The Pirates acquired Banuelos from the Yankees on Sunday in exchange for cash considerations.
Banuelos has no minor-league options remaining, so he'll remain in the limbo for the time being until the Pirates are able to open up a spot on the 26-man active roster for him. The 31-year-old lefty was dropped from the Yankees' 40-man roster even though he acquitted himself well over 8.1 innings out of the bullpen, giving up two earned runs on seven hits and three walks while striking out eight.