10136 Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Proposed Rules 

DEPARTMENT OF THE TREASURY 

Office of the Comptroller of the 

Currency 

12 CFR Part 4 

[Docket ID OCC–2009–0003] 

RIN 1557–AD16 

Standards Governing the Release of a 

Suspicious Activity Report 

AGENCY: Office of the Comptroller of the 

Currency, Treasury. 

ACTION: Notice of proposed rulemaking. 

SUMMARY: The Office of the Comptroller 

of the Currency (OCC) is proposing to 

revise its regulations governing the 

release of non-public OCC information. 

The primary change being proposed 

would clarify that the OCC’s decision to 

release a suspicious activity report 

(SAR) will be governed by the standards 

set forth in proposed amendments to the 

OCC’s SAR regulation that are part of a 

separate, but simultaneous, rulemaking. 

DATES: Comments must be received by 

June 8, 2009. 

ADDRESSES: Because paper mail in the 

Washington, DC area and received by 

the OCC is subject to delay, commenters 

are encouraged to submit comments by 

the Federal eRulemaking Portal or email, if possible. Please use the title 

‘‘SAR Release Standards’’ to facilitate 

the organization and distribution of the 

comments. You may submit comments 

by any of the following methods: 

Federal eRulemaking Portal— 

‘‘Regulations.gov’’: Go to http:// 

www.regulations.gov, under the ‘‘More 

Search Options’’ tab click next to the 

‘‘Advanced Docket Search’’ option 

where indicated, select ‘‘Comptroller of 

the Currency’’ from the agency dropdown menu, then click ‘‘Submit.’’ In the 

‘‘Docket ID’’ column, select ‘‘OCC– 

2009–0003’’ to submit or view public 

comments and to view supporting and 

related materials for this notice of 

proposed rulemaking. The ‘‘How to Use 

This Site’’ link on the Regulations.gov 

home page provides information on 

using Regulations.gov, including 

instructions for submitting or viewing 

public comments, viewing other 

supporting and related materials, and 

viewing the docket after the close of the 

comment period. 

• E-mail: 

regs.comments@occ.treas.gov. 

• Mail: Office of the Comptroller of 

the Currency, 250 E Street, SW., Mail 

Stop 2–3, Washington, DC 20219. 

• Fax: (202) 874–5724. 

• Hand Delivery/Courier: 250 E 

Street, SW., Mail Stop 2–3, Washington, 

DC 20219. 

Instructions: You must include 

‘‘OCC’’ as the agency name and ‘‘Docket 

Number OCC–2009–0003’’ in your 

comment. In general, OCC will enter all 

comments received into the docket and 

publish them on the Regulations.gov 

Web site without change, including any 

business or personal information that 

you provide such as name and address 

information, e-mail 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 

enclose 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 

notice of proposed rulemaking by any of 

the following methods: 

• Viewing Comments Electronically: 

Go to http://www.regulations.gov, under 

the ‘‘More Search Options’’ tab click 

next to the ‘‘Advanced Document 

Search’’ option where indicated, select 

‘‘Comptroller of the Currency’’ from the 

agency drop-down menu, then, click 

‘‘Submit.’’ In the ‘‘Docket ID’’ column, 

select ‘‘OCC–2009–0003’’ to view public 

comments for this rulemaking action. 

• Viewing Comments Personally: You 

may personally inspect and photocopy 

comments at the OCC, 250 E Street, 

SW., Washington, DC. For security 

reasons, the OCC requires that visitors 

make an appointment to inspect 

comments. You may do so by calling 

(202) 874–4700. Upon arrival, visitors 

will be required to present valid 

government-issued photo identification 

and submit to security screening in 

order to inspect and photocopy 

comments. 

• Docket: You may also view or 

request available background 

documents and project summaries using 

the methods described above. 

FOR FURTHER INFORMATION CONTACT: 

James Vivenzio, Senior Counsel for 

BSA/AML, (202) 874–5200; Ellen 

Warwick, Assistant Director, Litigation, 

(202) 874–5280; or Patrick Tierney, 

Senior Attorney, Legislative and 

Regulatory Activities, (202) 874–5090; 

Office of the Comptroller of the 

Currency, 250 E Street, SW., 

Washington, DC 20219. 

