-based service providing access to your Bank account(s);

  • Mobile Banking Service means the EB Services which we enable you to access via the Mobile Banking App or a web browser designed for use on a Mobile Device; and

  • International Financial Institution means any bank in the top 1,000 (together with their affiliated companies) as measured by "Tier 1" capital or any broker/dealer in the top 100 as measured by capital.

  • Relevant Banking Day means a day on which commercial banks are open for business (including dealings in foreign exchange and foreign currency deposits) in the place where the specified office of the Registrar is located and, in the case only of an exchange of a Bearer Note for a Registered Note where such request for exchange is made to the Principal Paying Agent, in the place where the specified office of the Principal Paying Agent is located;

  • Name of Institution Anchorage Capital CLO 8, Ltd., as a Rollover Lender By: Anchorage Capital Group, L.L.C., its Collateral Manager By: /s/ Xxxxxxx Xxxxxxxxx Name: Xxxxxxx Xxxxxxxxx Title: Authorized Signatory If a second signature is necessary: By: Name: Title: By executing a counterpart to this Agreement as a Rollover Lender, the undersigned institution agrees to have all of its outstanding Existing Term Loans converted into a like principal amount of New Term Loans effective as of the Amendment No. 4 Effective Date, in each case in accordance with the terms and conditions set forth herein and in the Credit Agreement. Each Rollover Lender that submits an executed counterpart to this Agreement acknowledges and agrees that in the absence of a change to the terms and conditions of this Agreement that is (x) materially adverse to the New Term Lenders, taken as a whole, in their capacity as such and (y) made after the submission of such executed counterpart, such submission is irrevocable. Name of Institution: Anchorage Capital CLO 9, Ltd., as a Rollover Lender By: Anchorage Capital Group, L.L.C., its Collateral Manager By: /s/ Xxxxxxx Xxxxxxxxx Name: Xxxxxxx Xxxxxxxxx Title: Authorized Signatory If a second signature is necessary: By: Name: Title: By executing a counterpart to this Agreement as a Rollover Lender, the undersigned institution agrees to have all of its outstanding Existing Term Loans converted into a like principal amount of New Term Loans effective as of the Amendment No. 4 Effective Date, in each case in accordance with the terms and conditions set forth herein and in the Credit Agreement. Each Rollover Lender that submits an executed counterpart to this Agreement acknowledges and agrees that in the absence of a change to the terms and conditions of this Agreement that is (x) materially adverse to the New Term Lenders, taken as a whole, in their capacity as such and (y) made after the submission of such executed counterpart, such submission is irrevocable.

  • Selling Institution The entity obligated to make payments to the Issuer under the terms of a Participation Interest.

  • L/C Bank means the Original L/C Bank and any other Lender which has been appointed as an L/C Bank in accordance with Clause 5.11 (Appointment and Change of L/C Bank) and which has not resigned in accordance with paragraph (c) of Clause 5.11 (Appointment and Change of L/C Bank).

  • London Banking Day means any day on which dealings in Dollar deposits are conducted by and between banks in the London interbank eurodollar market.

  • Seller’s Bank Account shall have the meaning set forth in Section 3.2(b).

  • Telephone Banking Service or “TBS” means any banking service operated over the telephone (by whatever name it may be known as) offered by the Bank, in connection with the Service Instructions and includes but is not limited to such services respectively known as Self Service Phone Banking and CitiPhone Banking; and

  • Internet Banking means the service we offer by which you can access and transact on a nominated account by using a personal computer and accessing via our website. This includes transactions processed through the mobile banking facility as well as the smartphone app facility.

  • Client Bank Account means an account held in the name of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor; and/or an account held in the name of the Company on behalf of the Client with a Bank and/or other institution and/or any electronic payment provider and/or a credit card processor.

  • Federal banking agency means the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the National Credit Union Administration and the Federal Deposit Insurance Corporation;