[Federal Register Volume 70, Number 157 (Tuesday, August 16, 2005)]
[Notices]
[Page 48234]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-16140]


=======================================================================
-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Submission for OMB Review; Comment Request

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

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

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 proposed information 
collection, as required by the Paperwork Reduction Act of 1995. 
Currently, the OCC is soliciting comments concerning an information 
collection titled ``Bank Secrecy Act/Money Laundering Risk 
Assessment.''

DATES: Written comments should be submitted by August 24, 2005.

ADDRESSES: Direct all written comments to the Communications Division, 
Office of the Comptroller of the Currency, Public Information Room, 
Mailstop 1-5, 250 E Street, SW., Washington, DC 20219. In addition, 
comments may be sent by facsimile transmission to (202) 874-5274, or by 
electronic mail to [email protected]. 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 Mark 
Menchik, OMB Desk Officer, Office of Management and Budget, New 
Executive Office Building, Room 3208, Washington, DC 20503. Electronic 
mail address is [email protected].

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb or Camille Dixon, 
(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 has submitted the Bank Secrecy Act/
Anti-Money Laundering Risk Assessment (Risk Assessment) to OMB under 
the emergency processing procedures in 5 CFR 1320.13. Further, the OCC 
has requested OMB action under these procedures by August 24, 2005. 
Thereafter, the OCC will seek clearance of the Risk Assessment under 
OMB's standard procedures.
    Title: Bank Secrecy Act/Anti-Money Laundering Risk Assessment.
    OMB Number: [1557-To be assigned].
    Form Number: N/A.
    Abstract: The Risk Assessment will enhance the ability of examiners 
and bank management to identify and evaluate any Bank Secrecy Act/Anti-
Money Laundering risks associated with the banks' products, services, 
customers, and locations. As new products and services are introduced, 
existing products and services change, and the banks expand through 
mergers and acquisitions, management's evaluation of money laundering 
and terrorist financing risks must evolve as well. Absent appropriate 
controls, such as this risk assessment, these lines of business, 
products, or entities could elevate Bank Secrecy Act/Anti-Money 
Laundering risks.
    Type of Review: New collection.
    Affected Public: Businesses or other for-profit.
    Number of Respondents: 2,042.
    Total Annual Responses: 2,042.
    Frequency of Response: Annually.
    Total Annual Burden Hours: 21,364.
    All comments will be considered in formulating the subsequent 
submission and 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 startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: August 4, 2005.
Stuart Feldstein,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. 05-16140 Filed 8-15-05; 8:45 am]
BILLING CODE 4810-33-P