SUPPLEMENTARY INFORMATION: 

I. Introduction 

The OCC is proposing to amend its 

regulations set forth in 12 CFR part 4, 

subpart C, governing the release of nonpublic OCC information. First, the 

proposed amendments conform subpart 

C to amendments to the OCC’s SAR 

confidentiality rule, 12 CFR 21.11(k), 

that are being proposed as part of a 

separate, but simultaneous, rulemaking 

that the OCC is conducting together 

with the Financial Crimes Enforcement 

Network (FinCEN) and is published 

elsewhere in this issue of the Federal 

Register. Under the standards that the 

OCC is proposing to incorporate into 

part 4, the OCC will only release a SAR, 

or any information that would reveal the 

existence of a SAR (referred to in this 

preamble as ‘‘SAR information’’) when 

‘‘necessary to fulfill official duties 

consistent with Title II of the Bank 

Secrecy Act’’ (BSA). The proposed 

standards also state that ‘‘official 

duties’’ does not include the disclosure 

of SAR information for use in a private 

legal proceeding or a request under 

§ 4.33. Thus, one effect of these 

proposed amendments is that the OCC 

will not release SAR information in 

response to a request from a private 

litigant arising out of a private legal 

proceeding. 

In addition to the clarification of the 

standards governing the release of SAR 

information, the proposed amendments 

to subpart C also clarify that the OCC 

will deny a request for non-public 

information made under 12 CFR 4.33, if 

the release is prohibited by law. Finally, 

the amendments include a technical 

correction to § 4.37 that is described in 

section III of this SUPPLEMENTARY

INFORMATION. 

II. Background 

As described in greater detail below, 

this proposal amends part 4 to make 

subpart C consistent with the proposed 

amendments to the OCC’s SAR 

regulation that implement section 351 of 

the USA PATRIOT Act, to ensure that 

the appropriate standard is applied to 

the OCC’s disclosure of SAR 

information. 12 CFR part 4, subpart C, 

contains the OCC’s standards and 

procedures for the release of ‘‘nonpublic OCC information,’’ and sets forth 

the restrictions on the dissemination of 

such information. Generally, ‘‘nonpublic OCC information’’ is confidential 

and privileged information that is the 

property of the OCC, and that the OCC 

is not required to release under the 

Freedom of Information Act (5 U.S.C. 

552 et seq.) or that the OCC has not yet 

published or made available pursuant to 

12 U.S.C. 1818(u), the statute requiring 

publication of certain enforcement 

orders. Examples in subpart C of ‘‘nonpublic OCC information’’ currently 

include ‘‘a SAR filed by the OCC, a 

national bank, or a Federal branch or 

agency of a foreign bank licensed or 


pwalker on PROD1PC71 with PROPOSALS2
Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Proposed Rules 10137 

1See 12 CFR 4.32(b)(vii) 

2See 12 CFR 4.33–4.35. 

3See 12 CFR 4.36. 

4See 12 CFR 4.37(c). 

5 31 U.S.C. 5318(g)(1). 

6 31 U.S.C. 5318(g)(2)(A)(i). 

7The phrase ‘‘any person involved in the 

transaction’’ has been construed to apply to ‘‘any 

person’’ because the disclosure of SAR information 

to any outside party may make it likely that SAR 

information would be disclosed to a person 

involved in the transaction, which is expressly 

prohibited by the BSA. See Cotton v. Private Bank 

and Trust Co., 235 F. Supp. 2d 809, 815 (N.D. Ill. 

2002). 

8See USA PATRIOT Act, section 351(b). Pub. L. 

107–56, Title III, section 351, 115 Stat. 272, 

321(2001). 9 64 FR 29214 (June 1, 1999). 

10 64 FR 29215 (June 1, 1999). 11 64 FR 29216 (June 1, 1999). 12See, e.g., 12 CFR 4.33. 

13 31 U.S.C. 5311 (setting forth the purposes of the 

BSA). 

