Renewal Without Change of Information Collection Requirements in Connection With the Imposition of a Special Measure Concerning the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern, 5276-5278 [2020-01526]

Download as PDF 5276 Federal Register / Vol. 85, No. 19 / Wednesday, January 29, 2020 / Notices lotter on DSKBCFDHB2PROD with NOTICES implantation are remedial procedures and thus, not medically disqualifying. Implantable cardioverter defibrillators are disqualifying due to risk of syncope. III. Discussion of Comments FMCSA received three comments in this proceeding. Of the three comments received, two were duplicate comments from an anonymous commenter. The anonymous commenter supports all three individuals being granted an exemption based on the documentation that they have provided, that they have improved cardiac statuses, and that their ICDs have never deployed. The commenter states that individuals with epilepsy and diabetes are able to get approved for exemptions despite their condition and treatment. This commenter states that the Agency should do more research and make exemption decisions on a case-by-case basis. Mr. Christopher Oakland, an applicant, commented in support of FMCSA granting exemptions for 1 year to individuals who provide medical documentation from a qualified healthcare provider, that the individual is stable, the individual has no documented symptoms of syncope, dyspnea, collapse or congestive heart failure as stated in the cardiovascular standard, and the ICD has not administered therapy. Mr. Oakland commented that he submitted a total of three letters and that two of the three letters are from two different electrocardiologists. He further commented that the Federal Register notice posted that he submitted only two letters. In response to the first commenter, FMCSA reviews and considers each request received for an ICD exemption individually to determine whether the applicant is able to meet a level of safety equivalent to, or greater than, the level achieved without an exemption. While the individuals’ underlying cardiac conditions may demonstrate levels of improvement, their medical treatment plans also rely on the ICD device. The device, though it may not have deployed since implantation, may unpredictably deploy at a future date to deliver therapy. Based on the available medical and scientific data concerning ICDs, FMCSA finds that the applicants have an ongoing risk for incapacitation if the device discharges in response to cardiovascular symptoms. This risk for incapacitation does not meet an equal or greater level of safety that would be achieved absent an exemption. Concerning the comments on the need for additional research, FMCSA has processes and procedures in place to consider new research and existing VerDate Sep<11>2014 17:27 Jan 28, 2020 Jkt 250001 research so that the Agency’s determinations are evidence-based. Mr. Oakland contacted the Agency prior to the close of the comment period to confirm that he submitted a total of three letters, one from his cardiologist, and letters from two separate electrophysiologists. Mr. Oakland was informed that the statement in the Federal Register regarding the submission of two letters was an oversight, and confirmed that the content of each of the electrophysiologists’ letters was considered prior to the date that the Federal Register notice was published. IV. Basis for Exemption Determination Under 49 U.S.C. 31136(e) and 31315(b), FMCSA may grant an exemption from the FMCSRs for no longer than a 5-year period if it finds such exemption would likely achieve a level of safety that is equivalent to, or greater than, the level that would be achieved absent such exemption. The Agency’s decision regarding these exemption applications is based on an individualized assessment of each applicant’s medical information, available medical and scientific data concerning ICDs, and the public comments received. ICDs are electronic devices that treat cardiac arrest, ventricular fibrillation, and ventricular tachycardia, through the delivery of rapid pacing stimuli or shock therapy. ICDs treat but do not prevent arrhythmias. Therefore, the individual remains at risk for syncope or loss of consciousness. The underlying conditions for which the ICD was implanted therefore places these individuals at high risk for syncope or other unpredictable events know to result in gradual or sudden incapacitation. In addition, ICDs may discharge, which could result in loss of ability to safely control a CMV. The December 2014 focused research report referenced previously upholds the findings of the April 2007 report and indicates that the available scientific data on individuals with ICDs and CMV driving does not support that individuals with ICDs who operate CMVs are able