Unblocking of One Specially Designated National and Blocked Person Pursuant to Executive Order 13448, 6179-6180 [2013-01855]

Download as PDF srobinson on DSK4SPTVN1PROD with Federal Register / Vol. 78, No. 19 / Tuesday, January 29, 2013 / Notices that is held in the same country as the claim against which it is pledged, and that is in the form of repurchase or securities lending agreements. The proposed new data on collateral held against claims will provide information for users to better assess net risks based on their own assumptions about the benefits of the collateral, and also should produce greater insight into reporting institutions’ own internal calculations of foreign country exposure, which typically take collateral into account. Fourth, the revisions would modify the FFIEC 009a public reporting requirement for exposures to individual countries. The threshold triggering public disclosure would remain, as currently set, at 1 percent of total assets or 20 percent of total capital, whichever is less. However, in calculating claims for this purpose, institutions would no longer subtract local liabilities of foreign branches or subsidiaries, changing the basis of reporting claims from transfer risk to country risk. This proposed change could result in the disclosure of claims for additional individual countries for a given institution. Fifth, data on gross credit derivatives purchased would be collected for the first time. Gross credit derivatives sold is already reported on the FFIEC 009 report. In addition, a conservatively netted (i.e., at the counterparty and reference entity level) version of credit derivatives purchased and sold would also be reported. The values reported would be notional amounts. These proposed additional data would provide a more complete view of credit derivative exposures. Sixth, information on offsetting positions in the securities trading book would be reported. Trading books may contain closely related long and short positions that partially or fully offset one another, mitigating the risk inherent in a given level of gross exposure. This proposed memorandum item would provide the portion of trading assets that can be offset by short positions at the level of the issuer (legal entity basis) and the instrument (debt versus debt; equity versus equity). Seventh, the United States would be added as a country for which exposures would be reported. Reporting institutions have indicated a strong preference for including the U.S. in the country rows so that amounts reported on an institution’s FFIEC 009 report can be reconciled to those reported on its FR Y–9C report or Call Report (FFIEC 031), as appropriate, which includes exposures to the U.S. VerDate Mar<15>2010 16:47 Jan 28, 2013 Jkt 229001 Eighth, the banking agencies propose adding SLHCs 2 to the panel of entities that must file the FFIEC 009 and FFIEC 009a. The proposed revisions would provide data to analyze the foreign country exposures and overall financial condition of SLHCs. Finally, the publicly available FFIEC 009a report would be expanded to include additional information for those individual countries for which the reporting threshold is triggered. This expansion would incorporate much of the new information proposed to be added to the FFIEC 009 report—the risk mitigants of collateral, offsetting positions for the trading book, and credit derivatives purchased; securities HTM and AFS; and claims on nonbank financial institutions—into the FFIEC 009a report. The proposed revisions to the FFIEC 009a report also include adding selected data currently reported on the FFIEC 009 report but not on the FFIEC 009a report—trading assets and unused commitments and guarantees— to properly inform the new information on offsetting positions for the trading book and off-balance-sheet items. The proposed enhancements to the FFIEC 009a report would provide market participants with more detailed aggregate exposure data for analytical purposes. Legal Basis for the Information Collection These information collections are mandatory under the following statutes: 12 U.S.C. 161 and 1817 (national banks), 12 U.S.C. 1464 (federal savings associations), 12 U.S.C. 248(a), 1844(c), and 3906 (state member banks and bank holding companies); 12 U.S.C. 1467a(b)(2) and 5412 (savings and loan holding companies); and 12 U.S.C. 1817 and 1820 (insured state nonmember commercial and savings banks and