Proposed Collection; Comment Request, 86410-86411 [2024-25165]

Agencies

• DEPARTMENT OF THE TREASURY

[Federal Register Volume 89, Number 210 (Wednesday, October 30, 2024)]
[Notices]
[Pages 86410-86411]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[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 ([email protected]), 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: 
https://home.treasury.gov/data/treasury-international-capital-tic-system-home-page/tic-forms-instructions/forms-shl. Requests for 
additional information should be directed to Mr. Wolkow 
([email protected] 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