Notice2022-23169
Agency Information Collection Activities; Proposed Collection; Comment Request for Hizballah Financial Sanctions Regulations Report on Closure by U.S. Financial Institutions of Correspondent Accounts and Payable-Through Accounts
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
October 25, 2022
Issuing agencies
Treasury DepartmentForeign Assets Control Office
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 Office of Foreign Assets Control (OFAC) within the Department of the Treasury is soliciting comments concerning OFAC's Hizballah 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 205 (Tuesday, October 25, 2022)</title>
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[Federal Register Volume 87, Number 205 (Tuesday, October 25, 2022)]
[Notices]
[Pages 64546-64547]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-23169]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
[Docket No.: OFAC-2022-0005]
Agency Information Collection Activities; Proposed Collection;
Comment Request for Hizballah Financial Sanctions Regulations Report on
Closure by U.S. Financial Institutions of Correspondent Accounts and
Payable-Through Accounts
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice and request for comments.
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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 Office of Foreign Assets Control (OFAC) within the
Department of the Treasury is soliciting comments concerning OFAC's
Hizballah Financial Sanctions Regulations Report on Closure by U.S.
Financial Institutions of Correspondent Accounts and Payable-Through
Accounts.
DATES: Written comments must be submitted on or before December 27,
2022 to be assured of consideration.
ADDRESSES: You may submit comments by either of the following methods:
Federal eRulemaking Portal: <a href="http://www.regulations.gov">www.regulations.gov</a>. Follow the
instructions on the website for submitting comments.
Email: <a href="/cdn-cgi/l/email-protection#88c7cec9cbdaedf8e7fafcc8fcfaede9fbfdfaf1a6efe7fe"><span class="__cf_email__" data-cfemail="19565f585a4b7c69766b6d596d6b7c786a6c6b60377e766f">[email protected]</span></a> with Attn: Request for Comments
(Hizballah Financial Sanctions Regulations Report on Closure by U.S.
Financial Institutions of Correspondent Accounts and Payable-Through
Accounts).
Instructions: All submissions received must include the agency name
and refer to Docket Number OFAC-2022-0005 and the Office of Management
and Budget (OMB) control number 1505-0255. Comments received will be
made available to the public via <a href="https://www.regulations.gov">https://www.regulations.gov</a> or upon
request, without change and including any personal information
provided.
FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs,
202-622-4855; or Assistant Director for Sanctions Compliance &
Evaluation, 202-622-2490.
SUPPLEMENTARY INFORMATION:
Title: Hizballah Financial Sanctions Regulations Report on Closure
by U.S. Financial Institutions of Correspondent Accounts and Payable-
Through Accounts.
OMB Number: 1505-0255.
Type of Review: Extension without change of a currently approved
collection.
Description: Section 566.504(b) of the Hizballah Financial
Sanctions Regulations, 31 CFR part 566 (HFSR) provides 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.treasury.gov/ofac">www.treasury.gov/ofac</a>) as subject to a
prohibition on the maintaining of such accounts, must file a report
with OFAC that provides full details on the closing of each such
account, and on all transactions processed or executed through the
account pursuant to Sec. 566.504, 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 31 CFR part
566. 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
[[Page 64547]]
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.
Request for Comments
Comments submitted in response to this notice will be summarized
and included in the request for OMB approval. All comments will become
a matter of public record. Comments are invited on: (a) whether the
collection of information is necessary for the proper performance of
the functions of the agency, including whether the information has
practical utility; (b) the accuracy of the agency's estimate of the
burden of the collection of information; (c) ways to enhance the
quality, utility, and clarity of the information to be collected; (d)
ways to minimize the burden of the collection of information on
respondents, including through the use of automated collection
techniques or other forms of information technology; and (e) estimates
of capital or start-up costs and costs of operation, maintenance, and
purchase of services to provide information.
Authority: 44 U.S.C. 3501 et seq.
Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-23169 Filed 10-24-22; 8:45 am]
BILLING CODE 4810-AL-P
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