Agency Information Collection Activities; Information Collection Revision; Submission for OMB Review; Bank Secrecy Act/Money Laundering Risk Assessment, 55083-55085 [2022-19375]
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Notices
information collection. All comments
will become a matter of public record.
The OCC invites comments on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) Whether the OCC has accurately
estimated the information collection
burden;
(c) How the OCC can enhance the
quality, utility, and clarity of the
information to be collected;
(d) How the OCC can minimize the
burden of the collection on respondents,
including through the use of automated
collection techniques or other forms of
information technology; and
(e) The respondents’ estimated capital
or start-up costs, as well as the costs of
operating, maintaining, and purchasing
services necessary to provide the
information being collected.
Theodore J. Dowd,
Deputy Chief Counsel, Office of the
Comptroller of the Currency.
[FR Doc. 2022–19374 Filed 9–7–22; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the
Currency
Agency Information Collection
Activities; Information Collection
Revision; Submission for OMB
Review; Bank Secrecy Act/Money
Laundering Risk Assessment
Office of the Comptroller of the
Currency (OCC), Treasury.
ACTION: Notice and request for comment.
AGENCY:
The OCC, as part of its
continuing effort to reduce paperwork
and respondent burden, invites
comment on a revised information
collection as required by the Paperwork
Reduction Act of 1995 (PRA). In
accordance with the requirements of the
PRA, the OCC may not conduct or
sponsor, and the respondent is not
required to respond to, an information
collection unless it displays a currently
valid Office of Management and Budget
(OMB) control number. The OCC is
soliciting comment concerning its
information collection entitled, ‘‘Bank
Secrecy Act/Money Laundering Risk
Assessment,’’ also known as the Money
Laundering Risk (MLR) System. The
OCC also is giving notice that it has sent
the collection to OMB for review.
DATES: Comments must be submitted by
October 11, 2022.
khammond on DSKJM1Z7X2PROD with NOTICES
SUMMARY:
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Commenters are encouraged
to submit comments by email, if
possible. You may submit comments by
any of the following methods:
• Email: prainfo@occ.treas.gov.
• Mail: Chief Counsel’s Office,
Attention: Comment Processing, 1557–
0231, Office of the Comptroller of the
Currency, 400 7th Street SW, Suite 3E–
218, Washington, DC 20219.
• Hand Delivery/Courier: 400 7th
Street SW, Suite 3E–218, Washington,
DC 20219.
• Fax: (571) 465–4326.
Instructions: You must include
‘‘OCC’’ as the agency name and ‘‘1557–
0231’’ in your comment. In general, the
OCC will publish comments on
www.reginfo.gov without change,
including any business or personal
information provided, such as name and
address information, email addresses, or
phone numbers. Comments received,
including attachments and other
supporting materials, are part of the
public record and subject to public
disclosure. Do not include any
information in your comment or
supporting materials that you consider
confidential or inappropriate for public
disclosure.
Written comments and
recommendations for the proposed
information collection should also be
sent within 30 days of publication of
this notice to www.reginfo.gov/public/
do/PRAMain. You can find this
information collection by selecting
‘‘Currently under 30-day Review—Open
for Public Comments’’ or by using the
search function.
On June 8, 2022, the OCC published
a 60-day notice for this information
collection (87 FR 34927). You may
review comments and other related
materials that pertain to this
information collection following the
close of the 30-day comment period for
this notice by the method set forth in
the next bullet.
• Viewing Comments Electronically:
Go to www.reginfo.gov. Hover over the
‘‘Information Collection Review’’ tab
and click on ‘‘Information Collection
Review’’ from the drop-down menu.
From the ‘‘Currently under Review’’
drop-down menu, select ‘‘Department of
Treasury’’ and then click ‘‘submit.’’ This
information collection can be located by
searching by OMB control number
‘‘1557–0231’’ or ‘‘Bank Secrecy Act/
Money Laundering Risk Assessment.’’
