Procedures for Monitoring Bank Secrecy Act Compliance

Forms and Documents

Document Name	Status
Justification Memo 0087 - Non substatntive revision to Correct Estimated Cost Burden.docx Justification for No Material/Nonsubstantive Change	2019-04-22
FR2-0087 Procedures for Monitotring BSA Compliance 82 FR 23569 May 23 2017.pdf Supplementary Document	2017-05-23
FR1-0087 Procedures for Monitoring Bank Secrecy Act Compliance 82 FR 10004 February 9 2017.pdf Supplementary Document	2017-05-23
SPST 0087 Procedures for Monitoring BSA Compliance 2017 Extension.doc Supporting Statement A	2017-05-23

IC Document Collections

IC ID	Document Title	Status
226973	Procedures for Monitoring BSA Compliance Large Institutions	Modified
226972	Procedures to Monitor BSA Compliance Medium Institutions	Modified
226971	Procedures for Monitoring BSA Compliance Small Institutions	Modified

ICR Details

OMB Control No: 3064-0087	ICR Reference No: 201904-3064-005
Status: Historical Active	Previous ICR Reference No: 201702-3064-008
Agency/Subagency: FDIC	Agency Tracking No:
Title: Procedures for Monitoring Bank Secrecy Act Compliance
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 07/02/2019
	Date Received in OIRA: 04/22/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2020	08/31/2020	08/31/2020
Responses	3,787	0	3,787
Time Burden (Hours)	305,185	0	305,185
Cost Burden (Dollars)	0	0	16,523,222

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Abstract: All insured state nonmember banks must establish and maintain procedures designed to assure and monitor their compliance with the requirements of the Bank Secrecy Act (31 USC 5311 et seq.) and the Department of Treasury's implementing regulations at 31 CFR 103.

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Authorizing Statute(s): US Code: 12 USC 1818(s) Name of Law: Federal Deposit Insurance Act
   US Code: 31 USC 5311 Name of Law: Bank Secrecy Act
   US Code: 12 USC 5301 et seq. Name of Law: Dodd-Frank Wall Street Reform And Consumer Protection 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:
	82 FR 10004	02/09/2017
30-day Notice:	Federal Register Citation:	Citation Date:
	82 FR 23569	05/23/2017
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Procedures to Monitor BSA Compliance Medium Institutions
Procedures for Monitoring BSA Compliance Large Institutions
Procedures for Monitoring BSA Compliance Small Institutions

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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	3,787	3,787	0	0	0	0
Annual Time Burden (Hours)	305,185	305,185	0	0	0	0
Annual Cost Burden (Dollars)	0	16,523,222	0	0	-16,523,222	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]? Yes

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: 04/22/2019

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