Notice of OFAC Sanctions Actions, 6239-6240 [2022-02275]
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khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 23 / Thursday, February 3, 2022 / Notices
bank first becomes subject to the
guidelines.1
Overview of covered bank. A recovery
plan should describe the covered bank’s
overall organizational and legal entity
structure, including its material entities,
critical operations, core business lines,
and core management information
systems. The plan should describe
interconnections and interdependencies
(1) across business lines within the
covered bank; (2) with affiliates in a
bank holding company structure; (3)
between a covered bank and its foreign
subsidiaries and (4) with critical third
parties.
Triggers. A covered bank’s recovery
plan should identify triggers that
appropriately reflect the bank’s
particular vulnerabilities.
Options for recovery. A recovery plan
should identify a wide range of credible
options that a covered bank could
undertake to restore financial strength
and viability, thereby allowing the bank
to continue to operate as a going
concern and to avoid liquidation or
resolution. A recovery plan should
explain how the covered bank would
carry out each option and describe the
timing required for carrying out each
option. The recovery plan should
specifically identify the recovery
options that require approval.
Impact assessments. For each
recovery option, a covered bank should
assess and describe how the option
would affect the covered bank. This
impact assessment and description
should specify the procedures the
covered bank would use to maintain the
financial strength and viability of its
material entities, critical operations, and
core business lines for each recovery
option. For each option, the recovery
plan’s impact assessment should
address the following: (1) The effect on
the covered bank’s capital, liquidity,
funding, and profitability; (2) the effect
on the covered bank’s material entities,
critical operations, and core business
lines, including reputational impact;
and (3) any legal or market impediment
or regulatory requirement that must be
addressed or satisfied in order to
implement the option.
Escalation procedures. A recovery
plan should clearly outline the process
for escalating decision-making to the
covered bank’s senior management,
board of directors (board), or
appropriate board committee in
response to the breach of any trigger.
The recovery plan should also identify
the departments and persons
responsible for executing the decisions
1 83
FR 66604 (December 27, 2018).
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of senior management, the board, or an
appropriate board committee.
Management reports. A recovery plan
should require reports that provide
senior management, the board, or an
appropriate board committee with
sufficient data and information to make
timely decisions regarding the
appropriate actions necessary to
respond to the breach of a trigger.
Communication procedures. A
recovery plan should provide that the
covered bank will notify the OCC of any
significant breach of a trigger and any
action taken or to be taken in response
to such breach and should explain the
process for deciding when a breach of
a trigger is significant. A recovery plan
also should address when and how the
covered bank will notify persons within
the organization and other external
parties of its action under the recovery
plan. The recovery plan should
specifically identify how the covered
bank will obtain required approvals.
Other information. A recovery plan
should include any other information
that the OCC communicates in writing
directly to the covered bank regarding
the covered bank’s recovery plan.
A covered bank should (1) integrate
its recovery plan into its risk governance
functions and (2) align its recovery plan
with its other plans, such as its strategic,
operational (including business
continuity), contingency, capital
(including stress testing), liquidity, and
resolution planning. The covered bank’s
recovery plan also should be specific to
that covered bank and coordinated with
any recovery and resolution planning
efforts by the bank’s holding company.
A covered bank’s recovery plan
should address the responsibilities of
the bank’s management and board with
respect to the plan. Specifically,
management should review the recovery
plan at least annually and in response
to a material event. It should revise the
plan as necessary to reflect material
changes in the covered bank’s size, risk
profile, activities, and complexity, as
well as changes in external threats. This
review should evaluate the
organizational structure and its
effectiveness in facilitating a recovery.
The board is responsible for overseeing
the covered bank’s recovery planning
process. The board of a covered bank or
an appropriate board committee should
review and approve the recovery plan at
least annually, and as needed to address
significant changes made by
management.
The OCC believes that a large,
complex institution should undertake
recovery planning in order to be able to
respond quickly to and recover from the
financial effects of severe stress on the
PO 00000
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6239
institution. The process of developing
and maintaining a recovery plan also
should cause a covered bank’s
management and its board to enhance
their focus on risk governance with a
view toward lessening the negative
impact of future events. OCC examiners
will assess the appropriateness and
adequacy of the covered bank’s ongoing
recovery planning process as part of the
agency’s regular supervisory activities.
Type of Review: Extension, without
change, of a currently approved
collection.
Affected Public: Businesses or other
for-profit; individuals.
