Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 18475 

information from eligible jurisdictions 

through an online portal. 

• Capital Program Reports. Treasury 

must collect SSBCI information in 

annual and quarterly reports to 

implement the SSBCI, determine the 

participating jurisdiction’s compliance 

with the SSBCI statute, regulations, and 

guidance, and evaluate program 

outcomes. The quarterly report must 

include basic information about the 

participating jurisdiction’s SSBCIsupported programs (e.g., program name 

and type) and program-level 

information on the use of the 

participating jurisdiction’s SSBCI funds 

(e.g., total allocated funds expended, 

obligated, or transferred). The annual 

report must include information about 

the participating jurisdiction’s SSBCIsupported program providers (e.g., 

provider name and type), the specific 

terms of its SSBCI-supported loans and 

investments (e.g., loan type, equity 

security type), demographics-related 

data of the businesses that participate in 

SSBCI (e.g., gender and veteran status of 

the business’s principal owners), and 

the performance of its SSBCI-supported 

loans and investments (e.g., SSBCI 

funds lost due to loan default or loss of 

investment). Treasury will collect 

annual and quarterly reports from 

eligible jurisdictions through an online 

portal. 

• Technical Assistance (TA) Grant 

Program Application. In order to 

determine the eligibility of jurisdictions 

to receive SSBCI funds to carry out TA 

plans, Treasury must collect the 

following types of information in an 

application: Points of contact for the 

eligible jurisdiction and those 

administering the program; how the 

eligible jurisdiction plans to use the 

funds to provide legal, accounting, and 

financial advisory services to very small 

businesses and business enterprises 

owned and controlled by socially and 

economically disadvantaged individuals 

(SEDI-owned businesses); details on the 

eligible jurisdiction’s proposed TA 

projects and the associated budgets; 

how the proposed TA plan complies 

with the SSBCI statute, regulations, and 

guidance; and the eligible jurisdiction’s 

compliance and oversight capabilities. 

Treasury will collect application 

information from eligible jurisdictions 

through an online portal. 

• TA Grant Program Reports. 

Treasury must collect financial and 

performance reports consistent with 2 

CFR 200.328–329 in order for Treasury 

to determine compliance with the 

SSBCI statute, regulations, and guidance 

and to evaluate program outcomes. The 

financial and performance reports must 

include information about the 

participating jurisdiction’s progress in 

implementing its TA plan and details on 

its use of TA funds. 

Form: Capital Program Application 

and Quarterly and Annual Report forms. 

Affected Public: States, the District of 

Columbia, territories, and Tribal 

governments. 

Estimated Number of Respondents: 

3,000. 

Frequency of Response: Annually, 

Quarterly. 

Estimated Total Number of Annual 

Responses: 177,500. 

Estimated Time per Response: 9 

minutes up to 5 hours. 

Estimated Total Annual Burden 

Hours: 48,350 hours. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record. 

Comments are invited on: (a) Whether 

the collection of information is 

necessary for the proper performance of 

the functions of the agency, including 

whether the information shall have 

practical utility; (b) the accuracy of the 

agency’s estimate of the burden of the 

collection of information; (c) ways to 

enhance the quality, utility, and clarity 

of the information to be collected; (d) 

ways to minimize the burden of the 

collection of information on 

respondents, including through the use 

of technology; and (e) estimates of 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services required to provide 

information. 

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

Jacob Leibenluft, 

Chief Recovery Officer. 

[FR Doc. 2022–06701 Filed 3–29–22; 8:45 am] 

BILLING CODE 4810–AK–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Submission for OMB 

Review; Comment Request; Reports of 

Transactions With Foreign Financial 

Agencies 

AGENCY: Departmental Offices, U.S. 

Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury will submit the following 

information collection requests to the 

Office of Management and Budget 

(OMB) for review and clearance in 

accordance with the Paperwork 

Reduction Act of 1995, on or after the 

date of publication of this notice. The 

public is invited to submit comments on 

these requests. 

