83 FR 19405 - Proposed Collections; Comment Requests

DEPARTMENT OF THE TREASURY

Federal Register Volume 83, Issue 85 (May 2, 2018)

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 the revision of an information collection that is 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 Treasury International Capital Form D, Report of Holdings of, and Transactions in, Financial Derivatives Contracts with Foreign Residents.

[Federal Register Volume 83, Number 85 (Wednesday, May 2, 2018)]
[Notices]
[Pages 19405-19406]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09283]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Proposed Collections; Comment Requests

AGENCY: Departmental Offices, Department of the Treasury.

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 the revision of an information 
collection that is 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 Treasury 
International Capital Form D, Report of Holdings of, and Transactions 
in, Financial Derivatives Contracts with Foreign Residents.

DATES: Written comments should be received on or before July 2, 2018 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Dwight Wolkow, International 
Portfolio Investment Data Systems, Department of the Treasury, Room 
5422, 1500 Pennsylvania Avenue NW, Washington DC 20220. In view of 
possible delays in mail delivery, please also notify Mr. Wolkow by 
email ([email protected]), FAX (202-622-2009) or telephone 
(202-622-1276).

FOR FURTHER INFORMATION CONTACT: Copies of the proposed forms and 
instructions are available on the Treasury's TIC Forms webpage, http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx. Requests for additional information should be directed to 
Mr. Wolkow at (202) 622-1276.

SUPPLEMENTARY INFORMATION: 
    Title: Treasury International Capital Form D, Report of Holdings 
of, and Transactions in, Financial Derivatives Contracts With Foreign 
Residents.
    OMB Control Number: 1505-0199.
    Abstract: Form D is 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) for the purpose of providing 
timely information on international capital movements other

[[Page 19406]]

than direct investment by U.S. persons. Form D is a quarterly report 
used to cover holdings and transactions in derivatives contracts 
undertaken between foreign resident counterparties and major U.S.-
resident participants in derivatives markets. This information is 
necessary for compiling the U.S. balance of payments accounts and 
international investment position, and for formulating U.S. 
international financial and monetary policies.
    Current Actions: No changes in the form are being proposed at this 
time. The proposed changes in the instructions are:
    (1) The section I.C ``Who Must Report'' and sub-section 
``Consolidation'' of the instructions are updated to list out 
separately Intermediate Holding Companies (IHCs), as defined by 
Regulation YY, 12 CFR 252, and to clarify that IHCs should follow the 
same consolidation rules that are applicable to Bank Holding Companies 
(BHCs), Financial Holding Companies (FHCs), and Savings and Loan 
Holding Companies. Regulation YY was effective by January 1, 2015, and 
IHCs are filing TIC reports; this update will formalize their reporting 
requirements.
    (2) The glossaries for all Treasury International Capital (``TIC'') 
reports are consolidated into a single document which will provide more 
consistency across the TIC system. As a result, the TIC D reporting 
instructions will not include a glossary but will point to the separate 
consolidated TIC Glossary document on the Treasury website. See the 
March 2018 version and later versions.
    (3) Some other clarifications and format changes may be made to 
improve the instructions.
    Type of Review: Revision of a currently approved collection.
    Affected Public: Business or other for profit organizations.
    Form D (1505-0199).
    Estimated Number of Respondents: 35.
    Estimated Average Time per Respondent: Thirty (30) hours per 
respondent per filing. Estimated Total Annual Burden Hours: 4,200 
hours, based on 4 reporting periods per year.
    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: (a) Whether Form D is necessary for the proper performance 
of the functions of the Office, including whether the information 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; and (e) estimates 
of capital or start-up costs of operation, maintenance and purchase of 
services to provide information.

Dwight Wolkow,
Administrator, International Portfolio Investment Data Systems.
[FR Doc. 2018-09283 Filed 5-1-18; 8:45 am]
 BILLING CODE 4810-25-P