to meet an equal or greater level of safety. FMCSA’s individual assessment of the exemption applications and the public comments does not provide any basis for departing from its general views on the risks posed by individual with an underlying cardiovascular condition that requires the implantation of an ICD to control. In the case of persons with ICDs, the underlying condition for which the ICD was implanted places the individual at high risk for syncope or other PO 00000 Frm 00087 Fmt 4703 Sfmt 4703 unpredictable events known to result in gradual or sudden incapacitation. ICDs may discharge, which could result in loss of ability to safely control a CMV. The December 2014 focused research report referenced previously upholds the findings of the April 2007 report and indicates that the available scientific data on persons with ICDs and CMV driving does not support that persons with ICDs who operate CMVs are able to meet an equal or greater level of safety. V. Conclusion The Agency has determined that the available medical and scientific literature and research provides insufficient data, even when considered with the individual assessment of each application, to enable the Agency to conclude that granting these exemptions would achieve a level of safety equivalent to, or greater than, the level of safety maintained without the exemption. Therefore, the following four applicants have been denied exemptions from the physical qualification standards in § 391.41(b)(4): Christopher Cloud (GA) Joby Doucet (LA) Robert D. Forbes (NY) Christopher Oakland (RI) Each applicant has, prior to this notice, received a letter of final disposition regarding his/her exemption request. Those decision letters fully outlined the basis for the denial and constitute final action by the Agency. The list published today summarizes the Agency’s recent denials as required under 49 U.S.C. 31315(b)(4). Issued on: January 23, 2020. Larry W. Minor, Associate Administrator for Policy. [FR Doc. 2020–01550 Filed 1–28–20; 8:45 am] BILLING CODE 4910–EX–P DEPARTMENT OF THE TREASURY Renewal Without Change of Information Collection Requirements in Connection With the Imposition of a Special Measure Concerning the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern Financial Crimes Enforcement Network (‘‘FinCEN’’), Treasury. ACTION: Notice and request for comments. AGENCY: As part of a continuing effort to reduce paperwork and respondent burden, FinCEN invites comment on a renewal, without change, to information SUMMARY: E:\FR\FM\29JAN1.SGM 29JAN1 Federal Register / Vol. 85, No. 19 / Wednesday, January 29, 2020 / Notices collection requirements finalized on November 4, 2019, imposing a special measure with respect to the Islamic Republic of Iran as a jurisdiction of primary money laundering concern. This request for comments is being made pursuant to the Paperwork Reduction Act of 1995. DATES: Written comments are welcome and must be received on or before March 30, 2020. ADDRESSES: Comments may be submitted by any of the following methods: • Federal E-rulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. Refer to Docket Number FINCEN–2020– 0001 and the specific Office of Management and Budget (‘‘OMB’’) control number 1506–0074. • Mail: Global Investigation Division, Financial Crimes Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN–2020–0001 and OMB control number 1506–0074. Please submit comments by one method only. All comments submitted in response to this notice will become a matter of public record. Therefore, you should submit only information that you wish to make publicly available. FOR FURTHER INFORMATION CONTACT: FinCEN Resource Center at 1–800–767– 2825 or 1–703–905–3591 (not a toll free number) and select option 3 for regulatory questions. Email inquiries can be sent to FRC@fincen.gov. SUPPLEMENTARY INFORMATION: I. Background lotter on DSKBCFDHB2PROD with NOTICES a. Statutory Provisions On October 26, 2001, the President signed into law the Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001, Public Law 107–56 (the USA PATRIOT Act). Title III of the USA PATRIOT Act amended the anti-money laundering (AML) provisions of the Bank Secrecy Act (BSA), codified at 12 U.S.C. 1829b, 12 U.S.C. 1951–1959, and 31 U.S.C. 5311–5314, 5316–5332, to promote the prevention, detection, and prosecution of international money laundering and the financing of terrorism. Regulations implementing the BSA appear at 31 CFR Chapter X. The authority of the Secretary of the Treasury (the Secretary) to administer the BSA and its implementing regulations has been delegated to the Director of FinCEN.1 1 Therefore, references to the authority of the Secretary of the Treasury under Section 311 of the USA PATRIOT Act apply equally to the Director of FinCEN. VerDate Sep<11>2014 