April 27, 2007
hp-372

Cross-Border Derivatives Reporting System Becomes Operational

Washington, DC –The Treasury Department today announced that it will begin publication on May 15, 2007, of a quarterly data series on U.S. cross-border derivatives contracts on the Treasury International Capital (TIC) reporting system website. These series are the result of a new TIC data collection and will expand information on U.S. international portfolio capital movements and the U.S. international investment position. Templates for the website derivatives data files and a brief description of the data are available in the news section on the U.S. Treasury TIC web site (www.treas.gov/tic).

The new data will provide information on gross positive and gross negative fair-value positions, and on net cash settlements, by type of contract and by country. The data are collected on the basis of the residence of the counterparties, and conform to international guidelines for reporting derivatives data to be used in the computation of the balance of payments accounts and the international investment position. A more complete description of the data will be published by the Federal Reserve Board on its website, also on May 15.

The data on U.S. derivatives released on May 15 will cover the period beginning as of December 31, 2005, through December 31, 2006. Thereafter, the data will be updated in January, April, July and October on the day that monthly TIC data are published.

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