insured state savings associations). The FFIEC 009 information collection is given confidential treatment (5 U.S.C. 552(b)(4) and (b)(8)). The FFIEC 009a information collection is not given confidential treatment. Request for Comment The agencies invite comment on the following topics related to this collection of information: (a) Whether the information collections are necessary for the proper performance of the agencies’ functions, 2 The Dodd-Frank Wall Street Reform and Consumer Protection Act (Pub. L. 111–203) was enacted into law on July 21, 2010. Title III of the Dodd-Frank Act abolished the Office of Thrift Supervision (OTS) and transferred all former OTS authorities (including rulemaking) related to SLHCs to the Federal Reserve effective as of July 21, 2011. PO 00000 Frm 00115 Fmt 4703 Sfmt 4703 6179 including whether the information has practical utility; (b) The accuracy of the agencies’ estimates of the burden of the information collections, including the validity of the methodology and assumptions used; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of information collections 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. All comments will become a matter of public record. Dated: January 10, 2013. Michele Meyer, Assistant Director, Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency. Board of Governors of the Federal Reserve System, January 17, 2013. Robert deV. Frierson, Secretary of the Board. Dated at Washington, DC, this 15th day of January 2013. Federal Deposit Insurance Corporation. Robert E. Feldman, Executive Secretary. [FR Doc. 2013–01816 Filed 1–28–13; 8:45 am] BILLING CODE 4810–33–P; 6714–01–P; 6210–01–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Unblocking of One Specially Designated National and Blocked Person Pursuant to Executive Order 13448 Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Treasury Department’s Office of Foreign Assets Control (‘‘OFAC’’) is publishing the name of one individual whose property and interests in property has been unblocked pursuant to Executive Order 13448 of October 18, 2007 (‘‘Blocking Property and Prohibiting Certain Transactions Related to Burma’’) (‘‘E.O. 13448’’). DATES: The unblocking and removal from the list of Specially Designated Nationals and Blocked Persons (‘‘SDN List’’) of the individual identified in this notice whose property and interests in property was blocked pursuant to Executive Order 13448 of October 18, 2007, is effective on January 24, 2013. SUMMARY: E:\FR\FM\29JAN1.SGM 29JAN1 6180 Federal Register / Vol. 78, No. 19 / Tuesday, January 29, 2013 / Notices FOR FURTHER INFORMATION CONTACT: Assistant Director, Sanctions Compliance and Evaluation, Office of Foreign Assets Control, Department of the Treasury, Washington, DC 20220, tel.: 202/622–2490. SUPPLEMENTARY INFORMATION: nationality Burma; citizen Burma; National ID No. S2733659J (Singapore) issued 07 Jul 2005; permanent resident Singapore (individual) [BURMA]. Dated: January 24, 2013. Adam J. Szubin, Director, Office of Foreign Assets Control. srobinson on DSK4SPTVN1PROD with Electronic and Facsimile Availability This document and additional information concerning OFAC are available from OFAC’s web site (www.treasury.gov/ofac) or via facsimile through a 24-hour fax-on demand service tel.: (202) 622–0077. [FR Doc. 2013–01855 Filed 1–28–13; 8:45 am] Background On October 18, 2007, President George W. Bush signed E.O. 13448 pursuant to, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701 et. seq.). In E.O. 13448, the President took additional steps with respect to, and expanded, the national emergency declared in Executive Order 13047 of May 20, 1997, to address the Government of Burma’s continued repression of the democratic opposition in Burma. The President identified twelve individuals and entities in the Annex to E.O. 13448 as subject to the economic sanctions imposed by that Order. Section 1 of E.O. 13448 blocks, with certain exceptions, all property and interests in property that are in, or come within, the United States, or that are or come within the possession or control of United States persons, including their overseas branches, of the persons listed in the Annex to E.O. 13448, as well as those persons determined by the Secretary of the Treasury, after consultation with the Secretary of State, to satisfy any of the criteria set forth in subparagraphs (b)(i)–(b)(vi) of Section 1. On