DATES: Comments should be received on 

or before April 29, 2022 to be assured 

of consideration. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

FOR FURTHER INFORMATION CONTACT: 

Copies of the submissions may be 

obtained from Spencer W. Clark by 

emailing PRA@treasury.gov, calling 

(202) 927–5331, or viewing the entire 

information collection request at 

www.reginfo.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Reports of transactions with 

foreign financial agencies (31 CFR 

1010.360). 

OMB Control Number: 1506–0055. 

Type of Review: Renewal without 

change of a currently approved 

information collection. 

Description: The legislative 

framework generally referred to as the 

Bank Secrecy Act (BSA) consists of the 

Currency and Financial Transactions 

Reporting Act of 1970, as amended by 

the Uniting and Strengthening America 

by Providing Appropriate Tools 

Required to Intercept and Obstruct 

Terrorism Act of 2001 (USA PATRIOT 

Act), Public Law 107–56 (October 26, 

2001), and other legislation, including 

most recently the Anti-Money 

Laundering Act of 2020 (AML Act).[1] 

The BSA is codified at 12 U.S.C. 1829b, 

12 U.S.C. 1951–1960, 31 U.S.C. 5311– 

5314 and 5316–5336, and includes 

notes thereto, with implementing 

regulations at 31 CFR Chapter X. 

The BSA authorizes the Secretary of 

the Treasury, inter alia, to require 

financial institutions to keep records 

and file reports that are determined to 

have a high degree of usefulness in 

criminal, tax, and regulatory matters, or 

in the conduct of intelligence or 

counter-intelligence activities to protect 

against international terrorism, and to 

implement AML programs and 

compliance procedures. Regulations 

implementing the BSA appear at 31 CFR 

Chapter X. The authority of the 

Secretary to administer the BSA has 

been delegated to the Director of 

FinCEN. 

The Secretary is authorized to require 

any ‘‘resident or citizen of the United 

States or a person in, and doing 


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18476 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 

business in, the United States, to . . . 

keep records and file reports, when the 

resident, citizen, or person makes a 

transaction or maintains a relation for 

any person with a foreign financial 

agency.’’ The term ‘‘foreign financial 

agency’’ (FFA) means any person 

engaging in any activities outside the 

United States of a ‘‘financial agency,’’ 

which the statute defines as ‘‘a person 

acting for a person . . . as a financial 

institution, bailee, depository trustee, or 

agent, or acting in a similar way related 

to money, credit, securities, gold, or a 

transaction in money, credit, securities 

or gold, or a service provided with 

respect to money, securities, futures, 

precious metals, stones and jewels, or 

value that substitutes for currency.’’ The 

Secretary is also authorized to prescribe 

exemptions to the reporting requirement 

and to prescribe other matters the 

Secretary considers necessary to carry 

out 31 U.S.C. 5314. The regulations 

implementing reports of transactions 

with foreign financial agencies are 

found at 31 CFR 1010.360. 

31 CFR 1010.360(a) authorizes the 

Secretary, when the Secretary deems 

appropriate, to promulgate regulations 

requiring specified financial institutions 

to file reports of certain transactions 

with designated FFAs. 

A regulation promulgated pursuant to 

31 CFR 1010.360(a) must designate one 

or more of the following categories of 

information to be reported by the 

specified financial institution: 

• Checks or drafts, including 

traveler’s checks, received by a 

respondent financial institution for 

collection or credit to the account of a 

designated FFA, sent by the respondent 

financial institution to a foreign country 

for collection or payment, drawn by the 

respondent financial institution on a 

designated FFA, or drawn by a 

designated FFA on the respondent 

financial institution, including the 

following information: Name of maker 

or drawer; name of drawee or drawee 

financial institution; name of payee; 

date and amount of instrument; and 

names of all endorsers. 

• Transmittal orders received by a 

respondent financial institution from a 

designated FFA or sent by the 

respondent financial institution to a 

designated FFA, including all 

information maintained by that 

institution pursuant to 31 CFR 1010.410 

and 1020.410. 

