[Federal Register Volume 73, Number 186 (Wednesday, September 24, 2008)]
[Notices]
[Pages 55205-55206]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-22339]


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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 the revision of an information 
collection that is 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 Form S, Purchases and Sales of Long-term 
Securities by Foreigners.

DATES: Written comments should be received on or before November 24, 
2008 to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, 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. Wolkow by e-
mail ([email protected]), FAX (202-622-2009) 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:
    Title: Treasury International Capital Form S, Purchases and Sales 
of Long-term Securities by Foreigners.
    OMB Control Number: 1505-0001.
    Abstract: Form S 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 part 128), and is designed to collect 
timely information on international portfolio capital movements. Form S 
is a monthly report used to cover transactions in long-term marketable 
securities undertaken DIRECTLY with foreigners by banks, other 
depository institutions, brokers,

[[Page 55206]]

dealers, underwriting groups and other individuals and institutions. 
This information is necessary for compiling the U.S. balance of 
payments and international investment position accounts, and for 
formulating U.S. international financial and monetary policies.
     Current Actions: (a) Under the ``Grand Total'' row (9999-6), an 
additional row will be added to record the total of transactions in 
asset-backed-securities (ABS) that is included in the ``Grand Total'' 
row. In the new row, entries will be required under the columns for 
``Bonds of U.S Gov't Corporations and Federally-Sponsored Agencies'', 
for ``Corporate and Other Bonds'', and for ``Foreign Bonds'' (columns 
3,4,5,6,9,10). The new row will also be included in the addendum 
section of the form that covers transactions with foreign official 
institutions. The additional information will satisfy a minimum need 
for more timely information on such transactions. The information will 
increase the reporting burden modestly as compared with the alternative 
burden of adding new columns because columns would require the data by 
country. The additional information will move toward providing 
information already available in the less timely annual reports on 
holdings of securities. Comments from TIC respondents indicate that 
their computerized database systems can produce the data on ABS; (b) 
the instructions will be revised to cover the additional row proposed 
above; (c) the instructions will be revised to add coverage of 
reporting by prime brokers; (d) the instructions (section D of the 
General Instructions) will be revised to require that foreign currency 
transactions be converted to U.S. dollars as of the settlement date, 
instead of the current requirement to convert as of the report date; 
(e) the instructions (section F of the General Instructions) will be 
revised to require that data reporters, once the exemption level is 
exceeded, continue to report for the remainder of the current calendar 
year, instead of the current requirement to continue reporting for that 
period plus the following calendar year; and (d) these changes will be 
effective beginning with the reports as of March 31, 2009.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.

Form S (1505-0001)

     Estimated Number of Respondents: 254
    Estimated Average Time per Respondent: Six hours per respondent per 
filing. This estimate includes 0.4 hours for the Current Actions 
proposed above. The estimated average time per respondent varies from 
10.8 hours for the approximately 30 major reporters to 5.4 hours for 
the other reporters.
     Estimated Total Annual Burden Hours: 18,400 hours, based on 12 
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 S 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. E8-22339 Filed 9-23-08; 8:45 am]
BILLING CODE 4810-25-P