Form TDF-SHCA SHCA

OMB NO. 1505-0146

Approval Expires: December 31, 2012
Proposed: December 31, 2015

ANNUAL REPORT TO THE FEDERAL RESERVE BANK OF NEW YORK

REPORT OF U.S. OWNERSHIP OF
FOREIGN SECURITIES, INCLUDING
SELECTED MONEY MARKET
INSTRUMENTS (SHCA)

Mandatory Report
Response Required By Law
(22 U.S.C. 3101 et seq.)

Department of the Treasury
Federal Reserve Bank of New York
Board of Governors of the Federal Reserve System

TABLE OF CONTENTS
I.

INTRODUCTION
A.
B.
C.
D.
E.

II.

III.

Page

Purpose
Authority
Confidentiality of Data Reported
Penalties for Failure to Report
Paperwork Reduction Act Notice

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1
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2
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GENERAL INSTRUCTIONS
A. Who Must Report
B. Which Schedules to Report
C. Exemptions
D. Reporting Dates
E. Submission Instructions and Contact Information

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4
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5
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WHAT SECURITIES MUST BE REPORTED
A. Reportable Foreign Securities
B. Do Not Report
C. Funds and Related Equity Holdings
D. Securities Involved in Repurchase and Securities Lending Arrangements
E. Depositary Receipts/Shares
F. Stripped Securities
G. Direct Investment
H. Securities Held by Central Securities Depositories
I. Country Attribution
J. Limited Partnerships
K. Accounting Rules, Valuation of Securities, and Calculation of U.S. Dollar Values
L. Data Retention Period
M. Review of Data and Requests for Revised Data

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9
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14
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IV. INSTRUCTIONS FOR COMPLETING REPORTING SCHEDULES
A. Schedule 1 - Reporter Contact Identification and Summary of Financial Information
B. Schedule 2 - Details of Securities
C. Schedule 3 - Custodians Used

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APPENDICES
A. Sample Reporting Schedules
Reporter Contact Identification and Summary Financial Information
Details of Securities
Custodians Used
B. Reporting Requirement Flowcharts
C. List of Security Identification Systems
D. List of Country Codes
E. List of International and Regional Organizations
F. List of Currency Codes
G. List of Custodian Codes
H. Glossary
I. Technical Information for Electronic Submission

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Schedule 1, Page 1 of 3
Schedule 2, Page 1 of 2
Schedule 3, Page 1 of 1
32
38
39
40
41
43
46
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I. INTRODUCTION
A. PURPOSE
The Department of the Treasury, with the assistance of the Board of Governors of the Federal Reserve System
and the Federal Reserve Bank of New York (FRBNY), is conducting a mandatory survey of the ownership of
foreign securities, including selected money market instruments, by U.S. residents as of December 31, 2012.
The data will be collected by the FRBNY, acting as fiscal agent for the Department of the Treasury. The data
collected will be used by the U.S. Government in the computation of the U.S. balance of payments accounts and
the U.S. international investment position, and in the formulation of international economic and financial
policies. This report also is part of the Coordinated Portfolio Investment Survey (CPIS), an internationally
coordinated effort under the auspices of the IMF, to improve the statistics on the holdings of foreign securities
by major investing countries.
In order to reduce reporting burden and costs to the government, there will be a substantial reduction in the
number of reporters in four out of every five years. A benchmark survey (Form SHC) of all significant U.S.resident custodians and end-investors will continue to be held approximately every five years. In nonbenchmark years, the annual survey (Form SHCA) will require reports from only the very largest U.S.-resident
custodians and end-investors. The data reported under these annual surveys (Form SHCA) will be used in
conjunction with the results of the previous benchmark survey to compute economy-wide estimates for the
non-benchmark years.
The determination of who must report on the annual reports (Form SHCA) will be based upon the data
submitted during the previous benchmark survey. Certain U.S.-resident custodians and end-investors (including
fund managers) will be designated to file detailed foreign security data on Schedule 2 and data on foreign
securities entrusted to U.S.-resident custodians on Schedule 3, i.e., they will be required to file in the same
manner as they did on the December 31, 2011 benchmark survey.
B. AUTHORITY
This survey is conducted under the authority of the International Investment and Trade in Services Survey Act
(22 U.S.C. 3101 et seq., [the Act]) and Executive Order 11961 of January 19, 1977. The Act specifies that the
President has the authority to conduct a regular data collection program, including such studies and reports as
may be necessary and feasible, to secure current information on international investment, including (but not
limited to) such information as may be necessary for computing and analyzing the balance of payments and the
international investment position of the United States (22 U.S.C. 3103). In Executive Order 11961 §2, the
President designated the Secretary of the Treasury to be responsible for collecting data on portfolio investment
required by the Act.
C. CONFIDENTIALITY OF DATA REPORTED
The information collected by this survey may be used only for analytical and statistical purposes and to enforce
the Act. Access to the information is available only to officials and employees (including consultants and
contractors and their employees) designated to perform functions under the Act. Persons having access to
individual company information submitted pursuant to the Act are subject to penalties for unauthorized
disclosure (22 U.S.C. §3104 and 18 U.S.C. §1905). The results of this survey will be made available to the general
public at an aggregated level so that neither the U.S. persons or organizations providing information nor
individual or organizational ownership of foreign securities can be identified.

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D. PENALTIES FOR FAILURE TO REPORT
Reporting as directed in this package is mandatory for any U.S. person or organization subject to the reporting
requirements set forth in the report instructions. Failure by an organization to provide timely and accurate data
can result in a civil penalty of not less than $2,500 and not more than $25,000, or injunctive relief ordering such
person to comply, or both (22 U.S.C. §3105(a)).
Willfully failing to submit any required information under the Act can result in a fine of not more than $10,000;
and, if an individual, may result in imprisonment for not more than a year, or both. Any officer, director,
employee or agent who knowingly participates in such violation, upon conviction, may be punished by a like
fine, imprisonment, or both (22 U.S.C. §3105(c)).
E. PAPERWORK REDUCTION ACT NOTICE
This report has been reviewed and approved by the Office of Management and Budget in accordance with the
Paperwork Reduction Act of 1995 and assigned OMB Control Number 1505-0146. The purpose is to collect
accurate and complete data that will enable the Treasury Department to fulfill its responsibility under the Act.
The estimated annual average preparation time per respondent (over five years) is about 84 hours, but this will
vary widely from respondent to respondent. (a) In the year of a benchmark survey (using Form SHC), it is
estimated that exempt SHC reporters will require an average of 16 hours; custodians of securities providing
security-by-security information will require an average of 360 hours, but this figure will vary widely for
individual custodians; end-investors providing security-by-security information will require an average of 120
hours; and end-investors and custodians employing U.S. custodians will require an average of 40 hours. (b) In a
non-benchmark year (using Form SHCA), custodians of securities providing security-by-security information will
require an average of 700 hours (because only the largest U.S.-resident custodians will report), end-investors
providing security-by-security information will require an average of 145 hours; and SHCA reporters entrusting
their foreign securities to U.S. custodians will require an average of 48 hours. Comments concerning the
accuracy of this burden estimate and suggestions for reducing the burden should be directed to:
Administrator, International Portfolio Investment Data Systems
U.S. Department of the Treasury
1500 Pennsylvania Avenue NW, Room 4410-1440NYA
Washington, DC 20220, or
The Office of Management and Budget
Paperwork Reduction Project (1505-0146)
Washington, DC 20503
No person is required to respond to any U.S. Government collection of information unless it displays a currently valid OMB
control number.

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II. GENERAL INSTRUCTIONS
A. WHO MUST REPORT
All U.S.-resident custodians and end-investors that receive a copy of this SHCA booklet of forms and
instructions from the Federal Reserve Bank of New York or are notified by the Federal Reserve Bank of New
York that they are required to file must report. (See Section II.C, Exemptions.) All other entities are exempt from
reporting.
1) Custodians are all organizations that hold securities in safekeeping for other organizations. Most U.S.resident custodians also invest in foreign securities for their own account, i.e., are also U.S.-resident endinvestors for purposes of this report. U.S.-resident custodians should report both the foreign portfolio securities
held in safekeeping for other U.S. residents and their own foreign portfolio securities.
2) End-Investors are U.S.-resident organizations that invest in foreign securities for their own portfolios or invest
on behalf of others, such as investment managers/fund sponsors. This includes securities that are held-fortrading, available-for-sale, or held-to-maturity. Collectively, such investors are referred to as “end-investors”
throughout these instructions. U.S.-resident end-investors include, but are not limited to:
Financial and non-financial organizations
Managers of private and public pension funds
Managers/sponsors of mutual funds (including money market mutual funds), country funds, unitinvestment funds, exchange-traded funds, collective-investment trusts, hedge funds or any
other similarly pooled, commingled funds. Also managers/sponsors of private equity
companies, venture capital companies, hedge funds and other private investment vehicles
Insurance companies
Foundations
Institutions of higher learning (e.g., university endowments)
Trusts and estates
Funds and similar entities that own shares or units of, or other portfolio equity interests in, a foreign
related or non-related entity.
Reports should include all reportable securities held or managed by all U.S.-resident parts of the organization,
including all U.S.-resident branches, offices, and subsidiaries. U.S. residents include organizations organized
under the laws of the Commonwealth of Puerto Rico or of U.S. territories and possessions. Please see Appendix
H – Glossary for the complete definition of United States. It is the responsibility of the top U.S.-resident parent
entity in each organization to ensure that its report covers all applicable entities within the organization.
If any of the following conditions apply, please contact the FRBNY staff:
•
•

Your organization is not the top U.S.-resident parent entity in your organization and has been notified
of its obligation to report by, the Federal Reserve Bank of New York.
Your organization cannot submit a single report for the entire organization.

Additional copies of the reporting forms and instructions may be printed from the Internet at:

http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms.aspx

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B. WHICH SCHEDULES TO REPORT
•

Schedule 1

Schedule 1 must be filed by all entities that 1) receive a copy of the SHCA forms and instructions from
the Federal Reserve Bank of New York, or 2) are notified by the Federal Reserve Bank of New York that
they are required to file the SHCA report.
Schedule 1 requests information that identifies the reporter. It also provides contact information,
indicates the reporting status, and summarizes the data, if any, reported on Schedule 2 and/or Schedule
3.
•

Schedule 2:
Schedule 2 is used to report detailed information on foreign securities owned by U.S.-resident investors
(1) that the reporter safe-keeps for itself or for its U.S.-resident clients or (2) for which the reporter
directly employs foreign-resident sub-custodians or U.S.-resident or foreign-resident central securities
depositories (CSDs) to manage the safekeeping of those securities (Foreign securities in safekeeping with
U.S.-resident CSDs are reportable on Schedule 2.) (See Section III.H.). or (3) that are instruments of the
type that there is no U.S. custodian to manage the safekeeping of those securities.