17:27 Jan 28, 2020 Jkt 250001 Section 311 of the USA PATRIOT Act (Section 311), codified at 31 U.S.C. 5318A, grants FinCEN the authority, upon finding that reasonable grounds exist for concluding that a foreign jurisdiction, financial institution, class of transactions, or type of account is of ‘‘primary money laundering concern,’’ to require domestic financial institutions and financial agencies to take certain ‘‘special measures’’ to address the primary money laundering concern. FinCEN may impose one or more of these special measures in order to protect the U.S. financial system from these threats. Special measures one through four, codified at 31 U.S.C. 5318A(b)(1)–(b)(4), impose additional recordkeeping, information collection, and reporting requirements on covered U.S. financial institutions. The fifth special measure, codified at 31 U.S.C. 5318A(b)(5), allows FinCEN to impose prohibitions or conditions on the opening or maintenance of certain correspondent accounts. b. Overview of the Current Regulatory Provisions Regarding Special Measures Concerning the Islamic Republic of Iran FinCEN issued a final rule on November 4, 2019, imposing the fifth special measure to prohibit U.S. financial institutions from opening or maintaining a correspondent account for, or on behalf of, Iranian banking institutions. (84 FR 59302). The rule further prohibits U.S. financial institutions from processing transactions for the correspondent account of a foreign bank in the United States if such a transaction involves an Iranian financial institution, and requires institutions to apply special due diligence to guard against such use by Iranian financial institutions. See 31 CFR 1010.661. Information Collection Under the Fifth Special Measure The notification requirement in section 1010.661(b)(3)(i)(A) is intended to enhance cooperation from correspondent account holders in denying Iran access to the U.S. financial system. The information required to be maintained by section 1010.661(b)(4)(i) will be used by federal agencies and certain self-regulatory organizations to verify compliance by covered financial institutions with the provisions of 31 CFR 1010.661. II. Paperwork Reduction Act (PRA) 2 Title: Renewal of Information Collection Requirements in connection 2 Public PO 00000 Law 104–13, 44 U.S.C. 3506(c)(2)(A). Frm 00088 Fmt 4703 Sfmt 4703 5277 with the Imposition of a Special Measure concerning the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern. Office of Management and Budget (OMB) Control Number: 1506–0074. Abstract: FinCEN is issuing this notice to renew the OMB control number for the imposition of a special measure against the Islamic Republic of Iran as a jurisdiction of primary money laundering concern pursuant to the authority contained in 31 U.S.C. 5318A. See 31 CFR 1010.661. Type of Review: Renewal without change of a currently approved collection. Affected Public: Businesses and certain not-for-profit institutions. Frequency: One time notification. See 31 CFR 1010.661(b)(3)(i)(A) and 1010.661(b)(4)(i). Estimated Number of Respondents: 23,615.3 Estimated Time per Respondent: 1 hour. Estimated Total Annual Burden: 23,615 hours. FinCEN’s estimated number of affected financial institutions accounts for all domestic financial institutions that could potentially maintain correspondent accounts for foreign banks, and is designed to ensure that all U.S. financial institutions are conducting their due diligence and not processing transactions that may involve Iranian financial institutions. There are approximately 23,615 such financial institutions doing business in the United States. In addition, all U.S. persons, including U.S. financial institutions, currently exercise some degree of due diligence in order to comply with existing U.S. sanctions programs applicable to Iran. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information 3 The Estimated Number of Respondents is based on the sum of the following numbers: • 5,358 banks [Federal Deposit Insurance Corporation, Key Statistics web page, April 25, 2019]; • 5,375 federally-insured credit unions [National Credit Union Administration, Quarterly Credit Union Data Summary, December 31, 2018]; • 125 privately-insured credit unions [General Accountability Office, PRIVATE DEPOSIT INSURANCE: Credit Unions Largely Complied with Disclosure Rules, but Rules Should Be Clarified, March 2017]; • 1,130 introducing brokers [National Futures Association website, March 31, 2019]; • 64 futures commission merchants [National Futures Association website, March 31, 2019]; • 3,607 securities firms [Financial Industry Regulatory Authority website, December 31, 2018]; and, • 7,956 U.S. mutual funds [Investment Company Institute, 2018 Factbook, 2018]. E:\FR\FM\29JAN1.SGM 29JAN1 5278 Federal Register / Vol. 85, No. 19 / Wednesday, January 29, 2020 / Notices unless it displays a valid control number assigned by OMB. Records required to be retained under the BSA must be retained for five years. Generally, information collected pursuant to the BSA is confidential but may be shared as provided by law with regulatory and law enforcement authorities. Request for Comments: Comments submitted in response to this notice will be summarized and/or 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 shall have 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. Jamal El-Hindi, Deputy Director, Financial Crimes Enforcement Network. [FR Doc. 2020–01526 Filed 1–28–20; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Proposed Collection; Comment Request; Regulation Agency Protests Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. 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 comment on the proposed information collections listed below, in accordance with the Paperwork Reduction Act of 1995. DATES: Written comments must be received on or before March 30, 2020. ADDRESSES: Send comments regarding the burden estimate, or any other aspect of the information collection, including suggestions for reducing the burden, to lotter on DSKBCFDHB2PROD with NOTICES SUMMARY: VerDate Sep<11>2014 17:27 Jan 28, 2020 Jkt 250001 Treasury PRA Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, DC 20220, or email at PRA@treasury.gov. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Steven Kvalevog by emailing Steven.Kvalevog@treasury.gov, calling (202) 622–6585, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: Title: Regulation Agency Protests. OMB Control Number: 1505–0107. Type of Review: Extension without change of a currently approved collection. Description: Information is requested of contractors so that the Government will be able to evaluate protests effectively and provide prompt resolution of issues in dispute when contractors file protests. Form: None. Affected Public: Businesses or other for-profits. Estimated Number of Respondents: 9. Frequency of Response: Once. Estimated Total Number of Annual Responses: 9. Estimated Time per Response: 2 hours. Estimated Total Annual Burden Hours: 18. Request for Comments: Comments submitted in response to this notice will be summarized and included in the request for Office of Management and Budget 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 shall have 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 technology; and (e) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services required to provide information. Authority: 44 U.S.C. 3501 et seq. Dated: January 24, 2020. Spencer W. Clark, Treasury PRA Clearance Officer. DEPARTMENT OF VETERANS AFFAIRS National Research Advisory Council; Amended Notice of Meeting The Department of Veterans Affairs (VA) gives notice under the Federal Advisory Committee Act, that the National Research Advisory Council will hold a meeting on Wednesday, March 4, 2020, at 810 Vermont Avenue NW, Room 230, Washington, DC 20420. The meeting will convene at 9:00 a.m. and end at 3:30 p.m. This meeting is open to the public. The purpose of the National Research Advisory Council is to advise the Secretary on research development conducted by the Veterans Health Administration, including policies and programs targeting the high priority of Veterans’ health care needs. On March 4, 2019, the agenda will include ethics training, briefing from Advisory Committee Management Office (ACMO), and briefings on various VA Research programs designed to enhance the research potential for Veterans. The Committee will also explore potential recommendations to be included in the next annual report. No time will be allocated at this meeting for receiving oral presentations from the public. However, public comments and presentations can be submitted to Avery Rock, Designated Federal Officer, Office of Research and Development (10X2), Department of Veterans Affairs, 810 Vermont Avenue NW, Washington, DC 20420, at (202) 461–9760, or by email at Avery.Rock@va.gov no later than close of business on February 26, 2020. All questions and presentations will be presented during the public comment section of the meeting. Because the meeting is being held in a government building, a photo I.D. must be presented at the Guard’s Desk as a part of the clearance process. Any member of the public seeking additional information should contact Avery Rock at the above phone number or email address noted above. Dated: January 24, 2020. LaTonya L. Small, Federal Advisory Committee Management Officer. [FR Doc. 2020–01542 Filed 1–28–20; 8:45 am] [FR Doc. 2020–01570 Filed 1–28–20; 8:45 am] BILLING CODE P BILLING CODE 4810–25–P PO 00000 Frm 00089 Fmt 4703 Sfmt 9990 E:\FR\FM\29JAN1.SGM 29JAN1