Total Number of Respondents: 8.
Total Burden per Respondent: 7,543
hours.
Total Burden for Collection: 60,344
hours.
On October 29, 2021, the OCC
published a 60-day notice for this
information collection, 86 FR 60105. No
comments were received. Comments
continue to be solicited 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 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.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2022–02301 Filed 2–2–22; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Actions
Office of Foreign Assets
Control, Treasury.
ACTION: Notice.
AGENCY:
The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing the names
of one or more persons that have been
placed on OFAC’s Specially Designated
Nationals and Blocked Persons List
SUMMARY:
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6240
Federal Register / Vol. 87, No. 23 / Thursday, February 3, 2022 / Notices
(SDN List) based on OFAC’s
determination that one or more
applicable legal criteria were satisfied.
All property and interests in property
subject to U.S. jurisdiction of these
persons are blocked, and U.S. persons
are generally prohibited from engaging
in transactions with them.
DATES: See SUPPLEMENTARY INFORMATION
section for applicable date(s).
FOR FURTHER INFORMATION CONTACT:
OFAC: Andrea Gacki, Director, tel.:
202–622–2490; Associate Director for
Global Targeting, tel.: 202–622–2420;
Assistant Director for Licensing, tel.:
202–622–2480; Assistant Director for
Regulatory Affairs, tel.: 202–622–4855;
or Assistant Director for Sanctions
Compliance & Evaluation, tel.: 202–622–
2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
The SDN List and additional
information concerning OFAC sanctions
programs are available on OFAC’s
website (https://www.treasury.gov/ofac).
Notice of OFAC Actions
On January 31, 2022, OFAC
determined that the property and
interests in property subject to U.S.
jurisdiction of the following persons are
blocked under the relevant sanctions
authority listed below.
khammond on DSKJM1Z7X2PROD with NOTICES
Individuals
1. OO, Thida (a.k.a. OO, Daw Thida; a.k.a.
OO, Thi Da), Burma; DOB 27 Nov 1964; POB
Rangoon, Burma; nationality Burma; citizen
Burma; Gender Female; Passport DM003921
(Burma) issued 02 Aug 2017 expires 01 Aug
2027; Union Attorney General (individual)
[BURMA–EO14014].
Designated pursuant to section 1(a)(iii)(B)
of Executive Order 14014 of February 10,
2021, ‘‘Blocking Property With Respect To
The Situation In Burma’’ (‘‘E.O. 14014’’), 86
FR 9429, for being a foreign person who is
or has been a leader or official of the
Government of Burma on or after February 2,
2021.
2. OO, Tin (a.k.a. OO, U Tin), No. 22,
Thanlwin Street, Pyinyawady Condominium,
No. 5 Quarter, Yankin Township, Rangoon,
Burma; DOB 24 Nov 1952; nationality Burma;
citizen Burma; Gender Male; National ID No.
5KALATANAING127084 (Burma); Chairman
of Anti-Corruption Commission (individual)
[BURMA–EO14014].
Designated pursuant to section 1(a)(iii)(B)
of E.O. 14014 for being a foreign person who
is or has been a leader or official of the
Government of Burma on or after February 2,
2021.
3. OO, Tun Tun (a.k.a. OO, Htun Htun;
a.k.a. OO, U Htun Htun; a.k.a. OO, U Tun
Tun), Naypyitaw, Burma; DOB 28 Jul 1956;
nationality Burma; citizen Burma; Gender
Male; Chief Justice of Union Supreme Court
(individual) [BURMA–EO14014].
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Designated pursuant to section 1(a)(iii)(B)
of E.O. 14014 for being a foreign person who
is or has been a leader or official of the
Government of Burma on or after February 2,
2021.
4. TAY ZA, Htoo Htet (a.k.a. TAYZA, Htoo
Htet), Burma; DOB 24 Jan 1993; alt. DOB 24
Jan 1994; citizen Burma; Gender Male
(individual) [BURMA–EO14014] (Linked To:
ZA, Tay).
Designated pursuant to section 1(a)(v) of
E.O. 14014 for being a spouse or adult child
of TAY ZA, a person whose property and
interests in property are blocked pursuant to
E.O. 14014.
5. TAY ZA, Pye Phyo (a.k.a. TAY ZA, Pyae
Phyo; a.k.a. TAYZA, Pye Phyo), Burma; DOB
29 Jan 1987; POB Burma; nationality Burma;
Gender Male (individual) [BURMA–
EO14014] (Linked To: ZA, Tay).
