[Federal Register Volume 79, Number 29 (Wednesday, February 12, 2014)]
[Notices]
[Pages 8539-8540]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-03027]
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DEPARTMENT OF THE TREASURY
Proposed Collections; Comment Requests
AGENCY: Departmental Offices; Department of the Treasury.
SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork burdens, invites the general public and
other Federal agencies to comment on the revision of an information
collection that is to be proposed for approval by the Office of
Management and Budget. The Office of International Affairs of the
Department of the Treasury is soliciting comments concerning Treasury
International Capital Form S, Purchases and Sales of Long-Term
Securities by Foreign Residents. The Current Actions below raise the
exemption level for reporting.
DATES: Written comments should be received on or before April 14, 2014
to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, International
Portfolio Investment Data Systems, Department of the Treasury, Room
5422, 1500 Pennsylvania Avenue NW., Washington, DC 20220. In view of
possible delays in mail delivery, please also notify Mr. Wolkow by
email ([email protected]), FAX (202-622-2009) or telephone
(202-622-1276).
FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and
instructions are available on the Treasury's TIC Forms Web page, http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx. Requests for additional information should be directed to
Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital Form S, Purchases and Sales
of Long-term Securities by Foreign-Residents.
OMB Control Number: 1505-0001
Abstract: Form S is part of the Treasury International Capital
(TIC) reporting system, which is required by law (22 U.S.C. 286f; 22
U.S.C. 3103; E.O. 10033; 31 CFR part 128), and is designed to collect
timely information on international portfolio capital movements. Form S
is a monthly report used to cover transactions in long-term marketable
securities undertaken directly with foreigners by banks, other
depository institutions, brokers, dealers, underwriting groups, funds
and other individuals and institutions. This information is used by the
U.S. Government in the formulation of international financial and
monetary policies and for the preparation of the U.S. balance of
payments accounts and the U.S. international investment position.
Current Actions: (a) The exemption level for total reportable
transactions will be raised from $50 million to $350 million. More
specifically, an institution must file the TIC Form S monthly if the
consolidated total of all reportable transactions in purchases or sales
of long-term securities amounts to or exceeds the exemption level
during the reporting month. (b) The Column-By-Column instructions for
Columns 3 and 4 of Form S will be changed to be consistent with the
language found in the glossary for ``United States Government Agency
securities'', ``Columns 3 and 4--Report purchases (column 3) and sales
(column 4) by foreign residents of long-term debt securities (bonds,
notes, debentures and asset-backed securities (mortgage-backed
securities and all other asset-backed securities)) guaranteed by or are
the obligations of United States Government corporations or Federally-
Sponsored Agencies. (See glossary entry for United States Government
Agency securities).'' (c) The glossaries for all Treasury International
Capital (``TIC'') reports will be consolidated into a single document
which will provide
[[Page 8540]]
more consistency across the TIC system. As a result, the TIC S
reporting instructions will not include a glossary but will point to
the separate consolidated Glossary document on the Treasury Web site;
(d) The Form S reports may be submitted electronically using the
Federal Reserve's ``Reporting Central'', which replaces the previous
Federal Reserve System's Internet Electronic Submission (IESUB) system.
[Note: some other clarifications may be made in the instructions and
glossary.] (e) These changes will be effective beginning with the
reports as of June 30, 2014.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Form: S (1505-0001).
Estimated Number of Respondents: 188.
Estimated Average Time per Respondent: Six and three tenth hours
per respondent per filing. This estimate includes the Current Actions
proposed above. The estimated average time per respondent varies from
10.8 hours for the approximately 30 major reporters to 5.4 hours for
the other reporters.
Estimated Total Annual Burden Hours: 14,130 hours, based on 12
reporting periods per year.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for Office of
Management and Budget approval. All comments will become a matter of
public record. The public is invited to submit written comments
concerning: (a) Whether Form S is necessary for the proper performance
of the functions of the Office, including whether the information will
have practical uses; (b) the accuracy of the above estimate of the
burdens; (c) ways to enhance the quality, usefulness and clarity of the
information to be collected; (d) ways to minimize the reporting and/or
record keeping burdens on respondents, including the use of information
technologies to automate the collection of the data; and (e) estimates
of capital or start-up costs of operation, maintenance and purchase of
services to provide information.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 2014-03027 Filed 2-11-14; 8:45 am]
BILLING CODE 4810-25-P