•

Schedule 3:
Schedule 3 is used to report summary amounts for all foreign securities entrusted to the safekeeping of
a U.S.-resident custodian, excluding those entrusted to a U.S.-resident CSD. (See Section III.H.).

C. EXEMPTIONS
•

Schedule 1
If you have been notified of a reporting responsibility by the Federal Reserve Bank of New York, there is NO
exemption level for Schedule 1. You must complete the reporter identification, the contact and certifying
information parts of Schedule 1. However, items requesting aggregate data on foreign securities on
Schedule 1 should be left blank if you are not required to report data on Schedule 2 or Schedule 3.

•

Schedule 2
SHCA reporters are exempt from reporting on Schedule 2 if the total fair value of foreign securities whose
safekeeping they manage for themselves and for other U.S. residents or whose safekeeping the reporter
has entrusted directly to foreign-resident custodians or U.S or foreign-resident central securities
depositories is less than US$ 100 million (aggregated over all accounts) as of December 31.

•

Schedule 3
SHCA reporters are exempt from reporting on a Schedule 3 holdings that are entrusted to an unaffiliated
U.S.-resident custodian that is not a U.S.-resident CSD, if the total fair value of the foreign securities
entrusted to that U.S.-resident custodian by the U.S. parts of the reporter’s organization and its U.S.resident clients whom the reporter represents as end-investor – aggregated over all accounts - is less than

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US$ 100 million as of December 31.
D. REPORTING DATES
Report data as of December 31, 2012. Data should be submitted to the Federal Reserve Bank of New York
(FRBNY) no later than the first Friday of March 2013 (March 1).
E. SUBMISSION INSTRUCTIONS AND CONTACT INFORMATION
Schedule 1 must be submitted on paper, unless you are submitting Schedule 2 data electronically via the IESUB
application (see below). If you are submitting Schedule 2 data via the IESUB application, you must submit
Schedule 1 via IESUB.
Schedule 2 reports consisting of 200 or more records must be submitted electronically on diskette(s) or compact
disk(s) (CDs) or via IESUB using the format specified in Appendix I.
Schedule 2 reports consisting of less than 200 records may be submitted electronically on diskette(s) or
compact disk(s) (CDs) or via IESUB using the format specified in Appendix I or on paper, using the form
contained in Appendix A.
Schedule 3 reports may be submitted on paper using the form in Appendix A or via IESUB. If you are submitting
Schedule 3 data via the IESUB application, you must submit Schedule 1 via IESUB.
Reports can be mailed or sent by courier to:
Federal Reserve Bank of New York
Statistics Function, 4th Floor
33 Liberty Street
New York, NY 10045-0001
IESUB
The Federal Reserve System’s Internet Electronic Submission (IESUB) System is fast, easy to use and secure.
IESUB provides a confirmation of the receipt of the data at the Federal Reserve Bank of New York and performs
a number of validity checks of your file format.
For more information on how to submit data using the IESUB system, contact the SHC staff at 212-720-6300 or
646-720-6300 or at [email protected]. Alternatively, additional information and an application to register for
IESUB can be obtained at:
http://www.frbservices.org/centralbank/reportingcentral/iesub.html
Completed applications should be sent to:
Federal Reserve Bank of New York
Statistics Function, 4th Floor
33 Liberty Street
New York, New York 10045-0001

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or faxed to 1-212-720-8028 or 8216.
If your business or technical contact information changes after submission of your Schedule 1 or if you have
any questions pertaining to the report, please contact the FRBNY staff:
Phone:

(212) 720-6300 or (646) 720-6300

Email:

[email protected]

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III. WHAT SECURITIES MUST BE REPORTED
This report collects information on U.S. resident holdings of foreign portfolio securities, including foreign
equities, short-term debt securities (including selected money market instruments), and long-term debt
securities. Asset-backed securities are to be reported separately from other debt securities. Foreign securities
are all securities issued by entities that are established under the laws of a foreign country (i.e., any entity that is
legally incorporated, otherwise legally organized or licensed (such as branches) , in a foreign country) and all
securities issued by international or regional organizations, such as the International Bank for Reconstruction
and Development (IBRD or World Bank), and the Inter-American Development Bank (IADB), even if these
organizations are physically located in the United States.
Reportable securities may be traded or issued in the United States and in foreign countries, and may be
denominated in any currency, including euros and U.S. dollars. Neither the country in which the securities are
traded or issued, nor the currency in which the securities are denominated, is relevant in determining
whether the securities are reportable.
As an exception, foreign securities held by a U.S. depository to back depositary receipts/shares should not be
reported. Instead, the U.S.-resident holders of the depositary receipts/shares should report the receipts/shares.
This exception is necessary to identify the portion of depositary receipts/shares actually held by U.S. residents,
because many depositary receipts/shares are held by foreign residents.
A. REPORTABLE FOREIGN SECURITIES
Reportable securities include:
•
•
•
•
•
•

Securities issued by international and regional organizations, such as the International Bank for
Reconstruction and Development (IBRD or World Bank) or the Inter-American Development Bank (IDB),
whether physically located in the United States or abroad.
Securities issued in the United States by foreign-resident organizations (e.g., Canadian or Mexican firms),
even if they are denominated in U.S. dollars and trade on U.S. securities exchanges.
Securities issued by foreign-resident subsidiaries of U.S.-resident organizations (e.g., GMAC Canada) and
foreign-resident offices of U.S. banks or U.S. broker/dealers, even if they are guaranteed by the U.S. parent
company, or issued in the United States.
Depositary receipts/shares, including American Depositary Receipts (ADRs), American Depositary Shares
(ADS), Global Depositary Receipts (GDRs), and International Depositary Receipts (IDRs), if the underlying
securities are issued by foreign residents - (See Section III.E.).
Securities issued by foreign-resident entities under Section 144A of the SEC Act.
Money market instruments, including negotiable certificates of deposit (CDs) issued by foreign-resident
entities.

Equity Interests represent an ownership interest in foreign-resident organizations.
Include as equities:
• Common stock (ordinary shares);
• Preferred stock (participating and nonparticipating preference shares);
• Restricted stock;
• Depositary receipts/shares (e.g., ADRs, ADSs, GDRs, IDRs) provided the underlying securities used to
collateralize the receipts/shares are foreign securities (See Section III.E.);
• Shares/units/other equity interests in foreign-resident funds (including mutual funds and money market
funds), index-linked funds, exchange-traded funds, private equity companies, venture capital companies,

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•
•

investment trusts, common trust funds, commingled investment accounts, hedge funds and other
investment vehicles – (See Section III.C.);
U.S.-resident limited partner interests in foreign-resident limited partnerships and equity interests in other
companies that do not issue shares (General partner ownership interests are excluded.) (See Section III. J.);
and
Other equity securities, including privately placed equity interests.

Short-Term Debt Securities include bills, commercial paper, and other money market instruments specified
below with an original maturity of one year or less that give the holder the unconditional right to financial
assets. Asset-backed short-term debt securities should be reported as asset-backed securities. (See below.)
Include as short-term debt securities:
• Short-term foreign government securities;
• Short-term bankers’ acceptances and trade acceptances;
• Short-term commercial and financial paper, including asset-backed commercial paper;
• Short-term negotiable certificates of deposit, bank notes, and deposit notes;
• Short-term notes issued under note issuance facilities and revolving underwriting facilities, even though the
underlying facility may be for more than one year;
• Short-term medium-term notes;
• Short-term promissory notes;
• Stripped securities with an original maturity of one year or less; and
• Other short-term debt securities.
Long-Term Debt Securities (excluding asset-backed securities) include bonds and notes, with an original
maturity of over one year, that usually give the holder the unconditional right to financial assets.
Include as long-term debt securities:
• Bonds such as foreign treasury, zero coupon, stripped, deep-discounted, currency-linked (e.g., dualcurrency), floating rate, equity-related (e.g., convertible bonds) bonds and Eurobonds;
• Long-term index-linked debt securities;
• Long-term floating rate notes (FRN), such as perpetual notes (PRN), variable rate notes (VRN), structured
FRN, reverse FRN, collared FRN, step up recovery FR (SURF), and range/corridor/accrual notes;
• Long-term medium-term notes;
• Bonds with multiple call options, the last of which is more than one year after issue;
• Long-term debentures;
• Long-term negotiable certificates of deposit, bank notes, and deposit notes;
• Long-term bearer depositary receipts denoting ownership of debt securities issued by nonresidents;
• Brady bonds;
• Covered bonds (e.g., Pfandbriefe);
• Long-term securities backed by a sinking fund; and
• Other long-term debt securities.
Asset-Backed Securities are securitized interests in a pool of assets, which give the purchaser a claim against the
cash flows generated by the underlying assets. In many cases, the security’s outstanding principal is reduced
over time as principal repayments are received and passed on to the holders of the security. Securities backed
by revolving credits, such as pools of credit card receivables, do not meet this criterion, but are still classified as
ABS if the return to the holder is based upon these credits (i.e., the credits do not merely serve as collateral).
The ABS is reported if the issuer securitizing the assets is a foreign resident. The underlying asset should not be
used to determine if the securities are reportable. Asset-backed commercial paper should be reported as

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commercial paper with other short-term debt.
Include as asset-backed securities all collateralized mortgage obligations (CMOs), collateralized bond obligations
(CBOs), collateralized loan obligations (CLOs), collateralized debt obligations (CDOs), and other securities which
give the purchaser a claim against the cash flows generated by pools of:
• Mortgages;
• Credit card receivables;
• Automobile loans;
• Consumer and personal loans;
• Commercial and industrial loans and other whole loans; and
• Other assets.
B. DO NOT REPORT
Do not report any:
• Derivative contracts (including futures, forwards, swaps, options, and warrants) meeting the definition of a
derivative under ACS 815 (formerly FAS 133). If the embedded derivative has not been bifurcated from the
host contract under FAS 133, then the security should be reported without separating the embedded
derivative from the host contract. However, if the embedded derivative is bifurcated from the host
contract, then the derivative should be excluded from the report and the host security should be included
on the report.
• Loans and loan participation certificates;
• Letters of credit;
• Non-negotiable certificates of deposit ;
• Bank deposits, including time deposits (except for negotiable CDs) and demand deposits;
• Foreign securities temporarily acquired under reverse repurchase, borrowing, or lending arrangements (See
Section III.D.);
• The underlying security of a depositary receipt, even if a foreign security (See Section III.E.);
• Direct investments (See Section III.G.), including investments in real estate and general partner ownership
interests (However, limited partner ownership interests are reportable investments.);and
• All U.S. securities, including:
1. Securities issued by U.S.-resident organizations, even if they are denominated in foreign currencies or
traded on foreign securities exchanges;
2. Securities issued by U.S.-resident subsidiaries of foreign-resident organizations and U.S.-resident offices
of foreign banks or foreign broker/dealers, even if they are guaranteed by the foreign parent company,
or issued outside of the United States;
3. Securities issued by U.S.-resident entities under Section 144A of the SEC Act;
4. Ownership of shares of U.S.-resident funds, even if the fund invests in foreign securities (See Section
III.C.); and
5. Stripped securities issued by a U.S.-resident financial institution, even if the underlying security is a
foreign security (See Section III.F.).
C. FUNDS AND RELATED EQUITY HOLDINGS
1. Report U.S. residents’ ownership of shares/units of, or other equity interests in, funds legally established

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outside of the United States (foreign-resident funds) as equity securities. All U.S. residents’ holdings of foreignresident funds should be assigned security type 3 (fund shares), and not categorized as a debt security,
regardless of the types of securities held by the fund.
For purposes of this report, funds include all investment vehicles that pool the money of one or more investors
and that invest the pooled money in one or more of a variety of assets. Funds include, but are not limited to:
•
•
•
•
•
•
•
•
•
•
•

Mutual funds (including both closed-end and open-end mutual funds);
Money market funds;
Investment trusts;
Index-linked funds;
Exchange traded funds (ETFs);
Investment vehicles that use the money of a single investor to buy securities that the investment vehicle
owns (single investor funds);
Commingled accounts;
Investment trusts;
Common trust funds;
Hedge funds;
Private equity funds.

