Notice2023-06391
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Departmental Offices Information Collection Request
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 28, 2023
Issuing agencies
Treasury Department
Abstract
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 the revisions of the Treasury International Capital (TIC) Forms BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3 (called the "TIC B forms").
Full Text
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<title>Federal Register, Volume 88 Issue 59 (Tuesday, March 28, 2023)</title>
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[Federal Register Volume 88, Number 59 (Tuesday, March 28, 2023)]
[Notices]
[Page 18374]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-06391]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; Departmental Offices Information Collection
Request
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
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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 the revisions of the
Treasury International Capital (TIC) Forms BC, BL-1, BL-2, BQ-1, BQ-2,
and BQ-3 (called the ``TIC B forms'').
DATES: Comments should be received on or before April 27, 2023 to be
assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection should be sent within 30 days of publication of
this notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Dwight Wolkow, International Portfolio
Investment Data Systems, Department of the Treasury, 202-622-1276.
Copies of the proposed TIC B Forms and instructions are available on
the Treasury's TIC Forms web page, <a href="https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions">https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions</a>. Requests for additional information should be directed to
Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Departmental Offices (DO)
Titles: Treasury International Capital (TIC) Form BC ``Monthly
Report of U.S. Dollar Claims of Financial Institutions on Foreign
Residents;'' TIC BL-1 ``Monthly Report of U.S. Dollar Liabilities of
Financial Institutions to Foreign Residents;'' TIC BL-2 ``Monthly
Report of Customers' U.S. Dollar Liabilities to Foreign Residents;''
TIC BQ-1 ``Quarterly Report of Customers' U.S. Dollar Claims on Foreign
Residents;'' TIC BQ-2 ``Part 1: Quarterly Report of Foreign Currency
Liabilities and Claims of Financial Institutions and of their Domestic
Customers' Foreign Currency Claims with Foreign Residents'' and ``Part
2: the Report of Customers' Foreign Currency Liabilities to Foreign
Residents;'' and TIC BQ-3 ``Quarterly Report of Maturities of Selected
Liabilities and Claims of Financial Institutions with Foreign
Residents.''
OMB Number: 1505-0016.
Abstract: Forms BC, BL-1, BL-2, BQ-1, BQ-2, BQ-3 are 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 are designed to collect timely information on international
portfolio capital movements. These forms are filed by U.S.-resident
financial institutions that are not exempt. On the monthly forms, these
organizations report their own claims on (BC), their own liabilities to
(BL-1), and their U.S. customers' liabilities to (BL-2) foreign
residents, denominated in U.S. dollars. On the quarterly forms, these
organizations report their U.S.-resident customers' U.S. dollar claims
on foreign residents (BQ-1), and their own and their domestic
customers' claims and liabilities with foreign residents, where all
claims and liabilities are denominated in foreign currencies (BQ-2). On
the quarterly BQ-3 form, these organizations report the remaining
maturities of all their own U.S. dollar and foreign currency
liabilities and claims (excluding securities) with foreign residents.
This information is necessary for compiling the U.S. balance of
payments accounts and the U.S. international investment position, and
for use in formulating U.S. international financial and monetary
policies.
Current Actions: One change is proposed to page 18 of the
Instructions for the Treasury International Capital (TIC) Form B
Reports. In section I.D.1. ``General Instructions--Accounting Issues--
General'', add the following sentence as the new first sentence of the
existing first paragraph: ``These reports should be prepared in
accordance with generally accepted accounting principles (GAAP) and
these instructions.'' This additional text clarifies that balances are
expected to be reported according to GAAP. Similar text is found in the
FFIEC 009 instructions.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Forms: BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3.
Estimated Number of Respondents: BC, 320; BL-1, 360; BL-2, 110; BQ-
1, 85; BQ-2, 190 and BQ-3, 155.
Estimated Average Time per Respondent per Filing: BC, 11.2 hours;
BL-1, 7.7 hours; BL-2, 8.9 hours; BQ-1, 3.8 hours; BQ-2, 7.8 hours; and
BQ-3, 10.5 hours. The average time varies and is estimated to be
generally twice as many hours for major data reporters as for other
reporters.
Estimated Total Annual Burden Hours: BC, 43,170 hours for 12
reports per year; BL-1, 33,440 hours for 12 reports per year; BL-2,
11,760 hours for 12 reports per year; BQ-1, 1,290 hours for 4 reports
per year, BQ-2, 5,960 hours for 4 reports per year; and BQ-3, 6,510
hours for 4 reports per year.
Authority: 44 U.S.C. 3501 et seq.
Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-06391 Filed 3-27-23; 8:45 am]
BILLING CODE 4810-25-P
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