Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 89489 

SUPPLEMENTARY INFORMATION: The RERC 

was established to advise TVA on its 

energy resource activities and the 

priorities among competing objectives 

and values. The RRSC was established 

to advise TVA on its natural resource 

and stewardship activities, and the 

priorities among competing objectives 

and values. The RRSC and RERC are 

discretionary advisory committees 

established under the authority of the 

Tennessee Valley Authority (TVA) in 

accordance with the provisions of the 

Federal Advisory Committee Act 

(FACA), as amended, 5 U.S.C. 10. 

The meeting agenda includes the 

following: 

January 18 

1. Welcome and Introductions

2. TVA Leadership Update

3. Valley Pathways Study presentation

4. Review and discuss Advice Questions

5. Public Listening Session

6. Finalize Advice Statements

The DFO of the Tennessee Valley

Authority and Vice President of 

External Strategy and Regulatory 

Oversight, Melanie Farrell, having 

review and approved this document, is 

delegating the authority to sign this 

document to Bekim Haliti, Specialist of 

Valley Alliances for publication in the 

Federal Register. 

Dated: December 18, 2023. 

Bekim Haliti, 

Specialist, Valley Alliances, Tennessee Valley 

Authority. 

[FR Doc. 2023–28534 Filed 12–26–23; 8:45 am] 

BILLING CODE 8120–08–P 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

FEDERAL RESERVE SYSTEM 

FEDERAL DEPOSIT INSURANCE 

CORPORATION 

Proposed Agency Information 

Collection Activities; Comment 

Request 

AGENCY: Office of the Comptroller of the 

Currency (OCC), Treasury; Board of 

Governors of the Federal Reserve 

System (Board); and Federal Deposit 

Insurance Corporation (FDIC). 

ACTION: Joint notice and request for 

comment. 

SUMMARY: In accordance with the 

requirements of the Paperwork 

Reduction Act of 1995 (PRA), the OCC, 

the Board, and the FDIC (the agencies) 

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 Federal Financial 

Institutions Examination Council 

(FFIEC), of which the agencies are 

members, has approved the agencies’ 

publication for public comment of a 

proposal to revise and extend for three 

years the Consolidated Reports of 

Condition and Income (Call Reports) 

(FFIEC 031, FFIEC 041, and FFIEC 051), 

which are currently approved 

collections of information. The FFIEC 

has also approved the Board’s 

publication for public comment, on 

behalf of the agencies, of a proposal to 

revise and extend for three years the 

Report of Assets and Liabilities of U.S. 

Branches and Agencies of Foreign Banks 

(FFIEC 002), and the Report of Assets 

and Liabilities of a Non-U.S. Branch that 

is Managed or Controlled by a U.S. 

Branch or Agency of a Foreign (NonU.S.) Bank (FFIEC 002S), which are also

currently approved collections of 

information. The agencies are requesting 

comment on proposed revisions to the 

Call Report forms and instructions, and 

the FFIEC 002, as applicable, that 

include the revision and addition of 

certain new data items related to the 

reporting on loans to nondepository 

financial institutions (NDFIs) and other 

loans, guaranteed structured financial 

products, and proposed long-term debt 

requirements. In addition, the agencies 

are seeking comment on a proposal to 

adopt ongoing standards for electronic 

signatures to comply with the Call 

Report signature and attestation 

requirement. The revisions are proposed 

to take effect with the June 30, 2024, 

report date, except for those related to 

the proposed long-term debt 

requirements which would take effect 

for the first report date at or following 

the effective date of any final rule. 

DATES: Comments must be submitted on 

or before February 26, 2024. 

ADDRESSES: Interested parties are 

invited to submit written comments to 

any or all of the agencies. All comments 

will be shared among the agencies. 

OCC: You may submit comments, 

which should refer to ‘‘Call Report and 

FFIEC 002 Revisions,’’ by any of the 

following methods: 

• Email: prainfo@occ.treas.gov.

• Mail: Chief Counsel’s Office, Office

of the Comptroller of the Currency, 

Attention: 1557–0081, 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) 293–4835.

Instructions: You must include

‘‘OCC’’ as the agency name and ‘‘1557– 

0081’’ 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. 

You may review comments and other 

related materials that pertain to this 

information collection beginning on the 

date of publication of the second notice 

for this collection by the following 

method: 

• 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 OMB control number ‘‘1557– 

0081.’’ 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. 

Board: You may submit comments, 

which should refer to ‘‘Call Report and 

FFIEC 002 Revisions,’’ by any of the 

following methods: 

• Agency Website: http://

www.federalreserve.gov. Follow the 

instructions for submitting comments at: 

http://www.federalreserve.gov/ 

generalinfo/foia/ProposedRegs.cfm. 

• Email: regs.comments@

federalreserve.gov. Include ‘‘Call Report 

and FFIEC 002 Revisions’’ in the subject 

line of the message. 

• Fax: (202) 395–6974.

• Mail: Ann E. Misback, Secretary,

Board of Governors of the Federal 

Reserve System, 20th Street and 

Constitution Avenue NW, Washington, 

DC 20551. 

All public comments are available on 

the Board’s website at https://

www.federalreserve.gov/apps/foia/ 

proposedregs.aspx as submitted, unless 

modified for technical reasons. 


ddrumheller on DSK120RN23PROD with NOTICES1
89490 Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 

1www.ffiec.gov/forms031.htm; www.ffiec.gov/ 

forms041.htm; www.ffiec.gov/forms051.htm. 

Accordingly, your comments will not be 

edited to remove any identifying or 

contact information. 

FDIC: You may submit comments, 

which should refer to ‘‘Call Report and 

FFIEC 002 Revisions,’’ by any of the 

following methods: 

• Agency Website: https://

www.fdic.gov/resources/regulations/ 

federal-register-publications/. Follow 

the instructions for submitting 

comments on the FDIC’s website. 

• Email: comments@FDIC.gov.

Include ‘‘Call Report and FFIEC 002 

Revisions’’ in the subject line of the 

message. 

