[Federal Register Volume 88, Number 19 (Monday, January 30, 2023)]
[Notices]
[Pages 5963-5964]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-01757]


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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, 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: Comments should be received on or before March 1, 2023 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function. Copies of 
the submissions may be obtained from Melody Braswell by emailing 
[email protected], calling (202) 622-1035, or viewing the entire 
information collection request at www.reginfo.gov.

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:

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 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 number of unique reporting respondents is approximately 1.
    Frequency of Response: The estimated annual frequency of responses 
is approximately 1 response per respondent.

[[Page 5964]]

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

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-01757 Filed 1-27-23; 8:45 am]
BILLING CODE 4810-AL-P