14See, e.g., Giglio v. United States, 405 U.S. 150, 

153–54 (1972); Brady v. State of Maryland, 373 U.S. 

83, 86–87 (1963); Jencks v. United States, 353 U.S. 

657, 668 (1957). 

15See 12 CFR 4.35(a)(2). 

16See 12 CFR 4.31(b)(3). 

chartered by the OCC under 12 CFR 

21.11.’’ 1

Subpart C generally describes 

procedures for requesting non-public 

OCC information from the OCC, such as 

where to submit a request, the form of 

the request, information that must be 

included in any request involving an 

adversarial matter, and various bases for 

the OCC’s denial of such a request.2

Subpart C also authorizes the OCC to 

make non-public OCC information 

available to a supervised entity and to 

other persons, at the sole discretion of 

the Comptroller, without a request for 

records or testimony,3 and sets forth the 

OCC’s policy regarding the release of 

non-public OCC information to other 

government agencies in response to a 

request.4 Subpart C also describes the 

conditions and limitations that the OCC 

may place on information it discloses 

under subpart C. 

Although SARs fall within the 

definition of ‘‘non-public OCC 

information,’’ the release of a SAR is 

governed by standards set forth in the 

BSA. The BSA and its implementing 

regulations require a financial 

institution to file a SAR when it detects 

a known or suspected violation of 

Federal law or a suspicious activity 

related to money laundering, terrorist 

financing, or other criminal activity.5

SARs generally are unsubstantiated 

reports of possible violations of law or 

of suspicious activities that are used for 

law enforcement or regulatory purposes. 

The BSA provides that a financial 

institution, and its officers, directors, 

employees, and agents are prohibited 

from notifying any person involved in a 

suspicious transaction that the 

transaction was reported.6 More 

importantly, in 2001, section 351 of the 

USA PATRIOT Act added a new 

provision to the BSA prohibiting 

officers or employees of the Federal 

government or any State, local, tribal, or 

territorial government within the United 

States from disclosing to any person 7

involved in a suspicious transaction that 

the transaction was reported, other than 

as necessary to fulfill the official duties 

of such officer or employee.8

Accordingly, it is this provision that 

now governs the ability of the OCC to 

disclose SAR information to any person. 

In 1999, the OCC amended the 

examples in its definition of ‘‘nonpublic OCC information’’ to explicitly 

include a SAR filed by the OCC or a 

supervised entity, making SARs subject 

to the procedures for the release of nonpublic OCC information set forth in part 

4.9 The preamble to the final rule 

explained ‘‘while the OCC has always 

taken the position that SARs are nonpublic information, the OCC was 

proposing this change to enhance the 

ability of banks and the OCC to protect 

SARs from being disclosed when SARs 

are sought by private litigants.’’ 10 Later, 

the preamble explains that SARs were 

being added to the list of examples of 

non-public OCC information ‘‘to protect 

the confidentiality of SARs further, 

particularly in litigation, not to make 

them more easily disclosable.’’ 11

The OCC is revisiting the treatment of 

SAR information in subpart C in light of 

the 2001 amendments to the BSA, 

added by section 351 of the USA 

PATRIOT Act, that specifically address 

governmental disclosures of SARs. 

Under the proposed amendments to 

subpart C, the OCC will decide whether 

to release SAR information based upon 

the standard in the OCC’s proposed 

amendments to its SAR rules, 12 CFR 

21.11(k), implementing section 351, 

rather than upon any of the factors set 

out in subpart C.12 The standard in the 

proposed amendments to the OCC’s 

SAR rules provides that the OCC will 

not, and an officer, employee or agent of 

the OCC, shall not, disclose SAR 

information except as necessary to 

fulfill official duties consistent with 

Title II of the BSA. In addition, the 

standard provides that ‘‘official duties’’ 

shall not include the disclosure of SAR 

information in response to a request for 

use in a private legal proceeding or in 

response to a request for disclosure of 

non-public information under 12 CFR 

4.33. 

