Office of the Assistant Secretary for International Affairs; Survey of U.S. Ownership of Foreign Securities as of December 31, 2021

Issuing agencies

Abstract

By this Notice, the Department of the Treasury is informing the public that it is conducting a mandatory survey of ownership of foreign securities by U.S. residents as of December 31, 2021. This Notice constitutes legal notification to all United States persons (defined below) who meet the reporting requirements set forth in this Notice that they must respond to, and comply with, this survey. The reporting form SHC (2021) and instructions may be printed from the internet at: https://home.treasury.gov/data/treasury-international- capital-tic-system-home-page/tic-forms-instructions/forms-shc. Definition: Pursuant to 22 U.S.C. 3102(3) and (4): A person means any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government- sponsored agency); and a United States person means any person resident in the United States or subject to the jurisdiction of the United States. Who Must Report: The following United States (U.S.) persons must report on this survey: <bullet> U.S. persons who manage, as custodians, the safekeeping of foreign securities for themselves and other U.S. persons. These U.S. persons, who include the affiliates in the United States of foreign entities, must report on this survey if the total fair value of the foreign securities whose safekeeping they manage on behalf of U.S. persons--aggregated over all accounts and for all U.S. branches and affiliates of their firm--is $200 million or more as of the close of business on December 31, 2021. <bullet> U.S. persons who own foreign securities for their own portfolios and/or who invest in foreign securities on behalf of others, such as investment managers/fund sponsors. These U.S. persons (referred to as "end-investors"), who include the affiliates in the United States of foreign entities, must report on this survey if the total fair value of these foreign securities--aggregated over all accounts and for all U.S. branches and affiliates of their firm--is $200 million or more as of the close of business on December 31, 2021. <bullet> U.S. persons who are notified by letter from the Federal Reserve Bank of New York. These U.S. persons must file Schedule 1, even if the recipient of the letter is under the reporting threshold of $200 million and need only report "exempt" on Schedule 1. These U.S. persons who meet the reporting threshold must also file Schedule 2 and/ or Schedule 3. What To Report: This report will collect information on holdings by U.S. residents of foreign securities, including equities, long-term debt securities, and short-term debt securities (including selected money market instruments). How To Report: Copies of the survey forms and instructions, which contain complete information on reporting procedures and definitions, may be obtained at the website address given above in the SUMMARY. Completed reports can be submitted electronically or via email at SHC.help@ny.frb.org. Inquiries can be made to the survey staff of the Federal Reserve Bank of New York at (212) 720-6300 or email: SHC.help@ny.frb.org. Inquiries can also be made to Dwight Wolkow at (202) 622-1276, email: comments2TIC@do.treas.gov. When To Report: Data must be submitted to the Federal Reserve Bank of New York, acting as fiscal agent for the Department of the Treasury, by March 4, 2022. Paperwork Reduction Act Notice: This data collection has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act and assigned control number 1505-0146. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. The estimated average annual burden associated with this collection of information is 49 hours per respondent for end-investors and custodians that file Schedule 3 reports covering their foreign securities entrusted to U.S. resident custodians, 146 hours per respondent for large end-investors filing Schedule 2 reports, and 546 hours per respondent for large custodians of securities filing Schedule 2 reports. Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be directed to the Department of the Treasury, Attention: Administrator, International Portfolio Investment Data Reporting Systems, Room 1050, Washington, DC 20220, and to OMB, Attention: Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503. In light of the current pandemic, please also email comments to Dwight Wolkow at: comments2TIC@do.treas.gov.

Full Text

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<title>Federal Register, Volume 86 Issue 233 (Wednesday, December 8, 2021)</title>
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[Federal Register Volume 86, Number 233 (Wednesday, December 8, 2021)]
[Notices]
[Page 69714]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-26589]


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DEPARTMENT OF THE TREASURY


Office of the Assistant Secretary for International Affairs; 
Survey of U.S. Ownership of Foreign Securities as of December 31, 2021

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of reporting requirements.