The determination of whether ownership interests in a fund are foreign securities is based on the country in
which the fund is legally established, not on the type of securities the fund purchases. For example, an interest
in a fund organized in Bermuda that purchases U.S. Treasury securities is a reportable foreign equity security.
Likewise, an interest in a fund established in the United States is a U.S. security and should be excluded from the
report, even if the U.S.-resident fund invests in foreign securities.
Many funds established outside the United States have names that are similar to U.S.-resident fund names. This
often occurs when the fund is managed by a group that manages many U.S.-resident funds and therefore may
be thought of as managing only U.S.-resident funds. If there is doubt as to whether the investment should be
classified as a fund or whether a fund is U.S. or foreign, please contact FRBNY report staff at (212) 720-6300 or
(646) 720-6300.
2. Report U.S.-resident funds’ ownership of foreign securities.
Although ownership of equity interests in U.S.-resident funds is excluded from this report, the foreign securities
owned by U.S.-resident funds are reportable. These are distinct holdings and, therefore, are not duplicate
reporting. Foreign securities owned by U.S.-resident funds should be classified as equity, debt, or asset-backed
securities, as indicated in Section III. A.
3. How to report hedge funds and other alternative investment vehicles
a) Investment advisors, managers or similar types of legal entities and fund sponsors that create masterfeeder fund structures both outside and inside the U.S. should report any portfolio investments
between the U.S. and foreign-resident affiliate funds that the investment manager sets up.

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Example 1
A U.S.-resident investment manager/fund sponsor (IM/FS) creates a Cayman master fund, a Cayman
feeder fund and a U.S. feeder fund. The investments by the U.S. IM/FS in the Cayman funds are
direct investments since the IM/FS controls the affiliated firms and should be reported to the
Department of Commerce, Bureau of Economic Analysis as direct investments. However, the
investment that the U.S. feeder fund has in the Cayman Master Fund is portfolio investment and
should be reported on the SHCA by the IM/FS as the representative of the U.S. feeder fund as the
owner (end-investor). However, if a U.S. custodian holds the equity interests of the U.S feeder fund
in the foreign master fund, then the U.S. custodian would have the responsibility of reporting those
interests on the SHCA.
Example 2
A foreign-resident IM/FS sets up a Cayman master fund, a Cayman feeder fund, and a U.S. feeder
fund. The investments between the foreign IM/FS and the U.S. feeder fund are direct investment
since the foreign IM/FS controls the feeder fund. However, the equity investment that the U.S.
feeder fund has in the foreign master fund is portfolio investment and should be reported by the
U.S. feeder fund as ownership of foreign equity on the SHCA. If a U.S. custodian holds the equity
interest of the U.S. feeder in the foreign master fund, then the U.S. custodian would have the
responsibility of reporting on the SHCA.
b) Exclude any investment between the investment manager or other entity that formed the funds (as a
general partner) and all the entities it creates. These are direct investments and should be reported to
the Bureau of Economic Analysis.
Note: The descriptions of the various examples are based on common master/feeder fund
structures. It is possible for there to be different types of structures when creating these funds
and they may be called different names by some entities. Ultimately, if the investment is not
direct investment, then it will fall into the category of portfolio investment and needs to be
reported as part of the TIC system.
4. Fund ownership by Pension and Retirement Plans (including those of State and Local governments,
including municipalities)

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A state pension plan holds foreign investments through (a) onshore funds (including funds of hedge
funds) and (b) offshore funds (including funds of hedge funds). For the purposes of TIC, the requirement
to report is based on the country in which the fund is legally established.
(a) The investments in onshore U.S funds (including funds of hedge funds) are investments in U.S.resident entities and are therefore not reportable on the SHCA.
(b) The investments in offshore funds (including funds of hedge funds) are investments in foreignresident entities, and are therefore reportable on the SHCA. Only the shares of the funds themselves are
reportable (not their underlying investments), and only if the pension investments are portfolio
investment.
If those investments are direct investments, such as general partnership interests, then the investments
are reportable to the Bureau of Economic Analysis of the Department of Commerce. If a U.S. custodian
holds the foreign portfolio interests in the offshore funds on behalf of the pension plans, the U.S.
custodian would have the reporting responsibility to report on the SHCA and the TIC Form SLT report.
D. SECURITIES INVOLVED IN REPURCHASE AND SECURITIES LENDING ARRANGEMENTS
A repurchase agreement (repo) is an arrangement involving the sale of securities at a specified price for cash
with a commitment to repurchase the same or similar securities at a specified price on a future date. A reverse
repo is an agreement whereby a security is purchased at a specified price with a commitment to resell the same
or similar securities at a specified price on a specified future date. Securities lending/borrowing arrangements
are agreements whereby the ownership of a security is transferred in return for collateral, usually another
security or cash, under condition that the security or similar security will revert to its original owner at a future
date. All of these arrangements, as well as buy/sell agreements, should be treated as follows:
•

Securities sold under repurchase agreements or lent under securities lending arrangements, or collateral
provided, should be reported by the original owner of the securities (or their U.S.-resident custodian) as if
the securities were continuously held; that is, as if the repurchase or security lending agreement did not
exist. Thus, if a U.S. resident transferred a foreign security under a repurchase or securities lending
arrangement, the U.S. resident (or their U.S.-resident custodian) transferring the security should include it in
its Schedule 2 or Schedule 3 records. The country reported should be the country of the issuer of the
security and not the country of the counterparty to the repo or other agreement.

•

Securities, including collateral, temporarily acquired by U.S. residents under reverse repurchase or
borrowing or lending arrangements should not be reported.

•

However, if cash was temporarily received as collateral and was used to purchase securities, those securities
should be reported.

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E. DEPOSITARY RECEIPTS/SHARES
Depositary receipts/shares, including American depositary receipts (ADRs) or bearer depositary receipts, should
be attributed to the country of residence of the issuer of the security underlying the depositary receipt/share.
Issuers of depositary receipts/shares should not report their holdings of the actual foreign securities. Only U.S.
residents’ holdings of depositary receipts/shares should be reported.
In addition, the security type reported should be determined based on the security underlying the depositary
receipt/share. For example, if the underlying security is foreign common stock then the security type reported
in Item 7 of the Schedule 2 should be 1 (common stock).
F. STRIPPED SECURITIES
Stripped securities are securities that have been transformed from a principal amount with periodic interest
coupons into a series of zero coupon securities, with the range of maturities matching the coupon payment
dates and the redemption date of the principal amount.
The country of residence of a stripped security is the country of residence of the entity that issued the stripped
security, not the country of residence of the entity that issued the underlying security. Stripped securities issued
by foreign residents, (the interest-only (IO) component, the principal-only (PO) component and tranches of
stripped asset-backed securities), and held by U.S. residents are reportable. If a U.S.-resident financial
institution issued the stripped securities, the issuer of the stripped securities should report its ownership of the
underlying foreign securities. Exclude U.S. residents’ holdings of stripped securities issued by a U.S.-resident
financial institution.
G. DIRECT INVESTMENT
All holdings known to be direct investment should be excluded from the survey.
A direct investment relationship exists when a U.S. resident owns, directly or indirectly, 10% or more of the
voting equity securities of an incorporated foreign business (or an equivalent interest in an unincorporated
foreign business or branch. (See Section III.K.) If a direct investment relationship exists, then, in general, all
securities held by the parent entity that were issued by the affiliate of the parent are considered to be direct
investment.
However, if one of the entities is a depository institution, a securities firm, a bank holding company or
financial holding company, then inter-company holdings are not considered to be direct investment and are
reportable on the SHCA. See the Glossary for a complete definition of direct investment.
H. SECURITIES HELD BY CENTRAL SECURITIES DEPOSITORIES
Foreign securities entrusted to U.S.-resident custodians that are in turn held at a U.S.-resident central securities
depository (such as the Depository Trust Company or the Federal Reserve Bank of New York), or a foreignresident central securities depository (such as Euroclear or Clearstream), must be reported by the U.S.-resident
custodian, not by the U.S. or foreign-resident central securities depository. Likewise, foreign securities held by a
U.S.-resident end-investor directly with a U.S.-resident or foreign-resident central securities depository must be
reported by the U.S.-resident end-investor, not by the central securities depository.
Foreign securities provided to the Federal Reserve Bank of New York (FRBNY) for discount window loan
collateral must be reported by the “lender” of the securities, not by the FRBNY.

13

I. COUNTRY ATTRIBUTION
Except for securities issued by international and regional organizations and depositary receipts, securities should
be reported based upon the country of residence of the issuer of the securities. The country of residence of
any entity is where it is legally incorporated or otherwise legally organized, with the exception of bank branches,
whose country of residence is the country where they are licensed. In cases where a foreign subsidiary of a U.S.resident organization issues a reportable security, report these securities in the country where the foreign
subsidiary is resident if the security is the direct legal obligation of the foreign subsidiary.
Depositary receipts should be attributed to the country of residence of the issuer of the security underlying the
depositary receipt.
Securities issued by international and regional organizations are not allocated to the country in which the
international or regional organization is located. The country attribution for most international and regional
organizations is group code 79995. Refer to Appendix E for a list of international and regional organizations.
A few international and regional organizations have their own geographic classification (country) codes in the
Appendix and those codes should be used in reporting on the SHCA.
Attribution of country of residence of the issuer should not be affected by the currency of issue or by the
country of a guarantor.
J.

