Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Rules and Regulations 51765 

VIII. Executive Order 12866 

Executive Orders 12866 and 13563 

direct agencies to assess costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits 

(including potential economic, 

environmental, public health and safety 

effects, distributive impacts, and 

equity). Executive Order 13563 

emphasizes the importance of 

quantifying both costs and benefits, of 

reducing costs, of harmonizing rules, 

and of promoting flexibility. It has been 

determined that this rule is not a 

‘‘significant regulatory action’’ for 

purposes of Executive Order 12866. 

List of Subjects in 31 CFR Part 1010 

Administrative practice and 

procedure, Banks and banking, Brokers, 

Counter-money laundering, Counterterrorism, Foreign banking. 

Authority and Issuance 

For the reasons set forth in the 

preamble, part 1010, chapter X of title 

31 of the Code of Federal Regulations, 

is amended as follows: 

PART 1010—GENERAL PROVISIONS 

■ 1. The authority citation for part 1010 

is revised to read as follows: 

Authority: 12 U.S.C. 1829b and 1951–1959; 

31 U.S.C. 5311–5314, 5316–5332; Title III, 

sec. 314, Pub. L. 107–56, 115 Stat. 307; sec. 

701, Pub. L. 114–74, 129 Stat. 599. 

■ 2. Add § 1010.660 to read as follows: 

§ 1010.660 Special measures against Bank 

of Dandong. 

(a) Definitions. For purposes of this 

section: 

(1) Bank of Dandong means all 

subsidiaries, branches, and offices of 

Bank of Dandong Co., Ltd. operating in 

any jurisdiction. 

(2) Correspondent account has the 

same meaning as provided in 

§ 1010.605(c)(1)(ii). 

(3) Covered financial institution has 

the same meaning as provided in 

§ 1010.605(e)(1). 

(4) Foreign banking institution means 

a bank organized under foreign law, or 

an agency, branch, or office located 

outside the United States of a bank. The 

term does not include an agent, agency, 

branch, or office within the United 

States of a bank organized under foreign 

law. 

(5) Subsidiary means a company of 

which more than 50 percent of the 

voting stock or analogous equity interest 

is owned by another company. 

(b) Prohibition on accounts and due 

diligence requirements for covered 

financial institutions—(1) Opening or 

maintaining correspondent accounts for 

Bank of Dandong. A covered financial 

institution shall not open or maintain in 

the United States a correspondent 

account for, or on behalf of, Bank of 

Dandong. 

(2) Prohibition on use of 

correspondent accounts involving Bank 

of Dandong. A covered financial 

institution shall take reasonable steps 

not to process a transaction for the 

correspondent account of a foreign 

banking institution in the United States 

if such a transaction involves Bank of 

Dandong. 

(3) Special due diligence of 

correspondent accounts to prohibit use. 

(i) A covered financial institution shall 

apply special due diligence to its foreign 

correspondent accounts that is 

reasonably designed to guard against 

their use to process transactions 

involving Bank of Dandong. At a 

minimum, that special due diligence 

must include: 

(A) Notifying those foreign 

correspondent account holders that the 

covered financial institution knows or 

has reason to believe provide services to 

Bank of Dandong that such 

correspondents may not provide Bank of 

Dandong with access to the 

correspondent account maintained at 

the covered financial institution; and 

(B) Taking reasonable steps to identify 

any use of its foreign correspondent 

accounts by Bank of Dandong, to the 

extent that such use can be determined 

from transactional records maintained 

in the covered financial institution’s 

normal course of business. 

(ii) A covered financial institution 

shall take a risk-based approach when 

deciding what, if any, other due 

diligence measures it reasonably must 

adopt to guard against the use of its 

foreign correspondent accounts to 

process transactions involving Bank of 

Dandong. 

(iii) A covered financial institution 

that knows or has reason to believe that 

a foreign bank’s correspondent account 

has been or is being used to process 

transactions involving Bank of Dandong 

shall take all appropriate steps to further 

investigate and prevent such access, 

including the notification of its 

correspondent account holder under 

paragraph (b)(3)(i)(A) of this section 

and, where necessary, termination of the 

correspondent account. 

(4) Recordkeeping and reporting. (i) A 

covered financial institution is required 

to document its compliance with the 

notice requirement set forth in 

paragraph (b)(3)(i)(A) of this section. 

