[Federal Register Volume 64, Number 85 (Tuesday, May 4, 1999)]
[Notices]
[Page 23899]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-11093]


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DEPARTMENT OF THE TREASURY


Departmental Offices 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 burdens, invites the general public and 
other Federal agencies to comment on an information collection that is 
due for renewed approval by the Office of Management and Budget. The 
Office of Program Services and the Office of Foreign Exchange 
Operations within the Department of the Treasury are soliciting 
comments concerning recordkeeping requirements associated with 
Reporting of International Capital and Foreign Currency Transactions 
and Positions--31 CFR Part 128.

DATES: Written comments should be received on or before July 6, 1999 to 
be assured of consideration.

ADDRESSES: Direct all written comments on international capital 
transactions and positions to Dwight Wolkow, administrator, 
International Portfolio Investment Data Systems, Department of the 
Treasury, Room 5205, 1500 Pennsylvania Avenue NW, Washington DC 20220. 
Direct all written comments on foreign currency transactions and 
positions to Gregory Berger, Deputy Director, Office of Foreign 
Exchange Operations, Department of the Treasury, Room 2409, 1500 
Pennsylvania Avenue NW, Washington DC 20220.

FOR FURTHER INFORMATION CONTACT:
Requests for additional information on international capital 
transactions and positions or copies of the forms and instructions 
should be directed to Dwight Wolkow, Administrator, International 
Portfolio Investment Data Systems at the above address, or by calling 
(202) 622-1276. Requests for additional information on foreign currency 
transactions and positions or copies of the forms and instructions 
should be directed to Gregory Berger, Office of Foreign Exchange 
Operations, Department of the Treasury, Room 2409, 1500 Pennsylvania 
Avenue NW, Washington DC 20220, or by calling (202) 622-2650.

SUPPLEMENTARY INFORMATION: 
    Title: 31 CFR Part 128, Reporting of International Capital and 
Foreign Currency Transactions and Positions.
    OMB Number: 1505-0149.
    Abstract: 31 CFR Part 128 establishes general guidelines for 
reporting on United States claims on and liabilities to foreigners; on 
transactions in securities with foreigners; and on the monetary 
reserves of the United States as provided for by the International 
Investment and Trade in Services Survey Act and the Bretton Woods 
Agreements Act. In addition, 31 CFR Part 128 establishes general 
guidelines for reporting on the nature and source of foreign currency 
transactions of large U.S. business enterprises and their foreign 
affiliates. This regulation includes a recordkeeping requirement, 
Sec. 128.5, which is necessary to enable the Office of Program Services 
and the Office of Foreign Exchange Operations to verify reported 
information and to secure additional information concerning reported 
information as may be necessary. The recordkeepers are U.S. persons 
required to file reports covered by these regulations.
    Current Actions: No changes to recordkeeping requirements are 
proposed at this time.
    Type of Review: Extension.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 2,000.
    Estimated Average Time per Respondent: 3 hours per respondent per 
filing.
    Estimated Total Annual Burden Hours: 6,000 hours, based on one 
response 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: whether 31 CFR 
128.5 is necessary for the proper performance of the functions of the 
Offices, 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.
Timothy D. DuLaney,
Director, Office of Foreign Exchange Operations.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 99-11093 Filed 5-3-99; 8:45 am]
BILLING CODE 4810-25-M