The proposed SAR rules interpret 

‘‘official duties’’ as ‘‘official duties 

consistent with the purposes of Title II 

of the BSA,’’ meaning, official 

disclosures necessary to accomplish a 

governmental purpose entrusted to the 

agency, the officer, or employee, 

consistent with the purposes of Title II 

of the BSA, namely, for ‘‘criminal, tax, 

or regulatory investigations or 

proceedings, or in the conduct of 

intelligence or counterintelligence 

activities, including analysis, to protect 

against international terrorism.’’ 13 This 

standard would permit, for example, 

disclosures responsive to a grand jury 

subpoena; a request from an appropriate 

Federal or State law enforcement or 

regulatory agency; a request from an 

appropriate Congressional committee or 

subcommittee; and prosecutorial 

disclosures mandated by statute or the 

Constitution in connection with the 

statement of a government witness to be 

called at trial, the impeachment of a 

government witness, or as material 

exculpatory of a criminal defendant.14

III. Section-by-Section Description of 

the Proposal 

Section 4.31(b)(4) Purpose and Scope 

Subpart C currently includes several 

standards for the release of non-public 

OCC information. A person seeking nonpublic OCC information generally must 

submit a request in writing to the OCC 

that addresses the factors set forth in 

§ 4.33. Section 4.35 describes how the 

OCC will make its determination to 

release the information, and contains an 

illustrative list of possible bases for 

denial of a request.15 Section 4.36(a) 

provides that the OCC may release 

information to a supervised entity or 

any person, even without a request, at 

the discretion of the Comptroller when 

necessary or appropriate. In addition, 

the scope section of subpart C makes 

clear that § 4.37(c) applies to requests 

for non-public OCC information from 

Federal and foreign governments and 

state agencies with authority to 

investigate violations of criminal law, 

and state bank regulatory agencies.16

Section 4.37(c) states that, when not 

prohibited by law, the Comptroller may 

make non-public OCC information 

available to these governmental entities 

for their use, when necessary in the 

performance of their official duties. 

This proposal adds a new paragraph 

(b)(4) to 12 CFR 4.31, the scope section 

of subpart C, which states that the 

OCC’s decision to disclose records or 

testimony involving SAR information 

for purposes of 12 CFR 4.35(a)(1), 

4.36(a), and 4.37(c), is governed solely 

by the standard in 12 CFR 21.11(k). 

Accordingly, the Comptroller’s 


pwalker on PROD1PC71 with PROPOSALS2
10138 Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Proposed Rules 

discretion to disclose SAR information 

to any person or entity without a request 

under § 4.36, and the OCC’s 

determination to disclose SAR 

information in response to a request for 

use in private litigation under § 4.33 or 

to another government agency under 

§ 4.37, will be circumscribed by the 

standard in the proposed amendments 

to 12 CFR 21.11(k) prohibiting the 

disclosure of SAR information ‘‘except 

as necessary to fulfill official duties 

consistent with Title II of the Bank 

Secrecy Act.’’ In accordance with the 

OCC’s longstanding commitment to 

protect the confidentiality of SARs, this 

proposed standard also provides that 

‘‘official duties’’ does not include the 

disclosure of SAR information in 

response to a request for use in a private 

legal proceeding or in response to a 

request for disclosure of non-public 

information under 12 CFR 4.33. 

Section 4.32(b) Definition of Non-Public 

OCC Information 

This proposal amends the definition 

of ‘‘non-public OCC information’’ in 

§ 4.32(b) to remove the reference to ‘‘a 

SAR filed by the OCC, a national bank, 

or a Federal branch or agency of a 

foreign bank licensed or chartered by 

the OCC under 12 CFR 21.11’’ from the 

illustrative list of examples that follow 

the definition of ‘‘non-public OCC 

information.’’ SAR information would 

still be covered by the definition of 

‘‘non-public OCC information.’’ 

However, the OCC is proposing to 

remove the reference to SARs from the 

illustrative list because highlighting 

SAR information as an example of nonpublic OCC information would be 

misleading in light of the amendments 

to § 4.31 described in the previous 

section. As described earlier, under the 

amendments to subpart C, SAR 

information would become a unique 

subset of non-public OCC information 

subject to release solely in accordance 

with the standards set forth in 12 CFR 

21.11(k). 

