The Office of Foreign Assets Control (OFAC) has issued a new general licence under the Foreign Narcotics Kingpin Sanctions Regulations, 31 C.F.R. part 598, authorising certain transaction relating to the wind-down of the Honduran bank, Banco Continental, S.A. The bank was added to OFAC’s list of Specially Designated Nationals and Blocked Persons in October 2015 in connection with suspected support for international narcotics trafficking activities. Under the new general licence, General License No. 1C, OFAC has authorised (until 14 June 2017) transactions by US persons for the liquidation and wind-down of the bank, including transactions and activities related to the preparation and submission of bids to acquire the bank’s assets. US persons using the general licence are required to file summary reports with OFAC within 10 business days after the conclusion of the authorised liquidation and wind-down activities.