• Mail: Manuel E. Cabeza, Counsel,

Attn: Comments, Room MB–3128, 

Federal Deposit Insurance Corporation, 

550 17th Street NW, Washington, DC 

20429. 

• Hand Delivery: Comments may be

hand-delivered to the guard station at 

the rear of the 550 17th Street NW 

building (located on F Street NW) on 

business days between 7 a.m. and 5 p.m. 

• Public Inspection: All comments

received, including any personal 

information provided, will be posted 

without change to https://www.fdic.gov/ 

resources/regulations/federal-registerpublications/. Commenters should 

submit only information that the 

commenter wishes to make available 

publicly. The FDIC may review, redact, 

or refrain from posting all or any portion 

of any comment that it may deem to be 

inappropriate for publication, such as 

irrelevant or obscene material. The FDIC 

may post only a single representative 

example of identical or substantially 

identical comments, and in such cases 

will generally identify the number of 

identical or substantially identical 

comments represented by the posted 

example. All comments that have been 

redacted, as well as those that have not 

been posted, that contain comments on 

the merits of this document will be 

retained in the public comment file and 

will be considered as required under all 

applicable laws. All comments may be 

accessible under the Freedom of 

Information Act. 

Additionally, commenters may send a 

copy of their comments to the OMB 

desk officer for the agencies by mail to 

the Office of Information and Regulatory 

Affairs, U.S. Office of Management and 

Budget, New Executive Office Building, 

Room 10235, 725 17th Street NW, 

Washington, DC 20503; by fax to (202) 

395–6974; or by email to oira_

submission@omb.eop.gov. 

FOR FURTHER INFORMATION CONTACT: For 

further information about the proposed 

revisions to the information collections 

discussed in this notice, please contact 

any of the agency staff whose names 

appear below. In addition, copies of the 

report forms for the Call Reports and the 

FFIEC 002 can be obtained at the 

FFIEC’s website (https://www.ffiec.gov/ 

ffiec_report_forms.htm). 

OCC: Kevin Korzeniewski, Counsel, 

Chief Counsel’s Office, (202) 649–5490. 

If you are deaf, hard of hearing, or have 

a speech disability, please dial 7–1–1 to 

access telecommunications relay 

services. 

Board: Nuha Elmaghrabi, Federal 

Reserve Board Clearance Officer, (202) 

452–3884, Office of the Chief Data 

Officer, Board of Governors of the 

Federal Reserve System, 20th and C 

Streets NW, Washington, DC 20551. 

Telecommunications Device for the Deaf 

(TDD) users may call (202) 263–4869. 

FDIC: Manuel E. Cabeza, Counsel, 

(202) 898–3767, Legal Division, Federal

Deposit Insurance Corporation, 550 17th

Street NW, Washington, DC 20429.

SUPPLEMENTARY INFORMATION:

I. Affected Reports

The proposed changes discussed

below affect the Call Reports and the 

FFIEC 002. 

A. Call Report

The agencies propose to extend for

three years, with revision, their 

information collections associated with 

the FFIEC 031, FFIEC 041, and FFIEC 

051 Call Reports. 

Report Title: Consolidated Reports of 

Condition and Income (Call Report). 

Form Number: FFIEC 031 

(Consolidated Reports of Condition and 

Income for a Bank with Domestic and 

Foreign Offices), FFIEC 041 

(Consolidated Reports of Condition and 

Income for a Bank with Domestic 

Offices Only), and FFIEC 051 

(Consolidated Reports of Condition and 

Income for a Bank with Domestic 

Offices Only and Total Assets Less Than 

$5 Billion). 

Frequency of Response: Quarterly. 

Affected Public: Business or other forprofit. 

Type of Review: Revision and 

extension of currently approved 

collections. 

OCC 

OMB Control No.: 1557–0081. 

Estimated Number of Respondents: 

1,014 national banks and federal savings 

associations. 

Estimated Average Burden per 

Response: 40.85 burden hours per 

quarter to file. 

Estimated Total Annual Burden: 

165,688 burden hours to file. 

Board 

OMB Control No.: 7100–0036. 

Estimated Number of Respondents: 

708 state member banks. 

Estimated Average Burden per 

Response: 44.33 burden hours per 

quarter to file. 

Estimated Total Annual Burden: 

125,543 burden hours to file. 

FDIC 

OMB Control No.: 3064–0052. 

Estimated Number of Respondents: 

2,975 insured state nonmember banks 

and state savings associations. 

Estimated Average Burden per 

Response: 38.94 burden hours per 

quarter to file. 

Estimated Total Annual Burden: 

463,386 burden hours to file. 

The estimated average burden hours 

collectively reflect the estimates for the 

FFIEC 031, the FFIEC 041, and the 

FFIEC 051 reports for each agency. 

When the estimates are calculated by 

type of report across the agencies, the 

estimated average burden hours per 

quarter are 85.88 (FFIEC 031), 54.79 

(FFIEC 041), and 34.49 (FFIEC 051). The 

changes to the Call Report forms and 

instructions proposed in this notice 

would result in an estimated increase in 

burden hours per quarter for the FFIEC 

031 of 1.35 hours, FFIEC 041 of 0.19 

hours, and FFIEC 051 of 0.08 hours. The 

estimated burden per response for the 

quarterly filings of the Call Report is an 

average that varies by agency because of 

differences in the composition of the 

institutions under each agency’s 

supervision (e.g., size distribution of 

institutions, types of activities in which 

they are engaged, and existence of 

foreign offices). 

Type of Review: Extension and 

revision of currently approved 

collections. In addition to the proposed 

revisions discussed below, Call Reports 

are periodically updated to clarify 

instructional guidance and correct 

grammatical and typographical errors on 

the forms and instructions, which are 

published on the FFIEC website.1 These 

non-substantive updates may also be 

commented upon. 

Legal Basis and Need for Collections 

The Call Report information 

collections are mandatory: 12 U.S.C. 161 

(national banks), 12 U.S.C. 324 (state 

member banks), 12 U.S.C. 1817 (insured 

state nonmember commercial and 

savings banks), and 12 U.S.C. 1464 

(federal and state savings associations). 

