NEGOTIABLE INSTRUMENTS DRAWN ON FOREIGN BANKS SUBJECT TO RECORDKEEPING AND REPORTING REQUIREMENTS.

SEC. 405. NEGOTIABLE INSTRUMENTS DRAWN ON FOREIGN BANKS SUBJECT TO RECORDKEEPING AND REPORTING REQUIREMENTS. Section 5312(a)(3) of title 31, United States Code, is amended— (1) by striking “and” at the end of subparagraph (A); (2) by striking the period at the end of subparagraph (B) and inserting “; and”; and (3) by adding at the end the following new subparagraph: “(C) as the Secretary of the Treasury shall provide by regulation for purposes of section 5316, checks, drafts, notes, money orders, and other similar instruments which are drawn on or by a foreign financial institution and are not in bearer form.”.