Proposed Collection; Comment Request

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.

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.

[FR Doc. 2024-25165 Filed 10-29-24; 8:45 am]

BILLING CODE 4810-AK-P