At present, except for selected data 

items and text, these information 

collections are not given confidential 

treatment. 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 89491 

Banks and savings associations 

submit Call Report data to the agencies 

each quarter for the agencies’ use in 

monitoring the condition, performance, 

and risk profile of individual 

institutions and the industry as a whole. 

Call Report data serve a regulatory or 

public policy purpose by assisting the 

agencies in fulfilling their shared 

missions of ensuring the safety and 

soundness of financial institutions and 

the financial system and protecting 

consumer financial rights, as well as 

agency-specific missions affecting 

federal and state-chartered institutions, 

such as conducting monetary policy, 

ensuring financial stability, and 

administering federal deposit insurance. 

Call Reports are the source of the most 

current statistical data available for 

identifying areas of focus for on-site and 

off-site examinations. Among other 

purposes, the agencies use Call Report 

data in evaluating institutions’ corporate 

applications, including interstate merger 

and acquisition applications for which 

the agencies are required by law to 

determine whether the resulting 

institution would control more than 10 

percent of the total amount of deposits 

of insured depository institutions in the 

United States. Call Report data also are 

used to calculate the risk-based 

assessments for insured depository 

institutions. 

B. FFIEC 002 and 002S 

The Board proposes to extend for 

three years, with revision, the FFIEC 

002 and FFIEC 002S reports. 

Report Titles: Report of Assets and 

Liabilities of U.S. Branches and 

Agencies of Foreign Banks; Report of 

Assets and Liabilities of a Non-U.S. 

Branch that is Managed or Controlled by 

a U.S. Branch or Agency of a Foreign 

(Non-U.S.) Bank. 

Form Numbers: FFIEC 002; FFIEC 

002S. 

OMB Control Number: 7100–0032. 

Frequency of Response: Quarterly. 

Affected Public: Business or other forprofit. 

Respondents: All state-chartered or 

federally-licensed U.S. branches and 

agencies of foreign banking 

organizations, and all non-U.S. branches 

managed or controlled by a U.S. branch 

or agency of a foreign banking 

organization. 

Estimated Number of Respondents: 

FFIEC 002—183; FFIEC 002S—18. 

Estimated Average Burden per 

Response: FFIEC 002—24.67 hours; 

FFIEC 002S—6.0 hours. 

Estimated Total Annual Burden: 

FFIEC 002—18,058 hours; FFIEC 002S— 

432 hours. 

Type of Review: Extension and 

revision of currently approved 

collections. 

The proposed revisions to the FFIEC 

002 instructions in this notice would 

not have a material impact on the 

existing burden estimates. 

Legal Basis and Need for Collection 

On a quarterly basis, all U.S. branches 

and agencies of foreign banks are 

required to file the FFIEC 002, which is 

a detailed report of condition with a 

variety of supporting schedules. This 

information is used to fulfill the 

supervisory and regulatory requirements 

of the International Banking Act of 

1978. The data also are used to augment 

the bank credit, loan, and deposit 

information needed for monetary policy 

and other public policy purposes. In 

addition, FFIEC 002 data are used to 

calculate the risk-based assessments for 

FDIC-insured U.S. branches of foreign 

banks. The FFIEC 002S is a supplement 

to the FFIEC 002 that collects 

information on assets and liabilities of 

any non-U.S. branch that is managed or 

controlled by a U.S. branch or agency of 

the foreign bank. A non-U.S. branch is 

managed or controlled by a U.S. branch 

or agency if a majority of the 

responsibility for business decisions, 

including but not limited to decisions 

with regard to lending or asset 

management or funding or liability 

management, or the responsibility for 

recordkeeping in respect of assets or 

liabilities for that foreign branch resides 

at the U.S. branch or agency. A separate 

FFIEC 002S must be completed for each 

managed or controlled non-U.S. branch. 

The FFIEC 002S must be filed quarterly 

along with the U.S. branch or agency’s 

FFIEC 002. 

These information collections are 

mandatory (12 U.S.C. 1817(a)(1) and (3), 

3102(b), and 3105(c)(2)). Except for 

select sensitive items, the FFIEC 002 is 

not given confidential treatment; the 

FFIEC 002S is given confidential 

treatment (5 U.S.C. 552(b)(4) and (8)). 

The data from both reports are used for 

(1) monitoring deposit and credit 

transactions of U.S. residents; (2) 

monitoring the impact of policy 

changes; (3) analyzing structural issues 

concerning foreign bank activity in U.S. 

markets; (4) understanding flows of 

banking funds and indebtedness of 

developing countries in connection with 

data collected by the International 

Monetary Fund and the Bank for 

International Settlements that are used 

in economic analysis; and (5) assisting 

in the supervision of U.S. offices of 

foreign banks. The Federal Reserve 

System collects and processes these 

reports on behalf of all three agencies. 

II. Current Actions 

A. Loans to Nondepository Financial 

Institutions 

1. Background 

Loans to NDFIs have increasingly 

played an essential role in the financial 

system. NDFIs include a wide range of 

counterparties including insurance 

companies, mortgage companies, private 

equity funds, hedge funds, brokerdealers, real estate investment trusts 

(REITs), marketplace lenders, special 

purpose entities, and other financial 

vehicles. Currently, data on loans to 

NDFIs is collected on Schedule RC–C, 

Part I, Loans and Leases, item 9.a. 

‘‘Loans to nondepository financial 

institutions.’’ 

Since this item was added in 2010, 

institutions have increased direct 

lending exposure to NDFIs. In March 

2010, loans to NDFIs reported in this 

item totaled approximately $56 billion 

and represented only 0.8 percent of 

gross loans reported by respondents. 