LIMITED PARTNERSHIPS

U.S.-resident limited partner interests in foreign-resident limited partnerships should be reported as Other
Equity (Schedule 2, Item 7 = 4). Limited partners’ ownership does not carry voting rights; therefore, such
ownership, even if greater than 10%, is reportable. The Number of Shares Held field on the Schedule 2 (Item 16)
should be defaulted to the value reported in the US$ Fair Value field (Item 14a) because limited partnerships do
not issue shares.
U.S.-resident general partner interests in foreign-resident limited partnerships are always considered to be
direct investment and are excluded from this report.
K. ACCOUNTING RULES, VALUATION OF SECURITIES, AND CALCULATION OF U.S. DOLLAR VALUES
Accounting Rules
All securities should be reported using settlement date accounting. Gross long positions should be reported. Do
not net any short positions from long positions. Do not enter decimals or negative values in any cells.
Valuation of Securities
Report the fair value of securities as December 31, 2012. The fair value follows the definition of ASC 820
(formerly FAS 157). Fair value is the amount at which an asset could be bought or sold in a current transaction
between willing parties, other than in a forced or liquidation sale. If a quoted market price is available for an
instrument, the fair value is the product of the number of trading units times that market price. For securities
that do not regularly trade, the estimate of fair value should be based on the best information available in the
circumstances. The estimate of fair value should consider prices for similar assets and the results of valuation
techniques to the extent available in the circumstances. Examples of valuation techniques include discounted

14

cash flow, matrix pricing, option-adjusted spread models and fundamental analysis.
For asset-backed securities, the fair value of the unpaid principal amount outstanding on December 31 should
be reported; if principal has been repaid, this fair value will not be the same as the original face value revalued
at end-period market prices.
U.S.-resident custodians should, at a minimum, report the fair value to the extent that it is available as part of
their normal services provided to customers, even if the price available is prior to December 31. If there is doubt
as to whether to report the available fair value or to report a fair value of zero, please contact FRBNY report staff
at (212) 720-6300 or (646) 720-6300.
Foreign Currency Denominated Securities – Calculation of U.S. Dollar Values
If the security is not denominated in U.S. dollars (US$) and a US$ fair value is not available in your system,
convert the foreign currency denominated fair value into US$ using the spot exchange rate as of December 31.
If you need assistance locating an exchange rate, please contact FRBNY staff at (212) 720-6300 or (646) 7206300.
If the exchange rate is normally quoted in units of foreign currency per US$, such as ¥105.75/US$, divide foreign
currency values by the foreign exchange rate to obtain the US$ values. For example, if the value of a security
issued in Japan is ¥ 200,000, divide ¥ 200,000 by 105.75 to obtain US$ 1,891.
If the exchange rate is normally quoted in US$ per units of the foreign currency, such as US$1.75/UK£, then
multiply foreign currency values by the US$ exchange rate value of the foreign currency to obtain US$ values.
For example, if the value of a security issued in the United Kingdom is UK £1,000, multiply UK £1,000 by 1.75 to
obtain US$ 1,750.
L. DATA RETENTION PERIOD
The reporter must retain all data used to create this report for a period of 36 months from the date of the
report's submission.
M. REVIEW OF DATA AND REQUESTS FOR REVISED DATA
Data submitted on the reporting schedules are reviewed by FRBNY staff. As a result of this review, the reporter
may be asked by FRBNY staff to provide supplemental information, including reasons for significant data
changes between reporting periods, or corrected data. In addition, FRBNY staff may request: (1) information to
ensure that all reportable foreign securities have been reported; (2) information to ensure that all reported
foreign securities are held by U.S. residents; or (3) other information that helps to explain or corroborate the
submitted data.
Entities filing data on electronic media that are not formatted per the specifications in Appendix I will be
required to re-submit the data in the proper format.

15

IV. INSTRUCTIONS FOR COMPLETING REPORTING SCHEDULES
A. SCHEDULE 1 - REPORTER CONTACT IDENTIFICATION AND SUMMARY OF FINANCIAL
INFORMATION
Schedule 1 must be completed by all organizations that meet the survey reporting requirements as specified in
Section II.A. This schedule is used to provide basic identifying information and provide summaries of data
reported on Schedule 2 and Schedule 3 records. Please type or print all information.
1. Reporter Identification Number - Enter your organization’s ten-digit Reporter Identification Number. If you
do not know the Reporter Identification Number for your organization, please contact FRBNY staff at (212) 7206300 or (646) 720-6300.
(Please enter your ten-digit Reporter Identification number at the top of each page of Schedule 1.)
2.

Organization Name and Address - Include the full legal name and mailing address of the reporting entity.

3. Reporting Status
Select 1 if your organization is Exempt from reporting on both Schedules 2 and 3 as defined in Section II.C
OR if your organization’s reportable foreign securities are included in the report of its U.S.-resident parent.
Select 2 if your organization is filing only Schedule 2 records.
Select 3 if your organization is filing only Schedule 3 records.
Select 4 if your organization is filing both Schedule 2 and Schedule 3.
4. Industrial Classification Code - Enter one of the following that best describes your organization.
1 = Bank
2 = Mutual Fund or Investment Trust
3 = Pension Fund

4 = Insurance Company
5 = Other Financial Organization
6 = Non-Financial Organization

7 = Foundation, Trust, or Estate
8 = Institution of Higher Learning (e.g., university)
9 = Other (not listed above)

A Bank is any depository institution (i.e., an institution that takes deposits), a bank holding company, or a
financial holding company organized under Regulation Y of the Federal Reserve Act.
An Other Financial Organization is any other organization that acts as a financial intermediary, such as a finance
company or a broker/dealer or an investment manager/asset manager, which is operated separately from an
organization in one of the other categories listed above.
A Non-Financial Organization is an organization that conducts commercial, industrial or trade activities.
5. Name of Contact - Enter the name of the person who will be the primary contact for this report and can
answer questions about the data reported.
6. Title - Enter the job title of the contact identified in item 5.
7. Telephone Number - Enter the telephone number of the contact identified in item 5.
8. Fax Number - Enter the fax number of the contact identified in item 5.
9. Email Address - Enter the email address of the contact identified in item 5.

16

10. Name of Service Provider or Vendor Used - If a service provider or vendor was used to prepare the data
reported, enter the name of the service provider.
11. Name of Technical Contact - Enter the name of a person who will serve as a contact should any technical
issues, such as incorrect file formats, arise. If a service provider was used to prepare the data reported, the
technical contact may be a vendor employee.
12. Title - Enter the job title of the technical contact identified in item 11.
13. Telephone Number - Enter the telephone number of the technical contact identified in item 11.
14. Email Address - Enter the email address of the technical contact identified in item 11.
15. Valuation Technique - For each reporting unit, describe the valuation technique(s) used to calculate the
reported fair values. If securities are automatically valued at zero after a specified time period of inactivity,
please specify the time period and whether this applies to the fair value of the security or to the client’s
holdings (quantity) of the security. Also, please specify how securities not actively traded on the report
date and those with internally generated security identification numbers are valued. If your organization
has more than four reporting units, please attach additional copies of Schedule 1, page 2, with item 15
completed.
SUMMARY OF SCHEDULE 2 INFORMATION
This section contains summary data for the information reported on Schedule 2 records. If your organization
submits Schedule 2 data on multiple media, the summary Schedule 2 data should represent aggregate data
across all media submitted for the same reporter identification number.
16. Total Number of Schedule 2s Submitted - Enter the total number of Schedule 2 records submitted.
17. Total US$ Fair Value of All Equity Securities - Enter the sum of the US$ fair value of all equity security
records (records with Schedule 2, Item 7 = 1, 2, 3, or 4), rounded to the nearest U.S. dollar.
18. Total US$ Fair Value of All Short-Term Debt Securities (excluding asset-backed securities) - Enter the sum of
the US$ fair value of all short-term debt security ( including asset-backed commercial paper) records (records
with Schedule 2, Item 7 = 5, 6, 7, 8, or 9 and Item 10 = 1), rounded to the nearest U.S. dollar.
19. Total US$ Fair Value of All Long-Term Debt Securities (excluding asset-backed securities) - Enter the sum of
the US$ fair value of all long-term debt security (excluding asset-backed securities) records (records with
Schedule 2, Item 7 = 6, ,7, 8, or 9 and Item 10 = 2), rounded to the nearest U.S. dollar.
20. Total US$ Fair Value of All Asset-Backed Securities - Enter the sum of the US$ fair value of all asset-backed
security records (records with Schedule 2, Item 7 = 10), rounded to the nearest U.S. dollar.
SUMMARY OF SCHEDULE 3 INFORMATION
This section contains summary data for the information reported on Schedule 3 records.
21. Total Number of Schedule 3s Submitted - Enter the total number of Schedule 3 records submitted.
22. Total US$ Fair Value of All Equity Securities - Enter the sum of all Schedule 3 records, item 4.

17

23. Total US$ Fair Value of All Short-Term Debt Securities (excluding asset-backed securities) - Enter the sum of
all Schedule 3 records, item 5.
24. Total US$ Fair Value of All Long-Term Debt Securities (excluding asset-backed securities) - Enter the sum of
all Schedule 3 records, item 6.
25. Total US$ Fair Value of All Asset-Backed Securities - Enter the sum of all Schedule 3 records, item 7.
CERTIFYING INFORMATION
All reporters must complete this section.
By signing and dating the certification, the Certifier acknowledges that:
•

He/she has read and understood the reporting requirements of this report;

•

He/she is aware that both civil and criminal penalties may be imposed for filing a false report; and

•

He/she is sufficiently knowledgeable about the activities and functions of this organization that he/she can
knowingly and with reasonable confidence certify that the information provided in this report is both
accurate and complete.

26 - 30 - Enter the name, job title, telephone number, and email address of the duly authorized officer of your
organization who certifies that the information provided is complete and accurate, as well as the date and
signature.

18

B. SCHEDULE 2 - DETAILS OF SECURITIES
(Please enter your ten-digit Reporter Identification Number at the top of each page of Schedule 2.)
1. Reporter Identification Number - Enter your organization’s ten-digit Reporter Identification Number. If you
do not know the Reporter Identification Number for your organization, please contact FRBNY staff at (212) 7206300 or (646) 720-6300.
2. Sequence Number - Enter the sequence number of this detail record, right justified. The first detail record
should be assigned sequence number 1, and each succeeding Schedule 2 should be assigned a sequence number
one higher than the previous record.
3a. Reporting Unit Code - If data being submitted are collected from multiple databases or reporting systems,
please report the internal code used in your organization to identify the database or system from which the
information on this Schedule 2 came. This information may greatly reduce the costs of identifying and fixing
reporting errors that occur.
3b. Name of Reporting Unit - Enter a description or name of the reporting unit or area that corresponds to the
code reported in item 3a.
4. Security ID - Enter the security ID code used to identify the security reported on this Schedule 2. ISIN codes
are strongly preferred. If the ISIN code is not available, please use a code listed as “Primary” in Appendix C. If no
“primary” code is available, please use a “secondary” code listed in Appendix C other than “internally
generated.” Do not use internally generated codes unless this security has not been assigned a code by any
recognized numbering agency (e.g., limited partnerships). All records for securities for which a portion is
restricted and a portion is not restricted should be reported with the numbering agency code assigned to the
unrestricted portion. If excessive internal codes are used, we may have to contact you to resubmit your report
with external ids or to help identify characteristics of individual securities. Please include the security id’s check
digit and exclude any internal coding characters added to the ISIN, CUSIP, or other numbering agency code.
5. Security Description - Briefly describe the security, providing any relevant descriptive information available.
Ideally, this would include, but is not restricted to: (a) for preferred stock, the annual dividend; (b) for debt
securities, the interest rate, if any, whether it is stripped interest only (IO) or principal only (PO), convertibility,
and currency of denomination; (c) for floating rate notes, how the interest is calculated (e.g., Libor plus 1.5); and
(d) for depositary receipts, a description of the underlying security.
6. Security ID System - Select the appropriate number from the list provided in Appendix C. For example, if the
Security ID Number entered in Item 4 was an ISIN number, enter “01”; if it was a CINS, enter “33.” If the security
ID system used is not listed, enter a code of 99 (other) and provide the name of the organization generating the
code in item 6a. If the code is internally generated, enter a code of 98 and explain how your internal coding
system assigns numbers in item 6a.
6a. Comment Line - If you entered a code of 99 (other) in item 6 you must provide the name of the organization
generating the security ID code. If you entered a code of 98 (internally generated) in item 6 please explain how
your internal coding system assigns numbers.

