[Federal Register Volume 84, Number 152 (Wednesday, August 7, 2019)]
[Notices]
[Pages 38724-38725]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16359]


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DEPARTMENT OF THE TREASURY


Proposed Collections; Comment Requests

AGENCY: Departmental Offices; Department of the Treasury.

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 the revisions of the 
Treasury International Capital (TIC) Forms BC, BL-1, BL-2, BQ-1, BQ-2, 
and BQ-3 (called the ``TIC B forms'').

DATES: Written comments should be received on or before October 7, 2019 
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,

[[Page 38725]]

Washington, DC 20220. In view of possible delays in mail delivery, 
please also notify Mr. Wolkow at the email or telephone contact 
mentioned in the next section.

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury's TIC Forms web page, http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx. Requests for additional information should be directed to 
Mr. Wolkow by email ([email protected]) or telephone (202-622-
1276).

SUPPLEMENTARY INFORMATION:
    Titles: Treasury International Capital (TIC) Form BC ``Monthly 
Report of U.S. Dollar Claims of Financial Institutions on Foreign 
Residents;'' TIC BL-1 ``Monthly Report of U.S. Dollar Liabilities of 
Financial Institutions to Foreign Residents;'' TIC BL-2 ``Monthly 
Report of Customers' U.S. Dollar Liabilities to Foreign Residents;'' 
TIC BQ-1 ``Quarterly Report of Customers' U.S. Dollar Claims on Foreign 
Residents;'' TIC BQ-2 ``Part 1: Quarterly Report of Foreign Currency 
Liabilities and Claims of Financial Institutions and of their Domestic 
Customers' Foreign Currency Claims with Foreign Residents'' and ``Part 
2: the Report of Customers' Foreign Currency Liabilities to Foreign 
Residents;'' and TIC BQ-3 ``Quarterly Report of Maturities of Selected 
Liabilities and Claims of Financial Institutions with Foreign 
Residents.''
    OMB Numbers: 1505-0017 (TIC BC), 1505-0019 (TIC BL-1), 1505-0018 
(TIC BL-2), 1505-0016 (TIC BQ-1), 1505-0020 (TIC BQ-2), and 1505-0189 
(TIC BQ-3).
    Abstract: Forms BC, BL-1, BL-2, BQ-1, BQ-2, BQ-3 are 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 are designed to collect timely information on international 
portfolio capital movements. These forms are filed by all U.S.-resident 
financial institutions. On the monthly forms, these organizations 
report their own claims on (BC), their own liabilities to (BL-1), and 
their U.S. customers' liabilities to (BL-2) foreign residents, 
denominated in U.S. dollars. On the quarterly forms, these 
organizations report their U.S.-resident customers' U.S. dollar claims 
on foreign residents (BQ-1), and their own and their domestic 
customers' claims and liabilities with foreign residents, where all 
claims and liabilities are denominated in foreign currencies (BQ-2). On 
the quarterly BQ-3 form, these organizations report the remaining 
maturities of all their own U.S. dollar and foreign currency 
liabilities and claims (excluding securities) with foreign residents. 
This information is necessary for compiling the U.S. balance of 
payments accounts and the U.S. international investment position, and 
for use in formulating U.S. international financial and monetary 
policies.
    Current Actions: Changes in forms BC and BQ-1 are proposed. No 
changes to the other Forms are proposed. (a) In Form BQ-1, a new line 
titled ``Brokerage Balances'' is added in the ``Of Which'' Items 
section. The amount of brokerage balances included in the form's first 
column ``Non-Negotiable Foreign Deposits'' is needed to implement new 
estimates that will help bring the U.S. balance of payments into better 
compliance with the international reporting standards in the Balance of 
Payments Manual, 6th Edition (BPM6). (b) In Form BC, the title of the 
``Of Which'' line 8132-9 is expanded to read ``Unpaid Insurance Claims 
And Prepaid Insurance Premiums.'' This clarifies that prepaid insurance 
premiums are to be reported in this line. (c) In Form BC, the extra 
text in parenthesis ``(Please . . .)'' is removed in the title box of 
the ``Of Which'' line 8200-9 ``Assets Written Off This Reporting 
Period''. The following are all changes in the instructions. (d) 
Section II.C.3 in the instructions is clarified to indicate prepaid 
insurance premiums are included in the ``Of Which'' line 8132-9 of the 
TIC BC form. (e) Section V.C.4 is added to the instructions for 
reporting the new ``Of Which'' row called ``Brokerage Balances'' in the 
TIC BQ-1 form.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Forms: BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3.
    Estimated Number of Respondents: BC, 320; BL-1, 360; BL-2, 110; BQ-
1, 85; BQ-2, 190 and BQ-3, 155.
    Estimated Average Time per Respondent per Filing: BC, 11.2 hours; 
BL-1, 7.7 hours; BL-2, 8.9 hours; BQ-1, 3.8 hours; BQ-2, 7.8 hours; and 
BQ-3, 10.5 hours. The average time varies, and is estimated to be 
generally twice as many hours for major data reporters as for other 
reporters.
    Estimated Total Annual Burden Hours: BC, 43,170 hours for 12 
reports per year; BL-1, 33,440 hours for 12 reports per year; BL-2, 
11,760 hours for 12 reports per year; BQ-1, 1,290 hours for 4 reports 
per year, BQ-2, 5,960 hours for 4 reports per year; and BQ-3, 6,510 
hours for 4 reports 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 Forms BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-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 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. 2019-16359 Filed 8-6-19; 8:45 am]
BILLING CODE 4810-25-P