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SUMMARY: By this Notice, the Department of the Treasury is informing 
the public that it is conducting a mandatory survey of ownership of 
foreign securities by U.S. residents as of December 31, 2021. This 
Notice constitutes legal notification to all United States persons 
(defined below) who meet the reporting requirements set forth in this 
Notice that they must respond to, and comply with, this survey. The 
reporting form SHC (2021) and instructions may be printed from the 
internet at: <a href="https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shc">https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shc</a>.
    Definition: Pursuant to 22 U.S.C. 3102(3) and (4): A person means 
any individual, branch, partnership, associated group, association, 
estate, trust, corporation, or other organization (whether or not 
organized under the laws of any State), and any government (including a 
foreign government, the United States Government, a State or local 
government, and any agency, corporation, financial institution, or 
other entity or instrumentality thereof, including a government-
sponsored agency); and a United States person means any person resident 
in the United States or subject to the jurisdiction of the United 
States.
    Who Must Report: The following United States (U.S.) persons must 
report on this survey:
    <bullet> U.S. persons who manage, as custodians, the safekeeping of 
foreign securities for themselves and other U.S. persons. These U.S. 
persons, who include the affiliates in the United States of foreign 
entities, must report on this survey if the total fair value of the 
foreign securities whose safekeeping they manage on behalf of U.S. 
persons--aggregated over all accounts and for all U.S. branches and 
affiliates of their firm--is $200 million or more as of the close of 
business on December 31, 2021.
    <bullet> U.S. persons who own foreign securities for their own 
portfolios and/or who invest in foreign securities on behalf of others, 
such as investment managers/fund sponsors. These U.S. persons (referred 
to as ``end-investors''), who include the affiliates in the United 
States of foreign entities, must report on this survey if the total 
fair value of these foreign securities--aggregated over all accounts 
and for all U.S. branches and affiliates of their firm--is $200 million 
or more as of the close of business on December 31, 2021.
    <bullet> U.S. persons who are notified by letter from the Federal 
Reserve Bank of New York. These U.S. persons must file Schedule 1, even 
if the recipient of the letter is under the reporting threshold of $200 
million and need only report ``exempt'' on Schedule 1. These U.S. 
persons who meet the reporting threshold must also file Schedule 2 and/
or Schedule 3.
    What To Report: This report will collect information on holdings by 
U.S. residents of foreign securities, including equities, long-term 
debt securities, and short-term debt securities (including selected 
money market instruments).
    How To Report: Copies of the survey forms and instructions, which 
contain complete information on reporting procedures and definitions, 
may be obtained at the website address given above in the SUMMARY. 
Completed reports can be submitted electronically or via email at 
<a href="/cdn-cgi/l/email-protection#a5f6ede68bcdc0c9d5e5cbdc8bc3d7c78bcad7c2"><span class="__cf_email__" data-cfemail="45160d066b2d202935052b3c6b2337276b2a3722">[email&#160;protected]</span></a>. Inquiries can be made to the survey staff of the 
Federal Reserve Bank of New York at (212) 720-6300 or email: 
<a href="/cdn-cgi/l/email-protection#f5a6bdb6db9d909985b59b8cdb938797db9a8792"><span class="__cf_email__" data-cfemail="25766d660b4d404955654b5c0b4357470b4a5742">[email&#160;protected]</span></a>. Inquiries can also be made to Dwight Wolkow at 
(202) 622-1276, email: <a href="/cdn-cgi/l/email-protection#5d3e3230303833292e6f09141e1d393273292f383c2e733a322b"><span class="__cf_email__" data-cfemail="f0939f9d9d959e8483c2a4b9b3b0949fde8482959183de979f86">[email&#160;protected]</span></a>.
    When To Report: Data must be submitted to the Federal Reserve Bank 
of New York, acting as fiscal agent for the Department of the Treasury, 
by March 4, 2022.
    Paperwork Reduction Act Notice: This data collection has been 
approved by the Office of Management and Budget (OMB) in accordance 
with the Paperwork Reduction Act and assigned control number 1505-0146. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid 
control number assigned by OMB. The estimated average annual burden 
associated with this collection of information is 49 hours per 
respondent for end-investors and custodians that file Schedule 3 
reports covering their foreign securities entrusted to U.S. resident 
custodians, 146 hours per respondent for large end-investors filing 
Schedule 2 reports, and 546 hours per respondent for large custodians 
of securities filing Schedule 2 reports. Comments concerning the 
accuracy of this burden estimate and suggestions for reducing this 
burden should be directed to the Department of the Treasury, Attention: 
Administrator, International Portfolio Investment Data Reporting 
Systems, Room 1050, Washington, DC 20220, and to OMB, Attention: Desk 
Officer for the Department of the Treasury, Office of Information and 
Regulatory Affairs, Washington, DC 20503. In light of the current 
pandemic, please also email comments to Dwight Wolkow at: 
<a href="/cdn-cgi/l/email-protection#fe9d9193939b908a8dccaab7bdbe9a91d08a8c9b9f8dd0999188"><span class="__cf_email__" data-cfemail="c3a0acaeaea6adb7b0f1978a8083a7acedb7b1a6a2b0eda4acb5">[email&#160;protected]</span></a>.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting 
Systems.
[FR Doc. 2021-26589 Filed 12-7-21; 8:45 am]
BILLING CODE 4810-AK-P


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