[Federal Register Volume 62, Number 187 (Friday, September 26, 1997)]
[Notices]
[Pages 50655-50656]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-25523]


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DEPARTMENT OF THE TREASURY


Departmental Offices; Proposed Collections; Comment Requests

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 burdens, invites the general public and 
other Federal agencies to comment on two information collections that 
are due for renewed approval by the Office of Management and Budget. 
The Office of International Financial Analysis within the Department of 
the Treasury is soliciting comments concerning Treasury International 
Capital Form BL-3, Intermediary's Notification of Foreign Borrowing 
Denominated in Dollars; and Treasury International Capital Form CM, 
Dollar Deposit and Certificate of Deposit Claims on Banks Abroad.

DATES: Written comments should be received on or before November 25, 
1997 to be assured of consideration.

ADDRESSES: Direct all written comments to Gary A. Lee, Manager, 
Treasury International Capital Reporting System, Department of the 
Treasury, Room 5464, 1500 Pennsylvania Avenue NW, Washington DC 20220.

FOR FURTHER INFORMATION CONTACT:
Requests for additional information or copies of the forms and 
instructions should be directed to Gary A. Lee, Manager, Treasury 
International Capital Reporting System, Department of the Treasury, 
Room 5464, 1500 Pennsylvania Avenue NW, Washington DC 20220, (202) 622-
2270.

SUPPLEMENTARY INFORMATION:

    Titles: Treasury International Capital Form BL-3, Intermediary's 
Notification of Foreign Borrowing Denominated in Dollars; and Treasury 
International Capital Form CM, Dollar Deposit and Certificate of 
Deposit Claims on Banks Abroad.
    OMB Numbers: 1505-0088 and 1505-0023.
    Abstracts: Forms BL-3 and CM are part of the Treasury International 
Capital (TIC) reporting system, which is required by law (22 USC 286f; 
22 USC 3103; EO 10033; 31 CFR 128), and are designed to collect timely 
information on international portfolio capital movements. Form BL-3 is 
a monthly report used to strengthen compliance with existing TIC 
reporting requirements, whereby a U.S. bank advises its domestic 
nonbank customers of their responsibilities to report as liabilities on 
TIC Form CQ-1 their loans from foreigners that the bank will not 
include among its reportable custody liabilities to foreigners on TIC 
Form BL-2. Form CM is a monthly report whereby nonbanking enterprises 
in the U.S. report their total dollar deposit and certificate of 
deposit claims on foreign banks. This information is necessary for 
compiling the U.S. balance of payments accounts, for calculating the 
U.S. international investment position, and for use in formulating U.S. 
international financial and monetary policies.
    Current Actions: No changes to reporting requirements for either 
form are proposed at this time.
    Type of Review: Extensions.
    Affected Public: Business or other for-profit organizations.
    Form BL-3 (1505-0088).
    Estimted Number of Respondents: 25
    Estimated Average Time per Respondent: 30 minutes per respondent 
per filing.
    Estimated Total Annual Burden Hours: 150 hours, based on twelve 
reporting periods per year.
    Form CM (1505-0023).
    Estimated Number of Respondents: 175
    Estimated Average Time per Respondent: 30 minutes per respondent 
per filing.

[[Page 50656]]

    Estimated Total Annual Burden Hours: 1,050 hours, based on twelve 
reporting periods per year.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the requests for OMB approval. 
All comments will become a matter of public record. The public is 
invited to submit written comments concerning: Whether Forms BL-3 and 
CM are necessary for the proper performance of the functions of the 
Office, including whether the information collected has practical uses; 
the accuracy of the above burden estimates; ways to enhance the 
quality, usefulness, and clarity of the information to be collected; 
ways to minimize the reporting and/or recordkeeping burdens on 
respondents, including the use of information technologies to automate 
the collection of the data; and estimates of capital or start-up costs 
of operation, maintenance, and purchases of services to provide 
information.
Thomas Ashby McCown,
Director, Office of International Financial Analysis.
[FR Doc. 97-25523 Filed 9-25-97; 8:45 am]
BILLING CODE 4810-25-M