[Federal Register Volume 81, Number 102 (Thursday, May 26, 2016)]
[Notices]
[Pages 33579-33580]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-12272]
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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 revisions of an information
collection that are proposed for approval by the Office of Management
and Budget. The Office of International Affairs within the Department
of the Treasury is soliciting comments concerning the revisions of the
Treasury International Capital (TIC) Forms BC, BL-1, BL-2, BQ-1, BQ-2,
and BQ-3 (called the ``TIC B forms'').
DATES: Written comments should be received on or before July 25, 2016
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).
[[Page 33580]]
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:
Titles: Treasury International Capital (TIC) Form BC ``Monthly
Report of U.S. Dollar Claims of Financial Institutions on Foreign
Residents;'' TIC BL-1 ``Monthly Report of U.S. Dollar Liabilities of
Financial Institutions to Foreign Residents;'' TIC BL-2 ``Monthly
Report of Customers' U.S. Dollar Liabilities to Foreign Residents;''
TIC BQ-1 ``Quarterly Report of Customers' U.S. Dollar Claims on Foreign
Residents;'' TIC BQ-2 ``Part 1: Quarterly Report of Foreign Currency
Liabilities and Claims of Financial Institutions and of their Domestic
Customers' Foreign Currency Claims with Foreign Residents'' and ``Part
2: The Report of Customers' Foreign Currency Liabilities to Foreign
Residents;'' and TIC BQ-3 ``Quarterly Report of Maturities of Selected
Liabilities and Claims of Financial Institutions with Foreign
Residents.''
OMB Numbers: 1505-0017 (TIC BC), 1505-0019 (TIC BL-1), 1505-0018
(TIC BL-2), 1505-0016 (TIC BQ-1), 1505-0020 (TIC BQ-2), and 1505-0189
(TIC BQ-3).
Abstract: Forms BC, BL-1, BL-2, BQ-1, BQ-2, BQ-3 are 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
128) and are designed to collect timely information on international
portfolio capital movements. These forms are filed by all U.S.-
resident financial institutions. On the monthly forms, these
organizations report their own claims on (BC), their own liabilities to
(BL-1), and their U.S. customers' liabilities to (BL-2) foreign
residents, denominated in U.S. dollars. On the quarterly forms, these
organizations report their U.S.-resident customers' U.S. dollar claims
on foreign residents (BQ-1), and their own and their domestic
customers' claims and liabilities with foreign residents, where all
claims and liabilities are denominated in foreign currencies (BQ-2). On
the quarterly BQ-3 form, these organizations report the remaining
maturities of all their own U.S. dollar and foreign currency
liabilities and claims (excluding securities) with foreign residents.
This information is necessary for compiling the U.S. balance of
payments accounts and the U.S. international investment position, and
for use in formulating U.S. international financial and monetary
policies.
Current Actions: No changes to the Forms are proposed. There is one
change in the instructions for all TIC B Forms.
The following changes apply to all TIC B forms.
Beginning with the monthly TIC B reports as of September 30, 2016
and the quarterly TIC B reports as of September 30, 2016, the ``Who
Must Report'' section of the instructions is revised to list out
separately Intermediate Holding Companies (IHCs), as defined by
Regulation YY, 12 CFR 252, and to clarify that IHCs should follow the
same consolidation rules that are applicable to Bank Holding Companies
(BHCs), Financial Holding Companies (FHCs), and Savings and Loan
Holding Companies.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Forms: BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3.
Estimated Number of Respondents: BC, 385; BL-1, 378; BL-2, 103; BQ-
1, 100; BQ-2, 199 and BQ-3, 154.
Estimated Average Time per Respondent per Filing: BC, 9.9 hours;
BL-1, 7.1 hours; BL-2, 8.25 hours; BQ-1, 3.1 hours; BQ-2, 6.6 hours;
and BQ-3, 4.0 hours. The average time varies, and is estimated to be
generally twice as many hours for major data reporters as for other
reporters.
Estimated Total Annual Burden Hours: BC, 45,738 hours for 12
reports per year; BL-1, 32,206 hours for 12 reports per year; BL-2,
10,197 hours for 12 reports per year; BQ-1, 240 hours for 4 reports per
year, BQ-2, 5,254 hours for 4 reports per year; and BQ-3, 2,464 hours
for 4 reports 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 Forms BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3 are
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. 2016-12272 Filed 5-25-16; 8:45 am]
BILLING CODE 4810-25-P