Designated pursuant to section 1(a)(v) of
E.O. 14014 for being a spouse or adult child
of TAY ZA, a person whose property and
interests in property are blocked pursuant to
E.O. 14014.
6. THAUNG, Jonathan Myo Kyaw (a.k.a.
TAUNG, Jonathan Kwang; a.k.a. THAUNG,
Jonathan Kwang; a.k.a. THAUNG, Jonathan
Kyaw; a.k.a. ‘‘MYO, Jonathan’’), Burma; DOB
29 Dec 1981; nationality Burma; Gender Male
(individual) [BURMA–EO14014] (Linked To:
MYANMA ECONOMIC HOLDINGS PUBLIC
COMPANY LIMITED).
Designated pursuant to section 1(a)(vi) of
E.O. 14014 for having materially assisted,
sponsored, or provided financial, material, or
technological support for, or goods or
services to or in support of MYANMA
ECONOMIC HOLDINGS PUBLIC COMPANY
LIMITED (MEHL), a person whose property
and interests in property are blocked
pursuant to E.O. 14014.
7. ZA, Tay, Singapore; Burma; DOB 18 Jul
1964; alt. DOB 18 Jul 1967; POB Burma;
citizen Burma; Gender Male; Passport 306869
(Burma); National ID No. MYGN 006415
(Burma) (individual) [BURMA–EO14014].
Designated pursuant to section 1(a)(i) of
E.O. 14014 for operating in the defense sector
of the Burmese economy or any other sector
of the Burmese economy as may be
determined by the Secretary of the Treasury,
in consultation with the Secretary of State.
Entity
Frm 00110
Authority: E.O. 14014, 86 FR 9429.
Dated: January 31, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control,
U.S. Department of the Treasury.
[FR Doc. 2022–02275 Filed 2–2–22; 8:45 am]
BILLING CODE 4810–AL–P
DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Actions
Office of Foreign Assets
Control, Treasury.
AGENCY:
ACTION:
Notice.
The U.S. Department of the
Treasury’s Office of Foreign Assets
Control (OFAC) is publishing the name
of one vessel identified as blocked
property that has been removed from
OFAC’s Specially Designated Nationals
and Blocked Persons List (SDN List).
Property and interests relating to the
vessel are no longer blocked, and U.S.
persons are no longer generally
prohibited from engaging in transactions
relating to the vessel.
SUMMARY:
See SUPPLEMENTARY INFORMATION
section for applicable date(s).
DATES:
1. DIRECTORATE OF PROCUREMENT OF
THE COMMANDER–IN–CHIEF OF DEFENSE
SERVICES ARMY (a.k.a. DIRECTORATE OF
PROCUREMENT, OFFICE OF THE
COMMANDER–IN–CHIEF ARMY, THE
REPUBLIC OF THE UNION OF MYANMAR;
a.k.a. MYANMAR DIRECTORATE OF
PROCUREMENT; a.k.a. ‘‘DIRECTORATE OF
DEFENSE PROCUREMENT’’; a.k.a.
‘‘DIRECTORATE OF PROCUREMENT’’), Nay
Pyi Taw City, Burma; Target Type
Government Entity [BURMA–EO14014].
Designated pursuant to section 1(a)(i) of
E.O. 14014 for operating in the defense sector
of the Burmese economy or any other sector
of the Burmese economy as may be
determined by the Secretary of the Treasury,
in consultation with the Secretary of State.
2. KT SERVICES & LOGISTICS KTSL
COMPANY LIMITED (a.k.a. KT SERVICES &
LOGISTICS CO., LTD; a.k.a. KT SERVICES
PO 00000
AND LOGISTICS CO., LTD; a.k.a. KT
SERVICES AND LOGISTICS COMPANY
LIMITED; a.k.a. KT SERVICES AND
LOGISTICS KTSL COMPANY LIMITED),
Pyay Road, A4/A5 Kamayut Township,
Rangoon 11201, Burma; Registration Country
Burma; Organization Established Date 18 Feb
2014; Registration Number 108301848
(Burma) [BURMA–EO14014] (Linked To:
MYANMA ECONOMIC HOLDINGS PUBLIC
COMPANY LIMITED).
Designated pursuant to section 1(a)(vi) of
E.O. 14014 for having materially assisted,
sponsored, or provided financial, material, or
technological support for, or goods or
services to or in support of MEHL, a person
whose property and interests in property are
blocked pursuant to E.O. 14014.
