[Federal Register: July 29, 2005 (Volume 70, Number 145)]
[Notices]
[Page 43946-43947]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr29jy05-178]
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DEPARTMENT OF THE TREASURY
Proposed Collections; Comment Requests
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 the revision of an information
collection that is 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 Treasury
International Capital Form S, Purchases and Sales of Long-term
Securities by Foreigners.
DATES: Written comments should be received on or before September 27,
2005 to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, International
Portfolio Investment Data Systems, Department of the Treasury, Room
4410-1440NYA, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. In
view of possible delays in mail delivery, please also notify Mr. Wolkow
by e-mail (dwight.wolkow@do.treas.gov), fax (202) 622-1207 or telephone
(202) 622-1276.
FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and
instructions are available on the Treasury's TIC Forms Web page, http://www.treas.gov/tic/forms.html.
Requests for additional information
should be directed to Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital Form S, Purchases and Sales
of Long-term Securities by Foreigners.
OMB Control Number: 1505-0001.
Abstract: Form S 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 CFR 128), and is designed to collect timely
information on international portfolio capital movements. Form S is a
monthly report used to cover transactions in long-term marketable
securities undertaken DIRECTLY with foreigners by banks, other
depository institutions, brokers, dealers, underwriting groups and
other individuals and institutions. 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) The list for reporting the location of foreign
counterparties on all TIC reporting forms will be increased to a total
of roughly 245 countries and other areas. This longer list is
essentially the same as the lists used for years in the TIC benchmark
and annual reports, and thus will establish a uniform list of
countries/areas consistent across all TIC reporting forms. Comments
from TIC respondents indicate that their modern computerized database
systems can easily produce all TIC reports for this longer list of
countries/areas. This change will apply to the monthly and quarterly B-
forms, C-forms, Form D and Form S and will allow three TIC forms
BC(SA), BL-1(SA) and BL-(SA) to be eliminated. This action is expected
to result in an overall reduction in burden for TIC respondents as a
whole, as well as satisfying Treasury's need for more timely
information on a larger number of countries. Comments from TIC
respondents indicate that the combination of the longer uniform country
list and the virtual elimination of rows for ``other countries'' will
reduce significantly the total burden from all TIC reports, including
the burdens of cross-checking information, responding to inquiries from
data compilers, and making revisions to data reports; and (b) these
changes will be effective beginning with the reports as of June 30,
2006.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Form S (1505-0001).
Estimated Number of Respondents: 240.
Estimated Average Time per Respondent: Five and six/tenths (5.6)
hours per respondent per filing. The estimated average time per
respondent varies from 10 hours for the approximately 30 major
reporters to 5 hours for the other reporters.
Estimated Total Annual Burden Hours: 16,200 hours, based on 12
reporting periods 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 Form S is 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,
[[Page 43947]]
maintenance and purchase of services to provide information.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 05-15014 Filed 7-28-05; 8:45 am]
BILLING CODE 4811-33-P