UCC Article 5: Uniform Commercial Code Article 5 specifically governs Letters of Credit in the United States, providing the primary domestic legal framework for LC transactions
UCP 600: International Chamber of Commerce Uniform Customs and Practice for Documentary Credits - the international standard rules for documentary credits and letters of credit
Federal Reserve Regulations: Federal banking regulations that govern financial institutions' operations and their letter of credit activities
OCC Regulations: Office of the Comptroller of the Currency regulations governing national banks' letter of credit operations and risk management
FDIC Rules: Federal Deposit Insurance Corporation rules affecting banks' letter of credit operations and related financial transactions
Bank Secrecy Act: Requires financial institutions to assist government agencies in detecting and preventing money laundering in LC transactions
USA PATRIOT Act: Anti-terrorism legislation that impacts international financial transactions including letters of credit
ISP98: International Standby Practices - rules governing standby letters of credit
WTO Agreements: World Trade Organization agreements affecting international trade and related financial instruments
AML Regulations: Anti-Money Laundering regulations requiring due diligence and monitoring of LC transactions
KYC Requirements: Know Your Customer requirements for verifying the identity of parties involved in LC transactions
OFAC Sanctions: Office of Foreign Assets Control sanctions affecting international financial transactions and restricted parties
EAR: Export Administration Regulations controlling the export of certain goods and related financial transactions
State Banking Regulations: State-specific banking laws and regulations affecting letter of credit operations within individual states
Dodd-Frank Act: Wall Street Reform and Consumer Protection Act provisions affecting financial institutions and their services
E-SIGN Act: Electronic Signatures in Global and National Commerce Act governing electronic documentation in financial transactions
FCPA: Foreign Corrupt Practices Act preventing bribery of foreign officials in international business transactions