Agencies

[Federal Register Volume 85, Number 19 (Wednesday, January 29, 2020)]
[Notices]
[Pages 5276-5278]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-01526]


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DEPARTMENT OF THE TREASURY


Renewal Without Change of Information Collection Requirements in 
Connection With the Imposition of a Special Measure Concerning the 
Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering 
Concern

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: As part of a continuing effort to reduce paperwork and 
respondent burden, FinCEN invites comment on a renewal, without change, 
to information

[[Page 5277]]

collection requirements finalized on November 4, 2019, imposing a 
special measure with respect to the Islamic Republic of Iran as a 
jurisdiction of primary money laundering concern. This request for 
comments is being made pursuant to the Paperwork Reduction Act of 1995.

DATES: Written comments are welcome and must be received on or before 
March 30, 2020.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal E-rulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket Number 
FINCEN-2020-0001 and the specific Office of Management and Budget 
(``OMB'') control number 1506-0074.
     Mail: Global Investigation Division, Financial Crimes 
Enforcement Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket 
Number FINCEN-2020-0001 and OMB control number 1506-0074.
    Please submit comments by one method only. All comments submitted 
in response to this notice will become a matter of public record. 
Therefore, you should submit only information that you wish to make 
publicly available.

FOR FURTHER INFORMATION CONTACT: FinCEN Resource Center at 1-800-767-
2825 or 1-703-905-3591 (not a toll free number) and select option 3 for 
regulatory questions. Email inquiries can be sent to [email protected].

SUPPLEMENTARY INFORMATION:

I. Background

a. Statutory Provisions

    On October 26, 2001, the President signed into law the Uniting and 
Strengthening America by Providing Appropriate Tools Required to 
Intercept and Obstruct Terrorism Act of 2001, Public Law 107-56 (the 
USA PATRIOT Act). Title III of the USA PATRIOT Act amended the anti-
money laundering (AML) provisions of the Bank Secrecy Act (BSA), 
codified at 12 U.S.C. 1829b, 12 U.S.C. 1951-1959, and 31 U.S.C. 5311-
5314, 5316-5332, to promote the prevention, detection, and prosecution 
of international money laundering and the financing of terrorism. 
Regulations implementing the BSA appear at 31 CFR Chapter X. The 
authority of the Secretary of the Treasury (the Secretary) to 
administer the BSA and its implementing regulations has been delegated 
to the Director of FinCEN.\1\
---------------------------------------------------------------------------

    \1\ Therefore, references to the authority of the Secretary of 
the Treasury under Section 311 of the USA PATRIOT Act apply equally 
to the Director of FinCEN.
---------------------------------------------------------------------------

    Section 311 of the USA PATRIOT Act (Section 311), codified at 31 
U.S.C. 5318A, grants FinCEN the authority, upon finding that reasonable 
grounds exist for concluding that a foreign jurisdiction, financial 
institution, class of transactions, or type of account is of ``primary 
money laundering concern,'' to require domestic financial institutions 
and financial agencies to take certain ``special measures'' to address 
the primary money laundering concern.
    FinCEN may impose one or more of these special measures in order to 
protect the U.S. financial system from these threats. Special measures 
one through four, codified at 31 U.S.C. 5318A(b)(1)-(b)(4), impose 
additional recordkeeping, information collection, and reporting 
requirements on covered U.S. financial institutions. The fifth special 
measure, codified at 31 U.S.C. 5318A(b)(5), allows FinCEN to impose 
prohibitions or conditions on the opening or maintenance of certain 
correspondent accounts.

b. Overview of the Current Regulatory Provisions Regarding Special 
Measures Concerning the Islamic Republic of Iran

