Notice2024-25165
Proposed Collection; Comment 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
October 30, 2024
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 an information collection that is due for extension approval by the Office of Management and Budget. The Office of International Affairs of the Department of the Treasury is soliciting comments concerning extension with minor changes of the following form: Treasury International Capital Form SHL/SHLA, "Survey of Foreign-Residents' Holdings of U.S. Securities, including Selected Money Market Instruments". The report is mandatory. The next such collection is the annual survey to be conducted as of End-June, 2025.
Full Text
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<title>Federal Register, Volume 89 Issue 210 (Wednesday, October 30, 2024)</title>
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[Federal Register Volume 89, Number 210 (Wednesday, October 30, 2024)]
[Notices]
[Pages 86410-86411]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-25165]
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DEPARTMENT OF THE TREASURY
Proposed Collection; Comment Request
AGENCY: Departmental Offices; Department of the Treasury.
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 extension approval by the Office of Management and Budget. The
Office of International Affairs of the Department of the Treasury is
soliciting comments concerning extension with minor changes of the
following form: Treasury International Capital Form SHL/SHLA, ``Survey
of Foreign-Residents' Holdings of U.S. Securities, including Selected
Money Market Instruments''. The report is mandatory. The next such
collection is the annual survey to be conducted as of End-June, 2025.
DATES: Written comments should be received on or before December 30,
2024 to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, International
Portfolio Investment Data Systems, Department of the Treasury, Room
1050 MT, 1500 Pennsylvania Avenue NW, Washington, DC 20220. In view of
possible delays in mail delivery, please also notify Mr. Wolkow by
email (<a href="/cdn-cgi/l/email-protection#395a5654545c574d4a0b6d707a794d4b5c584a4c4b40175e564f"><span class="__cf_email__" data-cfemail="32515d5f5f575c464100667b7172464057534147404b1c555d44">[email protected]</span></a>), 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 at:
<a href="https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shl">https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shl</a>. Requests for
additional information should be directed to Mr. Wolkow
(<a href="/cdn-cgi/l/email-protection#abc8c4c6c6cec5dfd899ffe2e8ebdfd9cecad8ded9d285ccc4dd"><span class="__cf_email__" data-cfemail="88ebe7e5e5ede6fcfbbadcc1cbc8fcfaede9fbfdfaf1a6efe7fe">[email protected]</span></a> or 202-622-1276).
SUPPLEMENTARY INFORMATION:
Title: Treasury International Capital Form SHL/SHLA, ``Survey of
Foreign-Residents' Holdings of U.S. Securities, including Selected
Money Market Instruments''.
OMB Control Number: 1505-0123.
Abstract: Form SHL/SHLA is part of the Treasury International
Capital (TIC) reporting system, which is required by law (22 U.S.C.
3101 et seq.; E.O. 11961; 31 CFR 129) and is used to conduct annual
surveys of foreign-residents' holdings of U.S. securities for portfolio
investment purposes. This information is used by the U.S. Government in
the formulation of international financial and monetary policies and
for the preparation of the U.S. balance of payments accounts and the
U.S. international investment position. This information is also used
to provide information to the public and to meet international
reporting commitments.
[[Page 86411]]
The data collection includes large benchmark surveys (Form SHL)
conducted every five years, and smaller annual surveys (Form SHLA)
conducted in the non-benchmark years. The data collected under an
annual survey are used in conjunction with the results of the preceding
benchmark survey and of recent reporting on TIC form SLT (``Aggregate
Holdings, Purchases and Sales, and Fair Value Changes of Long-Term
Securities by U.S. and Foreign Residents'') to make economy-wide
estimates for that non-benchmark year. Currently, the determination of
who must report in the annual surveys is based primarily on the data
submitted during the preceding benchmark survey and on data submitted
on SLT reporting. The data requested in the annual survey will
generally be the same as requested in the preceding benchmark report.
Form SHL is used for the benchmark survey of all significant U.S.-
resident custodians and U.S.-resident issuers of securities regarding
foreign-residents' holdings of U.S. securities. In non-benchmark years,
Form SHLA is used for the annual surveys of primarily the largest U.S.-
resident custodians and issuers.
Current Actions: No changes in the forms (schedules) are being
proposed at this time. Some minor changes in the instructions are being
proposed, primarily to include clarifications requested by respondents
during their reporting for the 2022 and 2023 surveys. No changes in the
forms (schedules) are being proposed at this time. Some minor changes
in the instructions are being proposed, primarily to include
clarifications requested by respondents during their reporting for the
2022 and 2023 surveys. The minor changes include: (1) necessary updates
in the cover page, contact information, dates, links to information,
and Appendix E, List of Currency Codes; (2) clarifications about the
handling of securities involved in repurchase and securities lending
arrangements in (i) the second paragraph of section III; in (ii)
section III.B; and in (iii) section III.F; (3) clarifications about the
security types mentioned in the form, such as in the beginning of
section III.E and in item 12 of section V.B, where Type 4 is specified
to include limited partners (``LPs'') and similar companies that do not
meet the definition of funds; and (5) numerous other clarifications
achieved through rewording and format changes to improve the
instructions.
Type of Review: Extension, with minor changes, of a currently
approved collection.
Affected Public: Business or other for-profit organizations.
Form: SHL/SHLA, Schedules 1 and 2 (1505-0123).
Estimated Number of Respondents: An annual average (over five
years) of 317, but this varies widely from about 840 in benchmark years
(once every five years) to about 185 in other years (four out of every
five years).
Estimated Average Time per Respondent: An annual average (over five
years) of about 133 hours, but this will vary widely from respondent to
respondent. (a) In the year of a benchmark survey, which is conducted
once every five years, it is estimated that exempt respondents will
require an average of 17 hours; for custodians of securities, the
estimate is a total of 321 hours on average, but this figure will vary
widely for individual custodians; and for issuers of securities that
have data to report and are not custodians, the estimate is 61 hours on
average. (b) In a non-benchmark year, which occurs four years out of
every five years, it is estimated that the largest custodians of
securities will require a total of 486 hours on average; and for the
largest issuers of securities that have data to report and are not
custodians, the estimate is 110 hours on average. The exemption level
for custodians and for end-investors, that applies only in benchmark
years, is the holding of less than $200 million in reportable U.S.
securities owned by foreign residents.
Estimated Total Annual Burden Hours: An annual average (over five
years) of 42,035 hours.
Frequency of Response: Annual.
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, inter alia: (a) Whether the Survey is necessary for the
proper performance of the functions of the Office of International
Affairs within the Department of the Treasury, including whether the
information collected 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 requested; and (e) estimates of capital or
start-up costs of operation, maintenance and purchase of services to
provide the information requested.
Dwight Wolkow,
Administrator, International Portfolio Investment Data Reporting
Systems.
[FR Doc. 2024-25165 Filed 10-29-24; 8:45 am]
BILLING CODE 4810-AK-P
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