### Question
How is the "interest-bearing account" defined?


### Answer
The term **interest-bearing account** is defined in *31 CFR § 500.205* as follows -

> a blocked account earning interest at no less than the maximum rate payable on the shortest time deposit in the domestic bank where the account is held, provided however, that such an account may include six-month Treasury bills or insured certificates, with a maturity not exceeding six-months, appropriate to the amounts involved

#### Citation:
  - *31 CFR § 500.205*
  - Heading: **Subpart B—Prohibitions**