However, in June 2023, the reported 

amount of loans to NDFIs increased 

significantly to almost $786 billion and 

represented 6.4 percent of respondents’ 

total loan exposure. Notwithstanding 

this increase in NDFI credit risk, current 

Call Report forms and instructions do 

not provide granularity on specific NDFI 

exposure, such as direct and off-balance 

sheet exposure, data on NDFI exposure 

in non-domestic offices, or NDFI loan 

performance data (e.g., nonaccrual and 

past due status). Further, the agencies 

have observed inconsistency in NDFI 

exposure reporting among industry 

filers. 

2. Call Report Proposed Revisions 

The agencies are proposing to update 

the Call Report forms and instructions 

to increase the granularity in reporting 

exposure to NDFIs and to improve 

reporting consistency. These proposed 

revisions would enhance the 

understanding of NDFI exposure, risks, 

and performance trends. The revisions 

would group together loan exposures 

that exhibit similar underlying risk 

characteristics while addressing the 

diversity in practice on the reporting of 

these loans that exists today. In 

addition, the proposed granular 

reporting would allow for more accurate 

analysis of bank financial statements for 

applicable institutions and performance 

metrics. These revisions and 

clarifications are proposed to be 

effective as of the June 30, 2024, report 

date. 

The specific proposed revisions and 

clarifications impacting the three report 

forms are as follows: 


ddrumheller on DSK120RN23PROD with NOTICES1
89492 Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 

2 85 FR 10644 (February 21, 2023). 

Schedule RC–C, Part I, Loans and Leases 

D For all three Call Reports, to ensure 

consistent reporting on loans to NDFIs, 

the instructions for item 9.a, ‘‘Loans to 

nondepository financial institutions’’ 

would be updated to include additional 

detail on the types of loans that should 

be reported in this line item. In 

addition, the instructions would be 

revised to include in the amounts 

reported in this item all loans to brokers 

and dealers in securities and loans to 

investment firms and mutual funds. 

These loans were previously included 

in item 9.b (FFIEC 051) or in item 9.b.(1) 

(FFIEC 031 and FFIEC 041), as noted 

below. 

D On the FFIEC 051, item 9.b, ‘‘Other 

loans,’’ and on the FFIEC 031 and FFIEC 

041, item 9.b.(1), ‘‘Loans for purchasing 

or carrying securities (secured and 

unsecured),’’ the instructions would be 

revised to exclude from the amounts 

reported in this item all loans to brokers 

and dealers in securities and loans to 

investment firms and mutual funds. 

These loans would be reported under 

the new NDFI definition in item 9.a, 

‘‘Loans to nondepository financial 

institutions.’’ 

D On the FFIEC 051, item 9.b, ‘‘Other 

loans,’’ and on the FFIEC 031 and FFIEC 

041 reports, item 9.b.(1), ‘‘Loans for 

purchasing or carrying securities 

(secured and unsecured),’’ the 

instructions would also be revised to 

include in the amounts reported in this 

item all margin loans, including 

securities-based loans and non-purpose 

margin loans. In addition, this item 

description on the FFIEC 031 and FFIEC 

041 report forms would be revised to 

‘‘Loans for purchasing or carrying 

securities, including margin loans.’’ 

D For the FFIEC 031 and FFIEC 041, 

Memorandum item 10 (currently ‘‘not 

applicable’’) would be renamed ‘‘Loans 

to nondepository financial institutions’’ 

and would include the following 

subitems, as defined in the instructions 

for Schedule RC–C, Part I, item 9.a, to 

capture direct lending exposures to 

NDFIs: 10.a, ‘‘Loans to mortgage credit 

intermediaries;’’ 10.b, ‘‘Loans to 

business credit intermediaries;’’ 10.c, 

‘‘Loans to private equity funds;’’ 10.d, 

‘‘Loans to consumer credit 

intermediaries;’’ and 10.e, ‘‘Other loans 

to nondepository financial institutions.’’ 

The sum of subitems 10.a through 10.e 

would equal Schedule RC–C, Part I, 

item 9.a. These items would only be 

collected from institutions with $10 

billion or more in total assets. 

D For the FFIEC 031 only, item 9, 

‘‘Loans to nondepository financial 

institutions and other loans,’’ additional 

subitems 9.a, 9.b.1, and 9.b.2 (Column 

A) would be added to collect data at the 

consolidated bank level that would be 

in addition to the exposure currently 

captured for those items in domestic 

offices only (Column B). In addition, 

item 9, ‘‘Loans to nondepository 

financial institutions and other loans,’’ 

column A, would no longer be reported 

as an aggregate amount. 

Schedule RC–L, ‘‘Derivatives and OffBalance Sheet Items’’ 

D For all three report forms, the 

subitems for item 1.e, ‘‘Other unused 

commitments’’ would be revised to 

include the collection of data on both 

depository financial institutions and 

NDFIs. Specifically, subitem 1.e.(2), 

‘‘Loans to financial institutions’’ would 

be changed to ‘‘Loans to depository 

financial institutions.’’ Subitem 1.e.(3), 

would be renamed ‘‘Loans to 

nondepository financial institutions’’ 

and would collect data on unused 

commitments for loans to nondepository 

financial institutions. The existing 

subitem 1.e.(3), ‘‘All other unused 

commitments,’’ would be renumbered to 

item 1.e.(4). 

D For the FFIEC 031 and FFIEC 041, 

item 1.e.(3), ‘‘Loans to nondepository 

financial institutions,’’ would include 

five subitems with the same five 

categories as the new subitems listed for 

Schedule RC–C, Part I, Memorandum 

item 10 above. The sum of these 

subitems 1.e.(3)(a) through 1.e.(3)(e) 

would equal the amount reported in 

Schedule RC–L, item 1.e.(3). These 

items would only be collected from 

institutions with $10 billion or more in 

total assets. 

Schedule RC–N, ‘‘Past Due and 

Nonaccrual Loans, Leases, and Other 

Assets’’ 

D For the FFIEC 041 and the FFIEC 

051, Memorandum item 9 would be 

renamed, ‘‘Loans to nondepository 

financial institutions included in 

Schedule RC–N, item 7’’ and would 

capture past due and nonaccrual 

information for NDFIs in columns A 

through C. 