Notwithstanding the OCC’s deletion 

of the specific reference to SARs as an 

example of ‘‘non-public OCC 

information,’’ SAR information would 

continue to be otherwise subject to the 

provisions of subpart C that are not 

superseded by the standards proposed 

in part 21. For example, § 4.37(d), which 

generally provides that the possession 

by a person of non-public OCC 

information does not constitute a waiver 

by the OCC of its right to control, or 

impose limitations on, the use and 

dissemination of the information, would 

continue to apply to SAR information. 

Section 4.35(a)(2) Consideration of 

Requests 

Section 4.35 generally describes how 

the OCC makes its determination to 

release or to withhold non-public OCC 

information in response to requests 

received under § 4.33. Section 4.35(a)(2) 

lists five examples of reasons for which 

the OCC will deny the release of nonpublic OCC information. 

The OCC is proposing to add ‘‘when 

prohibited by law’’ as a sixth example 

of a reason for denial of requests made 

under § 4.33. This addition clarifies that 

the OCC may deny a request under 

§ 4.33 when prohibited by law, for 

example, when the standard in 

§ 21.11(k) is applicable to a request for 

SAR information. 

Section 4.37(c) Disclosures to 

Government Agencies 

The proposal also makes a technical 

correction to § 4.37(c). Section 4.37(c) 

describes the basis for disclosures of 

non-public OCC information to 

government agencies. The last sentence 

in § 4.37(c) also states that any 

information that is made available 

under this section is OCC property, and 

the OCC may condition its use on 

appropriate confidentiality protections, 

‘‘including the mechanisms identified 

in § 4.37.’’ However, the various 

mechanisms that provide confidentiality 

protections are identified in § 4.38 of 

subpart C, rather than in § 4.37. 

Therefore, the OCC is proposing to 

replace the reference to ‘‘§ 4.37’’ with a 

reference to ‘‘§ 4.38.’’ 

IV. Request for Comments 

The OCC welcomes comments on any 

aspect of these proposed amendments to 

the SAR rules. 

The OCC has timed the release of this 

proposal to coincide with the issuance 

of the proposed rules to amend its SAR 

confidentiality rules set forth in 12 CFR 

part 21.11(k), so that commenters can 

consider each proposal in commenting 

on the other. 

V. OCC Solicitation of Comments on 

Use of Plain Language 

Section 722 of the Gramm-LeachBliley Act, Public Law 106–102, sec. 

722, 113 Stat. 1338, 1471 (Nov. 12, 

1999), requires the OCC to use plain 

language in all proposed and final rules 

published after January 1, 2000. 

Therefore, the OCC specifically invites 

your comments on how to make this 

proposal easier to understand. For 

example: 

• Have we organized the material to 

suit your needs? If not, how could this 

material be better organized? 

• Are the requirements in the 

proposal clearly stated? If not, how 

could the requirements be more clearly 

stated? 

• Does the proposal contain language 

or jargon that is not clear? If so, which 

language requires clarification? 

• Would a different format make the 

regulations easier to understand? If so, 

what changes to the format would make 

them easier to understand? 

• What else could we do to make the 

regulations easier to understand? 

VI. OCC Community Bank Comment 

Request 

The OCC invites your comments on 

the impact of this proposal on 

community banks. The OCC recognizes 

that community banks operate with 

more limited resources than larger 

institutions and may present a different 

risk profile. Thus, the OCC specifically 

requests comment on the impact of the 

proposal on community banks’ current 

resources and available personnel with 

the requisite expertise, and whether the 

goals of the proposal could be achieved, 

for community banks, through an 

alternative approach. 

VII. OCC Regulatory Analysis 

Regulatory Flexibility Act 

Under section 605(b) of the 

Regulatory Flexibility Act (RFA), 5 

U.S.C. 605(b), the regulatory flexibility 

analysis otherwise required under 

section 604 of the RFA is not required 

if the agency certifies that the rule will 

not have a significant economic impact 

on a substantial number of small entities 

and publishes its certification and a 

short, explanatory statement in the 

Federal Register along with its rule. 

The OCC has determined that the 

proposed amendments will not have a 

significant economic impact on a 

substantial number of small entities. 

