SUPPLEMENTARY INFORMATION:

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”; TIC BQ-2, Part 2, “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 Control 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. Reporting organizations report data as follows: own monthly claims on foreign residents, denominated in U.S. dollars (Form BC); own monthly liabilities to foreign residents, denominated in U.S. dollars (BL-1); U.S. customers' monthly liabilities to foreign residents, denominated in U.S. dollars (BL-2); U.S.-resident customers' quarterly U.S. dollar claims on foreign residents, denominated in foreign currencies (BQ-1); own and their domestic customers' quarterly claims and liabilities with foreign residents, denominated in foreign currencies (BQ-2); remaining maturities of all their own quarterly U.S. dollar and foreign currency liabilities and claims (excluding securities) with foreign residents. 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.

Current Actions: The following changes are proposed to the Instructions for the Treasury International Capital (TIC) Form B Reports. (1) Raise the reporting thresholds for the TIC BC, BL-1, BL-2, BQ-1, BQ-2 reports from $50 million for the Grand Total row and $25 million for any individual line item to $250 million for the Grand Total row and $100 million for any individual line item (“Exemption Levels,” section I.C.4). (2) Expand allowable signatures to include an individual performing equivalent functions to a duly authorized officer (“Signature Requirements,” section I.F.3). (3) Clarify that reporters include Central Clearing Counterparties (“Who Must Report,” section I.C). (4) Clarify that the definition of Foreign Official Institutions for the purposes of TIC reporting excludes enterprises that are owned by a government but that do not serve a governmental function such as national defense (“Foreign Official Institutions,” sections II.B.1a, III.B.1a, and IV.B.1a) (5) Clarify wording about how to fill in columns of TIC Form BQ-3 (“Non-Negotiable Deposits & Brokerage Balances (Column 1),” section VIII.C.1.a, and “Loan Claims Excluding Resale Agreements (Column 3),” section VIII.C.1.c).

Type of Review: Extension 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, 235; BL-1, 283; BL-2, 80; BQ-1, 46; BQ-2, 148; BQ-3, 118.

Estimated Average Time per Respondent per Filing: BC, 11.6 hours; BL-1, 7.9 hours; BL-2, 9.2 hours; BQ-1, 4.3 hours; BQ-2, 8.1 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, 32,712 hours for 12 reports per year; BL-1, 26,794 hours for 12 reports per year; BL-2, 8,842 hours for 12 reports per year; BQ-1, 795 hours for 4 reports per year, BQ-2, 4,801 hours for 4 reports per year; and BQ-3, 4,956 hours for 4 reports 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 Forms BC, BL-1, BL-2, BQ-1, BQ-2, and BQ-3 are 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.

91 FR 67910