D For the FFIEC 031 only, 

Memorandum item 9, would also be 

renamed, ‘‘Loans to nondepository 

financial institutions included in 

Schedule RC–N, item 7’’ to capture past 

due and nonaccrual information for 

NDFIs. However, institutions would 

report amounts in Memorandum item 

9.a, ‘‘To U.S. nondepository financial 

institutions’’ and Memorandum item 

9.b, ‘‘To foreign nondepository 

institutions’’ in columns A through C. 

Question 1: Is the granularity of the 

proposed subcategories appropriate or 

are there additional or fewer 

subcategories that should be 

considered? 

3. FFIEC 002 Proposed Revisions 

The Board’s proposed revisions to the 

FFIEC 002 are intended to align with 

similar changes proposed to the Call 

Report, Schedule RC–C, Part I, as 

applicable, and discussed in the prior 

section. 

Schedule C, ‘‘Loans’’ 

D The instructions for item 3, ‘‘Loans 

to other financial institutions’’ would be 

updated to include additional detail on 

the types of loans that should be 

reported in this line item. In addition, 

the instructions would be revised to 

include all loans to brokers and dealers 

in securities and loans to investment 

firms and mutual funds in the amounts 

reported in this item. These loans were 

previously included in item 7, below. 

D The instructions for item 7, ‘‘Loans 

for purchasing or carrying securities 

(secured and unsecured)’’ would be 

revised to exclude from the amounts 

reported in this item all loans to brokers 

and dealers in securities and loans to 

investment firms and mutual funds. 

These loans would be reported under 

the new NDFI definition in item 3, 

‘‘Loans to other financial institutions.’’ 

D The instructions for item 7, ‘‘Loans 

for purchasing or carrying securities 

(secured and unsecured)’’ would also be 

revised to include in the amounts 

reported in this item all margin loans, 

including securities-based loans and 

non-purpose margin loans. In addition, 

this item description on the report form 

would be revised to ‘‘Loans for 

purchasing or carrying securities, 

including margin loans.’’ 

The Board is proposing to align the 

effective date for these revisions on 

Schedule C of the FFIEC 002 with the 

revised Call Report items, described 

above. 

B. Reporting on Guaranteed Structured 

Financial Products 

In February 2023, a proposal for 

revisions to the Call Reports 2 included 

a question on the reporting of certain 

Federal Home Loan Mortgage 

Corporation and similar securitization 

structures that have government 

guarantees on Schedule RC–B, 

Securities. The agencies sought 

comment on the reporting of these types 

of structured financial products 

including those issued or guaranteed by 

U.S. government or government 

sponsored agencies. 

The agencies received two comments 

on this topic. One comment opposed 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 89493 

3 88 FR 38592 (June 13, 2023). 

4 88 FR 64524 (September 19, 2023). 

5 12 U.S.C. 161(a) (national banks) and 1817(a)(3) 

(all insured depository institutions). 

6Call Report Supplemental Instructions for 

March 2020, available at: https://www.ffiec.gov/pdf/ 

FFIEC_forms/FFIEC031_FFIEC041_FFIEC051_

suppinst_202003.pdf. 

7 In this context, ‘‘attached to’’ means ‘‘logically 

associated with.’’ 

8See ‘‘Use of Electronic Signatures in Federal 

Organization Transactions,’’ available at: https://

assets.cio.gov/assets/files/resources/Use_of_

ESignatures_in_Federal_Agency_Transactions_v1- 

0_20130125.pdf. 

reporting these securities in Schedule 

RC–B, Securities, item 5.b, noting that 

this item includes a broad range of 

structured financial products, and there 

would be a lack of clarity on the amount 

reported in this item that is guaranteed 

by a government or agency. The other 

comment supported reporting these 

securities in item 5.b. However, the 

commenter also noted the lack of 

transparency in this item regarding the 

composition of reported structured 

financial products. The commenter 

stated it would be appropriate for an 

additional breakdown to be added to 

item 5.b to report the amount that is 

guaranteed by the U.S. government or 

an agency. In the final 30-day notice 

published in June 2023,3 the agencies 

indicated they would continue 

reviewing the original clarification and 

the new item proposed by the 

commenter. 

After further review of the comment 

to collect data on the amounts reported 

in item 5.b that are guaranteed by U.S. 

government agencies or sponsored 

agencies, the agencies are proposing to 

add a new Memorandum item 7, 

‘‘Guaranteed by U.S. Government 

agencies or sponsored agencies included 

in Schedule RC–B, item 5.b’’, columns 

A through D, on Schedule RC–B. The 

proposed amounts in the new 

Memorandum item would collect the 

total amortized cost and total fair value 

for held-to-maturity securities and 

available-for-sale securities. 

C. Long-Term Debt 

On August 29, 2023, the federal bank 

regulatory agencies requested comment 

on a proposal that would require large 

banks with total assets of $100 billion or 

more to maintain a layer of long-term 

debt, which would improve financial 

stability by increasing the resolvability 

and resiliency of such institutions. This 

notice of proposed rulemaking (NPR) 

was published in the Federal Register 

on September 19, 2023.4 This NPR 

would affect insured depository 

institutions (IDIs) that are not 

consolidated subsidiaries of U.S. global 

systemically important banks (G–SIBs) 

and that (i) have at least $100 billion in 

consolidated assets or (ii) are affiliated 

with IDIs that have $100 billion in 

consolidated assets (covered IDIs) that 

are required to have outstanding a 

minimum amount of eligible long-term 

debt (LTD). Generally, under the 

proposal, covered IDIs that are 

consolidated subsidiaries of covered 

bank holding companies and savings 

and loan holding companies would be 

required to issue the LTD. 

The agencies are proposing to revise 

Schedule RC–R, Part I, Regulatory 

Capital Components and Ratios, for all 

three Call Reports by adding the 

following new line items under the 

heading ‘‘Long-Term Debt (LTD).’’ 

