32746 Federal Register / Vol. 66, No. 117 / Monday, June 18, 2001 / Rules and Regulations

investment, productivity, innovation, or

the ability of U.S. based enterprises to

compete with foreign-based enterprises.

This determination is based upon the

fact that the state submittal which is the

subject of this rule is based upon

counterpart federal regulations for

which an analysis was prepared and a

determination made that the federal

regulation was not considered a major

rule.

Unfunded Mandates

This rule will not impose a cost of

$100 million or more in any given year

on any governmental entity or the

private sector.

List of Subjects in 30 CFR Part 920

Intergovernmental relations, Surface

mining, Underground mining.

Dated: May 23, 2001.

Allen D. Klein,

Regional Director, Appalachian Regional

Coordinating Center.

For the reasons set out in the

preamble, Title 30, Chapter VII,

Subchapter T of the Code of Federal

Regulations is amended as set forth

below:

PART 920—MARYLAND

1. The authority citation for part 920

continues to read as follows:

Authority: 30 U.S.C. 1201 et seq.

2. Section 920.15 is amended in the

table by adding a new entry in

chronological order by ‘‘Date of Final

Publication’’ to read as follows:

§ 920.15 Approval of Maryland regulatory

program amendments.

* * * * *

Original amendment

submission date

Date of final

publication Citation/description

*******

April 11, 2000 ............................................ 6/18/01 COMAR 26.20.01.02B(72–1), 26.20.02.01C and D, 26.20.02.13M, 26.20.03.05I(5),

26.20.14.09A(5), 26.20.31.02H, I, J,& K.

[FR Doc. 01–15290 Filed 6–15–01; 8:45 am]

BILLING CODE 4310–05–P

DEPARTMENT OF THE TREASURY

31 CFR Part 103

Extension of Grant of Conditional

Exception to Bank Secrecy Act

Regulations Relating to Orders for

Transmittal of Funds by Financial

Institutions

AGENCY: Financial Crimes Enforcement

Network (‘‘FinCEN’’), Treasury.

ACTION: Extension of a grant of

conditional exception; request for

comments.

SUMMARY: FinCEN extends for another

two years a conditional exception to a

Bank Secrecy Act requirement. The

exception, which would otherwise

expire on May 31, 2001, permits

financial institutions to comply more

efficiently with the requirement for

inclusion of certain information in

orders for transmissions of funds.

DATES: Effective June 1, 2001. Written

comments on the question raised in this

document must be received on or before

December 1, 2001.

ADDRESSES: Written comments should

be submitted to: Office of Chief Counsel,

Financial Crimes Enforcement Network,

Department of the Treasury, 2070 Chain

Bridge Road, Vienna, Virginia 22182,

Attention: Travel Rule—Extension of

CIF Exception. Comments also may be

submitted by electronic mail to the

following internet address—

regcomments@fincen.treas.gov—using

the caption described in the previous

sentence. Comments may be inspected,

between 10 a.m. and 4 p.m., in the

FinCEN reading room at the Franklin

Court Building, 14th and L Streets,

Washington, DC. Persons wishing to

inspect the comments submitted should

request an appointment by telephoning

(202) 354–6400.

FOR FURTHER INFORMATION CONTACT:

David K. Gilles, Chief, Financial

Institutions Program, FinCEN, (202)

354–6400, or Albert R. Zarate, Senior

Regulatory Counsel, Office of Chief

Counsel, FinCEN, (703) 905–3590.

SUPPLEMENTARY INFORMATION:

I. Background

In 1998, FinCEN granted a conditional

exception (the ‘‘CIF Exception’’) to the

strict operation of 31 CFR 103.33(g) (the

‘‘Travel Rule’’). See FinCEN Issuance

98–1, 63 FR 3640 (January 26, 1998).

The Travel Rule requires a financial

institution to include certain

information in transmittal orders

relating to transmittals of funds of

$3,000 or more. The CIF Exception

addressed computer programming

problems in the banking and securities

industries by relaxing the Travel Rule’s

requirement that a customer’s true name

and street address be included in a

funds transmittal order, so long as

alternate steps, described in FinCEN

Issuance 98–1 and designed to prevent

avoidance of the Travel Rule, were

satisfied. By its terms, the CIF Exception

to the Travel Rule was to expire on May

31, 1999; however, FinCEN extended

the CIF Exception so that it would

expire instead on May 31, 2001. See

FinCEN Issuance 99–1, 64 FR 41041

(July 29, 1999).

The basis for the CIF Exception and

its extension remain valid—namely, that

relaxing the strict operation of the

Travel Rule is appropriate to meet the

continuing programming problems in

the banking and securities industry, so

long as complete information about

funds transfers can be made available

efficiently to law enforcement officials.

FinCEN specifically invites comments

as to whether the terms of the CIF

Exception should be permanently

incorporated into the Travel Rule.

II. FinCEN Issuance 2001–1

By virtue of the authority contained in

31 CFR 103.55(a) and (b), which has

been delegated to the Director of

FinCEN, the effective period of the CIF

Exception, as such Exception is set forth

(as part of FinCEN Issuance 98–1, 63 FR

3640 (January 26, 1998)) under the

heading ‘‘Grant of Exceptions’’ (63 FR

3641) is extended so that the CIF

Exception will expire, on May 31, 2003

(if not revoked or modified with respect

to such expiration date prior to that

time), for transmittals of funds initiated

after that date.

Signed this 30th day of May, 2001.

James F. Sloan,

Director, Financial Crimes Enforcement

Network.

[FR Doc. 01–15224 Filed 6–15–01; 8:45 am]

BILLING CODE 4820–03–P