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FDIC Federal Register Citations
[Federal Register: February 17, 2006 (Volume 71, Number 33)]
[Notices]
[Page 8640-8648]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr17fe06-133]
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DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Office of Thrift Supervision
FEDERAL RESERVE SYSTEM
FEDERAL DEPOSIT INSURANCE CORPORATION
NATIONAL CREDIT UNION ADMINISTRATION
Agency Information Collection Activities; Proposed Collection;
Comment Request; Suspicious Activity Report by Depository Institutions
AGENCIES: Financial Crimes Enforcement Network, Office of the
Comptroller of the Currency, Office of Thrift Supervision, Department
of the Treasury; Board of Governors of the Federal Reserve System,
Federal Deposit Insurance Corporation, National Credit Union
Administration.
ACTION: Notice and request for comments.
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SUMMARY: The Financial Crimes Enforcement Network and the Banking
Supervisory Agencies \1\, as part of their continuing effort to reduce
paperwork and respondent burden, invite the general public and other
Federal agencies to take this opportunity to comment on information
collections, as required by the Paperwork Reduction Act of 1995, Public
Law 104-13 (44 U.S.C. 3506(c)(2)(A)). The Financial Crimes Enforcement
Network and the Banking Supervisory Agencies are soliciting comments
concerning the Suspicious Activity Report by Depository Institutions,
which is being revised and reformatted to standardize this report with
suspicious activity reports being filed by other financial
institutions. The report also is being revised to support joint filing,
providing the necessary data blocks and instructions for completing a
jointly filed suspicious activity report. The instructions limit joint
filing to those suspicious activities that do not involve insider
abuse.
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\1\ The term ``Banking Supervisory Agencies'' is the collective
term for the following organizations: The Office of the Comptroller
of the Currency, The Office of Thrift Supervision, The Board of
Governors of the Federal Reserve System, The Federal Deposit
Insurance Corporation, and The National Credit Union Administration.
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DATES: Written comments should be received on or before April 18, 2006.
ADDRESSES: Interested parties are invited to submit written comments to
any or all of the agencies. All comments, which should refer to the
Office of Management and Budget control numbers, will be shared among
the agencies. Direct all written comments as follows:
Financial Crimes Enforcement Network: Financial Crimes Enforcement
Network, Post Office Box 39, Vienna, VA 22183, Attention: 1506-0001,
Revised Suspicious Activity Report by Depository Institutions. Comments
also may be submitted by electronic mail to the following Internet
address: regcomments@fincen.gov with the caption in the body of the
text, ``Attention: 1506-0001, Revised Suspicious Activity Report by
Depository Institutions''.
Comptroller of the Currency: Communications Division, Office of the
Comptroller of the Currency, Public Information Room, Mailstop 1-5,
Attention: 1557-0180, 250 E Street, SW., Washington, DC 20219. In
addition, comments may be sent by fax to (202) 874-4448, or by
electronic mail to regs.comments@occ.treas.gov. You can inspect and
photocopy the comments at the OCC's Public Information Room, 250 E
Street, SW., Washington, DC 20219. You can make an appointment to
inspect the comments by calling (202) 874-5043.
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.
Office of Thrift Supervision: Information Collection Comments,
Chief Counsel's Office, Office of Thrift Supervision, 1700 G Street,
NW., Washington, DC 20552; send a facsimile transmission to (202) 906-
6518; or send an e-mail to infocollection.comments@ots.treas.gov. The
Office of Thrift Supervision will post comments and the related index
on its Internet site at http://www.ots.treas.gov. In addition,
interested persons may inspect comments at the Public Reading Room,
1700 G Street, NW., by appointment. To make an appointment, call (202)
906-5922, send an e-mail to public.info@ots.treas.gov, or send a
facsimile transmission to (202) 906-7755.
Board of Governors of the Federal Reserve System: You may submit
comments, identified by FR 2230, by any of the following methods:
Agency Web site: http://www.federalreserve.gov Follow the instructions
for submitting comments at http://www.federalreserve.gov/.
. Federal E-Rulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments.
E-mail: regs.comments@federalreserve.gov. Include docket
number in the subject line of the message.
FAX: 202/452-3819 or 202/452-3102.
Mail: Jennifer J. Johnson, Secretary, Board of Governors
of the Federal Reserve System, 20th Street and Constitution Avenue,
NW., Washington, DC 20551.