Upon finding the appropriate
information collection, click on the
related ‘‘ICR Reference Number.’’ On the
next screen, select ‘‘View Supporting
Statement and Other Documents’’ and
then click on the link to any comment
listed at the bottom of the screen.
ADDRESSES:
PO 00000
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55083
• For assistance in navigating
www.reginfo.gov, please contact the
Regulatory Information Service Center
at (202) 482–7340.
FOR FURTHER INFORMATION CONTACT:
Shaquita Merritt, OCC Clearance
Officer, (202) 874–5090, Chief Counsel’s
Office, Office of the Comptroller of the
Currency, 400 7th Street SW,
Washington, DC 20219. If you are deaf,
hard of hearing, or have a speech
disability please dial 7–1–1 to access
telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the
PRA, Federal agencies must obtain
approval from the OMB for each
collection of information they conduct
or sponsor. ‘‘Collection of information’’
is defined in 44 U.S.C. 3502(3) and 5
CFR 1320.3(c) to include questions
posed to agencies, instrumentalities, or
employees of the United States, if the
results are to be used for general
statistical purposes, that is, if the results
are to be used for statistical
compilations of general public interest,
including compilations showing the
status or implementation of Federal
activities and programs. The OCC asks
that OMB extend its approval of the
collection in this document.
Title: Bank Secrecy Act/Money
Laundering Risk Assessment.
OMB Control No: 1557–0231.
Type of Review: Regular.
Affected Public: Business or other forprofit.
Abstract: The MLR System enhances
the ability of examiners and bank
management to identify and evaluate
Bank Secrecy Act/Money Laundering
and Office of Foreign Asset Control
(OFAC) sanctions risks associated with
banks’ products, services, customers,
and locations. As new products and
services are introduced, existing
products and services change, and
banks expand through mergers and
acquisitions, banks’ evaluation of
money laundering and terrorist
financing risks should evolve as well.
Consequently, the MLR System risk
assessment is an important tool for the
OCC’s Bank Secrecy Act/Anti-Money
Laundering and OFAC supervision
activities because it allows the OCC to
better identify those institutions, and
business activities within institutions,
that may pose heightened risk and then
allocate examination resources
accordingly. This risk assessment is
critical for protecting U.S. financial
institutions of all sizes from potential
abuse from money laundering and
terrorist financing. The MLR System
also provides the OCC with information
regarding products or customers that
may be experiencing difficulties or
E:\FR\FM\08SEN1.SGM
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55084
Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Notices
challenges maintaining banking
services. MLR data assists banks’
management of BSA/AML programs and
provides a starting point for banks to
develop their risk assessments. An
appropriate risk assessment allows
controls to be effectively implemented
for the lines of business, products, or
entities that would elevate Bank Secrecy
Act/Money Laundering and OFAC
compliance risks.
The OCC collects MLR information
for community and trust banks
supervised by the OCC.
The OCC’s annual Risk Summary
Form (RSF) is fully automated making
assets—custody, stablecoin issuance,
and stablecoin payments.
2. The addition of two new customer
types under the money transmitters
category: administrators and exchangers
of virtual currency; and crypto ATM
operators.
3. The deletion of four existing PSCs:
boat/airplane, bulk cash/currency
repatriation customers, bulk cash/
currency repatriation, and international
branches.
The addition of these six new PSC
categories increases the number of data
collection points from 69 to 71 as shown
in the table below:
No.
Existing PSCs
1 .........
2 .........
3 .........
4 .........
5 .........
6 .........
7 .........
8 .........
9 .........
10 .......
11 .......
