[Federal Register: November 22, 2002 (Volume 67, Number 226)]
[Notices]
[Page 70479]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22no02-133]
[[Page 70479]]
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DEPARTMENT OF THE TREASURY
Office of the Assistant Secretary for International Affairs;
Treasury International Capital (TIC) Forms CQ-1 and CQ-2
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice of reporting requirements.
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SUMMARY: By this Notice, the Department of the Treasury is informing
the public that it has revised the mandatory data collections on the
Treasury International Capital (TIC) C-forms. The revisions are
effective for all reports beginning with reporting periods ending March
31, 2003 and thereafter; until that time, the current mandatory TIC C-
forms and instructions remain in force. The revisions include revised
instructions and two revised forms: CQ-1 and CQ-2. This Notice
constitutes legal notification to all United States persons, as defined
below, who meet the reporting requirements set forth in this Notice
that they must respond to, and comply with, this data collection.
United States persons who meet the reporting requirements but who do
not receive a set of the revised C-forms and instructions should
contact the Federal Reserve Bank of New York, acting as fiscal agent
for the Department of the Treasury, to obtain copies. Additional copies
of the reporting forms and instructions may be printed from the
Internet at: http://www.treas.gov/tic/forms.html.
Definition: A U.S. person is any individual, branch, partnership,
associated group, association, estate, trust, corporation, or other
organization (whether or not organized under the laws of any state),
and any government (including a foreign government, the United States
Government, a state, provincial, or local government, and any agency,
corporation, financial institution, or other entity or instrumentality
thereof, including a government-sponsored agency), who resides in the
United States or is subject to the jurisdiction of the United States.
Who Must Report: U.S. persons (a) who are U.S. residents and are
not owned 50 percent or more by another U.S.-resident entity but (b)
who are not depository institutions, bank holding companies, financial
holding companies, or securities brokers and dealers subject to the
requirements for filing TIC B reports, must report: on Form CQ-1, Part
1 if the total of their reportable financial liabilities to foreigners
(sections A and B) is $50 million or more; on Form CQ-1, Part 2 if the
total of their reportable financial claims on foreigners (sections A
and B) is $50 million or more; on Form CQ-2, Part 1 if the total of
their reportable commercial liabilities to unaffiliated foreigners is
$25 million or more; on Form CQ-2, Part 2 if the total of their
reportable commercial claims on unaffiliated foreigners is $25 million
or more. Provided, however, that insurance underwriting companies that
are U.S. persons and that are subsidiaries of bank holding companies
and financial holding companies are subject to the foregoing reporting
requirements.
What to Report: These reports collect timely information on
international portfolio capital movements vis-[agrave]-vis foreign
countries and international and regional organizations as follows: Form
CQ-1 collects information on reporter's financial liabilities to, and
financial claims on, foreign residents; and Form CQ-2 collects
information on reporter's commercial liabilities to, and commercial
claims on, unaffiliated foreign residents.
How to Report: Copies of the reporting forms and instructions,
which contain complete information on reporting procedures and
definitions, can be obtained by contacting the statistics unit of the
Federal Reserve Bank of New York at (212) 720-8037, e-mail:
Patricia.Selvaggi@ny.frb.org. The mailing address is: Federal Reserve
Bank of New York, Statistics Function, 4th Floor, 33 Liberty Street,
New York, NY 10045-0001.
When to Report: Data on the revised TIC C-forms should be submitted
to the Federal Reserve Bank of New York, acting as fiscal agent for the
Department of the Treasury, beginning with the reporting period as of
March 31, 2003 and thereafter.
Paperwork Reduction Act Notice: This data collection has been
approved by the Office of Management and Budget (OMB) in accordance
with the Paperwork Reduction Act and assigned control number 1505-0024.
An agency may not conduct or sponsor, and a person is not required to
respond to, a collection of information unless it displays a valid
control number assigned by OMB.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting
Systems.
[FR Doc. 02-29764 Filed 11-21-02; 8:45 am]
BILLING CODE 4810-25-P