All public comments are available from the Board's Web site at:
http://www.federalreserve.gov/generalinfo/foia/ProposedRegs.cfm as
submitted, unless modified for technical reasons. Accordingly, your
comments will not be edited to remove any identifying or contact
information. Public comments may also be viewed electronically or in
paper in Room MP-500 of the Board's Martin Building (20th and C
Streets, NW) between 9 a.m. and 5 p.m. on weekdays.
Comments may be mailed to Ms. Jennifer J. Johnson, Secretary, Board
of Governors of the Federal Reserve System, 20th Street, and
Constitution Avenue, NW., Washington, DC 20551.
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However, because paper mail in the Washington area and at the Board of
Governors is subject to delay, please consider submitting your comments
by e-mail to regs.comments@federalreserve.gov, or faxing them to the
office of the Secretary at (202) 452-3819 or (202) 452-3102. Comments
addressed to Ms. Johnson may also be delivered to the Board's mail
facility in the West Courtyard between 8:45 a.m. and 5:15 p.m., located
on 21st Street between Constitution Avenue and C Street, NW. Members of
the public may inspect comments in Room MP-500 between 9 a.m. and 5
p.m. on weekdays pursuant to 261.12, except as provided in 261.14, of
the Board's Rules Regarding Availability of Information, 12 CFR 261.12
and 261.14.
Federal Deposit Insurance Corporation: Written comments should be
addressed to Steve Hanft, Clearance Officer, Legal Division MB-3064,
Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429. FAX number (202) 898-3838. E-mail:
shanft@fdic.gov.
National Credit Union Administration: Clearance Officer: Mr. Neil
M. McNamara, (703) 518-6447, National Credit Union Administration, 1775
Duke Street, Alexandria, VA 22314-3428, Fax No. (703) 518-6489, e-mail:
mcnamara@ncua.gov.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
a copy of the collection may be obtained by contacting:
Financial Crimes Enforcement Network: Regulatory Policy and
Programs Division at (800) 949-2732.
Comptroller of the Currency: You can request additional information
or a copy of the collection from Mary Gottlieb, OCC Clearance Officer,
or Camille Dickerson, (202) 874-5090, Legislative and Regulatory
Activities Division, Office of the Comptroller of the Currency, 250 E
Street, SW., Washington, DC 20219.
Office of Thrift Supervision: Richard C. Stearns, Enforcement
Deputy Counsel, Office of Enforcement, Office of Thrift Supervision,
1700 G Street, NW., Washington, DC 20552, (202) 906-7966.
Board of Governors of the Federal Reserve System: Michelle Long,
Federal Reserve Board Clearance Officer (202-452-3829), Division of
Research and Statistics, Board of Governors of the Federal Reserve
System, Washington, DC 20551. Telecommunications Device for the Deaf
(TDD) users may contact (202) 263-4869, Board of Governors of the
Federal Reserve System, Washington, DC 20551.
Federal Deposit Insurance Corporation: Steve Hanft, Legal Division
MB-3064, Federal Deposit Insurance Corporation, 550 17th Street, NW.,
Washington, DC 20429, (202) 898-3907.
National Credit Union Administration: Tracy Sumpter, Office of the
Chief Information Officer, (703) 518-6444 or John K. Ianno, Office of
General Counsel, (703) 518-6540.
SUPPLEMENTARY INFORMATION:
Title: Suspicious Activity Report by Depository Institutions. The
Office of the Comptroller of the Currency is renewing all information
collections covered under the information collection titled: ``(MA)--
Minimum Security Devices and Procedures, Reports of Suspicious
Activities, and Bank Secrecy Act Compliance--12 CFR 21.''
Office of Management and Budget Control Numbers
Financial Crimes Enforcement Network: 1506-0001.
Office of the Comptroller of the Currency: 1557-0180.
Office of Thrift Supervision: 1550-0003.
Board of Governors of the Federal Reserve System: 7100-0212.
Federal Deposit Insurance Corporation: 3064-0077.
National Credit Union Administration: 3133-0094.
Form Numbers
Financial Crimes Enforcement Network: Form 111.
Office of the Comptroller of the Currency: 8010-1/8010-9.
Office of Thrift Supervision: 1601.
