83 FR 42121 - Agency Information Collection Activities: Announcement of Board Approval Under Delegated Authority and Submission to OMB

FEDERAL RESERVE SYSTEM

Federal Register Volume 83, Issue 161 (August 20, 2018)

The Board of Governors of the Federal Reserve System (Board) is adopting a proposal to extend for three years, without revision, the Recordkeeping Requirements Associated with Regulation GG (Prohibition on Funding of Unlawful internet Gambling) (FR 4026; OMB No. 7100-0317).

[Federal Register Volume 83, Number 161 (Monday, August 20, 2018)]
[Notices]
[Pages 42121-42122]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-17875]


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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 Associated with Regulation GG (Prohibition 
on Funding of Unlawful internet Gambling) (FR 4026; OMB No. 7100-0317).

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, Washington, DC 20551 (202) 
452-3829. Telecommunications Device for the Deaf (TDD) users may 
contact (202) 263-4869, Board of Governors of the Federal Reserve 
System, Washington, DC 20551.
    OMB Desk Officer--Shagufta Ahmed--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, the Office of Management 
and Budget (OMB) delegated to the Board authority under the Paperwork 
Reduction Act (PRA) to approve and assign OMB control numbers to 
collection of information requests and requirements conducted or 
sponsored by the Board. Board-approved

[[Page 42122]]

collections of information are incorporated into the official OMB 
inventory of currently approved collections of information. Copies of 
the Paperwork Reduction Act Submission, supporting statements and 
approved collection of information instrument(s) are placed into OMB's 
public docket files. The Board may not conduct or sponsor, and the 
respondent is not required to respond to, an information collection 
that has been extended, revised, or implemented on or after October 1, 
1995, unless it displays a currently valid OMB control number.
    Final approval under OMB delegated authority of the extension for 
three years, without revision of the following report:
    Report title: Recordkeeping Requirements Associated with Regulation 
GG (Prohibition on Funding of Unlawful Internet Gambling).
    Agency form number: FR 4026.
    OMB control number: 7100-0317.
    Frequency: Annual.
    Respondents: Depository institutions, credit unions, card system 
operators, and money transmitting business operators.
    Estimated number of respondents: 2,628 depository institutions, 
2,839 credit unions, 7 card system operators, 43 money transmitting 
business operators, and 3 new or de novo institutions.
    Estimated average hours per response: Ongoing annual burden of 8 
hours per recordkeeper for depository institutions, credit unions, card 
system operators, and money transmitting business operators. One-time 
burden of 100 hours for new or de novo institutions.
    Estimated annual burden hours: Ongoing burden, 44,436 hours, and 
one-time burden, 300 hours.
    General description of report: On November 18, 2008, the Board and 
the Department of the Treasury (the agencies) published a joint notice 
of final rulemaking in the Federal Register (73 FR 69382) adopting a 
rule on a prohibition on the funding of unlawful internet gambling 
pursuant to the Unlawful internet Gambling Enforcement Act of 2006 (the 
Act). Identical sets of the final joint rule with identically numbered 
sections were adopted by the Board and the Department of the Treasury 
(the Treasury) within their respective titles of the Code of Federal 
Regulations (12 CFR part 233 for the Board and 31 CFR part 132 for the 
Treasury). The compliance date for the joint rule was June 1, 2010 (74 
FR 62687). The collection of information is set out in sections 5 and 6 
of the joint rule.\1\ Section 5 of the joint rule, as required by the 
Act, requires all non-exempt participants in designated payment systems 
to establish and implement written policies and procedures reasonably 
designed to identify and block or otherwise prevent or prohibit 
transactions in connection with unlawful internet gambling. Section 6 
of the joint rule provides non-exclusive examples of policies and 
procedures deemed by the agencies to be reasonably designed to identify 
and block or otherwise prevent or prohibit transactions restricted by 
the Act.
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    \1\ Section 802 of the Act requires the agencies to prescribe 
joint regulations requiring each designated payment system, and all 
participants in such systems, to identify and block or otherwise 
prevent or prohibit restricted transactions through the 
establishment of policies and procedures reasonably designed to 
identify and block or otherwise prevent or prohibit the acceptance 
of restricted transactions.
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    Legal authorization and confidentiality: The Board is authorized 
pursuant to section 802 of the Act (31 U.S.C. 5364(a)) to prescribe 
regulations requiring designated payment systems and participants 
therein to establish of policies and procedures to identify and block 
or otherwise prevent or prohibit restricted transactions. The FR 4026 
is mandatory. The policies and procedures are not required to be 
submitted to the Board, so normally no confidentiality issues would be 
implicated. To the extent such policies and procedures are obtained by 
the Board through the examination process, they may be kept 
confidential under exemption 8 of the Freedom of Information Act (5 
U.S.C. 552(b)(8)), which protects information contained in or related 
to an examination of a financial institution.
    Current actions: On April 17, 2018, the agencies published a joint 
notice in the Federal Register (83 FR 16857) requesting public comment 
for 60 days on the extension, without revision, of the Recordkeeping 
Requirements Associated with Regulation GG (Prohibition on Funding of 
Unlawful Internet Gambling). The comment period for this notice expired 
on June 18, 2018. The agencies did not receive any comments. The 
information collection will be extended as proposed and the agencies 
are publishing separate final notices.

    Board of Governors of the Federal Reserve System, August 15, 
2018.
Ann Misback,
Secretary of the Board.
[FR Doc. 2018-17875 Filed 8-17-18; 8:45 am]
 BILLING CODE 6210-01-P