[Federal Register Volume 87, Number 210 (Tuesday, November 1, 2022)]
[Notices]
[Pages 65851-65852]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23703]


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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 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 January 3, 2023 
to be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
1050, 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 telephone (202-622-1276).

FOR FURTHER INFORMATION CONTACT: Dwight Wolkow, International Portfolio 
Investment Data Systems, Department of the Treasury, 202-622-1276. 
Copies of the proposed TIC B Forms and instructions are available on 
the Treasury's TIC Forms web page, https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions. Requests for additional information should be directed to 
Mr. Wolkow.

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

[[Page 65852]]

Financial Institutions with Foreign Residents.''
    OMB Number: 1505-0016.
    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 U.S.-resident 
financial institutions that are not exempt. 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: One change is proposed to page 18 of the 
Instructions for the Treasury International Capital (TIC) Form B 
Reports. In section I.D.1. ``General Instructions--Accounting Issues--
General'', add the following sentence as the new first sentence of the 
existing first paragraph: ``These reports should be prepared in 
accordance with generally accepted accounting principles (GAAP) and 
these instructions.'' This additional text clarifies that balances are 
expected to be reported according to GAAP. Similar text is found in the 
FFIEC 009 instructions.
    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 Reporting 
Systems.
[FR Doc. 2022-23703 Filed 10-31-22; 8:45 am]
BILLING CODE 4810-AK-P