[Federal Register: July 22, 2005 (Volume 70, Number 140)]
[Notices]
[Page 42409-42410]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr22jy05-117]
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DEPARTMENT OF THE TREASURY
Departmental Offices; 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 revisions of an information
collection that are 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 (TIC) Form BQ-3, Report of Maturities of Selected
Liabilities of Depository Institutions, Brokers and Dealers to
Foreigners.
DATES: Written comments should be received on or before September 20,
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:
Titles: Treasury International Capital Form BQ-3, Report of
Maturities of Selected Liabilities of Depository Institutions, Brokers
and Dealers to Foreigners.
OMB Control Number: 1505-0189.
Abstract: Form BQ-3 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 BQ-3 is
a quarterly report designed to capture, by instrument and on an
aggregate basis, remaining maturities of all U.S. dollar and foreign
currency liabilities (excluding securities) of U.S. resident banks,
other depository institutions, brokers and dealers vis-a-vis foreign
residents. This information is necessary for meeting international data
reporting
[[Page 42410]]
standards 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 the semiannual B-forms
to be eliminated (see action b below). 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; (b) the
semiannual reports BC(SA), BL-1(SA) and BL-2(SA) will be eliminated.
These reports for about 130 countries/areas will be made unnecessary by
action (a) above; and (c) 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 BQ-3 (1505-0189)
Estimated Number of Respondents: 55.
Estimated Average Time per Respondent: Four (4) hours per
respondent per filing.
Estimated Total Annual Burden Hours: 880 hours, based on 4
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 BQ-3 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,
maintenance and purchase of services to provide information.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 05-14463 Filed 7-21-05; 8:45 am]
BILLING CODE 4810-25-P