[Federal Register Volume 84, Number 152 (Wednesday, August 7, 2019)]
[Notices]
[Page 38724]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-16360]


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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 Treasury 
International Capital Forms CQ-1 and CQ-2, ``Financial and Commercial 
Liabilities to, and Claims on, Unaffiliated Foreign Residents.''

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, 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 web page for forms, 
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:
    Title: Treasury International Capital Form CQ-1, ``Financial 
Liabilities to, and Claims on, Unaffiliated Foreign Residents;'' and 
Treasury International Capital Form CQ-2, ``Commercial Liabilities to, 
and Claims on, Unaffiliated Foreign Residents.''
    OMB Number: 1505-0024.
    Abstract: Forms CQ-1 and CQ-2 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 is 
designed to collect timely information on international portfolio 
capital movements. Forms CQ-1 and CQ-2 are quarterly reports filed by 
non-financial enterprises in the U.S. to report their international 
portfolio transactions with unaffiliated 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: No changes in the forms are being proposed at this 
time. The proposed changes in the instructions are: (1) The section I.C 
``Who Must Report'' is updated to list out separately Intermediate 
Holding Companies (IHCs), as defined by Regulation YY, 12 CFR 252, and 
to clarify that IHCs should follow the same consolidation rules that 
are applicable to Bank Holding Companies (BHCs), Financial Holding 
Companies (FHCs), and Savings and Loan Holding Companies. Regulation YY 
was effective by January 1, 2015, and IHCs are filing TIC reports; this 
update will formalize their reporting requirements. (2) In section I.C 
``Who Must Report'', the last item in the list of entities that must 
file, ``State and local government'', has been expanded to clarify that 
it means ``State and local government agencies and instrumentalities 
such as utilities that produce goods or non-financial services that are 
not strictly governmental in nature in exchange for money.'' (3) The 
glossaries for all Treasury International Capital (``TIC'') reports are 
consolidated into a single document which will provide more consistency 
across the TIC system. As a result, the TIC C reporting instructions 
will not include a glossary but new Appendix D will point to the 
separate consolidated TIC Glossary document on the Treasury website. 
See the March 2018 version and later versions. (4) In section I.B.5 
``Other Statistical Reports'', some descriptions are updated. (5) The 
contact information is updated in section F.2, ``Submission of 
Reports.'' (6) Some other clarifications and format changes may be made 
to improve the instructions.
    Type of Review: Revision of a currently approved data collection.
    Affected Public: Business or other for-profit organizations.
    Forms: CQ-1 and CQ-2 (1505-0024).
    Estimated Number of Respondents: 135.
    Estimated Average Time per Respondent: Six and seven-tenths (6.7) 
hours per respondent per filing.
    Estimated Total Annual Burden Hours: 3,620 hours, based on four 
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 Forms CQ-1 and CQ-2 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. 2019-16360 Filed 8-6-19; 8:45 am]
BILLING CODE 4810-25-P