Notices. Notice and request for comments
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/register/2000/06/15/00-15067A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 4810-25-M DEPARTMENT OF THE TREASURY Departmental Offices, Proposed Collections; Comment Requests ACTION: Notice and request for comments. 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 an information collection that is due for revision 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-2, Part 1;
Liabilities to, and Claims on, Foreigners of Reporting Bank, Broker or Dealer, and Part 2: domestic Customers' Claims on Foreigners Held by Reporting Bank, Broker or Dealer, Denominated in Foreign Currencies. DATES: Written comments should be received on or before August 14, 2000. ADDRESSES: Direct all written comments to Dwight Wolkow, Administrator, International Portfolio Investment Data Systems, Department of the Treasury, Room 5205 Mt, 1500 Pennsylvania Avenue NW, Washington, DC 20220.
FOR FURTHER INFORMATION CONTACT: Copies of the proposed revised form and instructions are available at the Related Links section of Treasury's TIC Capital Movements web site: http://www.ustreas.gob/tic/. Requests for additional information should be directed to Dwight Wolkow, Administrator, International Portfolio Investment Data Systems, Department of the Treasury, Room 5205 M, 1500 Pennsylvania Avenue NW., Washington, DC 20220, phone
(202)622-1276, FAX
(202)622-7448. SUPPLEMENTARY INFORMATION: *Titles:* Treasury International Capital Form BQ-2, Part 1: Liabilities to, and Claims on, Foreigners of Reporting Bank, Broker or Dealer, and Part 2: Domestic Customers' Claims on Foreigners Held by Reporting Bank, Broker or Dealer, Denominated in Foreign Currencies. *OMB Control Number:* 1505-0020 *Abstract:* Form BQ-2 is required by law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 10033; 31 CFR part 128) and is designed to collect timely information on international portfolio capital movements. Form BQ-2 is a quarterly report that covers the liabilities to and claims on foreigners of banks, brokers and dealers, and the custody claims on foreigners of banks, brokers and dealers, that are denominated in foreign currencies. 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 exemption level for reporting positions will be raised from $15 million at end-quarter; institutions will be exempt from reporting if they had both:
(1)Less than $50 million at end-quarter to report; and
(2)they had less than $25 million at end-quarter to report vis-a-vis all counterparties in any one country;
(b)There will be a reduction in the reporting of International Banking Facilities
(IBFs)so that banking organizations will report on a consolidated basis. An addendum row will be added to the bottom of Part 1 of the form to report total IBF liabilities and total IBF assets by sector/instrument;
(c)The geographic detail will increase slightly by adding lines for Luxembourg, the combined Channel Islands & Isle of Man, New Zealand, the Caribbean region, and the European Central Bank. The British West Indies line will be replaced with a Cayman Islands line;
(d)Memorandum rows will be added on the BQ-2 form for the reporting of foreign currency transactions by sector/instrument for the following currencies: Euro, Pound Sterling, Yen, and Canadian Dollar. The form will be redesigned so it will be available for downloading from the TIC web site. Theses changes will be effective as of January 31, 2001. *Type of Review:* Revision of a currently approved collection. *Affected Public:* Business or other for-profit organizations. Form BQ-2 (1505-0020) *Estimated Number of Respondents:* 90. *Estimated Average Time per Respondent:* Four and one/half (4.5) hours per respondent per filing. *Estimated Total Annual Burden Hours:* 1,620 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 requests for OMB approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: Whether Form BQ-2 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 record keeping 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. 00-15067 Filed 6-14-00; 8:45 am]
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- 31 CFR 128
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