[Federal Register Volume 65, Number 116 (Thursday, June 15, 2000)]
[Notices]
[Pages 37602-37603]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-15067]


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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 an information collection that is 
due for revision approval by the Office of Management and Budget. The 
Office of Program Services within the Department of the Treasury is 
soliciting comments concerning Treasury International Capital Form BQ-
2, Part 1; Liabilities to, and Claims on, Foreigners of Reporting Bank, 
Broker or Dealer, and Part 2: domestic Customers' Claims on Foreigners 
Held by Reporting Bank, Broker or Dealer, Denominated in Foreign 
Currencies.

DATES: Written comments should be received on or before August 14, 
2000.

ADDRESSES: Direct all written comments to Dwight Wolkow, Administrator, 
International Portfolio Investment Data Systems, Department of the 
Treasury, Room 5205 Mt, 1500 Pennsylvania Avenue NW, Washington, DC 
20220.

FOR FURTHER INFORMATION CONTACT: Copies of the proposed revised form 
and instructions are available at the Related Links section of 
Treasury's TIC Capital Movements web site: http://www.ustreas.gob/tic/. 
Requests for additional information should be directed to Dwight 
Wolkow, Administrator, International Portfolio Investment Data Systems, 
Department of the Treasury, Room 5205 M, 1500 Pennsylvania Avenue NW., 
Washington, DC 20220, phone (202) 622-1276, FAX (202) 622-7448.

SUPPLEMENTARY INFORMATION:
    Titles: Treasury International Capital Form BQ-2, Part 1: 
Liabilities to, and Claims on, Foreigners of Reporting Bank, Broker or 
Dealer, and Part 2: Domestic Customers' Claims on Foreigners Held by 
Reporting Bank, Broker or Dealer, Denominated in Foreign Currencies.
    OMB Control Number: 1505-0020
    Abstract: Form BQ-2 is required by law (22 U.S.C. 286f; 22 U.S.C. 
3103; E.O. 10033; 31 CFR part 128) and is designed to collect timely 
information on international portfolio capital movements. Form BQ-2 is 
a quarterly report that covers the liabilities to and claims on 
foreigners of banks, brokers and dealers, and the custody claims on 
foreigners of banks, brokers and dealers, that are denominated in 
foreign currencies. This information is necessary for compiling the 
U.S. balance of payments accounts, for calculating the U.S. 
international investment position, and for formulating U.S. 
international financial and monetary policies.
    Current Actions: (a) The exemption level for reporting positions 
will be raised from $15 million at end-quarter; institutions will be 
exempt from reporting if they had both: (1) Less than $50 million at 
end-quarter to report; and (2) they had less than $25 million at end-
quarter to report vis-a-vis all counterparties in any one country; (b) 
There will be a reduction in the reporting of International Banking 
Facilities (IBFs) so that banking organizations will report on a 
consolidated basis. An addendum row will be added to the bottom of Part 
1 of the form to report total IBF liabilities and total IBF assets by 
sector/instrument; (c) The geographic detail will increase slightly by 
adding lines for Luxembourg, the combined Channel Islands & Isle of 
Man, New Zealand, the Caribbean region, and the European Central Bank. 
The British West Indies line will be replaced with a Cayman Islands 
line; (d) Memorandum rows will be added on the BQ-2 form for the 
reporting of foreign currency transactions by sector/instrument for the 
following currencies: Euro, Pound Sterling, Yen, and Canadian Dollar. 
The form will be redesigned so it will be available for downloading 
from the TIC web site. Theses changes will be effective as of January 
31, 2001.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.

[[Page 37603]]

Form BQ-2 (1505-0020)

    Estimated Number of Respondents: 90.
    Estimated Average Time per Respondent: Four and one/half (4.5) 
hours per respondent per filing.
    Estimated Total Annual Burden Hours: 1,620 hours, based on four 
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 Form BQ-2 is 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 record keeping 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.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 00-15067 Filed 6-14-00; 8:45 am]
BILLING CODE 4810-25-M