[Federal Register Volume 71, Number 168 (Wednesday, August 30, 2006)]
[Notices]
[Page 51673]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-14347]



[[Page 51673]]

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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 extension approval by the Office of Management and Budget. The 
Office of International Monetary and Financial Policy within the 
Department of the Treasury is soliciting comments concerning Extension 
of Foreign Currency Form FC-1 (OMB No. 1505-0012) Weekly Consolidated 
Foreign Currency Report of Major Market Participants, Form FC-2 (OMB 
No. 1505-0010) Monthly Consolidated Foreign Currency Report of Major 
Market Participants, and Form FC-3 (OMB No. 1505-0014) Quarterly 
Consolidated Foreign Currency Report. The reports are mandatory.

DATES: Written comments should be received on or before October 30, 
2006 to be assured of consideration.

ADDRESSES: Direct all written comments to Timothy D. DuLaney, Office of 
International Monetary and Financial Policy, Department of the 
Treasury, Room 5422, 1500 Pennsylvania Avenue, NW., Washington, DC 
20220. In view of possible delays in mail delivery, please also notify 
Mr. DuLaney by e-mail ([email protected]), FAX (202-622-2021) or 
telephone (202-622-2052).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Federal Reserve Bank of New York's 
Web site, in the U.S. Department of the Treasury section of the webpage 
for Regulatory Reports Forms and Instructions at: http://www.ny.frb.org/bankinfo/regrept/regrept.html. Requests for additional 
information should be directed to Mr. DuLaney.

SUPPLEMENTARY INFORMATION:
    Title: Weekly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-1.
    OMB Control Number: 1505-0012.
    Title: Monthly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-2.
    OMB Control Number: 1505-0010.
    Title: Quarterly Consolidated Foreign Currency Report, Foreign 
Currency Form FC-3.
    OMB Control Number: 1505-0014.
    Abstract: The filing of Foreign Currency Forms FC-1, FC-2, and FC-3 
is required by law (31 U.S.C. 5315, 31 CFR part 128, subpart C), which 
directs the Secretary of the Treasury to prescribe regulations 
requiring reports on foreign currency transactions conducted by a 
United States person or a foreign person controlled by a United States 
person. The forms collect data on the foreign exchange spot, forward, 
futures, and options markets from all significant market participants.
    Current Actions: No changes to the current forms FC-1, FC-2 and FC-
3 and instructions are being proposed.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents:
    Foreign Currency Form FC-1: 24 respondents.
    Foreign Currency Form FC-2: 24 respondents.
    Foreign Currency Form FC-3: 44 respondents.
    Estimated Average Time Per Respondent:
    Foreign Currency Form FC-1: One (1) hour per respondent per 
response.
    Foreign Currency Form FC-2: Four (4) hours per respondent per 
response.
    Foreign Currency Form FC-3: Eight (8) hours per respondent per 
response.
    Estimated Total Annual Burden Hours:
    Foreign Currency Form FC-1: 1,248 hours, based on 52 reporting 
periods per years.
    Foreign Currency Form FC-2: 1,152 hours, based on 12 reporting 
period per year.
    Foreign Currency Form FC-3: 1,408 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 Foreign Currency Forms FC-1, FC-2, and FC-3 are 
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 estimates 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.

Timothy D. DuLaney,
Office of International Monetary and Financial Policy, U.S. Department 
of the Treasury.
[FR Doc. E6-14347 Filed 8-29-06; 8:45 am]
BILLING CODE 4811-37-P