February 5, 2008, the Director of OFAC, after consultation with the Department of State designated, pursuant to one or more of the criteria set forth in Section 1, subparagraphs (b)(i)–(b)(vi) of E.O. 13448, the individual listed below, whose property and interests in property were blocked pursuant to the Order. On January 24, 2013, the Director of OFAC removed and unblocked from the SDN List the individual listed below, whose property and interests in property were blocked pursuant to E.O. 13448: 1. THEIN, U Kyaw, 503 Sembawang Road, #02–29 757707, Singapore; c/o Air Bagan Holdings Pte. Ltd., undetermined; c/o Htoo Wood Products Pte. Ltd., undetermined; c/o Pavo Aircraft Leasing Pte. Ltd., undetermined; c/o Pavo Trading Pte. Ltd., undetermined; DOB 25 Oct 1947; Designation of Individuals Pursuant to Executive Order 13413 VerDate Mar<15>2010 16:47 Jan 28, 2013 Jkt 229001 BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Office of Foreign Assets Control Office of Foreign Assets Control, Treasury. ACTION: Notice. AGENCY: The Treasury Department’s Office of Foreign Assets Control (‘‘OFAC’’) is publishing the name of two individuals whose property and interests in property have been blocked pursuant to Executive Order 13413 of October 27, 2006, ‘‘Blocking Property of Certain Persons Contributing to the Conflict in the Democratic Republic of Congo.’’ DATES: The designation by the Director of OFAC of the two individuals identified in this notice, pursuant to Executive Order 13413 of October 27, 2006, was effective on January 24, 2013. FOR FURTHER INFORMATION CONTACT: Assistant Director for Sanctions Compliance and Evaluation, Office of Foreign Assets Control, Department of the Treasury, Washington, DC 20220, tel.: 202/622–2490. SUPPLEMENTARY INFORMATION: SUMMARY: Electronic and Facsimile Availability This document and additional information concerning OFAC are available from OFAC’s web site (www.treas.gov/ofac) and via facsimile through a 24-hour fax-on demand service, tel.: (202) 622–0077. Background On October 27, 2006, the President signed Executive Order 13413 (the ‘‘Order’’ or ‘‘E.O. 13413’’) pursuant to, inter alia, the International Emergency Economic Powers Act (50 U.S.C. 1701 et seq.) (IEEPA) and section 5 of the United Nations Participation Act, as amended (22 U.S.C. 287c) (UNPA). In the Order, the President found that the situation in or in relation to the Democratic Republic of the Congo constitutes an unusual and extraordinary threat to the foreign policy of the United States and imposed PO 00000 Frm 00116 Fmt 4703 Sfmt 4703 sanctions, and authorized additional sanctions, to address that threat. Section 1 of the Order blocks, with certain exceptions, all property and interests in property that are in, or thereafter come within, the United States, or within the possession or control of United States persons, of the persons identified by the President in the Annex to the Order, as well as those persons determined by the Secretary of the Treasury, after consultation with the Secretary of State, to meet any of the criteria set forth in subparagraphs (a)(ii)(A)–(a)(ii)(G) of Section 1 of the Order. On January 24, 2013, the Director of OFAC exercised the Secretary of the Treasury’s authority to designate, pursuant to one or more of the criteria set forth in Section 1 of the Order, the two individuals listed below, whose property and interests in property therefore are blocked pursuant to E.O. 13413. The listing of the blocked individuals appears as follows: 1. RUNIGA, Jean-Marie Rugerero (a.k.a. RUNIGA, Jean-Marie Lugerero); DOB September 17, 1966; POB Democratic Republic of the Congo (individual) [DRCONGO] 2. BADEGE, Eric; DOB 1971; Lieutenant Colonel; Alternate Title: Colonel (individual) [DRCONGO] Dated: January 24, 2013. Adam J. Szubin, Director, Office of Foreign Assets Control. [FR Doc. 2013–01854 Filed 1–28–13; 8:45 am] BILLING CODE 4810–AL–P DEPARTMENT OF THE TREASURY Internal Revenue Service Proposed Collection; Comment Request Internal Revenue Service (IRS), Treasury. ACTION: Notice and request for comments. AGENCY: 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 take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995. DATES: Written comments should be received on or before April 1, 2013 to be assured of consideration. ADDRESSES: Direct all written comments to Yvette Lawrence, Internal Revenue SUMMARY: E:\FR\FM\29JAN1.SGM 29JAN1

