Agency Information Collection Activities; Submission for OMB Review; Comment Request; Treasury Foreign Currency (TFC) Forms FC-1, FC-2 & FC-3

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Published

March 27, 2024

Issuing agencies

Treasury Department

Abstract

The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on this request.

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<title>Federal Register, Volume 89 Issue 60 (Wednesday, March 27, 2024)</title>
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[Federal Register Volume 89, Number 60 (Wednesday, March 27, 2024)]
[Notices]
[Page 21419]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-06467]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Treasury Foreign Currency (TFC) Forms FC-1, 
FC-2 & FC-3

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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SUMMARY: The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on this request.

DATES: Comments should be received on or before April 26, 2024 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: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing <a href="/cdn-cgi/l/email-protection#f5a5a7b4b5818790948680878cdb929a83"><span class="__cf_email__" data-cfemail="bbebe9fafbcfc9dedac8cec9c295dcd4cd">[email&#160;protected]</span></a>, calling 
(202) 927-5331, or viewing the entire information collection request at 
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.

SUPPLEMENTARY INFORMATION: Title: Treasury Foreign Currency (TFC) Forms 
FC-1, FC-2 & FC-3.
    OMB Control Number: 1505-0010.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Completion of Foreign Currency Forms FC-1, FC-2, and 
FC-3, to be filed by major market participants, is required under Title 
II of Public Law 93-110 (87 Stat. 352, 31 U.S.C. 5315), and 
implementing regulations.
    The data collected on Foreign Currency Forms FC-1, FC-2 and FC-3 
are used in connection with supplemental information from other sources 
to better understand the sources and nature of mobile capital flows 
which can have a significant impact on the functioning of the 
international monetary system. Aggregate data from these forms are 
published quarterly in the ``Foreign Currency Positions'' section of 
the Treasury Bulletin. Data reported by individual firms may be made 
available to other Federal agencies and to the Federal Reserve District 
Banks. Data are made available to the Federal Reserve System for 
analysis of market forces to aid in the formulation and implementation 
of U.S. monetary policy and operations in foreign exchange markets. In 
addition, data reported by individual banks may be made available to 
the Federal Reserve Board insofar as authorized by Section 11(a) of the 
Federal Reserve Act, as amended (12 U.S.C. 248(a)(2)).
    Form: FC-1, FC-2 and FC-3.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: Form FC-1: 29 respondents. Form 
FC-2: 29 respondents. Form FC-3: 48 respondents.
    Frequency of Response: Form FC-1: Weekly. Form FC-2: Monthly. Form 
FC-3: Quarterly.
    Estimated Total Number of Annual Responses: 2,048.
    Estimated Time per Response: Form FC-1: 48 minutes (0.8 hours). 
Form FC-2: 3 hours, 36 minutes (3.6 hours). Form FC-3: 8 hours.
    Estimated Total Annual Burden Hours: 3,995.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-06467 Filed 3-26-24; 8:45 am]
BILLING CODE 4810-AK-P


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