(ii) Nothing in this paragraph (b) shall 

require a covered financial institution to 

report any information not otherwise 

required to be reported by law or 

regulation. 

Dated: November 2, 2017. 

Jamal El-Hindi, 

Acting Director, Financial Crimes 

Enforcement Network. 

[FR Doc. 2017–24238 Filed 11–7–17; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 100 

[Docket No. USCG–2017–0972] 

Special Local Regulations; Key West 

World Championship, Atlantic Ocean, 

Key West, FL 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of enforcement of 

regulation. 

SUMMARY: The Coast Guard will enforce 

the Key West World Championship 

Special Local Regulation from 9:30 a.m. 

until 4:30 p.m. on November 8, 10, and 

12, 2017. This action is necessary to 

ensure safety of life on navigable waters 

of the United States and to protect race 

participants, participant vessels, 

spectators, and the general public from 

the hazards associated with high-speed 

boat races. During the enforcement 

period, and in accordance with 

previously issued special local 

regulations, no person or vessel may 

enter, transit through, anchor in, or 

remain within the regulated area 

without permission from the Captain of 

the Port Key West or a designated 

representative. 

DATES: The regulations in 33 CFR 

100.701 will be enforced for the location 

listed in item (c)(9) in the Table to 33 

CFR 100.701 from 9:30 a.m. until 4:30 

p.m. on November 8, 10, and 12, 2017. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this notice of 

enforcement, call or email Lieutenant 

Scott Ledee, Sector Key West 

Waterways Management Department, 

Coast Guard; telephone (305) 292–8768, 

email Scott.G.Ledee@uscg.mil. 

SUPPLEMENTARY INFORMATION: On 

November 8, 10, and 12, 2017, Super 

Boat International Productions, Inc. is 

hosting the Key West World 

Championship, a series of high-speed 

boat races. The Coast Guard will enforce 

the special local regulation for the 

annual Key West World Championship 

Super Boat Race in 33 CFR 100.701, 


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51766 Federal Register / Vol. 82, No. 215 / Wednesday, November 8, 2017 / Rules and Regulations 

table item (c)(9) from 9:30 a.m. until 

4:30 p.m. on November 8, 10, 11, and 

12, 2017. 

Under the provisions of 33 CFR 

100.701, no unauthorized person or 

vessel may enter, transit through, 

anchor within, or remain in the 

established regulated areas unless 

permission to enter has been granted by 

the Captain of the Port Key West or 

designated representative. This action is 

to provide enforcement action of 

regulated area that will encompass 

portions of the waters of the Atlantic 

Ocean located southwest of Key West, 

Florida. The Coast Guard may be 

assisted by other Federal, State, or local 

law enforcement agencies in enforcing 

this regulation. 

This notice of enforcement is issued 

under authority of 33 CFR 100.701 and 

5 U.S.C. 552(a). The Coast Guard will 

provide notice of the regulated area by 

Local Notice to Mariners, Broadcast 

Notice to Mariners, and on-scene 

designated representatives. If the 

Captain of the Port Key West determines 

that the regulated area need not be 

enforced for the full duration stated in 

this publication, he or she may use a 

Broadcast Notice to Mariners to grant 

general permission to enter the 

regulated area. 

Dated: November 2, 2017. 

Jeffrey A. Janszen, 

Captain, U.S. Coast Guard, Captain of the 

Port Key West. 

[FR Doc. 2017–24291 Filed 11–7–17; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2017–0976] 

RIN 1625–AA09 

Drawbridge Operation Regulation; 

Lake Washington, Seattle, WA 

AGENCY: Coast Guard, DHS. 

ACTION: Final rule. 

SUMMARY: The Coast Guard is removing 

the existing drawbridge operation 

regulation for the Evergreen Point 

Floating Bridge (SR–520 Floating 

Bridge) across Lake Washington, mile 

4.3, at Seattle, WA. The drawbridge was 

replaced with a fixed bridge in 2016, 

and the operating regulation is no longer 

applicable or necessary. The SR–520 

Floating Bridge was rebuilt, and the 

center span was built with a fixed span 

that replaced the draw. 

DATES: This rule is effective November 

8, 2017. 

ADDRESSES: To view documents 

mentioned in this preamble as being 

available in the docket, go to http://

www.regulations.gov, type USCG–2017– 

0976. In the ‘‘SEARCH’’ box and click 

‘‘SEARCH.’’ Click on Open Docket 

Folder on the line associated with this 

rulemaking 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this rule, call or 

email Mr. Steven Fischer, Bridge 

Administrator, Thirteenth Coast Guard 

District; telephone 206–220–7282, email 

d13-pf-d13bridges@uscg.mil. 

