[Federal Register Volume 61, Number 116 (Friday, June 14, 1996)]
[Notices]
[Pages 30281-30282]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-15101]



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DEPARTMENT OF THE TREASURY


Proposed Collection: Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to comment on continuing information 
collections, as required by the Paperwork Reduction Act of 1995, Public 
Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Office of 
International Financial Analysis within the Department of the Treasury 
is soliciting comments concerning Foreign Currency Forms FC-1 (OMB NO. 
1505-0012) Weekly Consolidated Foreign Currency Report of Major Market 
Participants, FC-2 (OMB No. 1505-0010) Monthly Consolidated Foreign 
Currency Report of Major Market Participants, and FC-3 (OMB No. 1505-
0014) Quarterly Consolidated Foreign Currency Report. The reports are 
mandatory.

DATES: Written comments should be received on or before August 12, 1996 
to be assured of consideration.

ADDRESS: Direct all written comments to T. Ashby McCown, Director, 
Office of International Financial Analysis, Department of the Treasury 
1500 Pennsylvania Avenue, N.W., Room 5124, Washington, D.C. 20220, 
Telephone (202) 622-2250.

FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the forms and 
instructions should be directed to T. Ashby McCown, Director, Office of 
International Financial Analysis, Department of the Treasury, 
Washington, D.C. 20220, Telephone (202) 622-2250, FAX (202) 622-0607.

SUPPLEMENTARY INFORMATION:

    Title: Weekly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-1.
    OMB Number: 1505-0012.

    Title: Monthly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-2.
    OMB Number: 1505-0010.

    Title: Quarterly Consolidated Foreign Currency Report, Foreign 
Currency Form FC-3.
    OMB Number: 1505-0014.

    Abstract: Foreign Currency Forms FC-1, FC-2, and FC-3 are required 
by law, Public Law 93-110 (31 U.S.C. 5315 and 5321(a)(3)), which 
directs the Secretary of the Treasury to prescribe regulations 
requiring reports on foreign currency transactions conducted by a 
United States person or foreign person controlled by a United States 
person. The regulations governing forms FC-1, FC-2, and F-3 are 
contained in Title 31 Part 128 of the Code of Federal Regulations (31 
C.F.R. 128) which were published in the Federal Register on

[[Page 30282]]

November 2, 1993 (58 F.R. 58494-58497).
    Current Actions: Minor changes made to instructions for FC-1, FC-2, 
and FC-3.
    Type of Review: Extension.
    Affected Public: Business or other for-profit.
    Estimated Number of Respondents:

Foreign Currency Form FC-1: 37 respondents
Foreign Currency Form FC-2: 7 respondents
Foreign Currency Form FC-3: 60 respondents

    Estimated Time Per Respondent:

Foreign Currency Form FC-1: One (1) hour per respondent per response
Foreign Currency Form FC-2: Four (4) hours per respondent per response
Foreign Currency Form FC-3: Eight (8) hours per respondent per response

    Estimated Total Annual Burden Hours:

Foreign Currency Form FC-1: 1,924 hours, based on 52 reporting periods 
per year.
Foreign Currency Form FC-2: 336 hours, based on 12 reporting periods 
per year.
Foreign Currency Form FC-3: 1,920 hours, based on 4 reporting periods 
per year.

REQUEST FOR COMMENTS: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) whether Foreign Currency Forms FC-1, FC-2, FC-3 are necessary 
for the proper performance of the functions of the Office, including 
whether the information has practical uses; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; and (d) ways to minimize the burden of the collection of 
information on respondents, including the use of automated collection 
techniques or other forms of information technology.

    Dated: June 10, 1996.
T. Ashby McCown,
Director, Office of International Financial Analysis.
[FR Doc. 96-15101 Filed 6-13-96; 8:45 am]
BILLING CODE 4810-25-M