[Federal Register Volume 74, Number 131 (Friday, July 10, 2009)]
[Notices]
[Pages 33316-33317]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-16382]


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DEPARTMENT OF THE TREASURY

Office of the Comptroller of the Currency


Agency Information Collection Activities: Submission for OMB 
Review; Comment Request

AGENCY: Office of the Comptroller of the Currency, Treasury.

ACTION: Notice and request for comment.

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SUMMARY: The OCC, as part of its continuing effort to reduce paperwork 
and respondent burden, invites the general public and other Federal 
agencies to take this opportunity to comment on a continuing 
information collection, as required by the Paperwork Reduction Act of 
1995. An agency may not conduct or sponsor, and a respondent is not 
required to respond to, an information collection unless it displays a 
currently valid OMB control number. The OCC is soliciting comment 
concerning its information collection titled, ``Minimum Security 
Devices and Procedures, Reports of Suspicious Activities, and Bank 
Secrecy Act Compliance--12 CFR 21.'' The OCC also gives notice that it 
has sent the information collection to the Office of Management and 
Budget (OMB) for review.

DATES: Comments must be received by August 10, 2009.

ADDRESSES: Communications Division, Office of the Comptroller of the 
Currency, Public Information Room, Mailstop 2-3, Attention: 1557-0180, 
250 E Street, SW., Washington, DC 20219. In addition, comments may be 
sent by fax to (202) 874-5274, or by electronic mail to 
<a href="/cdn-cgi/l/email-protection#44362123376a272b2929212a3037042b27276a30362125376a232b32"><span class="__cf_email__" data-cfemail="55273032267b363a3838303b2126153a36367b21273034267b323a23">[email protected]</span></a>. You may personally inspect and photocopy 
comments at the OCC, 250 E Street, SW., Washington, DC 20219. 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.
    Additionally, you should send a copy of your comments to OCC Desk 
Officer, 1557-0180, by mail to U.S. Office of Management and Budget, 
725, 17th Street, NW., <greek-i>10235, Washington, DC 20503, or by fax 
to (202) 395-6974.

FOR FURTHER INFORMATION CONTACT: You can request additional information 
or a copy of the collection from Mary H. Gottlieb, OCC Clearance 
Officer, (202) 874-5090, Legislative and Regulatory Activities 
Division, Office of the Comptroller of the Currency, 250 E Street, SW., 
Washington, DC 20219.

SUPPLEMENTARY INFORMATION: The OCC is proposing to extend OMB approval 
of the following information collection:
    Title: Minimum Security Devices and Procedures, Reports of 
Suspicious Activities, and Bank Secrecy Act Compliance--12 CFR 21.
    OMB Control No.: 1557-0180.
    SAR Form Nos.: 8010/8010-9.
    Description: This submission covers an existing regulation and 
involves no change to the regulation or to the information collection 
requirements. The OCC requests only that OMB extend its approval of the 
information collection.

Minimum Security Devices and Procedures (12 CFR 21.2 and 21.4)

    Under Sec. Sec.  21.2 and 21.4, a national bank is required to 
designate a security officer who must develop and administer a written 
security program. The security officer shall report at least annually 
to the bank's board of directors on the effectiveness of the security 
program. The substance of the report shall be reflected in the Board's 
minutes. These requirements ensure that the security officer is 
responsible for the security program and that bank management and the 
board of directors are aware of the content and effectiveness of the 
program. These requirements ensure prudent bank management and bank 
safety and soundness. The OCC uses the information to ensure that 
national banks carefully review the effectiveness of their security 
systems and comply with Federal law. The information collection ensures 
that national banks conduct their activities in accordance with safe 
and sound principles. A national bank's board of directors uses the 
information to ensure that the bank's security system is adequate.

