GL 57
GL 57 — Financial Services with BCV and Named State Banks
Issued
Apr 14, 2026
Expiration
No expiration
Authorized entity
Banco Central de Venezuela y bancos estatales designados
Type
General
Regulation
31 CFR part 591 (VSR)
Executive orders
E.O. 13884
Signatory
Bradley T. Smith, Director, OFAC
Signed
Apr 14, 2026
Scope
Authorizes provision of U.S. financial services (accounts, payments, correspondent banking, cards, digital payments) with the Banco Central de Venezuela and four named state banks, subject to full AML/FinCEN compliance obligations.
Authorized parties
Authorized activities
- ·Cuentas corresponsales con BCV
- ·Procesamiento de pagos transfronterizos
- ·Servicios de tarjetas y digital payments
- ·Custodia y settlement
Prohibited activities
- ·Operaciones con bancos no nombrados sin autorización adicional
- ·Bypass de obligaciones FinCEN/AML
VENE · ECONOMIST Analysis
- Fact
- GL 57 (14 de abril de 2026) rompe 7 años de aislamiento del sistema financiero venezolano. BCV vuelve a ser contraparte legítima para correspondent banking estadounidense.
- Implication
- Re-conexión SWIFT efectiva del BCV. Remesas formales US→VE pueden multiplicarse 3-5x desde el canal informal. Bonos soberanos y PDVSA recuperan vehículo de pago para cualquier reestructuración futura. Bullish para Citibank, JPM, BNY (correspondent banking incumbents).
- Indicator to monitor
- Restauración de mensajes SWIFT BCV-tier-1. Volumen de remesas formales (datos BCV mensuales). Anuncios de correspondent banking agreements.
Official license textShow
General License No. 57 — Authorizing Financial Services Transactions Involving Certain Venezuelan Banks and Government of Venezuela Individuals
(a) Except as provided in paragraph (c) of this general license, all transactions prohibited by the Venezuela Sanctions Regulations, 31 CFR part 591 (VSR), that are ordinarily incident and necessary to the provision, exportation, or reexportation, directly or indirectly, of financial services to, from, or for the benefit of the following persons are authorized:
- Banco Central de Venezuela;
- Banco de Venezuela, S.A. Banco Universal (Banco de Venezuela);
- Banco Digital de los Trabajadores Banco Universal C.A.;
- Banco del Tesoro, C.A. Banco Universal (Banco del Tesoro);
- Any entity in which one or more of the above persons own, directly or indirectly, individually or in the aggregate, a 50 percent or greater interest; or
- Any individual whose property and interests in property are blocked solely pursuant to Executive Order (E.O.) 13884 because that individual meets the definition of "Government of Venezuela," as defined in E.O. 13884, including current employees of the "Government of Venezuela," excluding any individual identified on OFAC's List of Specially Designated Nationals and Blocked Persons.
(b) Except as provided in paragraph (c), all transactions involving the Government of Venezuela that would otherwise be prohibited by E.O. 13884 and that are necessary for the activities set forth in paragraph (a) are authorized.
(c) This general license does not authorize:
- The unblocking of any property blocked pursuant to any part of 31 CFR chapter V; or
- Any transactions otherwise prohibited by the VSR, unless separately authorized.
Note 1. "Financial services" includes maintaining, operating, or closing accounts; loans; transfers; banking services; money transfer services; collection; the acceptance of deposits; insurance; guarantees; cash withdrawals; check services; ACH transfers; wire transfers; debit/prepaid/ATM card transactions; issuance and use of payment cards and digital wallets; currency exchange; U.S. dollar-denominated banking, payment, and correspondent account services; processing of salary, pension, annuity, payroll and other employment payments; transfers via mobile money, digital wallets and online payments; related fraud-prevention, screening, authentication and cybersecurity services; investments; securities; and commodity futures or options.
Note 2. U.S. financial institutions may rely on the originator or beneficiary of a funds transfer regarding compliance, provided they do not know or have reason to know that the transaction is not in compliance.
Note 3. Nothing in this general license relieves any person from compliance with other U.S. laws, including the Bank Secrecy Act, the USA PATRIOT Act, and FinCEN regulations.
Bradley T. Smith — Director, Office of Foreign Assets Control. Dated: April 14, 2026.
Official source
This summary does not constitute legal advice. The final determination of scope and applicability of any OFAC license requires consultation with qualified legal counsel and review of the official text published by the Office of Foreign Assets Control. VENE · ECONOMIST maintains this page as editorial reference for institutional investors.
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