Board of Governors of the Federal Reserve System: FR 2230.
Federal Deposit Insurance Corporation: 6710/06.
National Credit Union Administration: 2362.
Abstract: In 1985, the Banking Supervisory Agencies issued
procedures to be used by banks and certain other financial institutions
operating in the United States to report known or suspected criminal
activities to the appropriate law enforcement and Banking Supervisory
Agencies. Beginning in 1994, the Banking Supervisory Agencies and the
Financial Crimes Enforcement Network completely redesigned the
reporting process resulting in a Suspicious Activity Report, which
became effective in April 1996.\2\
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\2\ The report is authorized by the following regulations: 31
CFR 103.18 (Financial Crimes Enforcement Network); 12 CFR 21.11
(Office of the Comptroller of the Currency); 12 CFR 563.180 (Office
of Thrift Supervision); 12 CFR 208.62, 211.5(k), 211.24(f), and
225.4(f) (Board of Governors of the Federal Reserve System); 12 CFR
353.3 (Federal Deposit Insurance Corporation); 12 CFR 748.1
(National Credit Union Administration). The regulations were issued
under the authority contained in the following statutes: 31 U.S.C.
5318(g) (Financial Crimes Enforcement Network); 12 U.S.C. 93a, 1818,
1881-84, 3401-22, 31 U.S.C. 5318 (Office of the Comptroller of the
Currency); 12 U.S.C. 1463 and 1464 (Office of Thrift Supervision);
12 U.S.C. 248(a)(1), 324, 334, 625, 1844(c), 3105(c)(2) and 3106(a)
(Board of Governors of the Federal Reserve System); 12 U.S.C. 93a,
1818, 1881-84, 3401-22 (Federal Deposit Insurance Corporation); 12
U.S.C. 1766(a), 1789(a) (National Credit Union Administration).
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Current Action: The Banking Supervisory Agencies and the Financial
Crimes Enforcement Network propose several revisions to the reporting
form and instructions in order to enhance the clarity of the
instructions, allow for joint filing of Suspicious Activity Reports,
and to improve the usefulness of the Suspicious Activity Report to law
enforcement.
Data item 1 would be expanded to add two check boxes to indicate
whether the respondent institution is filing an updated report (data
item 1a) and whether the report is being filed jointly with another
financial institution (data item 1b).
Part I--Subject Information would be moved from Part II to Part I
and would collect information on the subject of the Suspicious Activity
Report. The section title would be changed to ``Subject Information''
from ``Suspect Information.'' Other proposed revisions to Part I are:
Proposed data item 2a would be added to indicate
whether multiple subjects are involved.
Proposed data item 6 ``Also known as (AKA-individual)
or doing business as (DBA-entity),'' would be added in order to
standardize the ``Subject Information'' section among all Suspicious
Activity Report forms.
Part II--Suspicious Activity Information would be moved from Part
III to Part II and would describe activity being reported. Proposed
revisions to Part II are:
Current data item 34, ``Total dollar amount involved in
known or suspicious activity,'' would be increased to twelve digits
from ten and would be renumbered as data item 22.
Current data item 38, which collects information about
the financial soundness of the respondent institution, would be
moved to Part V, ``Suspicious Activity Information-Narrative,'' data
item a.
Current data item 39, regarding bonding company
notification, would be deleted.
Current data items 40-44, law enforcement contact
information, would be moved to Part V, ``Suspicious Activity
Information-Narrative,'' data item g.
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Part III--Reporting Financial Institution Information would be
moved from Part I to Part III and would collect information that
identifies the respondent institution, the branch where the activity
took place, the affected account number(s), if any, and whether such
accounts have been closed as a result of the suspicious activity.
Proposed revisions to Part III are:
Proposed check box 26b would be added to indicate
whether two or more financial institutions are jointly filing a
single Suspicious Activity Report by completing data items 26
through 35.
Proposed data item 29 would collect the respondent
institution's internal control or file number. Respondent
institutions would be encouraged, but not required, to report an
internal control or file number.
Three check boxes would be added to proposed data item
33, ``Primary Federal Regulator,'' to identify the Internal Revenue
Service, the Security and Exchange Commission, and Commodity Futures
Trading Commission as regulators for purposes of a Suspicious
Activity Report joint filing.