19

7. Security Type - Enter the appropriate Security Type code from the listed options below:
Equity

1 = Common stock
2 = Preferred stock
3 = Fund shares
4 = All other equity

Debt (excluding asset-backed securities)

5 = Commercial paper
9 = Unstripped note or bond
6 = Negotiable CD
& all other non-asset7 = Convertible debt security
backed debt
8 = Zero coupon &
stripped security

Asset-backed Securities

10 = Asset-backed security

Common stock includes securities representing equity ownership in a foreign corporation. All foreign common
stock, including restricted common stock and depositary receipts where the underlying security is common stock
should be reported as security type 1.
Preferred stock includes securities representing equity ownership in a foreign corporation where the holder’s
claim is given priority over common shares. Preference shares, non-participating preference shares, convertible
preferred stock, restricted preferred stock, and depositary receipts where the underlying security is preferred
stock should be reported as security type 2.
Funds include all investment vehicles that pool investors’ money and invest the pooled money in one or more of
a variety of assets. Also, funds include investments vehicles owned by a single investor when the vehicle, not the
investor in the fund, is the owner of the securities. All ownership interests in funds should be reported as
security type 3, regardless of the types of securities held by the fund. (See Section III.C.)
All other equity includes U.S.-resident limited partner ownership of foreign-resident limited partnerships and
any other form of equity not specified in Security Types 1, 2, and 3 and should be reported as security type 4.
Commercial paper, security type 5, includes all commercial paper, including asset-backed commercial paper.
Negotiable certificates of deposit, security type 6, include negotiable bank notes and negotiable deposit notes.
Convertible debt securities, security type 7, include all convertible debt such as convertible bonds and zerocoupon convertible debt. Note that non-convertible debt securities with embedded warrants or options should
be reported as either security type 8, if a zero coupon bond or note, or as security type 9, if straight debt.
Zero coupon & stripped securities, security type 8, includes bonds and notes that do not provide explicit interest
payments, such as discount notes and stripped, non-asset-backed securities (both the interest-only (IO) and
principal-only (PO) components) except zero-coupon convertible debt, which should be reported as security
type 7, and stripped asset-backed securities, (including their tranches, and all IO and PO components) which
should be reported as security type 10.
Unstripped notes, bonds, and all other non-asset-backed debt, security type 9, includes non-asset-backed debt
that is not covered in security types 5 through 8. These are bonds or notes that : (1) cannot be converted to
equity securities; (2) provide explicit interest payments; (3) have not been stripped; and (4) do not give the
owner a claim on cash flows generated by the underlying assets (i.e., are not asset-backed). These bonds and
notes are commonly referred to as “straight debt.”
Asset-backed securities, security type 10, includes securities that represent securitized interests in a pool of
assets and that give the investor a claim against the cash flows generated by the underlying assets, except for
asset-backed commercial paper, which should be reported as security type 5. All tranches of stripped assetbacked securities, as well as unstripped asset-backed securities, should be reported as security type 10. Debt
which is collateralized by assets (real or financial), but only give the investor a claim against the underlying
interest if the issuer defaults, should reported as security types 5 through 9, as appropriate.

20

8. Depositary Receipt/Share - Enter 1 if the security is a depositary receipt/share. Enter 2 otherwise.
9. Name of Issuer - Enter the full legal name of the organization that issued the security. For branches of banks,
please provide the location of the branch.
10. Term Indicator (based on original maturity) – Enter 1 (short-term) if the period from the issue date to the
maturity date is one year or less, regardless if a leap year; enter 2 (long-term), if the period from the issue date
to the maturity date is greater than one year. Term indicator only applies to debt, including asset-backed debt.
If there are multiple issue dates or redemption dates, term should be determined by the length of the period
between the initial/first issue date and the latest redemption date. Perpetual debt should be classified as longterm debt.
11. Country of Issuer - Enter the country code from Appendix D that corresponds to the country of residence of
the entity that issued the security. (Refer to Section III.I, Country Attribution.)
12. Currency of Denomination - Enter the ISO code from Appendix F that corresponds to the currency in which
the security being reported is denominated.
13. Ownership Code - Enter the appropriate code from the list below:
1 = if your organization is reporting as the owner of this security
2 = if your organization is reporting as the custodian for a U.S.-resident mutual fund for this security
3 = if your organization is reporting as the custodian for a U.S.-resident pension fund for this security
4 = if your organization is reporting as the custodian for a U.S.-resident insurance company for this security
5 = if your organization is reporting as the custodian for any other U.S. residents for this security
6 = if your organization is the custodian for a U.S.-resident beneficial owner whose
type is unknown
Ownership code 1 should be used if your organization is the owner of this security and either holds the security
or uses a foreign-resident custodian or a U.S.-resident or foreign-resident central securities depository.
Ownership code 2 should be used if your organization is the custodian and the beneficial owner is identified as a
U.S.-resident that is a mutual fund.
Ownership code 3 should be used if your organization is the custodian and the beneficial owner is identified as a
U.S.-resident that is a pension fund.
Ownership code 4 should be used if your organization is the custodian and the beneficial owner is identified as a
U.S.-resident that is an insurance company.
Ownership code 5 should be used if your organization is the custodian and the beneficial owner is identified as a
U.S.-resident that is not a mutual fund, pension fund, or insurance company (which are reported as ownership
codes 2 through 4). When your organization is the custodian and cannot identify the entity type of the
beneficial owner, the ownership code should be reported as ownership code 6.
Ownership code 6 should be used if your organization is the custodian and the entity type of the owner is
unknown.

21

14a. US$ Fair Value of Security Held - Enter the US$ fair value of the security being reported, rounded to the
nearest U.S. dollar. (See Section III.K, Accounting Rules, Valuation of Securities, and Calculation of U.S. Dollar
Values, for more information on how to calculate the US$ fair value.)
14b. Fair Value of Security Held Denominated in Currency of Issue - Enter the fair value of the security being
reported, rounded to the nearest currency of issue unit. If the currency of issue is US$, report the same value as
in item 14a. (See Section III.K, Accounting Rules, Valuation of Securities, and Calculation of U.S. Dollar Values,
for more information on how to calculate the fair value.)
15. Intentionally left blank. Leave this field null or enter a blank space for each record.
FOR EQUITY SECURITIES ONLY
16. Number of Shares Held - Enter the number of shares held, rounded to the nearest share. Securities for
which the amount of shares held is zero should not be reported.
FOR SHORT-TERM AND LONG-TERM DEBT SECURITIES EXCLUDING ASSET-BACKED SECURITIES ONLY
17. Face Value in Currency of Denomination - For both short-term and long-term securities, enter the face
value held in the currency of denomination, rounded to the nearest whole currency unit. If a security is traded
in units, then calculate the face value as: (face value of each unit) * (the number of units held) and report the
result in this field. Securities for which the amount held is zero should not be reported.
18. Issue Date - Enter the issue date of this security in MMDDYYYY format. For example, if the security was
issued on October 4, 1985, enter 10041985. If there are multiple issue dates, enter the first such issue date.
19. Maturity Date - Enter the final maturity date (when all remaining principal and interest is due) of this
security in MMDDYYYY format. For example, if the security's final maturity date is January 5, 2010, enter
01052010.
FOR SHORT-TERM AND LONG-TERM ASSET-BACKED SECURITIES ONLY
20. Original Face Value in Currency of Denomination - Enter the original face value in the currency of
denomination, rounded to the nearest whole currency unit. This is the value that is (would have been)
outstanding if no principal has been (had been) repaid. If a security is traded in units, then calculate the original
face value as: (original face value of each unit) * (the number of units held) and report the result in this field.
21. Remaining Principal Outstanding in Currency of Denomination - Enter the remaining principal outstanding
as of December 31, in the currency of denomination, rounded to the nearest whole currency unit. This will
equal the original face value if no principal has been repaid. If a security is traded in units, then calculate the
remaining face value as: (remaining face value of each unit) * (the number of units held) and report the result in
this field. Securities for which the amount held is zero should not be reported.
22. Issue Date - Enter the issue date of this security in MMDDYYYY format. For example, if the security was
issued on October 4, 1985, enter 10041985. If there are multiple issue dates, enter the first such issue date.
23. Maturity Date - Enter the final maturity date of this security in MMDDYYYY format. For example, if the
security's final maturity date is January 5, 2010, enter 01052010.