These new line items would be 

applicable only to IDIs subject to the 

long-term debt requirement in the NPR: 

D 56.a, ‘‘Effective date of LTD 

requirement;’’ 

D 56.b, ‘‘Outstanding eligible LTD;’’ 

D 56.c, ‘‘Outstanding eligible LTD 

with a remaining maturity greater than 

or equal to one year and less than two 

years;’’ 

D 56.d, ‘‘LTD total risk-weighted 

assets ratio;’’ and 

D 56.e, ‘‘LTD leverage ratio.’’ 

Additionally, on the FFIEC 031 and 

FFIEC 041 forms only, the agencies will 

add a sixth item, 56.f, ‘‘LTD 

supplementary leverage ratio.’’ 

The agencies are proposing to add 

these new items to monitor compliance 

by covered IDIs with the applicable 

proposed LTD requirements. These 

items would be consistent with similar 

items reported by holding companies on 

the Board’s Consolidated Financial 

Statements for Holding Companies (FR 

Y–9C), Schedule HC–R, Part I, 

Regulatory Capital Components and 

Ratios. For example, item 56.b, 

‘‘Outstanding eligible LTD,’’ on the Call 

Report would capture the same longterm debt information as item 54, 

‘‘Outstanding eligible long-term debt,’’ 

on the FR Y–9C, except it would apply 

to covered IDIs instead of holding 

companies. The proposed instructions 

for items 56.a through 56.f would 

correspond with the relevant items on 

the FR Y–9C as proposed in the NPR 

that was published on September 19, 

2023. Similar to the FR Y–9C, the 

proposed effective date for the Call 

Report revisions would align with the 

effective date of any final rule on LTD 

requirements, and the reporting changes 

would take effect for the first report date 

on or after that effective date. 

D. Electronic Signatures 

Background 

Federal law requires that certain 

personnel and directors attest to the 

accuracy of the data submitted in the 

bank’s Call Report by signature.5 In 

addition to being required by statute, 

review of the Call Report in connection 

with signing the attestation supports 

internal control over the bank’s 

reporting. The Call Report instructions 

permit a bank to satisfy the signature 

requirement by obtaining physical 

signatures from the relevant parties 

attached to a copy of the associated Call 

Report that is retained in the bank’s 

files. 

The onset of the COVID–19 pandemic 

in March 2020 and resulting bank office 

closures presented challenges to 

complying with the physical signature 

requirement. The agencies responded by 

permitting reasonable alternative 

signature methods, including electronic 

signatures, to be used for the duration 

of the pandemic.6

The federal COVID–19 public health 

emergency declaration ended on May 

11, 2023. However, both the agencies 

and banks have benefitted from the 

alternative to the use of physical 

signatures on each Call Report 

submission. For the agencies, electronic 

documentation can provide a stronger 

audit trail than a paper copy that can be 

misplaced or altered. For banks, 

electronic signatures can reduce 

recordkeeping burden associated with 

preparing for, collecting, and retaining 

signatures. Therefore, the agencies are 

proposing to adopt ongoing standards 

for electronic signatures to comply with 

the Call Report signature and attestation 

requirement. Until the agencies finalize 

these proposed standards, banks may 

continue following the alternate 

standards provided in the quarterly Call 

Report Supplemental Instructions. The 

agencies also will continue to permit 

physical signatures for banks that 

choose not to use the electronic 

signature alternative. 

Proposed Framework 

A valid electronic signature generally 

must meet the following requirements: 

(1) The signer must use an acceptable 

electronic form of signature; (2) The 

electronic form of signature must be 

executed or adopted by a person with 

the intent to sign the electronic record; 

(3) The electronic form of signature 

must be attached to 7 or part of the 

electronic record being signed; (4) There 

must be a means to identify, verify, and 

authenticate a particular person as the 

signer; and (5) There must be a means 

to preserve the integrity of the signed 

record.8 The agencies are proposing the 


ddrumheller on DSK120RN23PROD with NOTICES1
89494 Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 

9See, e.g., Electronic Records and Signatures in 

Global and National Commerce Act, Pub. L. 106– 

229; Government Paperwork Elimination Act of 

1998, Pub. L. 105–277. 

10These practices generally already exist within 

banks’ current information technology 

infrastructure for other bank records and customer 

information. 

electronic signature alternative for the 

Call Report signature purposes 

consistent with these requirements and 

Federal law on electronic signatures.9

1. Form of Signature 

The agencies are proposing to allow 

the following forms of signature: an 

image of the signer’s physical signature; 

or application of an electronic signature, 

such as by clicking a box or entering a 

personal identification number (PIN). 

These forms of signature are widely 

available in current software products, 

are used by many banks that permit 

electronic signatures on loans or other 

agreements with customers and have 

been used by banks under the 

alternatives permitted for the Call 

Report since March 2020. While other 

forms of signature exist, such as 

biometric identification (e.g., voiceprint, 

fingerprint, retinal scan), these would 

not be suitable for the Call Report given 

cost, complexity, and associated privacy 

issues involved in recording and 

maintaining signatures in these forms. 

2. Intent to Sign 

In order to be a valid electronic 

signature, the signature of the 

appropriate bank officer or director 

must be applied by the officer or 

director with the intent to sign and in 

the appropriate capacity. For the Call 

Report, this means the appropriate bank 

officer (typically the chief financial 

officer) or director intends to sign the 

Call Report as the attestation that it is 

prepared in accordance with the 

instructions and is true and correct, as 

stated on the signature page of the Call 

Report. The bank officer’s or director’s 

intent and capacity must be included as 

part of the electronic signature process 

by using an electronic version of the 

relevant attestation text on the Call 

Report signature page. 

3. Association of Signature 

A valid electronic signature must be 

made part of the record of the document 

being signed, to confirm that the 

signature applies to and is linked to the 

entire record. For Call Report purposes, 

this means the signature must be 

associated with a complete version of 

the bank’s Call Report, including all 

applicable schedules, as the signer is 

attesting to the correctness of the 

information in those schedules. This 

association can be made by using a 

process that appends the signature data 

to the record signed, or which 

establishes a database-type link between 

the signature data and the record signed. 

