What happens to the correspondent and payable-through accounts held by Bank of Kunlun in the United States?
OFAC's answer
Context Information: This FAQ is associated with the [Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010 (CISADA)](https://ofac.treasury.gov/faqs/search?search_api_fulltext=&fulltext_phrase_search=This+FAQ+is+associated+with+the+Comprehensive+Iran+Sanctions%2C+Accountability%2C+and+Divestment+Act+of+2010+%28CISADA%29). To our knowledge, Bank of Kunlun does not currently hold [correspondent](https://www.ecfr.gov/cgi-bin/text-idx?SID=f001609e54e2c4adcbab5dafe63ba4a7&mc=true&node=se31.3.561_1306&rgn=div8)accounts with U.S. financial institutions. The July 31, 2012 action prohibits financial institutions in the United States from opening or maintaining correspondent or [payable-through](https://www.ecfr.gov/cgi-bin/text-idx?SID=f001609e54e2c4adcbab5dafe63ba4a7&mc=true&node=se31.3.561_1307&rgn=div8) accounts for Bank of Kunlun.