[Federal Register: July 10, 2009 (Volume 74, Number 131)]
[Notices]
[Page 33316-33317]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr10jy09-95]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities: Submission for OMB
Review; Comment Request
AGENCY: Office of the Comptroller of the Currency, Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: 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. An agency may not conduct or sponsor, and a respondent is not
required to respond to, an information collection unless it displays a
currently valid OMB control number. The OCC is soliciting comment
concerning its information collection titled, ``Minimum Security
Devices and Procedures, Reports of Suspicious Activities, and Bank
Secrecy Act Compliance--12 CFR 21.'' The OCC also gives notice that it
has sent the information collection to the Office of Management and
Budget (OMB) for review.
DATES: Comments must be received by August 10, 2009.
ADDRESSES: Communications Division, Office of the Comptroller of the
Currency, Public Information Room, Mailstop 2-3, Attention: 1557-0180,
250 E Street, SW., Washington, DC 20219. In addition, comments may be
sent by fax to (202) 874-5274, or by electronic mail to
regs.comments@occ.treas.gov. You may personally inspect and photocopy
comments at the OCC, 250 E Street, SW., Washington, DC 20219. For
security reasons, the OCC requires that visitors make an appointment to
inspect comments. You may do so by calling (202) 874-4700. Upon
arrival, visitors will be required to present valid government-issued
photo identification and submit to security screening in order to
inspect and photocopy comments.
Additionally, you should send a copy of your comments to OCC Desk
Officer, 1557-0180, by mail to U.S. Office of Management and Budget,
725, 17th Street, NW., 10235, Washington, DC 20503, or by fax
to (202) 395-6974.
FOR FURTHER INFORMATION CONTACT: You can request additional information
or a copy of the collection from Mary H. Gottlieb, OCC Clearance
Officer, (202) 874-5090, Legislative and Regulatory Activities
Division, Office of the Comptroller of the Currency, 250 E Street, SW.,
Washington, DC 20219.
SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval
of the following information collection:
Title: Minimum Security Devices and Procedures, Reports of
Suspicious Activities, and Bank Secrecy Act Compliance--12 CFR 21.
OMB Control No.: 1557-0180.
SAR Form Nos.: 8010/8010-9.
Description: This submission covers an existing regulation and
involves no change to the regulation or to the information collection
requirements. The OCC requests only that OMB extend its approval of the
information collection.
Minimum Security Devices and Procedures (12 CFR 21.2 and 21.4)
Under Sec. Sec. 21.2 and 21.4, a national bank is required to
designate a security officer who must develop and administer a written
security program. The security officer shall report at least annually
to the bank's board of directors on the effectiveness of the security
program. The substance of the report shall be reflected in the Board's
minutes. These requirements ensure that the security officer is
responsible for the security program and that bank management and the
board of directors are aware of the content and effectiveness of the
program. These requirements ensure prudent bank management and bank
safety and soundness. The OCC uses the information to ensure that
national banks carefully review the effectiveness of their security
systems and comply with Federal law. The information collection ensures
that national banks conduct their activities in accordance with safe
and sound principles. A national bank's board of directors uses the
information to ensure that the bank's security system is adequate.
Suspicious Activity Report (SAR) (12 CFR 21.11)
In 1992, the Department of the Treasury was granted broad authority
to require suspicious transaction reporting under the Bank Secrecy Act.
See 31 U.S.C. 5318(g). FinCEN, which has been delegated authority to
administer the Bank Secrecy Act, joined with the bank regulators in
1996 in requiring, on a consolidated form (the SAR form), reports of
suspicious transactions. See 31 CFR 103.18(a). The filing of SARs is
necessary to prevent and detect crimes involving bank funds, bank
insiders, criminal transactions, and money laundering. These
requirements are necessary to ensure bank safety and soundness.
The Financial Crimes Enforcement Network (FinCEN) and Federal
financial institution supervisory agencies \1\ (bank regulators)
adopted the SAR in 1996 to simplify the process through which
depository institutions (banks) inform their regulators and law
enforcement about suspected criminal activity.
---------------------------------------------------------------------------
\1\ The five Federal financial institution supervisory agencies
are the Office of the Comptroller of the Currency (OCC), Board of
Governors of the Federal Reserve System (FRB), Federal Deposit
Insurance Corporation (FDIC), Office of Thrift Supervision (OTS),
and National Credit Union Administration (NCUA).
---------------------------------------------------------------------------
The SAR was updated in 1999, 2002, and 2006. The 2006 revisions to
the SAR form enhanced the clarity of the instructions to allow for
joint filing of SARs, and improved the usefulness of the SAR to law
enforcement. These revisions were originally scheduled to become
effective on June 30, 2007. On May 1, 2007, FinCEN issued a notice to
communicate a delay in the dates for using the revised SAR form, and
stated its intention to establish new effective dates in a future
notice consistent with its data quality initiatives.\2\ FinCEN has
[[Page 33317]]
not established new effective dates for using this revised SAR form.
---------------------------------------------------------------------------
\2\ 83 FR 23891 (May 1, 2007). This announcement did not affect
the BSA filing requirements, and financial institutions were to
continue to use the July 2003 form until further notice. (http://
www.fincen.gov/forms/files/f9022-47_sar-di.pdf).
---------------------------------------------------------------------------
Consistent with the 2006 revisions to the SAR form, FinCEN and the
bank regulators are once again proposing to adopt the revised 2006 SAR
form. This SAR form will not become effective until FinCEN establishes
new dates consistent with its data quality initiatives. The OCC uses
the SAR and the supporting documentation retained by national banks for
supervisory purposes. The information collection identifies suspicious
transactions that could pose a threat to national banks.
Banks are required to maintain a copy of any SAR filed and the
original or business record equivalent of any supporting documentation
for a period of five years. The documents are necessary for criminal
investigations and prosecutions.
Procedures for Monitoring Bank Secrecy Act Compliance (12 CFR 21.21)
Under 12 CFR 21.21, national banks are required to develop and
provide for the continued administration of a program reasonably
designed to assure and monitor their compliance with the Bank Secrecy
Act (BSA) and Treasury regulations at 12 CFR part 31. The compliance
program shall be reduced to writing, approved by the board of
directors, and noted in the minutes. These requirements are necessary
to ensure bank compliance with the BSA and 12 CFR part 31. National
banks use the compliance program to ensure compliance with the Bank
Secrecy Act. Bank examiners review the written procedures and board
approval in the examination process.
FinCEN and the Internal Revenue Detroit Computing Center (DCC)
operate the computer system containing the information collected from
banks. FinCEN and DCC provide on-line access to the information to
representatives of bank regulators and appropriate law enforcement
agencies.
Type of Review: Extension of a currently approved collection.
Affected Public: Individuals; Businesses or other for-profit.
Estimated Number of Respondents: 1,501.
Estimated Total Annual Responses: 337,421.
Frequency of Response: On occasion.
Estimated Total Annual Burden: 449,086.
OCC, FinCEN, FRB, FDIC, OTS, and NCUA issued a 60-day notice for
comment on April 1, 2009. 71 FR 14863. The notice covered the
information collection requirements contained in the SAR for all of the
agencies and the information collection requirements in OCC's part 21.
No comments were received by the OCC. FinCEN received three comments,
one of which was also received by the FDIC. A comment summary is
included in the information collection submitted to OMB.
The OCC invites continued comments 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 startup costs and costs of operation,
maintenance, and purchase of services to provide information.
Dated: July 6, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-16382 Filed 7-9-09; 8:45 am]
BILLING CODE 4810-33-P