22

C. SCHEDULE 3 - CUSTODIANS USED
(Please enter your ten-digit Reporter Identification Number at the top of each page of Schedule 3.)
1. Reporter Identification Number - Enter your organization’s ten-digit Reporter Identification Number. If you
do not know the Reporter Identification Number for your organization, please contact FRBNY staff at (212) 7206300 or (646) 720-6300.
2. Sequence Number - Enter the sequence number of this detail record, right justified. The first detail record
should be assigned sequence number 1, and each succeeding Schedule 3 should be assigned a sequence number
one higher than the previous record.
3. Custodian Code - Please refer to Appendix G for a list of the major U.S.-resident custodians.
If you do not see your U.S.-resident custodian listed in Appendix G, please enter 99 and complete items 9
through 14. (Items 4 through 8 should be completed on all Schedule 3s)
4. Total US$ Fair Value of Equities Entrusted - Enter the aggregate US$ fair value for all foreign equities that
you entrusted to the organization(s) reported in the custodian code field, rounded to the nearest U.S. dollar.
5. Total US$ Fair Value of Short-Term Debt (excluding asset-backed securities) Entrusted - Enter the aggregate
US$ fair value for all foreign short-term debt securities (excluding asset-backed securities) that you entrusted to
the organization(s) reported in the custodian code field, rounded to the nearest U.S. dollar.
6. Total US$ Fair Value of Long-Term Debt (excluding asset-backed securities) Entrusted - Enter the aggregate
US$ fair value for all foreign long-term debt securities (excluding asset-backed securities) that you entrusted to
the organization(s) reported in the custodian code field, rounded to the nearest U.S. dollar.
7. Total US$ Fair Value of Asset-Backed Securities Entrusted - Enter the aggregate US$ fair value for all foreign
asset-backed securities that you entrusted to the organization(s) reported in the custodian code field, rounded
to the nearest U.S. dollar.
8. Reporting As - Enter 1 if you are the U.S.-resident end-investor or fund manager or 2 if you are the U.S.resident custodian that is entrusting foreign securities to the organization reported in the custodian code field.
(See Appendix H for the definitions of end-investor and custodian.) Please note that, if you are the custodian,
but do not fully disclose the identities of your clients to the sub-custodian, your organization should report
those securities on Schedule 2, not on Schedule 3.
COMPLETE ITEMS 9 THROUGH 14 ONLY IF THE CUSTODIAN CODE (ITEM 3) IS 99
9. Name of U.S.-Resident Custodian - Enter the full legal name of the U.S.-resident custodian to which you
entrusted the securities.
10. Street Address of U.S.-Resident Custodian - Enter the mailing address of the U.S.-resident custodian
identified in item 9.
11. City - Enter the city in which the U.S.-resident custodian identified in item 9 is located.
12. State - Enter the state in which the U.S.-resident custodian identified in item 9 is located.

23

13. Zip Code - Enter the zip code for the address of the U.S.-resident custodian identified in item 9.
14. Telephone Number of U.S.-Resident Custodian - Enter the telephone number of the U.S.-resident custodian
identified in item 9.

24

APPENDIX A: SAMPLE REPORTING SCHEDULES

25

Department of the Treasury

OMB No. 1505-0146

Approval Expires 12/31/201x

SCHEDULE 1: REPORTER CONTACT IDENTIFICATION AND
SUMMARY OF FINANCIAL INFORMATION
REPORTER CONTACT INFORMATION

1.

Reporter Identification Number: Enter your 10-digit identification number……….….

2.

Organization Name:

Street Address:

City :

State:

Zip Code:

3. Reporting Status: Please enter one of the following………………………………………………………………….
1 = Exempt
2 = Only Schedule 2(s) are being submitted
3 = Only Schedule 3(s) are being submitted
4 = Schedules 2(s) and 3(s) are being submitted
4. Industrial Classification Code: Please enter one of the following that best describes your organization…...…………
1 = Bank
2 = Mutual Fund or Investment Trust
3 = Pension Fund

4 = Insurance Company
5 = Other Financial Organization
6 = Non-Financial Organization

7 = Foundation, Trust or Estate
8 = Institution of Higher Learning (e.g., university)
9 = Other (not listed above)

Please provide a contact in your organization who can respond to inquiries on questions raised on the data reported.
If you would like to provide more than one contact name, please attach additional copies of page 1, Schedule 1, with
items 5 through 9 completed.
5.

Name: __________________________________________________________________________________

6.

Title:

7.

Telephone Number: ____________________________ 8. Fax Number: ______________________________

9.

Email Address: ____________________________________________________________________________

__________________________________________________________________________________

10. Name of Service Provider or Vendor Used (if applicable): ___________________________________________
Please provide a technical contact at your organization or your service provider, if one is used, who can respond to inquiries
on file formats or electronic transmission issues.
11. Name: _____________________________________________________________________________________
12. Title: ______________________________________________________________________________________
13. Telephone Number: __________________________________________________________________________
14. Email Address: _____________________________________________________________________________
SHCA 2012

Schedule 1, Page 1 of 3

26

Please enter your 10-digit Reporter Identification Number……………………………..
15. Valuation Technique(s) Used to Determine Market Values
For each reporting unit, please describe the valuation technique(s) used to determine reported market values. If securities are
automatically valued at zero after a specified time period of inactivity, please specify the time period and whether this applies
to the security or to the client’s holdings of the security. Also, please specify how securities not actively traded on the report
date and those with internally generated security identification numbers are valued.
Reporting Unit

Valuation Description

________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________________

SHCA 2012

Schedule 1, Page 2 of 3

27

Please enter your 10-digit Reporter Identification Number………………………………………..
SUMMARY OF SCHEDULE 2 INFORMATION
16. Total Number of Schedule 2s Submitted……………………….……………………………..
17. Total US$ Fair Value of All Equity Securities ………………. ,
Reported on Schedule 2(s)

,

,

,

,

,

18. Total US$ Fair Value of All Short-Term Debt Securities…
,
(excluding asset-backed securities) Reported on Schedule 2(s)

,

,

,

19. Total US$ Fair Value of All Long-Term Debt Securities….
,
(excluding asset-backed securities) Reported on Schedule 2(s)

,

,

,

20. Total US$ Fair Value of All Asset-Backed……………….
Securities Reported on Schedule 2(s)

,

,

,

,

SUMMARY OF SCHEDULE 3 INFORMATION
21. Total Number of Schedule 3s Submitted…..…………………………………………………………….….
22. Total US$ Fair Value of All Equity Securities ……………
Reported on Schedule 3(s)

,

,

,

23. Total US$ Fair Value of All Short-Term Debt Securities…
,
(excluding asset-backed securities) Reported on Schedule 3(s)

,

24. Total US$ Fair Value of All Long-Term Debt Securities....
,
(excluding asset-backed securities) Reported on Schedule 3(s)
25. Total US$ Fair Value of All Asset-Backed………………
Securities Reported on Schedule 3(s)

,

,

,

,

,

,

,

,

,

,

,

,

CERTIFYING INFORMATION
By signing the certification below you acknowledge that:
•
•
•

You have read and understood the reporting requirements of this survey.
You are aware that both civil and criminal penalties may be imposed for filing a false report; and
You are sufficiently knowledgeable about the activities and functions of your organization that you can knowingly and
with reasonable confidence certify that the information provided in this report is both accurate and complete.

Certifier's Signature:
26. Certifier's Name:
27. Certifier's Title:
28. Certifier's Telephone Number:

29. Date Signed: __________________

30. Certifier's Email Address: __________________________________________________________________________
SHCA 2012

Schedule 1, Page 3 of 3

28

Department of the Treasury

OMB No. 1505-0146

Approval Expires 12/31/201x

SCHEDULE 2: DETAILS OF SECURITIES
1.

Reporter Identification Number: Enter your 10-digit identification number..…………

2.

Sequence Number: From 1 to the number of Schedule 2 records submitted………………..……

,

,

3a. Reporting Unit………………………………………………………………..………….………….…………..………..
3b. Name of Reporting Unit: ____________________________________________________________________________

4.

Security ID………………………………………………………………………

5.

Security Description: _______________________________________________________________________________

6.

Security ID System: Please select the appropriate code from the list in Appendix C……………………………….

6a. For code of Other (99) enter the name of the organization or system that assigned the Security ID:
________________________________________________________________________________________________
7.

Security Type: Please enter one of the following………………………………………………………………………
Equity
1 = Common stock
2 = Preferred stock
3 = Fund shares
4 = All other equity

Debt (excluding asset-backed securities)
5 = Commercial paper
9 =Unstripped bond or note &
6 = Negotiable CD
all other non-asset backed debt
7 = Convertible debt security
8 = Zero-coupon & stripped
security

Asset-Backed Securities
10 = Asset-backed security

8. Depositary Receipt/Share: Please enter one of the following…………………………………………………………
1 = Yes, the security is a Depositary Receipt/Share
2 = No, the security is NOT a Depositary Receipt/Share
9.

Name of Issuer: ____________________________________________________________________________

10. Term Indicator (debt, including ABS, only; based on original maturity)……………………………………………...
1 = Short Term

2 = Long Term

11. Country of Issuer:……………………………………………………………………………………….
Enter the code from Appendix D for the country of residence of the entity issuing the security.
12. Currency of Denomination:……………………………………………………………………………………..
Enter the code from Appendix F for the currency in which the security was issued.
13. Ownership Code: Please enter one of the following ………………………………………………………………….
1 = If your organization is the owner of this security
2 = If your organization is the custodian for a U.S.-resident mutual fund for this security
3 = If your organization is the custodian for a U.S.-resident pension fund for this security
4 = If your organization is the custodian for a U.S.-resident insurance company for this security
5 = If your organization is the custodian for any other U.S. residents for this security
6 = If your organization is the custodian and the entity-type of the owner is unknown

SHCA 2012

Schedule 2, Page 1 of 2

29

Reporter Identification Number: Enter your 10-digit identification number……….………

14a. US$ Fair Value of Security Held…….…………………………… ……… ,
14b. Fair Value of Security Held Denominated in the
Currency of Issue (If US$ is the currency of issue, then enter the
same value as item 14a.)……………………………………………………

,

,

,

,

,

,

,

,

15. Intentionally Left Blank.
FOR EQUITY SECURITIES ONLY
(Security Types 1, 2, 3 or 4)
16. Number of Shares Held: Enter the number of shares held
rounded to the nearest share…………………………………………………..

FOR SHORT-TERM AND LONG-TERM DEBT SECURITIES EXCLUDING
ASSET-BACKED SECURITIES
(Security Types 5, 6, 7, 8, or 9)
17. Face Value in Currency of Denomination: Enter the face value in the
currency of denomination………………………………………………………..

,

,

,

18. Issue Date: MMDDYYYY format……………………………………………………..……………...

19. Maturity Date: MMDDYYYY format….……………………………………………………………….
FOR SHORT-TERM AND LONG-TERM ASSET-BACKED SECURITIES
(Security Type 10)
20.

Original Face Value in Currency of Denomination: Enter the face value……..
the currency of denomination that would have been outstanding if no
principal had been repaid.

21.

Remaining Principal Outstanding in Currency of Denomination: Enter ……...
the remaining principal outstanding as of December 31 in the
currency of denomination.

22.

Issue Date: MMDDYYYY format…………………………………………………………………

23.

Maturity Date: MMDDYYYY format…………………………………………………………….

SHCA 2012

Schedule 2, Page 2 of 2

30

, ,

,

,,

, ,

,

,

,

,

Department of the Treasury

OMB No. 1505-0146

Approval Expires 12/31/201x

SCHEDULE 3: CUSTODIANS USED

1. Reporter Identification Number: Enter your 10-digit identification number.………………
2.

Sequence Number: From 1 to the number of Schedule 3 records submitted: ..………………………….

3

Custodian Code: Please see Appendix G for a list of custodians. If the U.S.-resident custodian used is not ……
on the Appendix, please enter 99 and complete items 9 through 14.

4.

Total US$ Fair Value of Foreign Equity Securities
Entrusted to this Custodian as of December 31……………..…….,,

,

,

,

,

Total US$ Fair Value of Foreign Short-Term Debt
Securities (excluding asset-backed securities) Entrusted
to this Custodian as of December 31 ………………………….…….

