Notice2023-01757
Agency Information Collection Activities; Submission for OMB Review; Comment Request; 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
January 30, 2023
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 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 88 Issue 19 (Monday, January 30, 2023)</title>
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[Federal Register Volume 88, Number 19 (Monday, January 30, 2023)]
[Notices]
[Pages 5963-5964]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-01757]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Hizballah Financial Sanctions Regulations
Report on Closure by U.S. Financial Institutions of Correspondent
Accounts and Payable-Through Accounts
AGENCY: Departmental Offices, U.S. 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 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: Comments should be received on or before March 1, 2023 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. Copies of
the submissions may be obtained from Melody Braswell by emailing
<a href="/cdn-cgi/l/email-protection#0757554647737562667472757e29606871"><span class="__cf_email__" data-cfemail="fbaba9babb8f899e9a888e8982d59c948d">[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>.
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:
Office of Foreign Assets Control (OFAC)
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 number of unique reporting respondents is approximately 1.
Frequency of Response: The estimated annual frequency of responses
is approximately 1 response per respondent.
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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. 2023-01757 Filed 1-27-23; 8:45 am]
BILLING CODE 4810-AL-P
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</html>Indexed from Federal Register on January 30, 2023.
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