The proposed changes in internal 

standards, which were prompted by a 

statutory change, will simply affect the 

nature of the OCC’s internal 

deliberations regarding the agency’s 

ability to disclose a SAR. Therefore, 

pursuant to section 605(b) of the RFA, 

the OCC hereby certifies that this 

proposal will not have a significant 

economic impact on a substantial 

number of small entities. Accordingly, a 

regulatory flexibility analysis is not 

needed. 

Executive Order 12866 

The OCC has determined that this 

proposal is not a significant regulatory 

action under Executive Order 12866. 

The OCC has concluded that the 

proposed change in the OCC’s internal 


pwalker on PROD1PC71 with PROPOSALS2
Federal Register / Vol. 74, No. 44 / Monday, March 9, 2009 / Proposed Rules 10139 

standards for determining whether a 

SAR should be disclosed will not have 

an annual effect on the economy of $100 

million or more. The OCC further 

concludes that this proposal does not 

meet any of the other standards for a 

significant regulatory action set forth in 

Executive Order 12866. 

Paperwork Reduction Act 

We have reviewed the proposed 

amendments in accordance with the 

Paperwork Reduction Act of 1995 (44 

U.S.C. 3506; 5 CFR 1320, Appendix A.1) 

(PRA) and have determined that they do 

not contain any ‘‘collections of 

information’’ as defined by the PRA. 

Unfunded Mandates Reform Act of 1995 

Section 202 of the Unfunded 

Mandates Reform Act of 1995, Public 

Law 104–4 (2 U.S.C. 1532) (Unfunded 

Mandates Act), requires that an agency 

prepare a budgetary impact statement 

before promulgating any rule likely to 

result in a Federal mandate that may 

result in the expenditure by State, local, 

and tribal governments, in the aggregate, 

or by the private sector of $100 million 

or more (adjusted for inflation) in any 

one year. If a budgetary impact 

statement is required, section 205 of the 

Unfunded Mandates Act also requires 

an agency to identify and consider a 

reasonable number of regulatory 

alternatives before promulgating a rule. 

The OCC has determined that these 

proposed amendments, which change 

the standards the OCC will apply when 

determining whether to release a SAR, 

will not result in expenditures by State, 

local, and tribal governments, or by the 

private sector, of $100 million or more 

(adjusted for inflation) in any one year. 

Accordingly, this proposal is not subject 

to section 202 of the Unfunded 

Mandates Act. 

List of Subjects in 12 CFR Part 4 

Administrative practice and 

procedure, Freedom of information, 

Individuals with disabilities, Minority 

businesses, Organization and functions 

(Government agencies), Reporting and 

recordkeeping requirements, Women. 

Authority and Issuance 

For the reasons set forth in the 

preamble, part 4, subpart C, of title 12 

of the Code of Federal Regulations is 

proposed to be amended as follows: 

PART 4—ORGANIZATION AND 

FUNCTIONS, AVAILABILITY AND 

RELEASE OF INFORMATION, 

CONTRACTING OUTREACH 

PROGRAM, POST-EMPLOYMENT 

RESTRICTIONS FOR SENIOR 

EXAMINERS 

1. Revise the authority citation for 

part 4 to read as follows: 

Authority: 12 U.S.C. 93a. Subpart A also 

issued under 5 U.S.C. 552. Subpart B also 

issued under 5 U.S.C. 552; E.O. 12600 (3 CFR 

1987 Comp., p. 235). Subpart C also issued 

under 5 U.S.C. 301, 552; 12 U.S.C. 161, 481, 

482, 484(a), 1442, 1817(a)(2) and (3), 1818(u) 

and (v), 1820(d)(6), 1820(k), 1821(c), 1821(o), 

1821(t), 1831m, 1831p–1, 1831o, 1867, 1951 

et seq., 2601 et seq., 2801 et seq., 2901 et seq., 

3101 et seq., 3401 et seq.; 15 U.S.C. 77uu(b), 

78q(c)(3); 18 U.S.C. 641, 1905, 1906; 29 

U.S.C. 1204; 31 U.S.C. 5318(g)(2), 9701; 42 

U.S.C. 3601; 44 U.S.C. 3506, 3510. Subpart D 

also issued under 12 U.S.C. 1833e. 

