[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