[Federal Register Volume 87, Number 205 (Tuesday, October 25, 2022)]
[Notices]
[Pages 64546-64547]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23169]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

[Docket No.: OFAC-2022-0005]


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

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other federal agencies to comment on proposed or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995. Currently, the Office of Foreign Assets Control (OFAC) within the 
Department of the Treasury is soliciting comments concerning OFAC's 
Hizballah Financial Sanctions Regulations Report on Closure by U.S. 
Financial Institutions of Correspondent Accounts and Payable-Through 
Accounts.

DATES: Written comments must be submitted on or before December 27, 
2022 to be assured of consideration.

ADDRESSES: You may submit comments by either of the following methods:
    Federal eRulemaking Portal: www.regulations.gov. Follow the 
instructions on the website for submitting comments.
    Email: [email protected] with Attn: Request for Comments 
(Hizballah Financial Sanctions Regulations Report on Closure by U.S. 
Financial Institutions of Correspondent Accounts and Payable-Through 
Accounts).
    Instructions: All submissions received must include the agency name 
and refer to Docket Number OFAC-2022-0005 and the Office of Management 
and Budget (OMB) control number 1505-0255. Comments received will be 
made available to the public via https://www.regulations.gov or upon 
request, without change and including any personal information 
provided.

FOR FURTHER INFORMATION CONTACT: OFAC: Assistant Director for 
Licensing, 202-622-2480; Assistant Director for Regulatory Affairs, 
202-622-4855; or Assistant Director for Sanctions Compliance & 
Evaluation, 202-622-2490.

SUPPLEMENTARY INFORMATION: 
    Title: Hizballah Financial Sanctions Regulations Report on Closure 
by U.S. Financial Institutions of Correspondent Accounts and Payable-
Through Accounts.
    OMB Number: 1505-0255.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 566.504(b) of the Hizballah Financial 
Sanctions Regulations, 31 CFR part 566 (HFSR) provides that a U.S. 
financial institution that maintained a correspondent account or 
payable-through account for a foreign financial institution whose name 
is added to the List of Foreign Financial Institutions Subject to 
Correspondent Account or Payable-Through Account Sanctions (the ``CAPTA 
List'') on OFAC's website (www.treasury.gov/ofac) as subject to a 
prohibition on the maintaining of such accounts, must file a report 
with OFAC that provides full details on the closing of each such 
account, and on all transactions processed or executed through the 
account pursuant to Sec.  566.504, including the account outside of the 
United States to which funds remaining in the account were transferred. 
This report must be filed with OFAC within 30 days of closure of the 
account. This collection of information assists in verifying that U.S. 
financial institutions are complying with prohibitions on maintaining 
correspondent accounts or payable-through accounts for foreign 
financial institutions listed on the CAPTA List pursuant to 31 CFR part 
566. The reports will be reviewed by OFAC and may be used for 
compliance and enforcement purposes by the agency.
    Affected Public: The likely respondents affected by this collection 
of information are U.S. financial institutions maintaining 
correspondent accounts or payable-through accounts for foreign 
financial institutions.
    Estimated Number of Respondents: OFAC assesses that the estimate 
for the

[[Page 64547]]

number of unique reporting respondents is approximately 1.
    Frequency of Response: The estimated annual frequency of responses 
is approximately 1 response per respondent.
    Estimated Total Number of Annual Responses: The estimated total 
number of responses per year is approximately 1.
    Estimated Time per Response: OFAC assesses that there is an average 
time estimate of 2 hours per response.
    Estimated Total Annual Burden Hours: The estimated total annual 
reporting burden is approximately 2 hours.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and included in the request for OMB 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 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 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.
    Authority: 44 U.S.C. 3501 et seq.

Andrea M. Gacki,
Director, Office of Foreign Assets Control.
[FR Doc. 2022-23169 Filed 10-24-22; 8:45 am]
BILLING CODE 4810-AL-P