Convenience Stores
Liquor Stores
Domestic Charitable Organizations
Jewelry, Gem and Precious Metals Dealers
Casinos
Car Dealers
Boat/Airplane
Domestic Private Banking
Domestic Commercial Letters of Credit
Stand-by Letters of Credit
Customers/Accounts opened through the Internet, Mail, Wire
or Phone (non-branch)
Domestic Deposit Brokers
Travel Agencies
Broker Dealers
Telemarketers
Remotely Created Check Customers
1
2
3
4
5
6
7
8
9
10
11
Cash Transactions
Marijuana Related Businesses
ATM Operators
Crypto-Assets Custody
Stablecoin Issuance
Stablecoin Payments
Convenience Stores
Liquor Stores
Domestic Charitable Organizations
Jewelry, Gem and Precious Metals Dealers
Casinos
12
13
14
15
16
17
18
19
Car Dealers
Domestic Private Banking
Domestic Commercial Letters of Credit
Stand-by Letters of Credit
Customers/Accounts opened through the Internet, Mail, Wire
or Phone (non-branch)
Domestic Deposit Brokers
Travel Agencies
Broker Dealers
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
12
13
14
15
16
.......
.......
.......
.......
.......
17 .......
18 .......
19 .......
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data entry quick and efficient and
provides an electronic record for banks
and the OCC. The RSF collects data
about different products, services,
customers, and geographies (PSCs). The
OCC is introducing a few changes to the
2022 RSF to further improve the quality
of the collected data, streamline the
collection process and more accurately
reflect the risks associated with the
customers served by banks. For 2022,
the RSF will include three changes:
1. The addition of six new PSCs: cash
transactions, marijuana-related
businesses, ATM Operators, crypto
No.
20
21
22
23
24
.......
.......
.......
.......
.......
Domestic Remote Deposit Capture Customers
Third Party Senders
Issuance of Traveler’s Checks, Official Bank Checks &
Money Orders
Domestic Wire Transfers
Domestic PUPID Wire Transfers
ACH
Remotely Created Checks
Domestic Remote Deposit Capture
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
.......
Non-Resident Alien Accounts
Politically Exposed Persons
Foreign Off-Shore Corporations
Foreign Deposit Brokers
Foreign Charitable Organizations
Import/Export
Foreign Remote Deposit Capture Customers
Bulk Cash/Currency Repatriation Customers
International Branches
Foreign Correspondent Accounts
Payable Through Accounts
Pouch Services
Foreign Bank Affiliate
International Department
International Private Banking
Embassy & Consulate Banking
International Commercial Letters of Credit
International Bank Drafts
International Wire Transfers
International PUPID Wire Transfers
Remittance Products
Cross-Border ACH
International Remote Deposit Capture
Bulk Cash/Currency Repatriation
Domestic Casas de Cambio/Currency Exchange
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Frm 00131
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20
21
22
23
24
Sfmt 4703
New PSCs
Telemarketers
Remotely Created Check Customers
Domestic Remote Deposit Capture Customers
Third Party Senders
Issuance of Traveler’s Checks, Official Bank Checks &
Money Orders
Domestic Wire Transfers
Domestic PUPID Wire Transfers
ACH
Remotely Created Checks
Domestic Remote Deposit Capture
Non-Resident Alien Accounts
Politically Exposed Persons
Foreign Off-Shore Corporations
Foreign Deposit Brokers
Foreign Charitable Organizations
Import/Export
Foreign Remote Deposit Capture Customers
Foreign Correspondent Accounts
Payable Through Accounts
Pouch Services
Foreign Bank Affiliate
International Department
International Private Banking
Embassy & Consulate Banking
International Commercial Letters of Credit
International Bank Drafts
International Wire Transfers
International PUPID Wire Transfers
Remittance Products
Cross-Border ACH
E:\FR\FM\08SEN1.SGM
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Federal Register / Vol. 87, No. 173 / Thursday, September 8, 2022 / Notices
No.
50 .......
51 .......
52 .......
53 .......
54 .......
55 .......
56 .......
57 .......
58 .......
59 .......
60 .......
61 .......
62 .......
63 .......
64 .......
65 .......
66 .......
67 .......
68 .......
69 .......
............
............
Existing PSCs
No.
