[Federal Register Volume 74, Number 91 (Wednesday, May 13, 2009)]
[Notices]
[Pages 22633-22634]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E9-11140]


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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 a currently approved information 
collection that is due for extension approval by the Office of 
Management and Budget. The Office of International Affairs within the 
Department of the Treasury is soliciting comments concerning the Annual 
Report of U.S. Ownership of Foreign Securities, including Selected 
Money Market Instruments. The next such collection is a benchmark 
survey and is to be conducted as of December 31, 2009.

DATES: Written comments should be received on or before July 13, 2009 
to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
5422 MT, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. In view 
of possible delays in mail delivery, you may also wish to send a copy 
to Mr. Wolkow by e-mail ([email protected]) or FAX (202-622-
2009). Mr. Wolkow can also be reached by telephone (202-622-1276).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury International Capital (TIC) 
Forms Web page for ``Forms SHL/SHLA & SHC/SHCA'', at: http://www.treas.gov/tic/forms-sh.shtml. Requests for additional information 
should be directed to Mr. Wolkow.

SUPPLEMENTARY INFORMATION:
    Title: Treasury Department Forms SHC and SHCA, U.S. Ownership of 
Foreign Securities, including Selected Money Market Instruments.
    OMB Number: 1505-0146.
    Abstract: These forms are used to conduct annual surveys of 
holdings by U.S. residents of foreign securities for portfolio 
investment purposes. These data are used by the U.S. Government in the 
formulation of international financial and monetary policies, and for 
the computation of the U.S. balance of payments accounts and of the 
U.S. international investment position. These data are also used to 
provide information to the public and to meet international reporting 
commitments. This survey is part of an internationally coordinated 
effort under the auspices of the International Monetary Fund to improve 
data on securities worldwide. Most of the major industrial and 
financial countries conduct similar surveys.
    A benchmark survey (Form SHC) of all significant U.S.-resident 
custodians and end-investors is conducted every five years. In non-
benchmark years, the

[[Page 22634]]

annual survey (Form SHCA) requires reports generally from only the very 
largest U.S.-resident custodians and end-investors. The data requested 
in Form SHCA will generally be the same as in the preceding benchmark 
report. The determination of who must report in the annual surveys 
(Form SHCA) is based primarily on the data submitted during the 
preceding benchmark survey. The data collected under the annual surveys 
(SHCA) will be used in conjunction with the results of the preceding 
benchmark survey to make economy-wide estimates for the non-benchmark 
years.
    Current Actions: None. No changes in the forms or in the 
instructions will be made from the previous survey that was conducted 
as of December 31, 2008. [Note that some clarifications may be made in 
the instructions as a result of discussions with respondents.]
    Type of Review: Extension of a currently approved data collection.
    Affected Public: Business/Financial Institutions.
    Forms: TDF SHC, Schedules 1, 2 and 3 (1505-0146); TDF SHCA, 
Schedules 1, 2 and 3 (1505-0146).
    Estimated Number of Respondents: An annual average (over five 
years) of 395, but this varies widely from about 1,200 in benchmark 
years (once every five years) to about 195 in other years (four out of 
every five years).
    Estimated Average Time per Respondent: An annual average (over five 
years) of about 142 hours, but this will vary widely from respondent to 
respondent. (a) In the year of a benchmark survey (using Form SHC), 
i.e., once every five years, it is estimated that exempt respondents 
will require an average of 16 hours; custodians of securities providing 
security-by-security information will require an average of 360 hours, 
but this figure will vary widely for individual custodians; end-
investors providing security-by-security information will require an 
average of 120 hours; and end-investors and custodians employing U.S. 
custodians will require an average of 40 hours. (b) In a non-benchmark 
year (using Form SHCA), i.e., four years out of every five years, 
custodians of securities providing security-by-security information 
will require an average of 700 hours (because only the largest U.S.-
resident custodians will report), but this figure will vary widely for 
individual custodians; end-investors providing security-by-security 
information will require an average of 145 hours; and reporters 
entrusting their foreign securities to U.S. custodians will require an 
average of 48 hours.
    The exemption level, which applies only in benchmark years, for 
custodians is the holding of less than $100 million in foreign 
securities and for end-investors the owning of less than $100 million 
in foreign securities with a single custodian.
    Estimated Total Annual Burden Hours: Annual average (over five 
years) of 56,080 hours.
    Frequency of Response: Annual.
    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 the Survey is necessary for the proper 
performance of the functions of the Office of International Affairs 
within the Department of the Treasury, including whether the 
information collected 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 recordkeeping burdens on respondents, 
including the use of information technologies to automate the 
collection of the data requested; and (e) estimates of capital or 
start-up costs of operation, maintenance and purchase of services to 
provide the information requested.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. E9-11140 Filed 5-12-09; 8:45 am]
BILLING CODE 4810-25-P