An electronic signature made on a cover 

page or the Call Report signature page, 

without the Call Report schedules 

incorporated or attached, would not 

satisfy this requirement. 

To validate that the bank obtained the 

signatures prior to filing the Call Report, 

the date of each electronic signature 

would need to be included as part of the 

signature and attestation process and 

similarly made part of the record. This 

could be accomplished in different 

ways, for example, by the signer 

manually entering the date when 

signing, which could be verified by 

system transaction logs, or by software 

embedding the date as part of the form 

of signature or elsewhere within the 

record. 

4. Identification and Authentication of 

the Signer 

A valid signature requires proving an 

association between the signature and 

the person signing. For Call Report 

purposes, the agencies would accept 

any reliable information technology 

system identification and authentication 

method or process that associates access 

to and execution of the electronic 

signature transaction with the identity 

of the signer with a level of assurance 

sufficient to protect against repudiation 

or adverse impact to the bank that 

would result from a successful 

challenge to the execution of the 

electronic signature. For example, 

requiring the bank officer or director to 

log into the bank’s network using 

unique multifactor credentials in order 

to electronically sign the Call Report 

could identify and authenticate the 

signer with sufficient assurance to 

protect against such risks. Credentials 

used to access the signature transaction 

must be sufficient for the protection of 

a bank’s non-public or otherwise 

proprietary information. 

5. Integrity of Signed Record 

The usability of a signed electronic 

record requires maintaining the integrity 

of the electronic signature and 

associated record. A bank would need to 

have sufficient data security and data 

integrity practices to ensure that the Call 

Report with electronic signature is 

safely stored, readily retrievable, and 

cannot be lost or altered.10 As with 

paper-based signatures, electronic 

signatures would not be submitted to 

the Central Data Repository along with 

the Call Report data, but the 

electronically signed Call Report would 

need to be available to agency 

examiners upon request. 

A Call Report with an electronic 

signature would be subject to the same 

record retention period as a paper 

version of the Call Report, as specified 

in the Call Report instructions, and may 

be deleted after the relevant timeframe. 

Generally, this period is three years after 

the report date, unless state law or a 

dispute with the FDIC requires a longer 

retention period. A bank that uses 

electronic signatures for its Call Reports 

would not be required to print or 

maintain a paper version of the 

submitted Call Report, as the relevant 

electronic versions of the Call Report 

and signatures would be stored in 

electronic form. 

Question 2: Are the proposed 

requirements for Call Report electronic 

signatures appropriate? What additional 

options should the agencies consider 

allowing or disallowing? 

Question 3: Does the proposed 

effective date provide sufficient time for 

banks seeking to use electronic 

signatures to implement the proposed 

standards? 

Question 4: Should the agencies 

consider expanding the use of electronic 

signatures to other FFIEC reports? If so, 

would the proposed requirements for 

Call Report electronic signatures be 

appropriate for those reports as well? 

III. Timing 

The proposed revisions to the Call 

Report forms and instructions, and the 

FFIEC 002, as applicable, and adoption 

of ongoing standards for electronic 

signatures to comply with the Call 

Report signature and attestation 

requirement are proposed to become 

effective with the June 30, 2024, report 

date, except for those related to the 

proposed long-term debt requirements 

which would take effect for the first 

report date at or following the effective 

date of any final rule. The agencies 

invite comment on any difficulties that 

institutions would expect to encounter 

in implementing the systems changes 

necessary to accommodate the proposed 

revisions to the Call Reports and the 

FFIEC 002, as applicable, consistent 

with this effective date. 

IV. Request for Comment 

Public comment is requested on all 

aspects of this joint notice including the 

questions that were provided in the 

earlier sections. In addition to the 

questions included above, comment is 

specifically invited on: 

(a) Whether the proposed revisions to 

the collections of information that are 

the subject of this notice are necessary 

for the proper performance of the 


ddrumheller on DSK120RN23PROD with NOTICES1
Federal Register / Vol. 88, No. 247 / Wednesday, December 27, 2023 / Notices 89495 

agencies’ functions, including whether 

the information has practical utility; 

(b) The accuracy of the agencies’ 

estimates of the burden of the 

information collections as they are 

proposed to be revised, including the 

validity of the methodology and 

assumptions used; 

(c) Ways to enhance the quality, 

utility, and clarity of the information to 

be collected; 

(d) Ways to minimize the burden of 

information collections 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. 

Comments submitted in response to 

this joint notice will be shared among 

the agencies. 

Patrick T. Tierney, 

Assistant Director, Bank Advisory Office of 

the Comptroller of the Currency. 

Board of Governors of the Federal Reserve 

System. 

Michele Taylor Fennell, 

Deputy Associate Secretary of the Board. 

Federal Deposit Insurance Corporation. 

Dated at Washington, DC, on December 14, 

2023. 

James P. Sheesley, 

Assistant Executive Secretary. 

[FR Doc. 2023–28473 Filed 12–26–23; 8:45 am] 

BILLING CODE 4810–33–P; BILLING CODE 6210–01–P; 

BILLING CODE 6714–01–P 

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 

(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 effective date(s). 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Bradley T. Smith, 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 the Assistant Director for 

Enforcement, Compliance and Analysis, 

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 December 19, 2023, OFAC 

determined that the property and 

interests in property subject to U.S. 

jurisdiction of the following persons are 

blocked under the relevant sanctions 

authorities listed below. 

Individuals 

1. ARDAKANI, Gholamreza Ebrahimzadeh 

(a.k.a. ARDAKANI HOSEIN, Gholamreza 

Ebrahimzadeh; a.k.a. ARDAKANI, Gholam 

Reza Ebrahimzadeh; a.k.a. ‘‘Denise Lee’’), 

Iran; DOB 20 Aug 1992; nationality Iran; 

Additional Sanctions Information—Subject 

to Secondary Sanctions; Gender Male; 

Passport M34961597 (Iran) expires 27 Sep 

2020; National ID No. 4440049443 (Iran) 

(individual) [NPWMD] [IRGC] [IFSR] (Linked 

To: ARDAKANI, Hossein Hatefi). 

