[Code of Federal Regulations]
[Title 31, Volume 1]
[Revised as of July 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 31CFR128.1]

[Page 405]
 
                  TITLE 31--MONEY AND FINANCE: TREASURY
 
                       DEPARTMENT OF THE TREASURY
 
PART 128--REPORTING OF INTERNATIONAL CAPITAL AND FOREIGN-CURRENCY TRANSACTIONS AND POSITIONS--Table of Contents
 
                     Subpart A--General Information
 
Sec. 128.1  General reporting requirements.


    (a) International capital transactions and positions. (1) In order 
to implement the International Investment and Trade in Services Survey 
Act, as amended (22 U.S.C. 3101 et seq.); and E.O. 11961, and to obtain 
information requested by the International Monetary Fund under the 
articles of agreement of the Fund pursuant to section 8(a) of the 
Bretton Woods Agreements Act (22 U.S.C. 286f) and E.O. 10033, persons 
subject to the jurisdiction of the United States are required to report 
information pertaining to--
    (i) United States claims on, and liabilities to, foreigners;
    (ii) Transactions in securities and other financial assets with 
foreigners; and
    (iii) The monetary reserves of the United States.
    (2) Data pertaining to direct investment transactions are not 
required to be reported under this Part.
    (3) Reports shall be made in such manner and at such intervals as 
specified by the Secretary of the Treasury. See subpart B of this part 
for additional requirements concerning these reports.
    (b) Foreign currency positions. (1) In order to provide data on the 
nature and source of flows of mobile capital, including transactions by 
large United States business enterprises (as determined by the 
Secretary) and their foreign affiliates as required by 31 U.S.C. 5315, 
persons subject to the jurisdiction of the United States are required to 
report information pertaining to--
    (i) Transactions in foreign exchange;
    (ii) Transfers of credit that are, in whole or part, denominated in 
a foreign currency; and
    (iii) The creation or acquisition of claims that reference 
transactions, holdings, or evaluations of foreign exchange.
    (2) Reports shall be made in such manner and at such intervals as 
specified by the Secretary. See subpart C of this part for additional 
requirements concerning these reports.
    (c) Notice of reports. Notice of reports required by this part, 
specification of persons required to file report, and forms to be used 
to file reports will be published in the Federal Register. Persons 
currently required to file reports shall continue to file such reports 
using existing Treasury International Capital Forms BL-1/BL-1(SA), BL-2/
BL-2(SA), BL-3, BC/BC(SA), BQ-1, BQ-2, CM, CQ-1, CQ-2, S, and existing 
Treasury Foreign Currency Forms FC-1, FC-2, FC-3, and FC-4 until further 
notice is published in the Federal Register.