[Federal Register Volume 85, Number 205 (Thursday, October 22, 2020)]
[Notices]
[Page 67425]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-23337]


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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 an information collection that is 
due for extension approval by the Office of Management and Budget. The 
Office of International Affairs of the Department of the Treasury is 
soliciting comments concerning extension without change of the 
following three related forms: Foreign Currency Form FC-1 (OMB No. 
1505-0012), Weekly Consolidated Foreign Currency Report of Major Market 
Participants; Form FC-2 (OMB No. 1505-0010), Monthly Consolidated 
Foreign Currency Report of Major Market Participants; Form FC-3 (OMB 
No. 1505-0014), Quarterly Consolidated Foreign Currency Report. The 
reports are mandatory.

DATES: Written comments should be received on or before December 21, 
2020 to be assured of consideration.

ADDRESSES: Direct all written comments to Camilla Cunningham, Markets 
Room, Department of the Treasury, Room 1328, 1500 Pennsylvania Avenue 
NW, Washington, DC 20220. In view of possible delays in mail delivery, 
please also notify Ms. Cunningham by email 
([email protected]), or telephone (202-880-2101).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Federal Reserve Bank of New York's 
website. They are in the section for Banking Reporting Forms and 
Instructions, on the web pages for the TFC-1, TFC-2 and TFC-3 forms, 
for example at: https://www.newyorkfed.org/banking/reportingforms/TFC_1.html; https://www.newyorkfed.org/banking/reportingforms/TFC_2.html; and https://www.newyorkfed.org/banking/reportingforms/TFC_3.html. Requests for additional information should be directed to 
Ms. Cunningham.

SUPPLEMENTARY INFORMATION: 
    Title: Weekly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-1.
    OMB Control Number: 1505-0012.
    Title: Monthly Consolidated Foreign Currency Report of Major Market 
Participants, Foreign Currency Form FC-2.
    OMB Control Number: 1505-0010.
    Title: Quarterly Consolidated Foreign Currency Report, Foreign 
Currency Form FC-3.
    OMB Control Number: 1505-0014.
    Abstract: The filing of Foreign Currency Forms FC-1, FC-2, and FC-3 
is pursuant to (31 U.S.C. 5315, which directs the Secretary of the 
Treasury to prescribe regulations (31 CFR 128, Subpart C), requiring 
reports on foreign currency transactions conducted by a United States 
person or a foreign person controlled by a United States person. The 
forms collect data on the foreign exchange spot, forward, futures, and 
options markets from all significant market participants.
    Current Actions: No changes in the forms or instructions will be 
made.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents:
    Foreign Currency Form FC-1: 29 respondents.
    Foreign Currency Form FC-2: 29 respondents.
    Foreign Currency Form FC-3: 47 respondents.
    Estimated Average Time per Response:
    Foreign Currency Form FC-1: 48 minutes (0.8 hours) per response.
    Foreign Currency Form FC-2: Three hours 36 minutes (3.6 hours) per 
response.
    Foreign Currency Form FC-3: Eight (8) hours per response.
    Estimated Total Annual Burden Hours:
    Foreign Currency Form FC-1: 1,207 hours, based on 52 reporting 
periods per year.
    Foreign Currency Form FC-2: 1,253 hours, based on 12 reporting 
periods per year.
    Foreign Currency Form FC-3: 1,504 hours, based on 4 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 Foreign Currency Forms FC-1, FC-2, and FC-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 estimates 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.

Camilla Cunningham,
Economic Research Analyst, Markets Room, U.S. Department of the 
Treasury.
[FR Doc. 2020-23337 Filed 10-21-20; 8:45 am]
BILLING CODE 4810-25-P