[Federal Register: April 22, 2002 (Volume 67, Number 77)]
[Notices]
[Page 19619]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22ap02-121]
[[Page 19619]]
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DEPARTMENT OF THE TREASURY
Departmental Offices
Proposed Collection; Comment Request
ACTION: Notice and request for comments.
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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 Program Services within the Department of the
Treasury is soliciting comments concerning Treasury International
Capital Form BQ-1, Report by Depository Institutions, Brokers and
Dealers of Customers' U.S. Dollar Claims on Foreigners.
DATES: Written comments should be received on or before June 21, 2002
to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, International
Portfolio Investment Data Systems, Department of the Treasury, Room
5457 MT, 1500 Pennsylvania Avenue NW., Washington DC 20220. In view of
delays in mail delivery due to recent events, please also notify Mr.
Wolkow by email (dwight.wolkow@do.treas.gov), FAX (202-622-7448) or
telephone (202-622-1276).
FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and
instructions are available on the Treasury's TIC Forms webpage, http://
www.treas.gov/tic/forms.htm. Requests for additional information should
be directed to Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital Form BQ-1. Report by
Depository Institutions, Brokers and Dealers of Customers' U.S. Dollar
Claims on Foreigners.
OMB Control Number: 1505-0016.
Abstract: Form BQ-1 is 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 C.F.R. 128) and is designed to collect
timely information on international portfolio capital movements. This
quarterly report filed by depository institutions, brokers and dealers
covers their U.S. customers' dollar claims vis-a-vis foreign residents.
This information is necessary for compiling the U.S. balance of
payments accounts, for calculating the U.S. international investment
position, and for formulating U.S. international financial and monetary
policies. Current Actions: (a) Bank Holding Companies and Financial
Holding Companies (BHCs/FHCs) will each consolidate the BHC/FHC and all
subsidiaries, OTHER THAN banking or broker or dealer subsidiaries, and
file TIC Form CQ-1 (banks and brokers and dealers will continue to file
TIC-B series reports). This treatment is designed to reduce reporting
burdens since the TIC C reports are less detailed and are filed only
quarterly. (b) More claims of the domestic customers of depository
institutions, brokers and dealers will be reportable. The title of the
BQ-1 report is changed from ``Custody'' claims to ``Customers'' ``
claims to reflect the fact that items other than traditional
``custody'' items are included. Non-custody items will include offshore
sweep agreements, loans of U.S. residents to foreigners that are
serviced by the reporter, and loans of non-bank U.S. residents to
managed foreign offices of the reporter. (c) The period of time a
reporter has to submit reports once the exemption level is exceeded has
been changed to the remainder of the current calendar year. (d) In Form
BQ-1, part I, Reporter's Own Claims, will be deleted. (e) In Form BQ-1,
the memorandum row for IBF Assets will be deleted. (f) In Form BQ-1, a
new column will be added for separate reporting of negotiable CDs and
other short-term securities. (g) In Form BQ-1, a memorandum cell for
commercial paper included in the other short-term securities column
will be added. (h) In Form BQ-1, a memorandum row for claims of bank
customers will be added. (i) These changes will be effective as of
February 28, 2003.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Form BQ-1 (1505-0016)
Estimated Number of Respondents: 310.
Estimated Average Time per Respondent: Two and two/tenths (2.2)
hours per respondent per filing. This average time varies from 4 hours
for the approximately 30 major reporters to 2 hours for the other
reporters.
Estimated Total Annual Burden Hours: 2,720 hours, based on four
reporting periods per year.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. The public is invited
to submit written comments concerning: whether Form BQ-1 is necessary
for the proper performance of the functions of the Office, including
whether the information collected has practical uses; the accuracy of
the above burden estimates; ways to enhance the quality, usefulness,
and clarity of the information to be collected; ways to minimize the
reporting and/or recordkeeping burdens on respondents, including the
use of information technologies to automate the collection of the data;
and estimates of capital or start-up costs of operation, maintenance,
and purchases of services to provide information.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 02-9603 Filed 4-19-02; 8:45 am]
BILLING CODE 4810-25-P