Foreign Casas de Cambio/Currency Exchange
Money Transmitters
Check Cashers
Issuers or Sellers of Traveler Checks or Money Orders
Providers of Prepaid Access
Sellers of Prepaid Access
Prepaid Cards
Prepaid Card Programs—Third Party Sponsored
Prepaid Card Programs—Bank Sponsored
Prepaid Cardholders
Prepaid Card Program Managers
Domestic Charitable Trusts & Foundations
Foreign Charitable Trusts & Foundations
Custodial Accounts
Investment Advisory Accounts
Revocable Trusts
Foreign Grantor or Beneficiaries
Loans to Closely Held Corporations
Brokerage Department/Operations
Investment Advisory/Management
50
51
52
53
54
55
56
57
58
59
60
61
62
63
64
65
66
67
68
69
70
71
55085
New PSCs
International Remote Deposit Capture
Domestic Casas de Cambio/Currency Exchange
Foreign Casas de Cambio/Currency Exchange
Money Transmitters
Check Cashers
Issuers or Sellers of Traveler Checks or Money Orders
Providers of Prepaid Access
Sellers of Prepaid Access
Prepaid Cards
Prepaid Card Programs—Third Party Sponsored
Prepaid Card Programs—Bank Sponsored
Prepaid Cardholders
Prepaid Card Program Managers
Domestic Charitable Trusts & Foundations
Foreign Charitable Trusts & Foundations
Custodial Accounts
Investment Advisory Accounts
Revocable Trusts
Foreign Grantor or Beneficiaries
Loans to Closely Held Corporations
Brokerage Department/Operations
Investment Advisory/Management
khammond on DSKJM1Z7X2PROD with NOTICES
* PSC category deletions (from the existing PSC column) and additions (from the new PSC column are italicized and denoted in bold.
The OCC estimates the burden of this
collection of information as follows:
Burden Estimates:
Community and trust bank
population:
Estimated Number of Respondents:
970.
Estimated Number of Responses: 970.
Frequency of Response: Annually.
Estimated Annual Burden: 7,760
hours.
Comments: On June 8, 2022, the OCC
published a 60-day notice in the Federal
Register concerning the collection, 87
FR 34927. The OCC received three
comments from the public, including
one from a banking association
regarding the accuracy of the OCC’s
information collection burden estimate
and the impact the changes in the PSCs
would have on the data collection
process. The respondent stated the OCC
did not provide a basis for its estimated
burden of 7,760 hours from an estimated
970 respondents. Per the respondent,
the changes proposed to the MLR would
require more than the eight hours per
respondent estimated by the OCC and
that the OCC had underestimated both
the staff time and financial resources
needed to update reporting systems to
reflect the proposed changes. The
respondent also commented that the
introduction of six new products,
services, customers, and geography
categories (PSCs) and the resulting
changes in the numbering and location
of these PSCs would unnecessarily
complicate the data collection process,
require significant staff retraining, and
potentially result in mis-categorizations
of the PSCs.
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18:19 Sep 07, 2022
Jkt 256001
The OCC has observed that the
systems most banks currently maintain
for MLR data collection purposes
already support ready access to the data;
thus, the changes to the MLR will not
require additional significant
investment in technology or systems to
collect and report this data. The 7,760
hours in the OCC’s estimated burden
already includes an additional two
hours to account for the two new MLR
PSCs. Based on these existing systems
and the changes to the MLR platform
described below, the addition of the two
hours should be sufficient to account for
any system changes banks may have to
make to collect and report the data for
the new PSCs. With planning and minor
programming changes to bank systems,
the additional MLR data collection
burden associated with the proposed
changes will be minimal for banks of all
sizes.
The introduction of the six new PSCs
and the resulting changes in the listing
numeration of the PSCs is a minor
modification and will not significantly
impact the data collection and reporting
process. Recently, the OCC made major
changes to the MLR platform that have
resulted in a more modern, intuitive,
and user-friendly collection tool. The
current data collection platform, and
support resources offered by the OCC,
will assist banks with the data
collection process. In addition, the OCC
offers annual webinars where any
changes to the data collection process
are presented and discussed with
bankers. During the webinars, bankers
are given time to ask questions or raise
PO 00000
Frm 00132
Fmt 4703
Sfmt 4703
any issues or concerns they may have
related to this information collection.