Fmt 4703
Sfmt 4703
FOR FURTHER INFORMATION CONTACT:
OFAC: Andrea Gacki, Director, tel.:
202–622–2480; Associate Director for
Global Targeting, tel: 202–622–2420;
Assistant Director for Licensing, tel.:
202–622–2480; Assistant Director for
Regulatory Affairs, tel.: 202–622–4855;
or the Assistant Director for Sanctions
Compliance & Evaluation, tel.: 202–622–
2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
The SDN List and additional
information concerning OFAC sanctions
programs are available on OFAC’s
website (www.treasury.gov/ofac).
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]]>Agencies
[Federal Register Volume 87, Number 23 (Thursday, February 3, 2022)]
[Notices]
[Pages 6239-6240]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-02275]
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DEPARTMENT OF THE TREASURY
Office of Foreign Assets Control
Notice of OFAC Sanctions Actions
AGENCY: Office of Foreign Assets Control, Treasury.
ACTION: Notice.
-----------------------------------------------------------------------
SUMMARY: The U.S. Department of the Treasury's Office of Foreign Assets
Control (OFAC) is publishing the names of one or more persons that have
been placed on OFAC's Specially Designated Nationals and Blocked
Persons List
[[Page 6240]]
(SDN List) based on OFAC's determination that one or more applicable
legal criteria were satisfied. All property and interests in property
subject to U.S. jurisdiction of these persons are blocked, and U.S.
persons are generally prohibited from engaging in transactions with
them.
DATES: See SUPPLEMENTARY INFORMATION section for applicable date(s).
FOR FURTHER INFORMATION CONTACT: OFAC: Andrea Gacki, Director, tel.:
202-622-2490; Associate Director for Global Targeting, tel.: 202-622-
2420; Assistant Director for Licensing, tel.: 202-622-2480; Assistant
Director for Regulatory Affairs, tel.: 202-622-4855; or Assistant
Director for Sanctions Compliance & Evaluation, tel.: 202-622-2490.
SUPPLEMENTARY INFORMATION:
Electronic Availability
The SDN List and additional information concerning OFAC sanctions
programs are available on OFAC's website (https://www.treasury.gov/ofac).
Notice of OFAC Actions
On January 31, 2022, OFAC determined that the property and
interests in property subject to U.S. jurisdiction of the following
persons are blocked under the relevant sanctions authority listed
below.
Individuals
1. OO, Thida (a.k.a. OO, Daw Thida; a.k.a. OO, Thi Da), Burma;
DOB 27 Nov 1964; POB Rangoon, Burma; nationality Burma; citizen
Burma; Gender Female; Passport DM003921 (Burma) issued 02 Aug 2017
expires 01 Aug 2027; Union Attorney General (individual) [BURMA-
EO14014].
Designated pursuant to section 1(a)(iii)(B) of Executive Order
14014 of February 10, 2021, ``Blocking Property With Respect To The
Situation In Burma'' (``E.O. 14014''), 86 FR 9429, for being a
foreign person who is or has been a leader or official of the
Government of Burma on or after February 2, 2021.
2. OO, Tin (a.k.a. OO, U Tin), No. 22, Thanlwin Street,
Pyinyawady Condominium, No. 5 Quarter, Yankin Township, Rangoon,
Burma; DOB 24 Nov 1952; nationality Burma; citizen Burma; Gender
Male; National ID No. 5KALATANAING127084 (Burma); Chairman of Anti-
Corruption Commission (individual) [BURMA-EO14014].
Designated pursuant to section 1(a)(iii)(B) of E.O. 14014 for
being a foreign person who is or has been a leader or official of
the Government of Burma on or after February 2, 2021.
3. OO, Tun Tun (a.k.a. OO, Htun Htun; a.k.a. OO, U Htun Htun;
a.k.a. OO, U Tun Tun), Naypyitaw, Burma; DOB 28 Jul 1956;
nationality Burma; citizen Burma; Gender Male; Chief Justice of
Union Supreme Court (individual) [BURMA-EO14014].
Designated pursuant to section 1(a)(iii)(B) of E.O. 14014 for
being a foreign person who is or has been a leader or official of
the Government of Burma on or after February 2, 2021.
4. TAY ZA, Htoo Htet (a.k.a. TAYZA, Htoo Htet), Burma; DOB 24
Jan 1993; alt. DOB 24 Jan 1994; citizen Burma; Gender Male
(individual) [BURMA-EO14014] (Linked To: ZA, Tay).
