Departmental Offices; Proposed Collection; Comment Request

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 and respondent burden, invites the general

pubic and other Federal agencies to comment on an information

collection that is due for renewed approval by the Office of Management

and Budget. The comment period is required by the Paperwork Reduction

Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently,

the Office of International Financial Analysis within the Department of

the Treasury is soliciting comments concerning recordkeeping

requirements associated with Reporting of International Capital and

Foreign Currency Transactions and Positions--31 CFR Part 128.

DATES: Written comments should be received on or before June 21, 1996

to be assured of consideration.

ADDRESSES: Direct all written comments to Gary A. Lee, Manager,

Treasury International Capital Reporting System, Department of the

Treasury, Room 5464, 1500 Pennsylvania Avenue NW., Washington DC 20220.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or copies of the regulations should

be directed to Gary A. Lee, Manager, Treasury International Capital

Reporting System, Department of the Treasury, Room 5464, 1500

Pennsylvania Avenue NW., Washington DC 20220, (202)622-2270.

SUPPLEMENTARY INFORMATION:

Title: Reporting of International Capital and Foreign Currency

Transactions and Positions--31 CFR Part 128.

OMB Number: 1505-0149.

Abstract: 31 CFR Part 128 establishes general guidelines for

reporting on United States claims on and liabilities to foreigners; on

transactions in securities with foreigners; and on the monetary

reserves of the United States as provided for by the International

Investment and Trade in Services Survey Act and the Bretton Woods

Agreements Act. In addition, 31 CFR Part 128 establishes general

guidelines for reporting on the nature and source of foreign currency

transactions of large U.S. business enterprises and their foreign

affiliates. This regulation includes a recordkeeping requirement,

Sec. 128.5, which is necessary to enable the Office of International

Financial Analysis to verify reported information and to secure

additional information concerning reported information as may be

necessary. The recordkeepers are U.S. persons required to file reports

covered by these regulations.

Current Actions: No changes to recordkeeping requirements are

proposed at this time.

Type of Review: Extension.

Affected Public: Business or other for-profit.

Estimated Number of Respondents: 2,000.

Estimated Average Time per Respondent: Three (3) hours per

respondent per response.

Estimated Total Annual Burden Hours: 6,000 hours, based on one

response per year.

REQUEST FOR COMMENTS: Comments submitted in response to this notice

will be summarized and/or included in the request for OMB approval. All

comments will become a matter of public record. The public is invited

to submit written comments concerning: whether 31 CFR Sec. 128.5 is

necessary for the proper performance of the functions of the Office,

including whether the information collected has practical uses; the

accuracy of the above burden estimates; how to enhance the quality,

usefulness, and clarity of the information to be collected; and how to

minimize the reporting and/or recordkeeping burdens on respondents,

including the use of information technologies to automate the

collection of the data.

Thomas Ashby McCown,

Director, Office of International Financial Analysis.

[FR Doc. 96-10036 Filed 4-23-96; 8:45 am]

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