The changes to the MLR, introduced
this year, will be discussed in detail
during the 2022 MLR Webinar and give
bankers additional opportunities to
provide feedback. Moreover, each year,
the OCC releases an updated MLR User
Guide, complete with detailed
instructions for banks to report MLR
data. Finally, the OCC has a dedicated
MLR email inbox for bankers to submit
MLR-related questions and receive
timely assistance from the OCC.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’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. 2022–19375 Filed 9–7–22; 8:45 am]
BILLING CODE 4810–33–P
E:\FR\FM\08SEN1.SGM
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]]>Agencies
[Federal Register Volume 87, Number 173 (Thursday, September 8, 2022)]
[Notices]
[Pages 55083-55085]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-19375]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Office of the Comptroller of the Currency
Agency Information Collection Activities; Information Collection
Revision; Submission for OMB Review; Bank Secrecy Act/Money Laundering
Risk Assessment
AGENCY: Office of the Comptroller of the Currency (OCC), Treasury.
ACTION: Notice and request for comment.
-----------------------------------------------------------------------
SUMMARY: The OCC, as part of its continuing effort to reduce paperwork
and respondent burden, invites comment on a revised information
collection as required by the Paperwork Reduction Act of 1995 (PRA). In
accordance with the requirements of the PRA, the OCC may not conduct or
sponsor, and the respondent is not required to respond to, an
information collection unless it displays a currently valid Office of
Management and Budget (OMB) control number. The OCC is soliciting
comment concerning its information collection entitled, ``Bank Secrecy
Act/Money Laundering Risk Assessment,'' also known as the Money
Laundering Risk (MLR) System. The OCC also is giving notice that it has
sent the collection to OMB for review.
DATES: Comments must be submitted by October 11, 2022.
ADDRESSES: Commenters are encouraged to submit comments by email, if
possible. You may submit comments by any of the following methods:
Email: [email protected].
Mail: Chief Counsel's Office, Attention: Comment
Processing, 1557-0231, Office of the Comptroller of the Currency, 400
7th Street SW, Suite 3E-218, Washington, DC 20219.
Hand Delivery/Courier: 400 7th Street SW, Suite 3E-218,
Washington, DC 20219.
Fax: (571) 465-4326.
Instructions: You must include ``OCC'' as the agency name and
``1557-0231'' in your comment. In general, the OCC will publish
comments on www.reginfo.gov without change, including any business or
personal information provided, such as name and address information,
email addresses, or phone numbers. Comments received, including
attachments and other supporting materials, are part of the public
record and subject to public disclosure. Do not include any information
in your comment or supporting materials that you consider confidential
or inappropriate for public disclosure.
Written comments and recommendations for the proposed information
collection should also be sent within 30 days of publication of this
notice to www.reginfo.gov/public/do/PRAMain. You can find this
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
On June 8, 2022, the OCC published a 60-day notice for this
information collection (87 FR 34927). You may review comments and other
related materials that pertain to this information collection following
the close of the 30-day comment period for this notice by the method
set forth in the next bullet.
Viewing Comments Electronically: Go to www.reginfo.gov.
Hover over the ``Information Collection Review'' tab and click on
``Information Collection Review'' from the drop-down menu. From the
``Currently under Review'' drop-down menu, select ``Department of
Treasury'' and then click ``submit.'' This information collection can
be located by searching by OMB control number ``1557-0231'' or ``Bank
Secrecy Act/Money Laundering Risk Assessment.'' Upon finding the
appropriate information collection, click on the related ``ICR
Reference Number.'' On the next screen, select ``View Supporting
Statement and Other Documents'' and then click on the link to any
comment listed at the bottom of the screen.
For assistance in navigating www.reginfo.gov, please
contact the Regulatory Information Service Center at (202) 482-7340.
FOR FURTHER INFORMATION CONTACT: Shaquita Merritt, OCC Clearance
Officer, (202) 874-5090, Chief Counsel's Office, Office of the
Comptroller of the Currency, 400 7th Street SW, Washington, DC 20219.
