2019-09614. Agency Information Collection Activities; Information Collection Renewal; Comment Request; Bank Secrecy Act/Money Laundering Risk Assessment  

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    Office of the Comptroller of the Currency (OCC), Treasury.


    Notice and request for comment.


    The OCC, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other federal agencies to take this opportunity to comment on a continuing information collection, as required by the Paperwork Reduction Act of 1995.

    In accordance with the requirements of the Paperwork Reduction Act of 1995 (PRA), the OCC may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number.

    The OCC is soliciting comment concerning its information collection entitled, “Bank Secrecy Act/Money Laundering Risk Assessment,” also known as the Money Laundering Risk (MLR) System. DATES: Comments must be submitted by July 9, 2019.


    Commenters are encouraged to submit comments by email, if possible. You may submit comments by any of the following methods:

    • Email: prainfo@occ.treas.gov.
    • Mail: Chief Counsel's Office, Attention: Comment Processing, OMB Control No. 1557-0231, Office of the Comptroller of the Currency, 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    • Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218, Washington, DC 20219.
    • Fax: (571) 465-4326.

    Instructions: You must include “OCC” as the agency name and “1557-0231” in your comment. In general, the OCC publishes comments on www.reginfo.gov without change, including any business or personal information provided, such as name and address information, email addresses, or phone numbers. Comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure.

    You may review comments and other related materials that pertain to this information collection beginning on the date of publication of the second notice for this collection [1] by any of the following methods:

    • Viewing Comments Electronically: Go to www.reginfo.gov. Click on the “Information Collection Review” tab. Underneath the “Currently under Review” section heading, from the drop-down menu, select “Department of Treasury” and then click “submit.” This information collection can be located by searching by OMB control number “1557-0231” or “Bank Secrecy Act/Money Laundering Risk Assessment.” Upon finding the appropriate information collection, click on the related “ICR Reference Number.” On the next screen, select “View Supporting Statement and Other Documents” and then click on the link to any comment listed at the bottom of the screen.
    • For assistance in navigating www.reginfo.gov, please contact the Regulatory Information Service Center at (202) 482-7340.
    • Viewing Comments Personally: You may personally inspect comments at the OCC, 400 7th Street SW, Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649-6700 or, for persons who are deaf or hearing impaired, TTY, (202) 649-5597. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect comments.
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    Shaquita Merritt, OCC Clearance Officer, (202) 874-5090, or for persons who are deaf or hearing impaired, TTY, (202) 649-5597, Chief Counsel's Office, Office of the Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.

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    Under the PRA, federal agencies must obtain approval from the OMB for each collection of information they conduct or sponsor. “Collection of information” is defined in 44 U.S.C. 3502(3) and 5 CFR 1320.3(c) to include questions posed to agencies, instrumentalities, or employees of the United States, if the results are to be used for general statistical purposes, that is, if the results are to be used for statistical compilations of general public interest, including compilations showing the status or implementation of federal activities and programs. Section 3506(c)(2)(A) of the PRA requires federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension or revision of an existing collection of information, before submitting the collection to OMB for approval. In compliance with the PRA, the OCC is publishing notice of the proposed extension with revision of the collection of information set forth in this document.

    Title: Bank Secrecy Act/Money Laundering Risk Assessment.

    OMB Control No: 1557-0231.

    Type of Review: Regular.

    Affected Public: Business or other for-profit.

    Description: The MLR System enhances the ability of examiners and bank management to identify and evaluate Bank Secrecy Act/Money Laundering and Office of Foreign Asset Control (OFAC) sanctions risks associated with banks' products, services, customers, and locations. As new products and services are introduced, existing products and services change, and banks expand through mergers and acquisitions, banks' evaluation of money laundering and terrorist financing risks should evolve as well. Consequently, the MLR risk assessment is an important tool for the OCC's Bank Secrecy Act/Anti-Money Laundering and OFAC supervision activities because it allows the agency to better identify those institutions, and areas within institutions, that pose heightened risk and allocate examination resources accordingly. This risk assessment is critical in protecting U.S. financial institutions of all sizes from potential abuse from money laundering and terrorist financing. An appropriate risk assessment allows applicable control to be effectively implemented for the lines of business, products, or entities that Start Printed Page 20702would elevate Bank Secrecy Act/Money Laundering and OFAC compliance risks.

    We will collect MLR information for community banks supervised by the OCC.

    The format of OCC's annual Risk Summary Form (RSF) is fully automated, making data entry quick and efficient and providing an electronic record for all parties.

    The OCC estimates the burden of this collection of information as follows:

    Burden Estimates:

    Community bank population:

    Estimated Number of Respondents: 1,088.

    Estimated Number of Responses: 1,088.

    Frequency of Response: Annually.

    Estimated Annual Burden: 6,528 hours.

    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 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.

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    Dated: May 6, 2019.

    Theodore J. Dowd,

    Deputy Chief Counsel, Office of the Comptroller of the Currency.

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    1.  Following the close of the 60-day comment period for this notice, the OCC will publish a notice for 30 days of comment for this collection.

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    [FR Doc. 2019-09614 Filed 5-9-19; 8:45 am]


Document Information

Treasury Department
Comptroller of the Currency
Notice and request for comment.
Document Number:
Comments must be submitted by July 9, 2019.
20701-20702 (2 pages)
PDF File: