December 6, 1993
                                            DO-93-037
                                        
MEMORANDUM

TO:       Designated Agency Ethics Officials

FROM:     Stephen D. Potts
          Director

SUBJECT:  Elimination of bank account reporting and related matters
          on the SF 450 (Confidential Financial Disclosure Form)


     On November 30, 1993, the Office of Government Ethics (OGE)
published in the Federal Register a final rule amending 5 CFR
part 2634 to eliminate the disclosure requirement for information
about bank accounts and certain other nonconflicting assets on the
SF 450.  See 58 Federal Register 63023-63024, attached.  This
applies only to the confidential financial disclosure system; for
public filers, the statutory requirement to disclose this
information on the SF 278 remains in effect.

     The final amendment, which is effective immediately, 
virtually tracks the proposed rule published three months ago. 
Therefore, for any SF 450 submitted on or after November 30, 1993,
confidential filers are no longer required to report assets or
income related to accounts in banks, savings and loan associations,
credit unions, and similar depository financial institutions; money
market mutual funds and accounts; U.S. Government obligations, such
as Treasury bonds, bills, notes, and U.S. savings bonds; and U.S.
Government-issued securities.  Until OGE can revise the SF 450
instructions or issue an addendum to reflect this change, agencies
should advise filers by memorandum or other suitable means.

     This rule change represents OGE's determination, based on
agency and filer input, that for most employees and agencies the
described information is not necessary to ensure an employee's
performance of duties free of conflicts or other ethical concerns. 
Therefore, with regard to filers who may have omitted this
information from an SF 450 submitted prior to November 30, 1993,
agencies should carefully review whether such an omission, standing
alone, is material, before proceeding with any disciplinary action
based on the omission.

     If an agency finds unique circumstances that may require
disclosure by its confidential filers of the information exempted
under this rule change, it should contact OGE as soon as possible,
to discuss an agency supplementary rule.

(TEBBS Note: Federal Register attachment not available in "text" format)