[Federal Register Volume 67, Number 77 (Monday, April 22, 2002)]
[Notices]
[Pages 19616-19617]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-9600]


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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 invites the general public and 
other Federal agencies to comment on a new information collection that 
is proposed for 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 (TIC) 
Form BQ-3, Report of Maturities of Selected Liabilities of Depository 
Institutions, Brokers and Dealers to Foreigners.

DATES: Written comments should be received on or before June 21, 2002 
to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
5457 MT, 1500 Pennsylvania Avenue NW., Washington DC 20220. In view of 
delays in mail delivery due to recent events, please also notify Mr. 
Wolkow by e-mail ([email protected]), FAX (202-622-7448) or 
telephone (202-622-1276).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury's TIC Forms webpage, http://www.treas.gov/tic/forms.htm. Requests for additional information should 
be directed to Mr. Wolkow.

SUPPLEMENTARY INFORMATION:
    Titles: Treasury International Capital Form BQ-3, Report of 
Maturities of Selected Liabilities of Depository Institutions, Brokers 
and Dealers to Foreigners.
    OMB Control Number: NEW.
    Abstract: Form BQ-3 is part of the Treasury International Capital 
(TIC) reporting system, which is required by law (22 U.S.C. 286f; 22 
U.S.C. 3103; E.O. 10033; 31 C.F.R. 128) and is designed to collect 
timely information on international portfolio capital movements. Form 
BQ-3 is a quarterly report designed to capture, by instrument and on an 
aggregate basis, remaining maturities of all U.S. dollar and foreign 
currency liabilities (excluding securities) of U.S. resident banks, 
other depository institutions, brokers and dealers vis-a-vis foreign 
residents. This information is necessary for meeting international data 
reporting standards and for formulating U.S. international financial 
and monetary policies.
    Current Actions: This proposed new form is necessary to meet 
recently expanded international standards for reporting data on a 
country's liabilities vis-a-vis foreigners. (a) The new form will 
collect data on remaining maturities for borrowings, deposits and 
brokerage balances, and repurchase agreements and other liabilities, 
broken down by seven maturity bands. (b) Both U.S. dollar liabilities 
and foreign currency liabilities, excluding securities, will be 
reported on the new form. (c) The reporting panel will consist of all 
banks, other depository institutions, brokers and dealers that report 
on TIC Form BL-1 and/or TIC Form BQ-2, provided that the total of their 
own U.S. dollar liabilities from Form BL-1 plus their own foreign 
currency liabilities from Part 1 of Form BQ-2 is $4 billion or more. 
(d) Bank Holding Companies and Financial Holding Companies (BHCs/FHCs) 
will each consolidate the BHC/FHC and all subsidiaries, OTHER THAN 
banking or broker or dealer subsidiaries, and file TIC Form CQ-1 (banks 
and brokers and dealers will continue to file TIC-B series reports). 
This treatment is designed to reduce reporting burdens since the TIC C 
reports are less detailed and are filed only quarterly. (e) Depository 
institutions, brokers and dealers will report most cross-border 
positions with affiliated foreigners (including affiliates of parent 
organizations) exclusive of positions in the form of long-term 
securities or derivative contracts. (f) The period of time a reporter 
has to submit reports once the exemption level is exceeded has been 
changed to the remainder of the current calendar year. (g) These 
changes will be effective as of February 28, 2003.
    Type of Review: NEW.
    Affected Public: Business or other for-profit organizations. Form 
BQ-3 (NEW)
    Estimated Number of Respondents: 55.
    Estimated Average Time per Respondent: Four (4) hours per 
respondent per filing.
    Estimated Total Annual Burden Hours: 880 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 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-3 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

[[Page 19617]]

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.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 02-9600 Filed 4-19-02; 8:45 am]
BILLING CODE 4810-25-P