[Federal Register Volume 67, Number 77 (Monday, April 22, 2002)]
[Notices]
[Page 19618]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-9602]


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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 revisions of an information 
collection that are 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 Form BL-2/BL-2(SA), Report by Depository Institutions, Brokers 
and Dealers of Customers' U.S. Dollar Liabilities 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 email ([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 BL-2/BL-2(SA), Report 
by Depository Institutions, Brokers and Dealers of Customers' U.S. 
Dollar Liabilities to Foreigners.
    OMB Control Number: 1505-0018.
    Abstract: Form BL-2/BL-2(SA) 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 CFR 128) and is designed to 
collect timely information on international portfolio capital 
movements. Form BL-2 is a monthly report (with a semiannual supplement) 
filed by banks, other depository institutions, brokers and dealers that 
covers their U.S. customers' dollar liabilities vis-a-vis foreign 
residents. 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) 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 option is designed to reduce reporting 
burdens since the TIC C reports are less detailed and are filed only 
quarterly. (b) 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. (c) To eliminate double counting, all 
negotiable liabilities (certificates of deposit of any maturity and 
other short-term negotiable securities) are to be reported as 
``customers'' `` items on Form BL-2 (or on Form BQ-2 if denominated in 
foreign currency) and excluded from Form BL-1, even if the ``customer'' 
is the reporter. (d) More liabilities of the domestic customers of 
depository institutions, brokers and dealers will be reportable. The 
title of the BL-2 report is changed from ``Custody'' liabilities to 
``Customers'' `` liabilities to indicate that items other than 
traditional ``custody'' items are included. Non-custody items will 
include loans to U.S. residents held at managed foreign offices, loans 
of foreigners to U.S. residents serviced by the reporter and syndicated 
loans sold overseas for which the reporter was the lead in the 
syndicate. (e) In Form BL-2, the columns for short-term U.S. agency 
obligations and other negotiable and readily transferable instruments 
will be combined. (f) Part 2 will be added on Form BL-2 to break out 
the sectors of U.S. debtors and types of instruments reported in the 
body of the BL-2. (g) These changes will be effective as of February 
28, 2003.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Form BL-2/BL-2(SA) (1505-0018).
    Estimated Number of Respondents: 90 (semiannual 35).
    Estimated Average Time per Respondent: Seven and one/half (7.5) 
hours per respondent per filing. This average time varies from 11 hours 
for the approximately 30 major reporters to 5.5 hours for the other 
reporters.
    Estimated Total Annual Burden Hours: 8,635 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 Form BL-2/BL-
2(SA) 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 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. 02-9602 Filed 4-19-02; 8:45 am]
BILLING CODE 4810-25-P