Proposed data item 35, ``Relationship of subject (Part
I) to the above listed financial institution,'' would be moved from
Part II, current data item 30, to Part III.
Proposed data items 41-55 would provide space to
collect information regarding other branch locations. If more than
four branches are involved, the additional information would be
provided in Part V ``Suspicious Activity Information-Narrative.''
Current data item 13, ``If institution closed, date
closed,'' would be deleted.
Part IV--Contact for Assistance information is consolidated here.
The proposed data item 56, ``Designated contact office,'' would replace
current data items 45-48, ``contact name and title information.'' This
revised information, coupled with an internal control or file number,
would still provide law enforcement with adequate contact information
while protecting the name of the contact person.
Part V--Suspicious Activity Information-Narrative requires the
respondent institution to provide a chronological and complete
narrative account of the activity, including what is unusual,
irregular, or suspicious about the activity. Because the narrative is
considered the most important part of the Suspicious Activity Report,
the list of information that should be included in the narrative would
be expanded to aid the respondent in the completion of the Suspicious
Activity Report.
Finally, the instructions for completing the Suspicious Activity
Report would be expanded to include specific data item instructions for
each item on the reporting form. Items considered critical for law
enforcement purposes have been marked with an asterisk.
Type of Review: Revision of a currently approved collection. The
OCC's revision does not affect the portions of OMB Control No. 1557-
0180 relating to Minimum Security Devices and Bank Secrecy Act
Compliance. OCC is seeking only a renewal of the approval for those
provisions.
Affected Public: Business, for-profit institutions, and non-profit
institutions.
Estimated Number of Respondents
Financial Crimes Enforcement Network: 27,262.\3\
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\3\ Respondents comprise many of the same institutions
responding to the Supervisory Agencies.
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Office of the Comptroller of the Currency: 2100.
Office of Thrift Supervision: 862.
Board of Governors of the Federal Reserve System: 7,000.
Federal Deposit Insurance Corporation: 8000.
National Credit Union Administration: 9300.
Estimated Total Annual Responses
Financial Crimes Enforcement Network: 399,848.
Office of the Comptroller of the Currency: 250,700.
Office of Thrift Supervision: 36,569.
Board of Governors of the Federal Reserve System: 93,600.
Federal Deposit Insurance Corporation: 16,018.
National Credit Union Administration: 2,961.
Estimated Total Annual Burden: Estimated 60 minutes per form:
Financial Crimes Enforcement Network: 399,848 hours.\4\
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\4\ Only one form is filed in satisfaction of the rules of both
the Financial Crimes Enforcement Network and the banking supervisory
agencies. The estimated burden per form is 60 minutes; the hourly
burden does not attempt to allocate that time between agencies when
the form is filed in satisfaction of the rules of more than one
agency.
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Office of the Comptroller of the Currency: 316,430 hours.
Office of Thrift Supervision: 36,569 hours.
Board of Governors of the Federal Reserve System: 93,600 hours.
Federal Deposit Insurance Corporation: 16,018 hours.
National Credit Union Administration: 2,961 hours.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid Office of Management and Budget control
number. Records required to be retained under the Bank Secrecy Act and
these regulations issued by the Banking Supervisory Agencies must be
retained for five years. Generally, information collected pursuant to
the Bank Secrecy Act is confidential, but may be shared as provided by
law with regulatory and law enforcement authorities.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for Office of
Management and Budget 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 shall have 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 of information 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.
Dated: February 7, 2006.
William F. Baity,
Director, Financial Crimes Enforcement Network.
Dated: January 30, 2006.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division,
Office of the Comptroller of the Currency.
Dated: February 7, 2006.
Deborah Dakin,
Senior Deputy Chief Counsel, Regulations and Legislation Division,
Office of Thrift Supervision.
By the Board of Governors of the Federal Reserve System on
February 9, 2006.
Jennifer J. Johnson,
Secretary of the Board.
By Order of the Board of Directors.
Dated at Washington, DC, this 31st day of January, 2006.
Federal Deposit Insurance Corporation.
Robert E. Feldman,
Executive Secretary.
By the National Credit Union Administration Board on February 8,
2006.
Mary Rupp,
Secretary of the Board.
BILLING CODE 4810-02-P
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[FR Doc. 06-1433 Filed 2-16-06; 8:45 am]
BILLING CODE 4810-02-C
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