[Federal Register Volume 79, Number 112 (Wednesday, June 11, 2014)]
[Notices]
[Pages 33641-33642]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-13629]
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DEPARTMENT OF THE TREASURY
Survey of Foreign Ownership of U.S. Securities as of June 30,
2014
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice of reporting requirements.
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SUMMARY: By this Notice, the Department of the Treasury is informing
the public that it is conducting a mandatory survey of foreign
ownership of U.S. securities as of June 30, 2014. This mandatory survey
is conducted under the authority of the International Investment and
Trade in Services Survey Act (22 U.S.C. 3101 et seq.) This Notice
constitutes legal notification to all United States persons (defined
below) who meet the reporting requirements set forth in this Notice
that they must respond to, and comply with, this survey. Additional
copies of the reporting forms SHL (2014) and instructions may be
printed from the Internet at: http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-sh.aspx.
Definition: A U.S. person is any individual, branch, partnership,
associated group, association, estate, trust, corporation, or other
organization (whether or not organized under the laws of any State),
and any government (including a foreign government, the United States
Government, a State or local government, and any agency, corporation,
financial institution, or other entity or instrumentality thereof,
including a government-sponsored agency), who resides in the United
[[Page 33642]]
States or is subject to the jurisdiction of the United States.
Who Must Report: The following U.S. persons must report on this
survey:
(1) U.S. persons who manage the safekeeping of U.S. securities (as
specified below) for foreign persons. These U.S. persons, who include
the affiliates in the United States of foreign entities, and are
henceforth referred to as U.S. custodians, must report on this survey
if the total market value of the U.S. securities whose safekeeping they
manage on behalf of foreign persons--aggregated over all accounts and
for all U.S. branches and affiliates of their firm--is $100 million or
more as of June 30, 2014.
(2) U.S. persons who issue securities, if the total market value of
their securities owned directly by foreign persons--aggregated over all
securities issued by all U.S. subsidiaries and affiliates of the firm,
including investment companies, trusts, and other legal entities
created by the firm--is $100 million or more as of June 30, 2014. U.S.
issuers should report only foreign holdings of their securities which
are directly held for foreign residents, i.e., where no U.S.-resident
custodian or central securities depository is used. Securities held by
U.S. nominees, such as bank or broker custody departments, should be
considered to be U.S.-held securities as far as the issuer is
concerned.
(3) U.S. persons who receive a letter from the Federal Reserve Bank
of New York that requires the recipient of the letter to file Schedule
1, even if the recipient is under the exemption level of $100 million
and need only report ``exempt'' on Schedule 1.
What To Report: This report will collect information on foreign
resident holdings of U.S. securities, including equities, short-term
debt securities (including selected money market instruments), and
long-term debt securities.
How To Report: Copies of the survey forms and instructions, which
contain complete information on reporting procedures and definitions,
may be obtained at the Web site address given above in the Summary, or
by contacting the survey staff of the Federal Reserve Bank of New York
at (212) 720-6300 or (646) 720-6300, email: [email protected]. The
mailing address is: Federal Reserve Bank of New York, Statistics
Function, 4th Floor, 33 Liberty Street, New York, NY 10045-0001.
Inquiries can also be made to the Federal Reserve Board of Governors,
at (202) 452-3476, or to Dwight Wolkow, at (202) 622-1276, or by email:
[email protected].
When To Report: Data should be submitted to the Federal Reserve
Bank of New York, acting as fiscal agent for the Department of the
Treasury, by August 29, 2014.
Paperwork Reduction Act Notice: This data collection has been
approved by the Office of Management and Budget (OMB) in accordance
with the Paperwork Reduction Act and assigned control number 1505-0123.
An agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a valid
control number assigned by OMB. The estimated average annual burden
associated with this collection of information is 486 hours per report
for the largest custodians of securities, 110 hours per report for the
largest issuers of securities that have data to report and are not
custodians, and 16 hours per report for those who file as exempt in a
benchmark survey. Comments concerning the accuracy of this burden
estimate and suggestions for reducing this burden should be directed to
the Department of the Treasury, Office of International Affairs,
Attention Administrator, International Portfolio Investment Data
Reporting Systems, Room 5422, Washington, DC 20220, and to OMB,
Attention Desk Officer for the Department of the Treasury, Office of
Information and Regulatory Affairs, Washington, DC 20503.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting
Systems.
[FR Doc. 2014-13629 Filed 6-10-14; 8:45 am]
BILLING CODE 4810-25-P