[Federal Register Volume 66, Number 83 (Monday, April 30, 2001)]
[Notices]
[Pages 21444-21445]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-10610]


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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 reinstatement approval by the Office of 
Management and Budget. The Office of Program Services within the 
Department of the Treasury is soliciting comments concerning the Survey 
of U.S. Ownership of Foreign Securities as of December 31, 2001.

DATES: Written comments should be received on or before June 
29, 2001.

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

FOR FURTHER INFORMATION CONTACT: Requests for additional 
information 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 emailing dwight/[email protected], or by faxing (202) 622-7448, or by calling (202) 
622-1276.

SUPPLEMENTARY INFORMATION:
    Title: Survey of U.S. Ownership of Foreign Securities as of 
December 31, 2001.
    OMB Number: 1505-0146.
    Abstract: These forms are used to conduct periodic surveys 
of holdings by U.S. residents of foreign securities for portfolio 
investment purposes. These data are used by the U.S. Government in the 
formulation of international and financial policies and for the 
computation of the U.S. balance of payments and U.S. international 
investment position. The last such survey was conducted as of December 
31, 1997, and clearly demonstrated the need for such periodic surveys 
by significantly altering the previously estimated level of U.S. 
holdings of foreign long-term securities.
    This survey is also part fon an internationally coordinated effort 
under

[[Page 21445]]

the auspices of the International Monetary Fund to improve data on 
securities worldwide. These data are believed to be in serious error on 
a worldwide basis. Most of the major industrial and financial countries 
will be participating in this survey.
    Current Actions: Data will be collected on short-term securities as 
well as long-term securities to conform to IMF survey standards. The 
exemption level for reporting will be raised from $20 million to $50 
million of holdings by U.S. residents of foreign securities. Financial 
derivatives will be excluded. The exchange rate item will be replaced 
with requests for some items valued both in U.S. dollars and in foreign 
currency to improve data quality without significantly increasing 
respondent burden. The forms and instructions will be restructured to 
improve clarity. Data will be collected primarily from custodians of 
securities, and from major investors if they do not employ U.S. 
custodians. Investors employing U.S. custodians need only identify 
their custodians and the amounts entrusted to them.
    Type of Review: Reinstatement with change.
    Affected Public: Business/Financial Institutions.
    Forms: OMB No. 1505-0146, Schedule 1, Schedule 2, and 
Schedule 3.
    Estimated Number of Respondents: 2,360.
    Estimated Time per Respondent: 384 hours on average for 
custodians of securities providing detailed information, 104 hours on 
average for end-investors providing detailed information, 40 hours on 
average for reporters employing U.S. custodians, and 16 hours on 
average for reporters claiming exemptions. Custodians with less than 
$50 million foreign long-term securities are exempt from reporting on 
the survey. The amount of time required to complete the survey will 
vary depending on the amount of data to report.
    Estimated Total Burden: 108,300 hours.
    Frequency of Response: At least once every three years.

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 
the Survey is necessary for the proper performance of the functions of 
the Office, including whether the information shall 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. 01-10610 Filed 4-27-01; 8:45 am]
BILLING CODE 4810-25-M