Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Financial Crimes Enforcement Network Information Collection Requests, 23436 [2020-08827]

Download as PDF lotter on DSKBCFDHB2PROD with NOTICES 23436 Federal Register / Vol. 85, No. 81 / Monday, April 27, 2020 / Notices Program do not require the support of TRIP; 2. The market for standalone terrorism risk insurance that is written outside of TRIP, including the reasons such coverage is offered and obtained, and whether the existence of such insurance provides any insights into the effectiveness of the Program; 3. The availability and affordability of private reinsurance, or capital markets support, for terrorism risk insurance exposures (both those exposures currently subject to TRIP as well as those otherwise held by insurers participating in TRIP); 4. The extent to which reinsurance for terrorism risk is being obtained as part of overall catastrophe reinsurance programs, the reasons for obtaining reinsurance for terrorism risk in this manner, and how—if at all—this has affected market capacity for terrorism risk reinsurance generally; 5. Any factors that impede private reinsurance or capital markets support for terrorism risk insurance; 6. The availability of terrorism risk insurance coverage for losses arising from nuclear, biological, chemical, or radiological (NBCR) exposures, and the availability of private reinsurance or capital markets support for such terrorism risk insurance; 7. Terrorism risk insurance issues presented by cyber-related losses, and the impact of TRIP in connection with such exposures, including your views as to the nature of the cyber-related terrorism losses that are included within TRIP; 6 8. Any potential changes that would encourage the take up of insurance for cyber-related losses arising from acts of terrorism as defined under TRIA, including but not limited to the modification of the lines of insurance covered by TRIP, revisions to the current sharing mechanisms for cyberrelated losses, and further changes to the certification process as it would apply to a cyber-related terrorism loss; 9. Private reinsurance or capital markets support for cyber-related losses arising from acts of terrorism as defined under TRIA; and 10. Any other issues relating to TRIP, terrorism risk insurance, or reinsurance that may be relevant to FIO’s assessment of the effectiveness of TRIP in the Effectiveness Report. 6 Treasury has previously addressed the application of TRIP to policies covering cyberrelated losses. 81 FR 95312 (December 27, 2016). VerDate Sep<11>2014 17:32 Apr 24, 2020 Jkt 250001 Dated: April 21, 2020. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2020–08817 Filed 4–24–20; 8:45 am] BILLING CODE 4810–25–P DEPARTMENT OF THE TREASURY Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Financial Crimes Enforcement Network Information Collection Requests Departmental Offices, U.S. Department of the Treasury. ACTION: Notice. AGENCY: 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. DATES: Comments should be received on or before May 27, 2020 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. FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be obtained from Molly Stasko by emailing PRA@treasury.gov, calling (202) 622– 8922, or viewing the entire information collection request at www.reginfo.gov. SUPPLEMENTARY INFORMATION: SUMMARY: Financial Crimes Enforcement Network (FinCEN) 1. Title: Registration of Money Services Business. OMB Control Number: 1506–0013. Type of Review: Extension without change of a currently approved collection. Description: Under 31 U.S.C. 5330 and its implementing regulation (31 CFR 1022.380), money services businesses must file an initial registration report with FinCEN, renew their registration every two years, reregister under certain circumstances, and maintain a list of their agents. Form: FinCEN Report 107. Affected Public: Business or other forprofit institutions. PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 Estimated Number of Respondents: 36,408. Frequency of Response: As required, Every two years, and Annually. Estimated Total Number of Annual Responses: 36,408. Estimated Time per Response: Varies from 30–70 minutes depending on type of registration. Estimated Total Annual Burden Hours: 22,007. 2. Title: Imposition of Special Measure concerning the Islamic Republic of Iran as a Jurisdiction of Primary Money Laundering Concern. OMB Control Number: 1506–0074. Type of Review: Extension without change of a currently approved collection. Description: 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. Form: None. Affected Public: Business or other forprofit institutions. Estimated Number of Respondents: 23,615. Frequency of Response: One-time notification. Estimated Total Number of Annual Responses: 23,615. Estimated Time per Response: 1 hour. Estimated Total Annual Burden Hours: 23,615. (Authority: 44 U.S.C. 3501 et seq.) Dated: April 21, 2020. Spencer W. Clark, Treasury PRA Clearance Officer. [FR Doc. 2020–08827 Filed 4–24–20; 8:45 am] BILLING CODE 4810–02–P DEPARTMENT OF THE TREASURY Open Meeting of the Advisory Committee on Risk-Sharing Mechanisms Departmental Offices, U.S. Department of the Treasury. ACTION: Notice of open meeting. AGENCY: This notice announces that the U.S. Department of the Treasury’s Advisory Committee on Risk-Sharing SUMMARY: E:\FR\FM\27APN1.SGM 27APN1

Agencies

[Federal Register Volume 85, Number 81 (Monday, April 27, 2020)]
[Notices]
[Page 23436]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-08827]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Financial Crimes Enforcement Network 
Information Collection Requests

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

ACTION: Notice.

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

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.

DATES: Comments should be received on or before May 27, 2020 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.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 

Financial Crimes Enforcement Network (FinCEN)

    1. Title: Registration of Money Services Business.
    OMB Control Number: 1506-0013.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Under 31 U.S.C. 5330 and its implementing regulation 
(31 CFR 1022.380), money services businesses must file an initial 
registration report with FinCEN, renew their registration every two 
years, re-register under certain circumstances, and maintain a list of 
their agents.
    Form: FinCEN Report 107.
    Affected Public: Business or other for-profit institutions.
    Estimated Number of Respondents: 36,408.
    Frequency of Response: As required, Every two years, and Annually.
    Estimated Total Number of Annual Responses: 36,408.
    Estimated Time per Response: Varies from 30-70 minutes depending on 
type of registration.
    Estimated Total Annual Burden Hours: 22,007.
    2. Title: Imposition of Special Measure concerning the Islamic 
Republic of Iran as a Jurisdiction of Primary Money Laundering Concern.
    OMB Control Number: 1506-0074.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: 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.
    Form: None.
    Affected Public: Business or other for-profit institutions.
    Estimated Number of Respondents: 23,615.
    Frequency of Response: One-time notification.
    Estimated Total Number of Annual Responses: 23,615.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 23,615.

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

    Dated: April 21, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-08827 Filed 4-24-20; 8:45 am]
 BILLING CODE 4810-02-P
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