Agencies

[Federal Register Volume 78, Number 19 (Tuesday, January 29, 2013)]
[Notices]
[Pages 6179-6180]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2013-01855]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Unblocking of One Specially Designated National and Blocked 
Person Pursuant to Executive Order 13448

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice.

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SUMMARY: The Treasury Department's Office of Foreign Assets Control 
(``OFAC'') is publishing the name of one individual whose property and 
interests in property has been unblocked pursuant to Executive Order 
13448 of October 18, 2007 (``Blocking Property and Prohibiting Certain 
Transactions Related to Burma'') (``E.O. 13448'').

DATES: The unblocking and removal from the list of Specially Designated 
Nationals and Blocked Persons (``SDN List'') of the individual 
identified in this notice whose property and interests in property was 
blocked pursuant to Executive Order 13448 of October 18, 2007, is 
effective on January 24, 2013.

[[Page 6180]]


FOR FURTHER INFORMATION CONTACT: Assistant Director, Sanctions 
Compliance and Evaluation, Office of Foreign Assets Control, Department 
of the Treasury, Washington, DC 20220, tel.: 202/622-2490.

SUPPLEMENTARY INFORMATION: 

Electronic and Facsimile Availability

    This document and additional information concerning OFAC are 
available from OFAC's web site (www.treasury.gov/ofac) or via facsimile 
through a 24-hour fax-on demand service tel.: (202) 622-0077.

Background

    On October 18, 2007, President George W. Bush signed E.O. 13448 
pursuant to, inter alia, the International Emergency Economic Powers 
Act (50 U.S.C. 1701 et. seq.). In E.O. 13448, the President took 
additional steps with respect to, and expanded, the national emergency 
declared in Executive Order 13047 of May 20, 1997, to address the 
Government of Burma's continued repression of the democratic opposition 
in Burma. The President identified twelve individuals and entities in 
the Annex to E.O. 13448 as subject to the economic sanctions imposed by 
that Order.
    Section 1 of E.O. 13448 blocks, with certain exceptions, all 
property and interests in property that are in, or come within, the 
United States, or that are or come within the possession or control of 
United States persons, including their overseas branches, of the 
persons listed in the Annex to E.O. 13448, as well as those persons 
determined by the Secretary of the Treasury, after consultation with 
the Secretary of State, to satisfy any of the criteria set forth in 
subparagraphs (b)(i)-(b)(vi) of Section 1.
    On February 5, 2008, the Director of OFAC, after consultation with 
the Department of State designated, pursuant to one or more of the 
criteria set forth in Section 1, subparagraphs (b)(i)-(b)(vi) of E.O. 
13448, the individual listed below, whose property and interests in 
property were blocked pursuant to the Order.
    On January 24, 2013, the Director of OFAC removed and unblocked 
from the SDN List the individual listed below, whose property and 
interests in property were blocked pursuant to E.O. 13448:
    1. THEIN, U Kyaw, 503 Sembawang Road, 02-29 757707, 
Singapore; c/o Air Bagan Holdings Pte. Ltd., undetermined; c/o Htoo 
Wood Products Pte. Ltd., undetermined; c/o Pavo Aircraft Leasing Pte. 
Ltd., undetermined; c/o Pavo Trading Pte. Ltd., undetermined; DOB 25 
Oct 1947; nationality Burma; citizen Burma; National ID No. S2733659J 
(Singapore) issued 07 Jul 2005; permanent resident Singapore 
(individual) [BURMA].

    Dated: January 24, 2013.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. 2013-01855 Filed 1-28-13; 8:45 am]
BILLING CODE 4810-AL-P

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