If you are deaf, hard of hearing, or have a speech disability please
dial 7-1-1 to access telecommunications relay services.
SUPPLEMENTARY INFORMATION: Under the PRA, Federal agencies must obtain
approval from the OMB for each collection of information they conduct
or sponsor. ``Collection of information'' is defined in 44 U.S.C.
3502(3) and 5 CFR 1320.3(c) to include questions posed to agencies,
instrumentalities, or employees of the United States, if the results
are to be used for general statistical purposes, that is, if the
results are to be used for statistical compilations of general public
interest, including compilations showing the status or implementation
of Federal activities and programs. The OCC asks that OMB extend its
approval of the collection in this document.
Title: Bank Secrecy Act/Money Laundering Risk Assessment.
OMB Control No: 1557-0231.
Type of Review: Regular.
Affected Public: Business or other for-profit.
Abstract: The MLR System enhances the ability of examiners and bank
management to identify and evaluate Bank Secrecy Act/Money Laundering
and Office of Foreign Asset Control (OFAC) sanctions risks associated
with banks' products, services, customers, and locations. As new
products and services are introduced, existing products and services
change, and banks expand through mergers and acquisitions, banks'
evaluation of money laundering and terrorist financing risks should
evolve as well. Consequently, the MLR System risk assessment is an
important tool for the OCC's Bank Secrecy Act/Anti-Money Laundering and
OFAC supervision activities because it allows the OCC to better
identify those institutions, and business activities within
institutions, that may pose heightened risk and then allocate
examination resources accordingly. This risk assessment is critical for
protecting U.S. financial institutions of all sizes from potential
abuse from money laundering and terrorist financing. The MLR System
also provides the OCC with information regarding products or customers
that may be experiencing difficulties or
[[Page 55084]]
challenges maintaining banking services. MLR data assists banks'
management of BSA/AML programs and provides a starting point for banks
to develop their risk assessments. An appropriate risk assessment
allows controls to be effectively implemented for the lines of
business, products, or entities that would elevate Bank Secrecy Act/
Money Laundering and OFAC compliance risks.
The OCC collects MLR information for community and trust banks
supervised by the OCC.
The OCC's annual Risk Summary Form (RSF) is fully automated making
data entry quick and efficient and provides an electronic record for
banks and the OCC. The RSF collects data about different products,
services, customers, and geographies (PSCs). The OCC is introducing a
few changes to the 2022 RSF to further improve the quality of the
collected data, streamline the collection process and more accurately
reflect the risks associated with the customers served by banks. For
2022, the RSF will include three changes:
1. The addition of six new PSCs: cash transactions, marijuana-
related businesses, ATM Operators, crypto assets--custody, stablecoin
issuance, and stablecoin payments.
2. The addition of two new customer types under the money
transmitters category: administrators and exchangers of virtual
currency; and crypto ATM operators.
3. The deletion of four existing PSCs: boat/airplane, bulk cash/
currency repatriation customers, bulk cash/currency repatriation, and
international branches.