Designated pursuant to section 1(a)(v) of E.O. 14014 for being a
spouse or adult child of TAY ZA, a person whose property and
interests in property are blocked pursuant to E.O. 14014.
5. TAY ZA, Pye Phyo (a.k.a. TAY ZA, Pyae Phyo; a.k.a. TAYZA, Pye
Phyo), Burma; DOB 29 Jan 1987; POB Burma; nationality Burma; Gender
Male (individual) [BURMA-EO14014] (Linked To: ZA, Tay).
Designated pursuant to section 1(a)(v) of E.O. 14014 for being a
spouse or adult child of TAY ZA, a person whose property and
interests in property are blocked pursuant to E.O. 14014.
6. THAUNG, Jonathan Myo Kyaw (a.k.a. TAUNG, Jonathan Kwang;
a.k.a. THAUNG, Jonathan Kwang; a.k.a. THAUNG, Jonathan Kyaw; a.k.a.
``MYO, Jonathan''), Burma; DOB 29 Dec 1981; nationality Burma;
Gender Male (individual) [BURMA-EO14014] (Linked To: MYANMA ECONOMIC
HOLDINGS PUBLIC COMPANY LIMITED).
Designated pursuant to section 1(a)(vi) of E.O. 14014 for having
materially assisted, sponsored, or provided financial, material, or
technological support for, or goods or services to or in support of
MYANMA ECONOMIC HOLDINGS PUBLIC COMPANY LIMITED (MEHL), a person
whose property and interests in property are blocked pursuant to
E.O. 14014.
7. ZA, Tay, Singapore; Burma; DOB 18 Jul 1964; alt. DOB 18 Jul
1967; POB Burma; citizen Burma; Gender Male; Passport 306869
(Burma); National ID No. MYGN 006415 (Burma) (individual) [BURMA-
EO14014].
Designated pursuant to section 1(a)(i) of E.O. 14014 for
operating in the defense sector of the Burmese economy or any other
sector of the Burmese economy as may be determined by the Secretary
of the Treasury, in consultation with the Secretary of State.
Entity
1. DIRECTORATE OF PROCUREMENT OF THE COMMANDER-IN-CHIEF OF
DEFENSE SERVICES ARMY (a.k.a. DIRECTORATE OF PROCUREMENT, OFFICE OF
THE COMMANDER-IN-CHIEF ARMY, THE REPUBLIC OF THE UNION OF MYANMAR;
a.k.a. MYANMAR DIRECTORATE OF PROCUREMENT; a.k.a. ``DIRECTORATE OF
DEFENSE PROCUREMENT''; a.k.a. ``DIRECTORATE OF PROCUREMENT''), Nay
Pyi Taw City, Burma; Target Type Government Entity [BURMA-EO14014].
Designated pursuant to section 1(a)(i) of E.O. 14014 for
operating in the defense sector of the Burmese economy or any other
sector of the Burmese economy as may be determined by the Secretary
of the Treasury, in consultation with the Secretary of State.
2. KT SERVICES & LOGISTICS KTSL COMPANY LIMITED (a.k.a. KT
SERVICES & LOGISTICS CO., LTD; a.k.a. KT SERVICES AND LOGISTICS CO.,
LTD; a.k.a. KT SERVICES AND LOGISTICS COMPANY LIMITED; a.k.a. KT
SERVICES AND LOGISTICS KTSL COMPANY LIMITED), Pyay Road, A4/A5
Kamayut Township, Rangoon 11201, Burma; Registration Country Burma;
Organization Established Date 18 Feb 2014; Registration Number
108301848 (Burma) [BURMA-EO14014] (Linked To: MYANMA ECONOMIC
HOLDINGS PUBLIC COMPANY LIMITED).
Designated pursuant to section 1(a)(vi) of E.O. 14014 for having
materially assisted, sponsored, or provided financial, material, or
technological support for, or goods or services to or in support of
MEHL, a person whose property and interests in property are blocked
pursuant to E.O. 14014.
Authority: E.O. 14014, 86 FR 9429.
Dated: January 31, 2022.
Andrea M. Gacki,
Director, Office of Foreign Assets Control, U.S. Department of the
Treasury.
[FR Doc. 2022-02275 Filed 2-2-22; 8:45 am]
BILLING CODE 4810-AL-P
