[Federal Register Volume 84, Number 230 (Friday, November 29, 2019)]
[Notices]
[Pages 65899-65900]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-25875]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Hizballah Financial Sanctions Regulations--
Report on Closure by U.S. Financial Institutions of Correspondent 
Accounts and Payable-Through Accounts

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

[[Page 65900]]


DATES: Comments should be received on or before December 30, 2019 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, 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 8100, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Office of Foreign Assets Control (OFAC)

    Title: Hizballah Financial Sanctions Regulations--Report on Closure 
by U.S. Financial Institutions of Correspondent Accounts and Payable-
Through Accounts.
    OMB Control Number: 1505-0255.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: 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.
    Form: None.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1.
    Frequency of Response: Once.
    Estimated Total Number of Annual Responses: 1.
    Estimated Time per Response: 2 hours.
    Estimated Total Annual Burden Hours: 2.

    Authority:  44 U.S.C. 3501 et seq.

    Dated: November 25, 2019.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2019-25875 Filed 11-27-19; 8:45 am]
 BILLING CODE 4810-AL-P