The addition of these six new PSC categories increases the number
of data collection points from 69 to 71 as shown in the table below:
----------------------------------------------------------------------------------------------------------------
No. Existing PSCs No. New PSCs
----------------------------------------------------------------------------------------------------------------
1............................. Convenience Stores 1 Cash Transactions
2............................. Liquor Stores 2 Marijuana Related Businesses
3............................. Domestic Charitable Organizations 3 ATM Operators
4............................. Jewelry, Gem and Precious Metals 4 Crypto-Assets Custody
Dealers
5............................. Casinos 5 Stablecoin Issuance
6............................. Car Dealers 6 Stablecoin Payments
7............................. Boat/Airplane 7 Convenience Stores
8............................. Domestic Private Banking 8 Liquor Stores
9............................. Domestic Commercial Letters of 9 Domestic Charitable Organizations
Credit
10............................ Stand-by Letters of Credit 10 Jewelry, Gem and Precious Metals
Dealers
11............................ Customers/Accounts opened through 11 Casinos
the Internet, Mail, Wire or Phone
(non-branch)
12............................ Domestic Deposit Brokers 12 Car Dealers
13............................ Travel Agencies 13 Domestic Private Banking
14............................ Broker Dealers 14 Domestic Commercial Letters of
Credit
15............................ Telemarketers 15 Stand-by Letters of Credit
16............................ Remotely Created Check Customers 16 Customers/Accounts opened through
the Internet, Mail, Wire or Phone
(non-branch)
17............................ Domestic Remote Deposit Capture 17 Domestic Deposit Brokers
Customers
18............................ Third Party Senders 18 Travel Agencies
19............................ Issuance of Traveler's Checks, 19 Broker Dealers
Official Bank Checks & Money
Orders
20............................ Domestic Wire Transfers 20 Telemarketers
21............................ Domestic PUPID Wire Transfers 21 Remotely Created Check Customers
22............................ ACH 22 Domestic Remote Deposit Capture
Customers
23............................ Remotely Created Checks 23 Third Party Senders
24............................ Domestic Remote Deposit Capture 24 Issuance of Traveler's Checks,
Official Bank Checks & Money
Orders
25............................ Non-Resident Alien Accounts 25 Domestic Wire Transfers
26............................ Politically Exposed Persons 26 Domestic PUPID Wire Transfers
27............................ Foreign Off-Shore Corporations 27 ACH
28............................ Foreign Deposit Brokers 28 Remotely Created Checks
29............................ Foreign Charitable Organizations 29 Domestic Remote Deposit Capture
30............................ Import/Export 30 Non-Resident Alien Accounts
31............................ Foreign Remote Deposit Capture 31 Politically Exposed Persons
Customers
32............................ Bulk Cash/Currency Repatriation 32 Foreign Off-Shore Corporations
Customers
33............................ International Branches 33 Foreign Deposit Brokers
34............................ Foreign Correspondent Accounts 34 Foreign Charitable Organizations
35............................ Payable Through Accounts 35 Import/Export
36............................ Pouch Services 36 Foreign Remote Deposit Capture
Customers
37............................ Foreign Bank Affiliate 37 Foreign Correspondent Accounts
38............................ International Department 38 Payable Through Accounts
39............................ International Private Banking 39 Pouch Services
40............................ Embassy & Consulate Banking 40 Foreign Bank Affiliate
41............................ International Commercial Letters of 41 International Department
Credit
42............................ International Bank Drafts 42 International Private Banking
43............................ International Wire Transfers 43 Embassy & Consulate Banking
44............................ International PUPID Wire Transfers 44 International Commercial Letters
of Credit
45............................ Remittance Products 45 International Bank Drafts
46............................ Cross-Border ACH 46 International Wire Transfers
47............................ International Remote Deposit 47 International PUPID Wire Transfers
Capture
48............................ Bulk Cash/Currency Repatriation 48 Remittance Products
49............................ Domestic Casas de Cambio/Currency 49 Cross-Border ACH
Exchange
[[Page 55085]]
50............................ Foreign Casas de Cambio/Currency 50 International Remote Deposit
Exchange Capture
51............................ Money Transmitters 51 Domestic Casas de Cambio/Currency
Exchange
52............................ Check Cashers 52 Foreign Casas de Cambio/Currency
Exchange
53............................ Issuers or Sellers of Traveler 53 Money Transmitters
Checks or Money Orders
54............................ Providers of Prepaid Access 54 Check Cashers
55............................ Sellers of Prepaid Access 55 Issuers or Sellers of Traveler
Checks or Money Orders
56............................ Prepaid Cards 56 Providers of Prepaid Access
57............................ Prepaid Card Programs--Third Party 57 Sellers of Prepaid Access
Sponsored
58............................ Prepaid Card Programs--Bank 58 Prepaid Cards
Sponsored
59............................ Prepaid Cardholders 59 Prepaid Card Programs--Third Party
Sponsored
60............................ Prepaid Card Program Managers 60 Prepaid Card Programs--Bank
Sponsored
61............................ Domestic Charitable Trusts & 61 Prepaid Cardholders
Foundations
62............................ Foreign Charitable Trusts & 62 Prepaid Card Program Managers
Foundations
63............................ Custodial Accounts 63 Domestic Charitable Trusts &
Foundations
64............................ Investment Advisory Accounts 64 Foreign Charitable Trusts &
Foundations
65............................ Revocable Trusts 65 Custodial Accounts
66............................ Foreign Grantor or Beneficiaries 66 Investment Advisory Accounts
67............................ Loans to Closely Held Corporations 67 Revocable Trusts
68............................ Brokerage Department/Operations 68 Foreign Grantor or Beneficiaries
69............................ Investment Advisory/Management 69 Loans to Closely Held Corporations
................................... 70 Brokerage Department/Operations
................................... 71 Investment Advisory/Management
----------------------------------------------------------------------------------------------------------------
* PSC category deletions (from the existing PSC column) and additions (from the new PSC column are italicized
and denoted in bold.
