[Federal Register Volume 86, Number 60 (Wednesday, March 31, 2021)]
[Notices]
[Pages 16842-16843]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-06564]


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DEPARTMENT OF THE TREASURY


Proposed Collection; Comment Request

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 the revision of a currently 
approved information collection that is to be proposed for approval by 
the Office of Management and Budget. The Office of International 
Affairs of the Department of the Treasury is soliciting comments 
concerning Treasury International Capital (TIC) Form SHL/SHLA, ``Survey 
of Foreign-Residents' Holdings of U.S. Securities, including Selected 
Money Market Instruments''.

DATES: Written comments should be received on or before June 1, 2021 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
1050 MT, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of 
possible delays in mail delivery, please also notify Mr. Wolkow by 
email ([email protected]) or by telephone (cell: 202-923-0518).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury International Capital (TIC) 
Forms web page ``Forms SHL/SHLA [verbar] U.S. Department of the 
Treasury''. Requests for additional information should be directed to 
Mr. Wolkow by email ([email protected]), or by telephone (cell: 
202-923-0518).

SUPPLEMENTARY INFORMATION:
    Title: Treasury International Capital (TIC) Form SHL/SHLA, ``Survey 
of Foreign-Residents' Holdings of U.S. Securities, including Selected 
Money Market Instruments''.
    OMB Control Number: 1505-0123.
    Abstract: This form collects foreign-residents' holdings of U.S. 
securities. These data are used by the U.S. Government in the 
formulation of international financial and monetary policies, and for 
the computation of the U.S. balance of payments accounts and of the 
U.S. international investment position. These data are also used to 
provide information to the public and to meet international reporting 
commitments. The data collection includes large benchmark surveys (Form 
SHL) conducted every five years, and smaller annual surveys (Form SHLA) 
conducted in the non-benchmark years. The data collected under an 
annual survey are used in conjunction with the results of the preceding 
benchmark survey and of recent TIC form SLT (``Aggregate Holdings of 
Long-Term Securities by U.S. and Foreign Residents'') reporting to make 
economy-wide estimates for that non-benchmark year. Currently, the 
determination of who must report in the annual surveys

[[Page 16843]]

is based primarily on the data submitted during the preceding benchmark 
survey and on data submitted on SLT reporting. The data requested in 
the annual survey will generally be the same as requested in the 
preceding benchmark report. Form SHL is used for the benchmark survey 
of all significant U.S.-resident custodians and U.S.-resident issuers 
of securities regarding foreign-residents' holdings of U.S. securities. 
In non-benchmark years, Form SHLA is used for the annual surveys of 
primarily the largest U.S.-resident custodians and issuers.
    Current Actions: No changes in the forms (schedules) or 
instructions are being proposed at this time. Some clarifications and 
format changes may be made to improve the instructions.
    Type of Review: Renewal without change of a currently approved 
collection.
    Affected Public: Business or other for-profit organizations.
    Form: TIC SHL/SHLA, Schedules 1 and 2 (1505-0123).
    Estimated Number of Respondents: An annual average (over five 
years) of 317, but this varies widely from about 840 in benchmark years 
(once every five years) to about 185 in other years (four out of every 
five years).
    Estimated Average Time per Respondent: An annual average (over five 
years) of about 133 hours, but this will vary widely from respondent to 
respondent. (a) In the year of a benchmark survey, which is conducted 
once every five years, it is estimated that exempt respondents will 
require an average of 17 hours; for custodians of securities, the 
estimate is a total of 321 hours on average, but this figure will vary 
widely for individual custodians; and for issuers of securities that 
have data to report and are not custodians, the estimate is 61 hours on 
average. (b) In a non-benchmark year, which occurs four years out of 
every five years, it is estimated that the largest custodians of 
securities will require a total of 486 hours on average; and for the 
largest issuers of securities that have data to report and are not 
custodians, the estimate is 110 hours on average. The exemption level 
for custodians and for end-investors is the holding of less than $200 
million in reportable U.S. securities owned by foreign residents. The 
exemption level applies only in benchmark years.
    Estimated Total Annual Burden Hours: An annual average (over five 
years) of 42,035 hours.
    Frequency of Response: Annual.
    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 the Survey is necessary for the proper 
performance of the functions of the Office of International Affairs 
within the Department of the Treasury, including whether the 
information collected 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 requested; and (e) estimates of capital or 
start-up costs of operation, maintenance and purchase of services to 
provide the information requested.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting 
Systems.
[FR Doc. 2021-06564 Filed 3-30-21; 8:45 am]
BILLING CODE 4810-AK-P