,

,

,

,

Total US$ Fair Value of Foreign Long-Term Debt
Securities (excluding asset-backed securities) Entrusted
to this Custodian as of December 31 …………………….…….…..

,

,

,

,

Total US$ Fair Value of Foreign Asset-Backed
Securities Entrusted to this Custodian
as of December 31 …………….……………………..……….…….

,

,

,

,

5.

6.

7.

8.

,

Reporting As: Please enter one of the following………..………………………………………………………………
1 = U.S.-resident end-investor (as defined in Appendix H - Glossary)
2 = U.S.-resident custodian (as defined in Appendix H - Glossary), who is in turn entrusting these securities to
another U.S.-resident custodian that knows the identities of its customers
Complete only if the U.S.-Resident Custodian Code in Item 3 is 99:

9.

Name of U.S.-Resident Custodian:
__________________________________________________________________________________

10. Street Address of U.S.-Resident Custodian:
___________________________________________________________________________________

11. City: _________________________

12. State: _____________________ 13. Zip Code: ______________

14. Telephone Number of U.S.-Resident Custodian:
_____________________________________________________________________

SHCA 2012

Schedule 3, Page 1 of 1

31

APPENDIX B: REPORTING REQUIREMENT FLOWCHARTS
1. Reporting Requirements for Reporters that are U.S.-Resident Custodians (See Section II.A.)
Flowchart 1a - Foreign securities held in custody for your own organization or for your U.S.-resident clients
that are not in turn entrusted to any other organization
Flowchart 1b - Foreign securities entrusted to the safekeeping of a U.S.-resident central securities
depository
Flowchart 1c - Foreign securities held abroad, either by employing a foreign-resident custodian or by directly
entrusting to a foreign-resident central securities depository
Flowchart 1d - Foreign securities entrusted to the safekeeping of another U.S.-resident custodian (excluding
U.S.-resident central securities depositories)
2. Reporting Requirements for Reporters that are U.S.-Resident End-Investors (See Section II.A.)
Flowchart 2a - Foreign securities held for your own organization or for your U.S.-resident clients that are not
in turn entrusted to any other organization (held in self-custody)
Flowchart 2b - Foreign securities entrusted to the safekeeping of a U.S.-resident central securities
depository
Flowchart 2c - Foreign securities held abroad, either by employing a foreign-resident custodian or by directly
entrusting to a foreign-resident central securities depository
Flowchart 2d - Foreign securities entrusted to the safekeeping of a U.S.-resident custodian (excluding U.S.resident central securities depositories)
3. Determining Reportable Securities
Please note that flowcharts designed for the TIC SLT, a complementary/companion report, are also available
for guidance at
http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-slt.aspx

32

Reporting Requirements for Reporters that are U.S.-Resident Custodians (See
Section II.A.)
Flowchart 1a - Foreign securities held in custody for your own organization or for your U.S.resident clients that are not in turn entrusted to any other organization
U.S. resident investor
(including the
reporting custodian’s
own portfolio)

U.S.-resident
custodian
(Reporter)

The reporter submits
detailed data on Schedule
2.

Flowchart 1b - Foreign securities entrusted to the safekeeping of a U.S.-resident central securities
depository
U.S. resident investor
(including the
reporting custodian’s
own portfolio)

U.S.-resident
custodian
(Reporter)

The reporter submits
detailed data on Schedule
2.

33

U.S.-resident
central
securities
depository

U.S.-resident
central securities
depositories do not
report.

Reporting Requirements for Reporters that are
U.S.-Resident Custodians (See Section II.A.)
Flowchart 1c - Foreign securities held abroad, either by employing a foreign-resident custodian or
by directly entrusting to a foreign-resident central securities depository
U.S. resident investor
(including the
reporting custodian’s
own portfolio)

U.S.-resident
custodian
(Reporter)

The reporter submits
detailed data on Schedule
2.

Foreign-resident
custodian or
central securities
depository

Foreign-resident
organizations do not
report.

Flowchart 1d - Foreign securities entrusted to the safekeeping of another U.S.-resident custodian
(excluding U.S.-resident central securities depositories)
U.S. resident investor
(including the
reporting custodian’s
own portfolio)

U.S.-resident
custodian
(Reporter)

U.S.-resident
sub-custodian

The reporter submits summary
data on Schedule 3 for each
U.S.-resident sub-custodian
using the appropriate custodian
codes.

34

The U.S.-resident sub-custodian submits
detailed data on Schedule 2.

Reporting Requirements for Reporters that are
U.S.-Resident End-Investors, including Investment Managers (See Section II.A.)
Flowchart 2a - Foreign securities held for your own organization or for your U.S.-resident clients
that are not in turn entrusted to any organization
U.S. resident investor
(including the
reporting endinvestor’s own
portfolio)

U.S.-resident endinvestor (including
managers)
(Reporter)

The reporter submits
detailed data on Schedule
2.

Flowchart 2b - Foreign securities entrusted to the safekeeping of a U.S.-resident central securities
depository
U.S. resident investor
(including the
reporting endinvestor’s own
portfolio)

U.S.-resident endinvestor (including
managers)
(Reporter)

The reporter submits
detailed data on Schedule
2.

35

U.S.-resident
central
securities
depository

U.S.-resident central
securities depositories do
not report.

Reporting Requirements for Reporters that are
U.S.-Resident End-Investors (See Section II.A.) (cont’d)
Flowchart 2c - Foreign securities held abroad, either by employing a foreign-resident custodian or
by directly entrusting to a foreign-resident central securities depository
U.S. resident investor
(including the
reporting endinvestor’s own
portfolio)

U.S.-resident endinvestor (including
managers)
(Reporter)

The reporter submits
detailed data on Schedule
2.

Foreign-resident
custodian or
central securities
depository

Foreign-resident
organizations do not
report.

Flowchart 2d - Foreign securities entrusted to the safekeeping of a U.S.-resident custodian
(excluding U.S.-resident central securities depositories)

U.S. resident investor
(including the
reporting endinvestor’s own
portfolio)

U.S.-resident endinvestor (including
managers)
(Reporter)

The reporter submits summary
data on Schedule 3 for each U.S.resident custodian using the
appropriate custodian codes.

36

U.S.-resident
custodian

The U.S.-resident custodian submits
detailed data on Schedule 2.

Flowchart 3 Determining Reportable Securities

Is this an equity security, a
debt security (including
ABS), or a negotiable
money market instrument?
(See Section III.A.)

NO

YES
NO 3

Is this security
issued by a
foreign resident?

YES
Is the owner of
the foreign
security a U.S.
resident?

NO

Do not report non-securities
such as derivatives, loans, and
non-negotiable deposits.

Do not report securities issued
by U.S.-residents, including
U.S. branches and subsidiaries
of foreign organizations.
However, report ADRs, even
though these are issued by
U.S.-resident entities, since
they represent shares in the
underlying foreign security.

Do not report foreign
securities owned by foreign
residents because this
investment does not represent
a cross-border investment.

YES

If a foreign equity
security, does the
investment represent less
than 10% of the issuer’s
voting equity?

NO

YES
Report this security. Please refer to
Flowcharts 1a through 2d to determine if
the security is reported in detail on
Schedule 2 or in summary on Schedule 3.

37

Do not report investments
that represent 10% or more
of the issuer’s voting equity,
i.e., direct investments. (See
Section III.G.)

APPENDIX C: LIST OF SECURITY IDENTIFICATION SYSTEMS
Issuing

Code

Country/Agency

Security Identification Coding System

Primary Codes - If they are not applicable, use the secondary codes listed below.
01
02
31
33

International
Organization for
Standardization (ISO)
Common Code
United Kingdom
United States

ISIN (International Securities Identification Number)
"European" Common Code (Clearstream/CedeUEuroclear)
SEDOL (Stock Exchange Daily Official List)
CINS (CUSIP International Numbering System for Non-North American Securities)

Secondary Codes — Only use these codes if none of the primary codes listed above are available.
03
04
05
06
07
08
09
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
32

Euroclear
Cedel
Australia
Austria
Belgium
Brazil
Brazil
Brazil
Denmark
France
Germany
Hong Kong
Italy
Italy
Japan
Japan
Korea
Mexico
Netherlands
New Zealand
Norway
Portugal
Portugal
South Africa
Spain
Sweden
Switzerland
Thailand
United States

Euroclear Code (old)
Cedel Code (old)
ASX Security Code (Australian Stock Exchange)
WPK Nummer (Wertpapier Kenn-Nummer)
SVM Code (Secretariat des Valeurs Mobilieres)
National Stock Exchange Association Code (Comissao Nacional de Bolsas de Valores)
Rio de Janeiro Stock Exchange Code
Sao Paulo Stock Exchange Code
Fondskode
SICOVAM (Societe Interprofessionnelle pour la Compensation des Valeurs Mobilieres)
WKN Nummer (Wertpapier Kenn-Nummer)
Stock Exchange of Hong Kong Code
UIC Code (Ufficio Italiano dei Cambi)
ABI Code (Codice Associazione Bancaria Italiana)
SICC Code (Security Identification Code Conference)
TSE Code (Tokyo Stock Exchange Code) (Toushou Code)
Clearing Code (Korean Stock Exchange Code)
Mexican Stock Exchange Code (Clave de pizarra de la Bolsa Mexicana de Valores)
Clearing Code (Amsterdam Stock Exchange Code)
New Zealand Stock Exchange Code
Modified ISIN (Verdipapirsentralen) (VPS)
Lisbon Stock Exchange Code
Oporto Stock Exchange Code
Clearing House Code (Johannesburg Stock Exchange Code)
CNMV Code (Comision Nacional del Mercado de Valores)
VPC Number (Vardepapperscentralen)
VALOR (Valoren-Nummer)
Stock Exchange of Thailand Code
CUSIP Number (for North American Securities)

40

BB

Bloomberg security identification code issued by Bloomberg

50

RIC

Reuters Identification Code issued by Reuters

98

Your Company

Internally-Generated Code

99

Other

Other Coding System Not Specified Above

38

APPENDIX D: COUNTRY/AREA CODES
DEPARTMENT OF THE TREASURY

CODES FOR COUNTRIES & AREAS TO BE USED FOR PURPOSES OF REPORTING ON TREASURY INTERNATIONAL
CAPITAL FORMS

The most recent version of this appendix is now a separate document.
A copy is on the TIC website at:
http://www.treasury.gov/resource-center/data-chart-center/tic/Documents/fctry-june2006.pdf

39

APPENDIX E: INTERNATIONAL & REGIONAL ORGANIZATIONS
DEPARTMENT OF THE TREASURY

CODES FOR INTERNATIONAL & REGIONAL ORGANIZATIONS TO BE USED FOR PURPOSES OF REPORTING ON
TREASURY INTERNATIONAL CAPITAL FORMS

