[Federal Register Volume 76, Number 123 (Monday, June 27, 2011)]
[Notices]
[Pages 37403-37404]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-15924]


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 DEPARTMENT OF THE TREASURY


Treasury International Capital Form SLT: Report of Aggregate 
Holdings of Long-Term Securities by U.S. and 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 monthly collection of 
information on cross-border ownership by U.S. and foreign residents of 
long-term securities for portfolio investment purposes. This mandatory 
collection is conducted under the authority of 22 U.S.C. 286f; 22 
U.S.C. 3103; E.O. 11961; E.O. 10033; and 31 CFR part 128. This Notice 
constitutes legal notification to all United States persons (defined 
below) who are in the reporting panel set forth in this Notice that 
they must respond to, and comply with, this collection of information. 
Copies of the Form SLT report and instructions may be printed from the 
Internet at: http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx.
    Definition: A U.S. person is any individual, branch, partnership, 
associated group, association, estate, trust, corporation, or other 
organization (whether or not organized under the laws of any State), 
and any government

[[Page 37404]]

(including a foreign government, the United States Government, a State 
or local government, and any agency, corporation, financial 
institution, or other entity or instrumentality thereof, including a 
government-sponsored agency), who resides in the United States or is 
subject to the jurisdiction of the United States.
    Who Must Report: The reporting panel for the Form SLT consists of 
all U.S. persons who are U.S.-resident custodians (including U.S.-
resident central securities depositories), U.S.-resident issuers of 
U.S. securities, or U.S.-resident end-investors in foreign securities, 
where for each reporting entity, the consolidated total of all 
reportable long-term U.S. and foreign securities on the last business 
day of the reporting month has a total fair value equal to or more than 
the exemption level. The exemption level is $1 billion. This 
consolidated total includes amounts held for a reporting entity's own 
account and for customers. The reporting entity should include 
reportable securities for all U.S.-resident parts of the reporting 
entity, including all U.S. subsidiaries and affiliates of the reporting 
entity and investment companies, trusts, and other legal entities 
created by the reporting entity. U.S.-resident entities include the 
affiliates in the United States of foreign entities. A custodian is a 
bank or other entity that manages or administers the custody or 
safekeeping of securities or other assets for institutional or private 
investors. End-investors include funds and investment managers.
    What to Report: Reportable long-term securities (including 
equities) include: (1) U.S. securities held by U.S.-resident custodians 
on behalf of foreign residents; (2) foreign securities held by U.S.-
resident custodians on behalf of U.S. residents; (3) U.S. securities 
issued by U.S.-resident issuers in foreign markets and held directly by 
foreign residents, i.e., where no U.S.-resident custodian or U.S.-
resident central securities depository is used by the U.S.-resident 
issuer; and (4) foreign securities held directly by U.S.-resident end-
investors, i.e., where no U.S.-resident custodian is used by the U.S.-
resident end-investor. Securities held as part of a direct investment 
relationship should not be reported.
    How to Report: Form SLT consists of Parts A and B. Part A is 
required to be completed by U.S.-resident custodians. Part B is 
required to be completed by U.S.-resident issuers and U.S.-resident 
end-investors, including funds and investment managers. If a reporting 
entity is both a U.S.-resident custodian and a U.S.-resident issuer 
and/or a U.S.-resident end-investor, then both Parts A and B must be 
completed. Copies of the Form SLT 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 SLT staff of the Federal Reserve Bank of New York at 
(212) 720-6300 or (646) 720-6300, or by contacting the District Federal 
Reserve Bank. Reporting entities that are banks, depository 
institutions, bank holding companies or financial holding companies 
(BHCs/FHCs) should file their reports with the Federal Reserve Bank of 
the District in which the reporting entity is located, unless 
instructed otherwise by their District Federal Reserve Bank. All other 
reporting entities should file their reports with the Federal Reserve 
Bank of New York (FRBNY), regardless of where they are located. 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 by telephone (202) 622-
1276, or by e-mail: [email protected].
    When to Report: In any month in which the consolidated total of all 
reportable long-term U.S. and foreign securities for a reporting entity 
has a total fair value equal to or more than the exemption level on the 
last business day of that month (the ``as-of date''), that reporting 
entity must submit the Form SLT report for that month. In addition, the 
reporting entity also must report on Form SLT for each remaining month 
in that calendar year, regardless of the consolidated total of 
reportable long-term U.S. and foreign securities held in any subsequent 
month. The Form SLT report must be submitted to the Federal Reserve 
Bank no later than the 23rd calendar day of the month following the 
report as-of date. If the due date of the report falls on a weekend or 
holiday, the Form SLT report should be submitted the following business 
day. These mandatory reporting requirements will be phased in during 
2011. In 2011, the Form SLT will be required to be submitted quarterly 
as of September 30 and December 30, with the mandatory monthly 
reporting on Form SLT beginning with the report as of January 31, 2012.
    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 1505-0235. 
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 11.4 
hours per respondent per filing. The estimated average burden per 
respondent varies widely from about 17 hours for a U.S.-resident 
custodian filing Part A and Part B to about six and one half hours for 
a U.S.-resident issuer or U.S.-resident end-investor filing Part B. 
Comments concerning the accuracy of this burden estimate and 
suggestions for reducing this burden should be directed to the 
Department of the Treasury, Attn: Administrator, International 
Portfolio Investment Data Reporting Systems, Room 5422, Washington, DC 
20220, and to OMB, Attn: 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. 2011-15924 Filed 6-24-11; 8:45 am]
BILLING CODE 4810-25-P