• Loans made by a respondent 

financial institution to or through a 

designated FFA, including the following 

information: Name of borrower; name of 

person acting for borrower; date and 

amount of loan; terms of repayment; 

name of guarantor; rate of interest; 

method of distributing proceeds; and 

collateral for loan. 

• Commercial paper received or 

shipped by a respondent financial 

institution, including the following 

information: Name of maker; date and 

amount of paper; due date; certificate 

number; and amount of transaction. 

• Stocks received or shipped by a 

respondent financial institution, 

including the following information: 

Name of corporation; type of stock; 

certificate number; number of shares; 

date of certificate; name of registered 

holder; and amount of transaction. 

• Bonds received or shipped by a 

respondent financial institution, 

including the following information: 

Name of issuer; bond number; type of 

bond series; date issued; due date; rate 

of interest; amount of transaction; and 

name of registered holder. 

• Certificates of deposit received or 

shipped by a respondent financial 

institution, including the following 

information: Name and address of 

issuer; date issued; dollar amount; name 

of registered holder; due date; rate of 

interest; certificate number; and name 

and address of issuing agent. 

In issuing regulations as provided in 

31 CFR 1010.360(a), the Secretary must 

prescribe: A reasonable classification of 

financial institutions subject to or 

exempt from a reporting requirement; a 

foreign country to which a reporting 

requirement applies if the Secretary 

decides that applying the requirement to 

all foreign countries is unnecessary or 

undesirable; the magnitude of 

transactions subject to a reporting 

requirement; and the kind of transaction 

subject to or exempt from a reporting 

requirement. 

Regulations issued pursuant to 31 

CFR 1010.360(a) may prescribe the 

manner in which the information is to 

be reported. However, the Secretary may 

authorize a designated financial 

institution to report in a different 

manner if the institution demonstrates 

to the Secretary that the form of the 

required report is unnecessarily 

burdensome on the institution as 

prescribed; that a report in a different 

form will provide all the information 

the Secretary deems necessary; and that 

submission of the information in a 

different manner will not unduly hinder 

the effective administration of 31 CFR 

Chapter X. 

In issuing regulations under 31 CFR 

1010.360(e), the Secretary: (i) Must 

consider the need to avoid impeding or 

controlling the export or import of 

monetary instruments and the need to 

avoid burdening unreasonably a person 

making a transaction with a designated 

FFA; (ii) cannot issue a regulation under 

31 CFR 1010.360(a) for the purpose of 

obtaining individually identifiable 

account information concerning a 

customer, as defined by the Right to 

Financial Privacy Act, where that 

customer is already the subject of an 

ongoing investigation for possible 

violation of the BSA, or is known by the 

Secretary to be the subject of an 

investigation for possible violation of 

any other Federal law; and (iii) may 

issue a regulation pursuant to 31 CFR 

1010.360(a) requiring a financial 

institution to report transactions 

completed prior to the date it received 

notice of the reporting requirement. 

However, with respect to completed 

transactions, a financial institution may 

be required to provide information only 

from records required to be maintained 

pursuant to the requirements of 31 CFR 

Chapter X, or any other provision of 

state or Federal law, or otherwise 

maintained in the regular course of 

business. 

31 CFR 1010.430(d) requires that all 

records that are required to be retained 

by Chapter X must be retained for a 

period of five years. 

FinCEN is issuing this notice to renew 

the OMB control number for regulations 

requiring reports of transactions with 

designated FFAs. 

Form: None. 

Affected Public: Businesses or other 

for-profit institutions; non-profit 

institutions. 

Estimated Number of Respondents: 9. 

Frequency of Response: On occasion. 

Estimated Total Number of Annual 

Responses: 84. 

Estimated Total Annual Burden 

Hours: 11,897 hours. 

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

Molly Stasko, 

Treasury PRA Clearance Officer. 

[FR Doc. 2022–06643 Filed 3–29–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Emergency Submission for 

OMB Review; Comment Request; 

Homeowner Assistance Fund 

Compliance Reporting 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury has submitted the following 

information collection request to the 

Office of Management and Budget 

(OMB) for review and clearance 

utilizing emergency review procedures 

in accordance with the Paperwork 


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