### 42491 Federal Register / Vol. 79, No. 140 / Tuesday, July 22, 2014 / Proposed Rules

of information is necessary for the proper performance of the mission of FinCEN, including whether the information would have practical utility; (b) the accuracy of FinCEN’s estimate of the burden of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information required to be maintained; (d) ways to minimize the burden of the required collection of information, 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 report the information.

An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid OMB control number.

VII. Executive Order 12866

Executive Orders 12866 and 13563 direct agencies to assess costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits (including potential economic, environmental, public health and safety effects, distributive impacts, and equity). Executive Order 13563 emphasizes the importance of quantifying both costs and benefits, of reducing costs, of harmonizing rules, and of promoting flexibility. It has been determined that the proposed rule is not a ‘‘significant regulatory action’’ for purposes of Executive Order 12866. List of Subjects in 31 CFR Part 1010

Administrative practice and procedure, banks and banking, brokers,counter-money laundering, counterterrorism, foreign banking. Authority and Issuance

For the reasons set forth in the preamble, part 1010, chapter X of title 31 of the Code of Federal Regulations, is proposed to be amended as follows:

1. The authority citation for part 1010 is revised to read as follows:

Authority: 12 U.S.C. 1829b and 1951–1959; 31 U.S.C. 5311–5314, 5316–5332 Title III, secs. 311, 312, 313, 314, 319, 326, 352, Pub. L. 107–56, 115 Stat. 307.

■ 2. Add § 1010.661 to read as follows:

**§ 1010.661 Special measures against FBME Bank Ltd.** 

(a) Definitions. For purposes of this section:

(1) FBME Bank Ltd. means all branches, offices, and subsidiaries of FBME Bank Ltd. operating in any jurisdiction.

(2) Correspondent account has the same meaning as provided in § 1010.605(c)(1)(ii).

(3) Covered financial institution has the same meaning as provided in § 1010.605(e)(1).

(4) Subsidiary means a company of which more than 50 percent of the voting stock or analogous equity interest is owned by another company.

(b) Prohibition on accounts and due diligence requirements for covered financial institutions—(1) Prohibition on use of correspondent accounts. A covered financial institution shall terminate any correspondent account that is established, maintained, administered, or managed in the United States for, or on behalf of, FBME Bank Ltd.

(2) Special due diligence of correspondent accounts to prohibit use. (i) A covered financial institution shall apply special due diligence to its foreign correspondent accounts that is reasonably designed to guard against their use to process transactions involving FBME Bank Ltd. At a minimum, that special due diligence must include:

(A) Notifying those foreign correspondent account holders that the covered financial institution knows or has reason to know provide services to FBME Bank Ltd. that such correspondents may not provide FBME Bank Ltd. with access to the correspondent account maintained at the covered financial institution; and

(B) Taking reasonable steps to identify any use of its foreign correspondent accounts by FBME Bank Ltd., to the extent that such use can be determined from transactional records maintained in the covered financial institution’s normal course of business.

(ii) A covered financial institution shall take a risk-based approach when deciding what, if any, other due diligence measures it reasonably must adopt to guard against the use of its foreign correspondent accounts to process transactions involving FBME Bank Ltd.

(iii) A covered financial institution that obtains knowledge that a foreign correspondent account may be being used to process transactions involving FBME Bank Ltd. shall take all appropriate steps to further investigate and prevent such access, including the notification of its correspondent account holder under paragraph (b)(2)(i)(A) and, where necessary, termination of the correspondent account.

(3) Recordkeeping and reporting. (i) A covered financial institution is required to document its compliance with the notice requirement set forth in paragraph (b)(2)(i)(A) of this section.

(ii) Nothing in this paragraph (b) shall require a covered financial institution to report any information not otherwise required to be reported by law or regulation.

Dated: July 15, 2014. Jennifer Shasky Calvery, Director, Financial Crimes Enforcement Network.
[FR Doc. 2014–17172 Filed 7–21–14; 8:45 am]

**BILLING CODE 4810–02–P**

**DEPARTMENT OF DEFENSE**

**Defense Acquisition Regulations System** 

**48 CFR Parts 215, 242, and 252**

**RIN 0750–AI20**

**Defense Federal Acquisition Regulation Supplement; Business**  **Systems Compliance (DFARS Case 2012–D042)** 

**AGENCY :**  Defense Acquisition Regulations System, Department of Defense (DoD).

**ACTION :**  Proposed rule; correction.

**SUMMARY :**  This document corrects the preamble to a proposed rule published in the Federal Register on July 15, 2014, regarding Business Systems Compliance. This correction revises the time scheduled for the public meeting to be held on August 18, 2014. There are no other changes.

**FOR FURTHER INFORMATION CONTACT :**  Mr. Mark Gomersall, telephone 571–372–
6099.

Correction

In the proposed rule published at 79 FR 41172, dated July 15, 2014, make the following correction to the Public Meeting Date section.

Public Meeting Date: The public meeting will be held at the Mark Center Auditorium, 4800 Mark Center Drive, Alexandria, VA 22350–3603, on August 18, 2014, from 2 p.m. to 5 p.m., local time.

Amy G. Williams, Deputy, Defense Acquisition Regulations System.
[FR Doc. 2014–17216 Filed 7–21–14; 8:45 am]

**BILLING CODE 5001–06–P**