The bank asked the court to bar the New York Fed from terminating its master account, without which it said it "cannot effectively function as a depository institution."
A spokesperson for the New York Fed declined to comment.
Federal prosecutors dismissed a civil forfeiture complaint and returned $53 million in seized funds to the bank.
The New York Fed in 2019 said it would stop approving master accounts for some Puerto Rican banks due to U.S. sanctions on Venezuela aimed at ousting socialist President Nicolas Maduro, Reuters reported at the time.
The bank said its founder, Marcelino Bellosta, has lived in the United States and Europe for much of the last 25 years.
Persons:
BSJI, Nicolas Maduro, Marcelino Bellosta, Luc Cohen, Grant McCool
Organizations:
Banco San Juan, Inc, New York Federal, Banco, Banco San Juan Internacional, New York, New York Fed, Reuters, Thomson
Locations:
Puerto Rican, U.S, Venezuela, Banco San, Manhattan, York, Puerto, Venezuelan, United States, Europe, New York