[Federal Register Volume 70, Number 140 (Friday, July 22, 2005)]
[Notices]
[Pages 42409-42410]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-14463]


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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 International Affairs 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 September 20, 
2005 to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
4410-1440NYA, 1500 Pennsylvania Avenue NW., Washington DC 20220. In 
view of possible delays in mail delivery, please also notify Mr. Wolkow 
by e-mail ([email protected]), FAX (202-622-1207) or telephone 
(202-622-1276).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury's TIC Forms Web page, http://www.treas.gov/tic/forms.html. 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: 1505-0189.
    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 CFR 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

[[Page 42410]]

standards and for formulating U.S. international financial and monetary 
policies.
    Current Actions: (a) The list for reporting the location of foreign 
counterparties on all TIC reporting forms will be increased to a total 
of roughly 245 countries and other areas. This longer list is 
essentially the same as the lists used for years in the TIC benchmark 
and annual reports, and thus will establish a uniform list of 
countries/areas consistent across all TIC reporting forms. Comments 
from TIC respondents indicate that their modern computerized database 
systems can easily produce all TIC reports for this longer list of 
countries/areas. This change will apply to the monthly and quarterly B-
forms, C-forms, Form D and Form S and will allow the semiannual B-forms 
to be eliminated (see action b below). This action is expected to 
result in an overall reduction in burden for TIC respondents as a 
whole, as well as satisfying Treasury's need for more timely 
information on a larger number of countries. Comments from TIC 
respondents indicate that the combination of the longer uniform country 
list and the virtual elimination of rows for ``other countries'' will 
reduce significantly the total burden from all TIC reports, including 
the burdens of cross-checking information, responding to inquiries from 
data compilers, and making revisions to data reports; (b) the 
semiannual reports BC(SA), BL-1(SA) and BL-2(SA) will be eliminated. 
These reports for about 130 countries/areas will be made unnecessary by 
action (a) above; and (c) these changes will be effective beginning 
with the reports as of June 30, 2006.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Form BQ-3 (1505-0189)
    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 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 Form BQ-3 is necessary for the proper 
performance of the functions of the Office, including whether the 
information will 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. 05-14463 Filed 7-21-05; 8:45 am]
BILLING CODE 4810-25-P