2. Add § 4.31(b)(4) to read as follows: 

§ 4.31 Purpose and scope. 

* * * * * 

(b) * * * 

(4) For purposes of §§ 4.35(a)(1), 

4.36(a) and 4.37(c), the OCC’s decision 

to disclose records or testimony 

involving a Suspicious Activity Report 

(SAR) filed pursuant to the regulations 

implementing 12 U.S.C. 5318(g), or any 

information that would reveal the 

existence of a SAR, is governed solely 

by 12 CFR 21.11(k). 

* * * * * 

§ 4.32 [Amended] 

3. Amend § 4.32(b) by: 

a. Removing paragraph (b)(1)(vii). 

b. Adding the word ‘‘and’’ at the end 

of paragraph (b)(1)(v); and 

c. Removing, at the end of paragraph 

(b)(1)(vi), ‘‘; and’’ and adding a period 

in its place; 

4. Amend § 4.35(a)(2) by: 

a. Removing the word ‘‘or’’ at the end 

of paragraph (a)(2)(iv); 

b. Removing, in paragraph (a)(2)(v), 

the period and by adding in lieu thereof 

‘‘; or’’; and 

c. Adding a new paragraph (a)(2)(vi) 

to read as follows: 

§ 4.35 Consideration of requests. 

(a) * * * 

(2) * * * 

(vi) When prohibited by law. 

* * * * * 

§ 4.37 [Amended] 

5. In paragraph § 4.37(c), remove the 

reference to ‘‘§ 4.37’’ in the last sentence 

and add in lieu thereof ‘‘§ 4.38.’’ 

Dated: January 22, 2009. 

John C. Dugan, 

Comptroller of the Currency. 

[FR Doc. E9–4700 Filed 3–6–09; 8:45 am] 

BILLING CODE 4810–33–P 

DEPARTMENT OF THE TREASURY 

Office of Thrift Supervision 

12 CFR Part 563 

[Docket ID OTS–2008–0015] 

RIN 1550–AC26 

Confidentiality of Suspicious Activity 

Reports 

AGENCY: The Office of Thrift 

Supervision, Treasury (OTS). 

ACTION: Notice of proposed rulemaking. 

SUMMARY: The OTS is proposing to 

amend its regulations implementing the 

Bank Secrecy Act (BSA) governing the 

confidentiality of a Suspicious Activity 

Report (SAR) to: clarify the scope of the 

statutory prohibition on the disclosure 

by a financial institution of a report of 

a suspicious transaction, as it applies to 

savings associations and service 

corporations; address the statutory 

prohibition on the disclosure by the 

government of a report of a suspicious 

transaction, as that prohibition applies 

to the OTS’s standards governing the 

disclosure of SARs; clarify the exclusive 

standard applicable to the disclosure of 

a SAR, or any information that would 

reveal the existence of a SAR, by the 

OTS is ‘‘to fulfill official duties 

consistent with the purposes of the 

BSA’’; and modify the safe harbor 

provision in its rules to include changes 

made by the Uniting and Strengthening 

America by Providing Appropriate 

Tools Required to Intercept and 

Obstruct Terrorism (USA PATRIOT) 

Act. These amendments are based upon 

a similar proposal being 

contemporaneously issued by the Office 

of Comptroller of the Currency (OCC) 

and the Financial Crimes Enforcement 

Network (FinCEN). 

DATES: Comments must be received by 

June 8, 2009. 

ADDRESSES: You may submit comments, 

identified by OTS–2008–0015 (‘‘docket 

number’’) by any of the following 

methods: 

• Federal eRulemaking Portal:— 

‘‘Regulations.gov’’: Go to http:// 

www.regulations.gov, under the ‘‘More 

Search Options’’ tab click next to the 

‘‘Advanced Docket Search’’ option 

where indicated, select ‘‘Office of Thrift 

Supervision’’ from the agency dropdown menu, then click ‘‘Submit.’’ In the 


pwalker on PROD1PC71 with PROPOSALS2