SUPPLEMENTARY INFORMATION: 

I. Table of Abbreviations 

CFR Code of Federal Regulations 

DHS Department of Homeland Security 

FR Federal Register 

Pub. L. Public Law 

§ Section 

U.S.C. United States Code 

II. Background Information and 

Regulatory History 

The Coast Guard is issuing this final 

rule without prior notice and 

opportunity to comment pursuant to 

authority under section 4(a) of the 

Administrative Procedure Act (APA) (5 

U.S.C. 553(b)). This provision 

authorizes an agency to issue a rule 

without prior notice and opportunity to 

comment when the agency for good 

cause finds that notice and comment 

procedures are ‘‘impracticable, 

unnecessary, or contrary to the public 

interest.’’ Under 5 U.S.C. 553(b), the 

Coast Guard finds that good cause exists 

for not publishing a notice of proposed 

rulemaking (NPRM) because the 

Evergreen Point Floating Bridge (SR– 

520 Floating Bridge), that once required 

draw operations in 33 CFR 117.1049, 

was removed from Lake Washington 

and replaced with a fixed bridge in 

2016. Therefore, the regulation is no 

longer applicable and needs to be 

removed. It is unnecessary to publish a 

NPRM because drawbridge regulations 

are only used for bridges that have an 

operational span that is intended to be 

opened for the passage of waterway 

traffic. The Evergreen Point Floating 

Bridge identified in 33 CFR 117.1049 no 

longer exists and has been replaced by 

a bridge without an operational span. 

For the same reasons stated in the 

preceding paragraph, under 5 U.S.C. 

553(d)(3), the Coast Guard finds that 

good cause exists for making this rule 

effective in less than 30 days after 

publication in the Federal Register. The 

bridge at issue no longer has an 

operational span and therefore has no 

need of a drawbridge regulation. The 

removal of the regulation will not affect 

mariners currently operating on this 

waterway. Therefore, a delayed effective 

date is unnecessary. 

III. Legal Authority and Need for Rule 

The Coast Guard is issuing this rule 

under authority 33 U.S.C. 499. 

The Evergreen Point Floating Bridge 

(SR–520 Floating Bridge) was removed 

and replaced with a fixed bridge in 

2016. The elimination of this 

drawbridge necessitates the removal of 

the drawbridge operation regulation (33 

CFR 117.1049) that pertains to the 

former drawbridge. The purpose of this 

rule is to remove the section of 33 CFR 

117.1049 that refers to the Evergreen 

Point Floating Bridge at mile 4.3 from 

the Code of Federal Regulations, 

because the bridge at that location is no 

longer has an operational span. 

IV. Discussion of Final Rule 

The Coast Guard is changing the 

regulation in 33 CFR 117.1049 by 

removing restrictions and the regulatory 

burden related to the draw operations 

for this bridge that is no longer a 

drawbridge. The change removes the 

regulation governing the Evergreen 

Point Floating Bridge since the bridge 

has been replaced with a fixed bridge. 

This final rule will update the Code of 

Federal Regulations by removing 

language that governs the operation of 

the Evergreen Point Floating Bridge, 

which in fact is no longer a drawbridge. 

This change does not affect waterway or 

land traffic. 

V. Regulatory Analyses 

We developed this rule after 

considering numerous statutes and 

Executive Orders related to rulemaking. 

Below we summarize our analyses 

based on a number of these statutes and 

Executive Orders. 

A. Regulatory Planning and Review 

Executive Orders 12866 and 13563 

direct agencies to assess the costs and 

benefits of available regulatory 

alternatives and, if regulation is 

necessary, to select regulatory 

approaches that maximize net benefits. 

Executive Order 13771 directs agencies 

to control regulatory costs through a 

budgeting process. This rule has not 

been designated a ‘‘significant 

regulatory action,’’ under Executive 

Order 12866. Accordingly, it has not 

been reviewed by the Office of 

Management and Budget (OMB) and 

pursuant to OMB guidance it is exempt 

from the requirements of Executive 

Order 13771. See OMB’s Memorandum 

‘‘Guidance Implementing Executive 

Order 13771, Titled ‘Reducing 


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