The OCC estimates the burden of this collection of information as
follows:
Burden Estimates:
Community and trust bank population:
Estimated Number of Respondents: 970.
Estimated Number of Responses: 970.
Frequency of Response: Annually.
Estimated Annual Burden: 7,760 hours.
Comments: On June 8, 2022, the OCC published a 60-day notice in the
Federal Register concerning the collection, 87 FR 34927. The OCC
received three comments from the public, including one from a banking
association regarding the accuracy of the OCC's information collection
burden estimate and the impact the changes in the PSCs would have on
the data collection process. The respondent stated the OCC did not
provide a basis for its estimated burden of 7,760 hours from an
estimated 970 respondents. Per the respondent, the changes proposed to
the MLR would require more than the eight hours per respondent
estimated by the OCC and that the OCC had underestimated both the staff
time and financial resources needed to update reporting systems to
reflect the proposed changes. The respondent also commented that the
introduction of six new products, services, customers, and geography
categories (PSCs) and the resulting changes in the numbering and
location of these PSCs would unnecessarily complicate the data
collection process, require significant staff retraining, and
potentially result in mis-categorizations of the PSCs.
The OCC has observed that the systems most banks currently maintain
for MLR data collection purposes already support ready access to the
data; thus, the changes to the MLR will not require additional
significant investment in technology or systems to collect and report
this data. The 7,760 hours in the OCC's estimated burden already
includes an additional two hours to account for the two new MLR PSCs.
Based on these existing systems and the changes to the MLR platform
described below, the addition of the two hours should be sufficient to
account for any system changes banks may have to make to collect and
report the data for the new PSCs. With planning and minor programming
changes to bank systems, the additional MLR data collection burden
associated with the proposed changes will be minimal for banks of all
sizes.
The introduction of the six new PSCs and the resulting changes in
the listing numeration of the PSCs is a minor modification and will not
significantly impact the data collection and reporting process.
Recently, the OCC made major changes to the MLR platform that have
resulted in a more modern, intuitive, and user-friendly collection
tool. The current data collection platform, and support resources
offered by the OCC, will assist banks with the data collection process.
In addition, the OCC offers annual webinars where any changes to the
data collection process are presented and discussed with bankers.
During the webinars, bankers are given time to ask questions or raise
any issues or concerns they may have related to this information
collection. The changes to the MLR, introduced this year, will be
discussed in detail during the 2022 MLR Webinar and give bankers
additional opportunities to provide feedback. Moreover, each year, the
OCC releases an updated MLR User Guide, complete with detailed
instructions for banks to report MLR data. Finally, the OCC has a
dedicated MLR email inbox for bankers to submit MLR-related questions
and receive timely assistance from the OCC.
Comments continue to be invited on:
(a) Whether the collection of information is necessary for the
proper performance of the functions of the OCC, including whether the
information has practical utility;
(b) The accuracy of the OCC'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. 2022-19375 Filed 9-7-22; 8:45 am]
BILLING CODE 4810-33-P
