Recordkeeping Requirements Associated with Regulation GG

Forms and Documents

Document Name	Status
FR4026_20180822_omb.pdf Supporting Statement A	2018-08-22

IC Document Collections

IC ID	Document Title	Status
218058	De novo institutions	Unchanged
199144	Money transmitting business operators	Modified
187162	Credit unions	Modified
182209	Card system operators	Unchanged
182208	Depository institutions	Modified

ICR Details

OMB Control No: 7100-0317	ICR Reference No: 201808-7100-004
Status: Active	Previous ICR Reference No: 201712-7100-018
Agency/Subagency: FRS	Agency Tracking No: FR 4026
Title: Recordkeeping Requirements Associated with Regulation GG
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Delegated
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/22/2018
	Date Received in OIRA: 08/22/2018
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2021	36 Months From Approved	08/31/2018
Responses	5,520	0	5,520
Time Burden (Hours)	44,436	0	44,436
Cost Burden (Dollars)	0	0	0

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Abstract: Regulation GG - Prohibition on Funding of Unlawful Internet Gambling (12 CFR Part 233) includes requirements for all non-exempt participants to establish certain policies and procedures related to the Unlawful Internet Gambling Enforcement Act of 2006 (the Act). The collection of information is set out in sections 5 and 6 of Regulation GG. Section 5 requires all non-exempt participants in the designated payment systems to establish and implement policies and procedures reasonably designed to identify and block, or otherwise prevent or prohibit, transactions restricted by the Act. In addition, section 5 states that a participant in a designated payment system may rely on policies and procedures established by the designated payment system if the system’s policies and procedures otherwise comply with the requirements of the regulation. Section 6 sets out non-exclusive examples of policies and procedures for each designated payment system that the Board and the Department of the Treasury (the agencies) believe are reasonably designed to prevent or prohibit restricted transactions for non-exempt participants in the system.

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Authorizing Statute(s): US Code: 31 USC 5364(a) Name of Law: Unlawful Internet Gambling Enforcement Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 16857	04/17/2018
30-day Notice:	Federal Register Citation:	Citation Date:
	83 FR 42121	08/20/2018
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 5

IC Title	Form No.	Form Name
Depository institutions
Credit unions
De novo institutions
Money transmitting business operators
Card system operators

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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	5,520	5,520	0	0	0	0
Annual Time Burden (Hours)	44,436	44,436	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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

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Common Form ICR:  No

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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: 08/22/2018

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