Notice2025-05648
Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB
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
April 2, 2025
Issuing agencies
Federal Reserve System
Abstract
The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Requirements of Regulation H and Regulation K Associated with the Procedures for Monitoring Bank Secrecy Act Compliance (FR K; OMB No. 7100-0310).
Full Text
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<title>Federal Register, Volume 90 Issue 62 (Wednesday, April 2, 2025)</title>
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[Federal Register Volume 90, Number 62 (Wednesday, April 2, 2025)]
[Notices]
[Page 14441]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-05648]
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FEDERAL RESERVE SYSTEM
Agency Information Collection Activities: Announcement of Board
Approval Under Delegated Authority and Submission to OMB
AGENCY: Board of Governors of the Federal Reserve System.
SUMMARY: The Board of Governors of the Federal Reserve System (Board)
is adopting a proposal to extend for three years, without revision, the
Recordkeeping Requirements of Regulation H and Regulation K Associated
with the Procedures for Monitoring Bank Secrecy Act Compliance (FR K;
OMB No. 7100-0310).
FOR FURTHER INFORMATION CONTACT: Federal Reserve Board Clearance
Officer--Nuha Elmaghrabi--Office of the Chief Data Officer, Board of
Governors of the Federal Reserve System, <a href="/cdn-cgi/l/email-protection#6a041f020b440f06070b0d02180b08032a0c1808440d051c"><span class="__cf_email__" data-cfemail="6c0219040d420900010d0b041e0d0e052c0a1e0e420b031a">[email protected]</span></a>, (202)
452-3884.
Office of Management and Budget (OMB) Desk Officer for the Federal
Reserve Board, Office of Information and Regulatory Affairs, Office of
Management and Budget, New Executive Office Building, Room 10235, 725
17th Street NW, Washington, DC 20503, or by fax to (202) 395-6974.
SUPPLEMENTARY INFORMATION: On June 15, 1984, OMB delegated to the Board
authority under the Paperwork Reduction Act (PRA) to approve and assign
OMB control numbers to collections of information conducted or
sponsored by the Board. Board-approved collections of information are
incorporated into the official OMB inventory of currently approved
collections of information. The OMB inventory, as well as copies of the
PRA Submission, supporting statements (which contain more detailed
information about the information collections and burden estimates than
this notice), and approved collection of information instrument(s) are
available at <a href="https://www.reginfo.gov/public/do/PRAMain">https://www.reginfo.gov/public/do/PRAMain</a>. These documents
are also available on the Federal Reserve Board's public website at
<a href="https://www.federalreserve.gov/apps/reportingforms/review">https://www.federalreserve.gov/apps/reportingforms/review</a> or may be
requested from the agency clearance officer, whose name appears above.
On the page displayed at the link above, you can find the supporting
information by referencing the collection identifier, FR K.
Final Approval Under OMB Delegated Authority of the Extension for Three
Years, Without Revision, of the Following Information Collection
Collection title: Recordkeeping Requirements of Regulation H and
Regulation K Associated with the Procedures for Monitoring Bank Secrecy
Act Compliance.
Collection identifier: FR K.
OMB control number: 7100-0310.
General description of collection: Section 208.63 of the Board's
Regulation H--Membership of State Banking Institutions in the Federal
Reserve System (12 CFR part 208) requires state member banks to
establish and maintain in writing procedures reasonably designed to
ensure and monitor compliance with the provisions of the Bank Secrecy
Act (BSA) and its implementing regulations. Sections 211.5(m)(1) and
211.24(j)(1) of the Board's Regulation K--International Banking
Operations (12 CFR part 211) impose those same requirements on Edge and
agreement corporations and, except for a federal branch or a federal
agency or a state branch that is insured by the Federal Deposit
Insurance Corporation (FDIC), the U.S. branches, agencies, and
representative offices of foreign banks operating in the United States.
Frequency: One-time and on occasion.
Respondents: State member banks; Edge and agreement corporations;
and U.S. branches, agencies, and representative offices of foreign
banks operating in the United States, except for a federal branch or a
federal agency or a state branch that is insured by the FDIC.
Total estimated number of respondents: 878.
Total estimated annual burden hours: 3,544.
Current actions: On October 29, 2024, the Board published a notice
in the Federal Register (89 FR 85973) requesting public comment for 60
days on the extension, without revision, of the FR K. The comment
period for this notice expired on December 30, 2024. The Board did not
receive any comments.
Board of Governors of the Federal Reserve System, March 28,
2025.
Benjamin W. McDonough,
Deputy Secretary and Ombuds of the Board.
[FR Doc. 2025-05648 Filed 4-1-25; 8:45 am]
BILLING CODE 6210-01-P
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