Estimated Number of Respondents:5,243.
Estimated Average Time per Response:1 hour.
Frequency of Response:26.2.
Total Annual Burden:137,467 hours.
General Description of Collection:In 1985, the FDIC, the Federal Reserve Board (FRB), the Office of the Comptroller of the Currency (OCC), the National Credit Union Administration (NCUA) (collectively “the Agencies”), issued procedures to be used by banks and certain other financial institutions operating in the United States to report known or suspected criminal activities to the appropriate law enforcement and the Agencies. Beginning in 1994, the Agencies and the Financial Crimes Enforcement Network (FinCEN) undertook a redesign of the reporting process and developed the Suspicious Activity Report, which became effective in April 1996. The report is authorized by the following regulations: 12 CFR 353.3 (FDIC); 12 CFR 21.11 and 12 CFR 163.180 (OCC); 12 CFR 208.62(c), 211.5(k), 211.24(f), and 225.4(f) (FRB); 12 CFR 748.1 (NCUA); and 31 CFR 103.18 (FinCEN). The regulations were issued under the authority contained in the following statutes: 12 U.S.C1818-1820 (FDIC); 12 U.S.C. 248(a)(1), 625,1818, 1844(c), 3105(c)(2) and 3106(a) (FRB); 12 U.S.C. 93a, 1463, 1464, 1818, 1881-84, 3401-22, 31 U.S.C. 5318 (OCC); 12 U.S.C. 1766(a), 1789(a) (NCUA); and 31 U.S.C. 5318(g) (FinCEN).
Request for Comment
Comments are invited on: (a) Whether the collection of information is necessary for the proper performance of the FDIC's functions, including whether the information has practical utility; (b) the accuracy of the estimates of the burden of the information collection, including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the information collection on respondents, including through the use of automated collection techniques or other forms of information technology. All comments will become a matter of public record.
Dated at Washington, DC, this 7th day of August, 2012.
Federal Deposit Insurance Corporation.
Robert E. Feldman,