    FinCEN issued a final rule on November 4, 2019, imposing the fifth 
special measure to prohibit U.S. financial institutions from opening or 
maintaining a correspondent account for, or on behalf of, Iranian 
banking institutions. (84 FR 59302). The rule further prohibits U.S. 
financial institutions from processing transactions for the 
correspondent account of a foreign bank in the United States if such a 
transaction involves an Iranian financial institution, and requires 
institutions to apply special due diligence to guard against such use 
by Iranian financial institutions. See 31 CFR 1010.661.
Information Collection Under the Fifth Special Measure
    The notification requirement in section 1010.661(b)(3)(i)(A) is 
intended to enhance cooperation from correspondent account holders in 
denying Iran access to the U.S. financial system. The information 
required to be maintained by section 1010.661(b)(4)(i) will be used by 
federal agencies and certain self-regulatory organizations to verify 
compliance by covered financial institutions with the provisions of 31 
CFR 1010.661.

II. Paperwork Reduction Act (PRA) 2
---------------------------------------------------------------------------

    \2\ Public Law 104-13, 44 U.S.C. 3506(c)(2)(A).
---------------------------------------------------------------------------

    Title: Renewal of Information Collection Requirements in connection 
with the Imposition of a Special Measure concerning the Islamic 
Republic of Iran as a Jurisdiction of Primary Money Laundering Concern.
    Office of Management and Budget (OMB) Control Number: 1506-0074.
    Abstract: FinCEN is issuing this notice to renew the OMB control 
number for the imposition of a special measure against the Islamic 
Republic of Iran as a jurisdiction of primary money laundering concern 
pursuant to the authority contained in 31 U.S.C. 5318A. See 31 CFR 
1010.661.
    Type of Review: Renewal without change of a currently approved 
collection.
    Affected Public: Businesses and certain not-for-profit 
institutions.
    Frequency: One time notification. See 31 CFR 1010.661(b)(3)(i)(A) 
and 1010.661(b)(4)(i).
    Estimated Number of Respondents: 23,615.\3\
---------------------------------------------------------------------------

    \3\ The Estimated Number of Respondents is based on the sum of 
the following numbers:
     5,358 banks [Federal Deposit Insurance Corporation, Key 
Statistics web page, April 25, 2019];
     5,375 federally-insured credit unions [National Credit 
Union Administration, Quarterly Credit Union Data Summary, December 
31, 2018];
     125 privately-insured credit unions [General 
Accountability Office, PRIVATE DEPOSIT INSURANCE: Credit Unions 
Largely Complied with Disclosure Rules, but Rules Should Be 
Clarified, March 2017];
     1,130 introducing brokers [National Futures Association 
website, March 31, 2019];
     64 futures commission merchants [National Futures 
Association website, March 31, 2019];
     3,607 securities firms [Financial Industry Regulatory 
Authority website, December 31, 2018]; and,
     7,956 U.S. mutual funds [Investment Company Institute, 
2018 Factbook, 2018].
---------------------------------------------------------------------------

    Estimated Time per Respondent: 1 hour.
    Estimated Total Annual Burden: 23,615 hours.
    FinCEN's estimated number of affected financial institutions 
accounts for all domestic financial institutions that could potentially 
maintain correspondent accounts for foreign banks, and is designed to 
ensure that all U.S. financial institutions are conducting their due 
diligence and not processing transactions that may involve Iranian 
financial institutions.
    There are approximately 23,615 such financial institutions doing 
business in the United States. In addition, all U.S. persons, including 
U.S. financial institutions, currently exercise some degree of due 
diligence in order to comply with existing U.S. sanctions programs 
applicable to Iran.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information

[[Page 5278]]

unless it displays a valid control number assigned by OMB. Records 
required to be retained under the BSA must be retained for five years. 
Generally, information collected pursuant to the BSA is confidential 
but may be shared as provided by law with regulatory and law 
enforcement authorities.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or 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 shall have 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.

Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2020-01526 Filed 1-28-20; 8:45 am]
BILLING CODE 4810-02-P
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