Suspicious Activity Report (SAR) (12 CFR 21.11)

    In 1992, the Department of the Treasury was granted broad authority 
to require suspicious transaction reporting under the Bank Secrecy Act. 
See 31 U.S.C. 5318(g). FinCEN, which has been delegated authority to 
administer the Bank Secrecy Act, joined with the bank regulators in 
1996 in requiring, on a consolidated form (the SAR form), reports of 
suspicious transactions. See 31 CFR 103.18(a). The filing of SARs is 
necessary to prevent and detect crimes involving bank funds, bank 
insiders, criminal transactions, and money laundering. These 
requirements are necessary to ensure bank safety and soundness.
    The Financial Crimes Enforcement Network (FinCEN) and Federal 
financial institution supervisory agencies \1\ (bank regulators) 
adopted the SAR in 1996 to simplify the process through which 
depository institutions (banks) inform their regulators and law 
enforcement about suspected criminal activity.
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    \1\ The five Federal financial institution supervisory agencies 
are the Office of the Comptroller of the Currency (OCC), Board of 
Governors of the Federal Reserve System (FRB), Federal Deposit 
Insurance Corporation (FDIC), Office of Thrift Supervision (OTS), 
and National Credit Union Administration (NCUA).
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    The SAR was updated in 1999, 2002, and 2006. The 2006 revisions to 
the SAR form enhanced the clarity of the instructions to allow for 
joint filing of SARs, and improved the usefulness of the SAR to law 
enforcement. These revisions were originally scheduled to become 
effective on June 30, 2007. On May 1, 2007, FinCEN issued a notice to 
communicate a delay in the dates for using the revised SAR form, and 
stated its intention to establish new effective dates in a future 
notice consistent with its data quality initiatives.\2\ FinCEN has

[[Page 33317]]

not established new effective dates for using this revised SAR form.
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    \2\ 83 FR 23891 (May 1, 2007). This announcement did not affect 
the BSA filing requirements, and financial institutions were to 
continue to use the July 2003 form until further notice. (http://www.fincen.gov/forms/files/f9022-47_sar-di.pdf).
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    Consistent with the 2006 revisions to the SAR form, FinCEN and the 
bank regulators are once again proposing to adopt the revised 2006 SAR 
form. This SAR form will not become effective until FinCEN establishes 
new dates consistent with its data quality initiatives. The OCC uses 
the SAR and the supporting documentation retained by national banks for 
supervisory purposes. The information collection identifies suspicious 
transactions that could pose a threat to national banks.
    Banks are required to maintain a copy of any SAR filed and the 
original or business record equivalent of any supporting documentation 
for a period of five years. The documents are necessary for criminal 
investigations and prosecutions.

Procedures for Monitoring Bank Secrecy Act Compliance (12 CFR 21.21)

    Under 12 CFR 21.21, national banks are required to develop and 
provide for the continued administration of a program reasonably 
designed to assure and monitor their compliance with the Bank Secrecy 
Act (BSA) and Treasury regulations at 12 CFR part 31. The compliance 
program shall be reduced to writing, approved by the board of 
directors, and noted in the minutes. These requirements are necessary 
to ensure bank compliance with the BSA and 12 CFR part 31. National 
banks use the compliance program to ensure compliance with the Bank 
Secrecy Act. Bank examiners review the written procedures and board 
approval in the examination process.
    FinCEN and the Internal Revenue Detroit Computing Center (DCC) 
operate the computer system containing the information collected from 
banks. FinCEN and DCC provide on-line access to the information to 
representatives of bank regulators and appropriate law enforcement 
agencies.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals; Businesses or other for-profit.
    Estimated Number of Respondents: 1,501.
    Estimated Total Annual Responses: 337,421.
    Frequency of Response: On occasion.
    Estimated Total Annual Burden: 449,086.
    OCC, FinCEN, FRB, FDIC, OTS, and NCUA issued a 60-day notice for 
comment on April 1, 2009. 71 FR 14863. The notice covered the 
information collection requirements contained in the SAR for all of the 
agencies and the information collection requirements in OCC's part 21. 
No comments were received by the OCC. FinCEN received three comments, 
one of which was also received by the FDIC. A comment summary is 
included in the information collection submitted to OMB.
    The OCC invites continued comments on:
    (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information has 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 on respondents, 
including through the use of automated collection techniques or other 
forms of information technology; and
    (e) Estimates of capital or startup costs and costs of operation, 
maintenance, and purchase of services to provide information.

    Dated: July 6, 2009.
Michele Meyer,
Assistant Director, Legislative and Regulatory Activities Division.
[FR Doc. E9-16382 Filed 7-9-09; 8:45 am]
BILLING CODE 4810-33-P


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