Designated pursuant to section 1(a)(iii) of 

Executive Order 13382 of June 28, 2005, 

‘‘Blocking Property of Weapons of Mass 

Destruction Proliferators and Their 

Supporters,’’ 70 FR 38567, 3 CFR, 2005 

Comp., p. 170 (‘‘E.O. 13382’’), for having 

provided, or attempted to provide, financial, 

material, technological or other support for, 

or goods or services in support of, 

ARDAKANI, Hossein Hatefi, a person whose 

property and interests in property are 

blocked pursuant to E.O. 13382. 

2. ARDAKANI, Hossein Hatefi (a.k.a. 

ARDAKANI, Hosein Hatefi; a.k.a. 

ARDAKANI, Hussein Hatefi; a.k.a. 

ARDEKANI, Hossein Hatafi; a.k.a. ‘‘Seatha 

Murugiah’’), Tehran, Iran; DOB 21 Sep 1985; 

POB Ardakan, Iran; nationality Iran; 

Additional Sanctions Information—Subject 

to Secondary Sanctions; Gender Male; 

Passport U34290111 (Iran); National ID No. 

4449916581 (Iran) (individual) [NPWMD] 

[IRGC] [IFSR] (Linked To: ISLAMIC 

REVOLUTIONARY GUARD CORPS 

AEROSPACE FORCE SELF SUFFICIENCY 

JIHAD ORGANIZATION). 

Designated pursuant to section 1(a)(iii) of 

E.O. 13382 for having provided, or attempted 

to provide, financial, material, technological 

or other support for, or goods or services in 

support of, ISLAMIC REVOLUTIONARY 

GUARD CORPS AEROSPACE FORCE SELF 

SUFFICIENCY JIHAD ORGANIZATION, a 

person whose property and interests in 

property are blocked pursuant to E.O. 13382. 

3. DEWANTO, Agung Surya, Indonesia; 

DOB 17 Apr 1973; nationality Indonesia; 

Additional Sanctions Information—Subject 

to Secondary Sanctions; Gender Male; 

Passport R248877 (Indonesia); alt. Passport 

M765751 (Indonesia) expires 28 Mar 2008; 

alt. Passport A2935714 (Indonesia); 

Identification Number 1398039 (Indonesia) 

(individual) [NPWMD] [IRGC] [IFSR] (Linked 

To: SURABAYA HOBBY CV). 

Designated pursuant to section 1(a)(iv) of 

E.O. 13382 for acting or purporting to act for 

or on behalf of, directly or indirectly, 

SURABAYA HOBBY CV, a person whose 

property and interests in property are 

blocked pursuant to E.O. 13382. 

4. MOHAMMADABADI, Mehdi Dehghani 

(a.k.a. MOHAMMADABADI ABOLGHASEM, 

Mehdi Dehghani), Tehran, Iran; DOB 23 Sep 

1982; nationality Iran; Additional Sanctions 

Information—Subject to Secondary 

Sanctions; Gender Male; National ID No. 

4433172081 (Iran) (individual) [NPWMD] 

[IRGC] [IFSR] (Linked To: KAVAN 

ELECTRONICS BEHRAD LIMITED 

LIABILITY COMPANY). 

Designated pursuant to section 1(a)(iv) of 

E.O. 13382 for acting or purporting to act for 

or on behalf of, directly or indirectly, 

KAVAN ELECTRONICS BEHRAD LIMITED 

LIABILITY COMPANY, a person whose 

property and interests in property are 

blocked pursuant to E.O. 13382. 

Entities 

1. ARTA WAVE SDN BHD, No. 46–1, Jalan 

Tasik Utama, 5 Medan, Niaga, Kuala Lumpur 

57000, Malaysia; 26–2, Jalan 9/23 E, Taman 

Danau Kota, Off Jalan Genting Klang, Kuala 

Lumpur 53300, Malaysia; Rm. 1014, Favor 

Industrial Centre, 2–6 King Hong Street, 

Kwai Chung, Hong Kong, China; Additional 

Sanctions Information—Subject to Secondary 

Sanctions; Organization Established Date 10 

Dec 2018; Commercial Registry Number 

1306915A (Malaysia); Registration Number 

201801044883 (Malaysia) [NPWMD] [IRGC] 

[IFSR] (Linked To: ARDAKANI, Hossein 

Hatefi). 

Designated pursuant to section 1(a)(iii) of 

E.O. 13382 for having provided, or attempted 

to provide, financial, material, technological 

or other support for, or goods or services in 

support of, ARDAKANI, Hossein Hatefi, a 

person whose property and interests in 

property are blocked pursuant to E.O. 13382. 

2. BASAMAD ELECTRONIC POUYA 

ENGINEERING LIMITED LIABILITY 

COMPANY (a.k.a. DYNAMIC ELECTRONIC 

FREQUENCY ENGINEERING LIMITED 

LIABILITY COMPANY), No. 63, Unit 4, 

Shahrara, Patrice Lumumba St., Abshori St., 

Tehran 1445934911, Iran; Additional 

Sanctions Information—Subject to Secondary 

Sanctions; Organization Established Date 20 

Jan 2015; National ID No. 14004684489 

(Iran); Registration Number 466887 (Iran) 

[NPWMD] [IRGC] [IFSR] (Linked To: 

ARDAKANI, Hossein Hatefi). 

Designated pursuant to section 1(a)(iv) of 

E.O. 13382 for being owned or controlled by 

ARDAKANI, Hossein Hatefi, a person whose 

property and interests in property are 

blocked pursuant to E.O. 13382. 

3. DIRAC TECHNOLOGY HK LIMITED, 

Rm 2304 Ho King, Commercial Bldg 2–16, Fa 

Yuen St., Mongkok, Kowloon, Hong Kong, 

China; website https://dirac-tech.com/; 


ddrumheller on DSK120RN23PROD with NOTICES1