Notice2022-20768
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Office of Foreign Assets Control Information Collection Requests
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 26, 2022
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to comment on proposed or continuing information collections, as required by the Paperwork Reduction Act of 1995. Currently, the Department of the Treasury's Office of Foreign Assets Control is soliciting comments concerning OFAC's Iranian Financial Sanctions Regulations Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts.
Full Text
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<title>Federal Register, Volume 87 Issue 185 (Monday, September 26, 2022)</title>
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[Federal Register Volume 87, Number 185 (Monday, September 26, 2022)]
[Notices]
[Pages 58435-58436]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-20768]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Office of Foreign Assets Control Information
Collection Requests
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other federal agencies to comment on proposed or continuing
information collections, as required by the Paperwork Reduction Act of
1995. Currently, the Department of the Treasury's Office of Foreign
Assets Control is soliciting comments concerning OFAC's Iranian
Financial
[[Page 58436]]
Sanctions Regulations Report on Closure by U.S. Financial Institutions
of Correspondent Accounts and Payable-Through Accounts.
DATES: Comments should be received on or before October 26, 2022 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Melody Braswell by emailing <a href="/cdn-cgi/l/email-protection#5a0a081b1a2e283f3b292f2823743d352c"><span class="__cf_email__" data-cfemail="68383a29281c1a0d091b1d1a11460f071e">[email protected]</span></a>, calling
(202) 622-1035, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Office of Foreign Assets Control (OFAC)
Title: Iranian Financial Sanctions Regulations Report on Closure by
U.S. Financial Institutions of Correspondent Accounts and Payable-
Through Accounts.
OMB Number: 1505-0243.
Type of Review: Extension without change of a currently approved
collection.
Description: Section 561.504(b) of the Iranian Financial Sanctions
Regulations, 31 CFR part 561 (IFSR), specifies that a U.S. financial
institution that maintained a correspondent account or payable-through
account for a foreign financial institution whose name is added to the
List of Foreign Financial Institutions Subject to Correspondent Account
or Payable-Through Account Sanctions (the ``CAPTA List'') on OFAC's
website (<a href="http://www.treas.gov/ofac">www.treas.gov/ofac</a>) as subject to a prohibition on the
maintaining of such accounts, must file a report with OFAC that
provides complete information on the closing of each such account, and
on all transactions processed or executed through the account pursuant
to Sec. 561.504, including the account outside of the United States to
which funds remaining in the account were transferred. This report must
be filed with OFAC within 30 days of closure of the account. This
collection of information assists in verifying that U.S. financial
institutions are complying with prohibitions on maintaining
correspondent accounts or payable-through accounts for foreign
financial institutions listed on the CAPTA List pursuant to the IFSR.
The reports will be reviewed by OFAC and may be used for compliance and
enforcement purposes by the agency.
Affected Public: The likely respondents affected by this collection
of information are U.S. financial institutions maintaining
correspondent accounts or payable-through accounts for foreign
financial institutions.
Estimated Number of Respondents: OFAC assesses that the estimate
for the number of unique reporting respondents is approximately 1.
Frequency of Response: The estimated annual frequency of responses
is approximately 1 response per respondent.
Estimated Total Number of Annual Responses: The estimated total
number of responses per year is approximately 1.
Estimated Time per Response: OFAC assesses that there is an average
time estimate of 2 hours per response.
Estimated Total Annual Burden Hours: The estimated total annual
reporting burden is approximately 2 hours.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-20768 Filed 9-23-22; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on September 26, 2022.
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