[Federal Register Volume 76, Number 19 (Friday, January 28, 2011)]
[Notices]
[Page 5250]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2011-1952]
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DEPARTMENT OF THE TREASURY
Departmental Offices; Proposed Collection; Comment Request
ACTION: Notice and request for comments.
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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 Monetary and Financial Policy within the
Department of the Treasury is soliciting comments concerning Extension
of Foreign Currency Form FC-1 (OMB No. 1505-0012) Weekly Consolidated
Foreign Currency Report of Major Market Participants, Extension of Form
FC-2 (OMB No. 1505-0010) Monthly Consolidated Foreign Currency Report
of Major Market Participants, and Extension without change of Form FC-3
(OMB No. 1505-0014) Quarterly Consolidated Foreign Currency Report. The
reports are mandatory.
DATES: Written comments should be received on or before March 29, 2011
to be assured of consideration.
ADDRESSES: Direct all written comments to Dwight Wolkow, Office of
International Monetary and Financial Policy, 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 Federal Reserve Bank of New York's
Web site, in the section for Banking Reporting Forms and Instructions,
on the webpages for the TFC-1 and TFC-2 forms, for example at: http://www.ny.frb.org/banking/reportingforms/TFC_1.html. Requests for
additional information should be directed to Mr. Wolkow.
SUPPLEMENTARY INFORMATION:
Title: Weekly Consolidated Foreign Currency Report of Major Market
Participants, Foreign Currency Form FC-1.
OMB Control Number: 1505-0012.
Title: Monthly Consolidated Foreign Currency Report of Major Market
Participants, Foreign Currency Form FC-2.
OMB Control Number: 1505-0010.
Title: Quarterly Consolidated Foreign Currency Report, Foreign
Currency Form FC-3.
OMB Control Number: 1505-0014.
Abstract: The filing of Foreign Currency Forms FC-1, FC-2, and FC-3
is required by law (31 U.S.C. 5315, 31 CFR Part 128, Subpart C), which
directs the Secretary of the Treasury to prescribe regulations
requiring reports on foreign currency transactions conducted by a
United States person or a foreign person controlled by a United States
person. The forms collect data on the foreign exchange spot, forward,
futures, and options markets from all significant market participants.
Current Actions: None. No changes in the forms or instructions will be
made.
Type of Review: Extension of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents:
Foreign Currency Form FC-1: 22 respondents.
Foreign Currency Form FC-2: 22 respondents.
Foreign Currency Form FC-3: 38 respondents.
Estimated Average Time Per Response:
Foreign Currency Form FC-1: 48 minutes (0.8 hours) per response.
Foreign Currency Form FC-2: 3 hours 36 minutes (3.6 hours) per
response.
Foreign Currency Form FC-3: Eight (8) hours per response.
Estimated Total Annual Burden Hours:
Foreign Currency Form FC-1: 915 hours, based on 52 reporting periods
per years.
Foreign Currency Form FC-2: 950 hours, based on 12 reporting period per
year.
Foreign Currency Form FC-3: 1,216 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 Foreign Currency Forms FC-1, FC-2, and FC-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 estimates 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,
Office of International Monetary and Financial Policy.
[FR Doc. 2011-1952 Filed 1-27-11; 8:45 am]
BILLING CODE 4810-25-P