View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1557-0231
ICR Reference No:
201607-1557-007
Status:
Historical Active
Previous ICR Reference No:
201302-1557-009
Agency/Subagency:
TREAS/OCC
Agency Tracking No:
Title:
Bank Secrecy Act/Anti-Money Laundering Risk Assessment
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
10/20/2016
Retrieve Notice of Action (NOA)
Date Received in OIRA:
08/08/2016
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2019
36 Months From Approved
10/31/2016
Responses
1,535
0
1,792
Time Burden (Hours)
12,915
0
10,752
Cost Burden (Dollars)
0
0
0
Abstract:
The OCC conducts an annual data collection, known as the Money Laundering Risk (MLR) System, from community banks (national banks and federal savings associations), to assist OCC examiners in supervising Bank Secrecy Act (BSA) and sanctions compliance. The MLR system enhances the ability of examiners and bank management to identify and evaluate BSA/money laundering and Office of Foreign Asset Control (OFAC) sanctions risks associated with banks' products, services, customers, and locations. The MLR is an important tool for the OCC's BSA/Anti-Money Laundering/OFAC supervision activities because it allows the agency to better identify those institutions, and areas within institutions, that pose heightened risk. This information assists us in allocating examination resources, improves examination scopes, and augments transaction testing capabilities. The MLR is critical in protecting financial institutions from potential abuse from money laundering or terrorist financing. Through this ICR, the OCC is expanding the collection to the midsize and large bank populations.
Authorizing Statute(s):
US Code:
12 USC 93a
Name of Law: National Bank Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
81 FR 143
01/04/2016
30-day Notice:
Federal Register Citation:
Citation Date:
81 FR 52521
08/08/2016
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Community Bank Population
N/A
OCC's BSA/AML Quantity of Risk Summary Form
Large Bank Population
N/A
OCC's BSA/AML Quantity of Risk Summary Form
Midsize Bank Population
N/A
OCC's BSA/AML Quantity of Risk Summary Form
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
1,535
1,792
0
85
-342
0
Annual Time Burden (Hours)
12,915
10,752
0
4,215
-2,052
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The increase in burden is due to the expansion of the collection to the midsize and large bank populations.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Tami Newett 202 649-6972 tami.newett@occ.treas.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
08/08/2016
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