Proposed Collection: Comment Request

DEPARTMENT OF THE TREASURY

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

public and other Federal agencies to comment on continuing information

collections, as 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 Foreign Currency Forms FC-1 (OMB NO.

1505-0012) Weekly Consolidated Foreign Currency Report of Major Market

Participants, FC-2 (OMB No. 1505-0010) Monthly Consolidated Foreign

Currency Report of Major Market Participants, and FC-3 (OMB No. 1505-

0014) Quarterly Consolidated Foreign Currency Report. The reports are

mandatory.

DATES: Written comments should be received on or before August 12, 1996

to be assured of consideration.

ADDRESS: Direct all written comments to T. Ashby McCown, Director,

Office of International Financial Analysis, Department of the Treasury

1500 Pennsylvania Avenue, N.W., Room 5124, Washington, D.C. 20220,

Telephone (202) 622-2250.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information or copies of the forms and

instructions should be directed to T. Ashby McCown, Director, Office of

International Financial Analysis, Department of the Treasury,

Washington, D.C. 20220, Telephone (202) 622-2250, FAX (202) 622-0607.

SUPPLEMENTARY INFORMATION:

Title: Weekly Consolidated Foreign Currency Report of Major Market

Participants, Foreign Currency Form FC-1.

OMB Number: 1505-0012.

Title: Monthly Consolidated Foreign Currency Report of Major Market

Participants, Foreign Currency Form FC-2.

OMB Number: 1505-0010.

Title: Quarterly Consolidated Foreign Currency Report, Foreign

Currency Form FC-3.

OMB Number: 1505-0014.

Abstract: Foreign Currency Forms FC-1, FC-2, and FC-3 are required

by law, Public Law 93-110 (31 U.S.C. 5315 and 5321(a)(3)), which

directs the Secretary of the Treasury to prescribe regulations

requiring reports on foreign currency transactions conducted by a

United States person or foreign person controlled by a United States

person. The regulations governing forms FC-1, FC-2, and F-3 are

contained in Title 31 Part 128 of the Code of Federal Regulations (31

C.F.R. 128) which were published in the Federal Register on

[[Page 30282]]

November 2, 1993 (58 F.R. 58494-58497).

Current Actions: Minor changes made to instructions for FC-1, FC-2,

and FC-3.

Type of Review: Extension.

Affected Public: Business or other for-profit.

Estimated Number of Respondents:

Foreign Currency Form FC-1: 37 respondents

Foreign Currency Form FC-2: 7 respondents

Foreign Currency Form FC-3: 60 respondents

Estimated Time Per Respondent:

Foreign Currency Form FC-1: One (1) hour per respondent per response

Foreign Currency Form FC-2: Four (4) hours per respondent per response

Foreign Currency Form FC-3: Eight (8) hours per respondent per response

Estimated Total Annual Burden Hours:

Foreign Currency Form FC-1: 1,924 hours, based on 52 reporting periods

per year.

Foreign Currency Form FC-2: 336 hours, based on 12 reporting periods

per year.

Foreign Currency Form FC-3: 1,920 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 OMB approval. All

comments will become a matter of public record. Comments are invited

on: (a) whether Foreign Currency Forms FC-1, FC-2, FC-3 are necessary

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

whether the information has practical uses; (b) the accuracy of the

agency's estimate of the burden of the collection of information; (c)

ways to enhance the quality, utility, and clarity of the information to

be collected; and (d) ways to minimize the burden of the collection of

information on respondents, including the use of automated collection

techniques or other forms of information technology.

Dated: June 10, 1996.

T. Ashby McCown,

Director, Office of International Financial Analysis.

[FR Doc. 96-15101 Filed 6-13-96; 8:45 am]

BILLING CODE 4810-25-M