[Federal Register Volume 69, Number 199 (Friday, October 15, 2004)]
[Notices]
[Pages 61295-61296]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-23170]


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DEPARTMENT OF THE TREASURY


Office of International Affairs; Treasury International Capital 
(TIC) Form D: Report of Holdings of, and Transactions in, Financial 
Derivatives Contracts With Foreign Residents

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of reporting requirements.

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SUMMARY: By this Notice, the Department of the Treasury is informing 
the public that it is conducting a mandatory quarterly collection of 
information on holdings and transactions in financial derivatives 
contracts undertaken between foreign resident counterparties and major 
U.S.-resident participants in derivatives markets. This Notice 
constitutes legal notification to all United States persons who are in 
the reporting panel set forth in this Notice that they must respond to 
this collection of information. Copies of the Form D report and 
instructions may be printed from the Internet at: http://www.treas.gov/tic/forms.html.
    Who Must Report: The reporting panel consists of all U.S.-resident 
participants in derivatives markets, where each reporter holds 
derivatives having a total notional value in excess of $100 billion, 
measured on a consolidated-worldwide accounting basis, at the end of 
the calendar quarter being reported. The worldwide total includes all 
derivatives contracts with both U.S. and foreign residents, and all 
contracts in the accounts of both the reporter and the reporter's 
customers.
    What to Report: This report will collect information on all over-
the-counter (OTC) and exchange-traded derivatives contracts with 
foreign residents that meet the definition of a derivatives contract in 
FASB Statement No. 133, as amended.
    How to Report: Copies of Form D report and instructions, which 
contain complete information on reporting procedures and definitions, 
may be obtained at the Web site address given above in the SUMMARY, or 
by contacting the survey staff of the Federal Reserve Bank of New York 
at (212) 720-6300. The mailing address is: Federal Reserve Bank of New 
York, Statistics Function, 4th Floor, 33 Liberty Street, New York, NY 
10045-0001. Inquiries also may be made to Dwight Wolkow at (202) 622-
1276, e-mail: [email protected].
    When to Report: Data must be submitted to the Federal Reserve Bank 
of New York, acting as fiscal agent for the Department of the Treasury, 
no later

[[Page 61296]]

than 60 calendar days after the end of the calendar quarter being 
reported. In order to reduce the initial reporting burden in 2005 
associated with implementing this information collection, these 
mandatory reporting requirements will be phased in over a period of 
three quarters. In the first phase, reporting will begin for all fair 
value positions in the first two columns of Form D, and for net 
settlements for only OTC foreign exchange contracts. This phase will be 
effective beginning with the March 2005 reporting date, which covers 
the first calendar quarter of 2005. In the second phase, reporting will 
begin for net settlements data for all exchange-traded contracts and 
will be effective beginning with the June 2005 reporting date, which 
covers the second calendar quarter of 2005. In the final phase, 
reporting will begin for all of the remaining information. This Phase 
will be implemented beginning with the September 2005 reporting date, 
which covers the third calendar quarter of 2005.
    Paperwork Reduction Act Notice: This data collection has been 
approved by the Office of Management and Budget (OMB) in accordance 
with the Paperwork Reduction Act and assigned control number 1505-0199. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid 
control number assigned by OMB. The estimated average burden associated 
with this collection of information, when fully implemented, is 30 
hours per respondent per filing. Comments concerning the accuracy of 
this burden estimate and suggestions for reducing this burden should be 
directed to the Department of the Treasury, Attention Administrator, 
International Portfolio Investment Data Reporting Systems, Room 
4410@1440NYA, Washington, DC 20220, and to OMB, Attention Desk Officer 
for the Department of the Treasury, Office of Information and 
Regulatory Affairs, Washington, DC 20503.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting 
Systems.
[FR Doc. 04-23170 Filed 10-14-04; 8:45 am]
BILLING CODE 4810-25-P