BAFT, ABA’s global transaction banking subsidiary, and The Clearing House have published a guidance paper to help banks comply with sanctions requirements for transactions related to the shipment of goods. The paper addresses issues arising from sanctions regulations administered from the Office of Foreign Assets Control prohibiting direct transactions with sanctioned parties and direct and indirect export and re-exports to sanctioned territories.
ABA DataBank: Planned/announced office conversions spike
With low housing supply continuing to be a concern, planned conversions of office commercial real estate into residential units are starting to pick up.