Treasury Foreign Currency (TFC) Forms FC-1, FC-2 & FC-3

Forms and Documents

Document Name	Status
Form FC-3 Quarterly Consolidated Foreign Currency Report (FC-3) Form	Modified
Form FC-1 Weekly Consolidated Foreign Currency Report of Major Market Participants (FC-1) Form	Modified
1505-0010 Supporting Statement A&B 2021-01-08.docx Supporting Statement A	2021-01-08
31C.F.R.5315etal.txt Supplementary Document	2006-11-08

IC Document Collections

IC ID	Document Title	Status
229224	Quarterly Consolidated Foreign Currency Report (FC-3) Form	Modified
229222	Weekly Consolidated Foreign Currency Report of Major Market Participants (FC-1) Form	Modified
15070	Monthly Consolidated Foreign Currency Report of Major Market Participants (FC-2) Instruction	Modified

ICR Details

OMB Control No: 1505-0010	ICR Reference No: 202101-1505-004
Status: Received in OIRA	Previous ICR Reference No: 201711-1505-003
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Treasury Foreign Currency (TFC) Forms FC-1, FC-2 & FC-3
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 01/27/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	02/28/2021
Responses	2,044	2,128
Time Burden (Hours)	3,963	4,208
Cost Burden (Dollars)	0	0

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Abstract: Completion of Foreign Currency Forms FC-1 (1505-0012), FC-2 (1505-0010), and FC-3 (1505-0014), to be filed by major market participants, is required under Title II of Public Law 93-110 (87 Stat. 352, 31 U.S.C. 5315), and implementing regulations. The data collected on Foreign Currency Forms FC-1, FC-2 and FC-3 are used in connection with supplemental information from other sources to better understand the sources and nature of mobile capital flows which can have a significant impact on the functioning of the international monetary system. Aggregate data from these forms are published quarterly in the “Foreign Currency Positions” section of the Treasury Bulletin. Data reported by individual firms may be made available to other Federal agencies and to the Federal Reserve District Banks. Data are made available to the Federal Reserve System for analysis of market forces to aid in the formulation and implementation of U.S. monetary policy and operations in foreign exchange markets. In addition, data reported by individual banks may be made available to the Federal Reserve Board insofar as authorized by Section 11(a) of the Federal Reserve Act, as amended (12 U.S.C. 248(a)(2)).

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Authorizing Statute(s): Statute at Large: 87 Stat. 352 Name of Statute: null
   US Code: 31 USC 5315 Name of Law: Title II of Public Law 93-110
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 67425	10/22/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 7336	01/27/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 3

IC Title	Form No.	Form Name
Quarterly Consolidated Foreign Currency Report (FC-3)	FC-3	Quarterly Consolidated Foreign Currency Report
Weekly Consolidated Foreign Currency Report of Major Market Participants (FC-1)	FC-1	Weekly Consolidated Foreign Currency Report of Major Market Participants
Monthly Consolidated Foreign Currency Report of Major Market Participants (FC-2)	FC-2	Monthly Consolidated Foreign Currency Report of Major Market Participants

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,044	2,128	0	0	-84	0
Annual Time Burden (Hours)	3,963	4,208	0	0	-245	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The decrease in total annual burden hours of 245 (42 hours for Form FC-1, 43 hours for Form FC-2, and 160 hours for Form FC-3) are entirely the result of decreases in the number of respondents. The decrease in total annual number of responses of 84 (52 for Form FC-1, 12 for Form FC-2, and 20 for Form FC-3) are entirely the result of decreases in the number of respondents.

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Annual Cost to Federal Government: $255,810

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 01/27/2021

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