81 FR 66751 - Submission for OMB Review; Comment Request

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 188 (September 28, 2016)

[Federal Register Volume 81, Number 188 (Wednesday, September 28, 2016)]
[Notices]
[Page 66751]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-23436]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

September 23, 2016.
    The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before October 28, 2016 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8117, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submission may be 
obtained by emailing [email protected], calling (202) 622-1295, or 
viewing the entire information collection request at www.reginfo.gov.

Departmental Offices

    OMB Control Number: 1505-0255.
    Type of Review: Extension of a currently approved collection.
    Title: Hizballah Financial Sanctions Regulations.
    Abstract: The Department of the Treasury's Office of Foreign Assets 
Control (OFAC) added the Hizballah Financial Sanctions Regulations to 
31 CFR chapter V, in order to implement the Hizballah International 
Financing Prevention Act of 2015, Public Law 114-102 (HIFPA). The 
Regulations require a U.S. financial institution that maintained a 
correspondent account or a payable-through account for a foreign 
financial institution for which the maintaining of such an account has 
been prohibited to file a report with OFAC that provides full details 
on the closing of each such account within 30 days of the closure of 
the account. The report must include complete information on all 
transactions processed or executed in winding down and closing the 
account. This collection of information is required by OFAC to monitor 
compliance with regulatory requirements regarding the closure of 
correspondent accounts and payable-through accounts maintained by a 
U.S. financial institution for a foreign financial institution when the 
maintaining of such accounts for a foreign financial institution has 
been prohibited pursuant to the Regulations.
    Affected Public: Businesses or other for-profits: U.S. financial 
institutions operating correspondent or payable-through accounts for 
foreign financial institutions.
    Estimated Total Annual Burden Hours: 2.

Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-23436 Filed 9-27-16; 8:45 am]
 BILLING CODE 4810-25-P