The most recent version of this appendix is now a separate document.
A copy is on the TIC website at:
http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/foihome.aspx

40

APPENDIX F: LIST OF CURRENCY CODES
Code
AFN
ALL
DZD
ADP
AOR
ARS
AMD
AWG
AUD
I AZM
BSD
BHD
BDT
BBD
BYR
BZD
BMD
BTN
BOB
BWP
I BAM
BRL
BND
BGN
BIF
KHR
CAD
CVE
KYD
XOF
XAF
XPF
CLP
CNY
COP
KMF
CDF
CRC
HRK
CUP

Currency
Afghanistan Afghani
Albanian Lek
Algerian Dinar
Andorran Peseta
Angolan Kwanza Reajustado
Argentine Peso
Armenian Dram
Aruban Guilder
Australian Dollar
Azerbaijanian New Manat
Bahamian Dollar
Bahraini Dinar
Bangladeshi Taka
Barbados Dollar
Belarussian Ruble
Belize Dollar
Bermudian Dollar
Bhutan Ngultrum
Bolivian Boliviano
Botswana Pula
Bosnia & Herzegovina
Convertible Marks
Brazilian Real
Brunei Dollar
Bulgarian Lev
Burundi Franc
Cambodian Riel
Canadian Dollar
Cape Verde Escudo
Cayman Islands Dollar
CFA Franc BCEAO
CFA Franc BEAC
CFP Franc
Chilean Peso
Chinese Yuan Renminbi
Colombian Peso
Comoro Franc
Congolais Franc
Costa Rican Colon
Croatian Kuna
Cuban Peso

Code
CYP
CZK
DKK
DJF
DOP
XCD
EGP
SVC
ERN
EEK
ETB
EUR
FKP
FJD
GMD
GEL
GHC
GIP
GTQ
GWP
GNF
GYD
HTG
HNL
HKD
HUF
I SK
INR
IDR
IRR
IQD
JMD
JPY
JOD
KZT
KES
KWD
KGS
LAK
LVL

41

Currency
Cyprus Pound
Czech Koruna
Danish Krone
Djibouti Franc
Dominican Peso
East Caribbean Dollar
Egyptian Pound
El Salvador Colon
Eritrea Nakfa
Estonia Kroon
Ethiopian Birr
European Union Euro
Falkland Islands Pound
Fiji Dollar
Gambia Dalasi
Georgia Lari
Ghana Cedi
Gibraltar Pound
Guatemala Quetzal
Guinea-Bissau Peso
Guinea Franc
Guyana Dollar
Haitian Gourde
Honduras Lempira
Hong Kong Dollar
Hungarian Forint
Iceland Krona
Indian Rupee
Indonesian Rupiah
Iranian Rial
Iraqi Dinar
Jamaican Dollar
Japanese Yen
Jordanian Dinar
Kazakhstan Tenge
Kenyan Shilling
Kuwaiti Dinar
Kyrgyzstan Som
Laos Kip
Latvian Lats

Code
LBP
LSL
LRD
LYD
LTL
MOP
MKD
MGF
MWK
MYR
MVR
MTL
MRO
MUR
MXN
MDL
MNT
MAD
I MZM
MMK
NAD
NPR
ANG
ILS
TWD
NZD
NIO
NGN
KPW
NOK
OMR
PKR
PAB
PGK
PYG
PEN
PHP
PLN
GBP
QAR
ROL
RUB
RWF
SHP
WST

Currency
Lebanese Pound
Lesotho Lote
Liberian Dollar
Libyan Dinar
Lithuanian Litas
Macau SAR Pataca
Macedonian Denar
Malagasy Franc
Malawi Kwacha
Malaysian Ringgit
Maldives Rufiyaa
Maltese Lira
Mauritania Ouguiya
Mauritius Rupee
Mexican Peso
Moldovan Leu
Mongolian Tugrik
Moroccan Dirham
Mozambique New Metical
Myanmar Kyat
Namibia Dollar
Nepalese Rupee
Netherlands Antillean Guilder
New Israeli Shekel
New Taiwan Dollar
New Zealand Dollar
Nicaraguan Cordoba Oro
Nigerian Naira
North Korean Won
Norwegian Krone
Omani Rial
Pakistani Rupee
Panamanian Balboa
Papua New Guinea Kina
Paraguay Guarani
Peruvian New Sol
Philippine Peso
Polish Zloty
Pound Sterling
Qatari Rial
Romanian Leu
Russian Ruble
Rwanda Franc
Saint Helena Pound
Samoan Tala

Code
STD
SAR
SCR
SLL
SGD
SKK
SIT
SBD
SOS
ZAR
KRW
LKR
SDD
SRG
SZL
SEK
CHF
SYP
TWD
TJS
TZS
THB
TOP
TTD
TND
TRY
TMM
UGX
UAH
AED
USD
UYU
UZS
VUV
VEB
VND
YER
YUM
ZMK

42

Currency
Sao Tome & Principe Dora
Saudi Arabian Riyal
Seychelles Rupee
Sierra Leone Leone
Singapore Dollar
Slovak Koruna
Slovenia Tolar
Solomon Islands Dollar
Somali Shilling
South African Rand
South Korean Won
Sri Lanka Rupee
Sudanese Dinar
Suriname Guilder
Swziland Lilangeni
Swedish Krona
Swiss Franc
Syrian Pound
Taiwan New Dollar
Tajikistan Somoni
Tanzanian Shilling
Thailand Baht
Tongan Pa'anga
Trinidad and Tobago Dollar
Tunisian Dinar
Turkish Yani
Turkmenistan Manat
Uganda New Shilling
Ukrainian Hryvnia
United Arab Emirates
United States Dollar
Uruguayo Peso
Uzbekistan Sum
Vanuatu Vatu
Venezuelan Bolivar
Vietnamese Dong
Yemeni Rial
Yugoslavian Dinar
Zambian Kwacha

APPENDIX G: LIST OF CUSTODIAN CODES
If your securities are held by any U.S. subsidiary of one of the custodians below, please use the custodian code of the
listed firm.
Name of U.S.-Resident Custodian

Custodian Code

Bank of America Corporation
(including but not limited to LaSalle Bank, U.S. Trust Co., Merrill Lynch)

41

Bank of New York Mellon Corporation
(including but not limited to former affiliates of Bank of New York, The
and Mellon Financial Corporation, PFPC Trust Co and other former affiliates
of PNC Global Investment Services; excluding Pershing LLC below)

4

Barclays Bank PLC
(U.S.-resident branches)

63

Barclays Group Inc./Barclays Capital Inc.
(excluding branches of Barclays Bank PLC)

64

BMO Financial Corporation
(including but not limited to BMO Harris Bank, Marshall & Ilsley (M&I) companies)

62

BNP Paribas
(U.S.-resident branches only)

7

Brown Brothers Harriman & Co.

8

Charles Schwab Corporation, The
(including but not limited to Charles Schwab & Co., Inc. and Charles Schwab Bank)
Citigroup Inc./Citibank, N.A.
(including but not limited to Salomon Smith Barney)

58
9

Comerica Incorporated
(including but not limited to Comerica Bank and Comerica Securities, Inc.)

61

Deutsche Bank Aktiengesellschaft
(U.S.-resident branches only)
(excludes Deutsche Bank Trust Company Americas and Taunus Corporation
below)

12

Deutsche Bank Trust Company Americas
(part of Taunus Corporation below)

6

Fidelity Management and Research Corp. (FMR Corp.)
(including but not limited to Fidelity Investments, Fidelity Management Trust
Company, and National Financial Services Corporation)

26

43

Fifth Third Bancorp/Fifth Third Bank

25

Goldman Sachs Group L.P.

27

Harris Bank/BMO Harris Bank
(part of BMO Financial Corporation above)

62

HSBC North America Inc./HSBC Bank USA, N.A.

14

JPMorgan Chase & Co./JPMorgan Chase Bank

16

Marshall & Ilsley Investment Corporation/Marshall & Ilsley Trust Co.
(part of BMO Financial Corp. above)

62

Merrill Lynch & Company, Inc.
(part of Bank of America above)

41

Morgan Stanley, Dean Witter & Co.

29

Northern Trust Company, The

18

Pershing LLC
(including but not limited to Lockwood Advisors, Inc.;
excluded from Bank of New York Mellon above)

40

PNC Financial Services Group, Inc., The
(including but not limited to PNC Bank, N.A.; excluding PFPC Trust Company
and other affiliates of PNC Global Investment Services, Inc. that are now part of
Bank of New York Mellon above)

30

State Street Bank and Trust Company
(including but not limited to International Fund Services, Investors Financial
Services Corporation, Investors Bank and Trust, and Investors Trust Company)

20

Taunus Corporation/Deutsche Bank Trust Company Americas
(including but not limited to Deutsche Bank Securities Inc.)
UBS AG

6
21

(U.S.-resident branches only)

UBS Financial Services Inc.

59

UBS Securities LLC

60

Union Bancorp/Union Bank of California, N.A.

22

UMB Financial Corporation/UMB Bank N.A.

33

U.S. Bancorp/U.S. Bank N.A.

32

Wachovia Corporation /Wachovia Bank N.A.
(acquired by Wells Fargo & Co. below)

35

44

Wells Fargo & Co./Wells Fargo Bank, N.A.
(including but not limited to Wachovia Corporation, Wachovia Bank,
A.G. Edwards& Sons, Inc.)

35

U.S.-Resident custodian that is not listed above

99

45

APPENDIX H: GLOSSARY
AMERICAN DEPOSITARY RECEIPT (ADR) – Negotiable certificates, typically issued by a U.S.-resident company, for
shares of stock issued by a foreign corporation. The securities are held in a custodial account, either at the issuing
bank or by an agent. The ADR should be reported, not the foreign securities held by the depository. Report the ADR
as common stock (security type-=1) if the underlying foreign security is common stock or as preferred stock (security
type =2) if the underlying foreign security is preferred stock. (See Section III.E for more information on the correct
reporting of these securities.)
AMERICAN DEPOSITARY SHARE (ADS) – Negotiable securities certificate issued in the United States by transfer
agents acting on behalf of foreign issuers, where the foreign issuers absorb part or all of the handling costs involved.
The ADS should be reported, not the foreign securities held in custody. Report the ADS as common stock (security
type =1) if the underlying foreign security is common stock or as preferred stock (security type =-2) if the underlying
foreign security is preferred stock. (See Section III.E for more information on the correct reporting of these securities.)
ASSET-BACKED SECURITIES – Securitized interests in a pool of assets, which give the purchaser a claim against
the cash flows generated by the underlying assets. These pools may be derived from mortgage loans, auto loans, credit
card receivables, vehicle and equipment leases, consumer loans, commercial loans or other assets. Include as assetbacked securities (ABS): CMOs, CLOs, CBOs and CDOs. ABS give the holder an undivided interest in the securitized
assets and payments made from the cash flows received by the issuer from the payments of principal and interest from
the borrowers. (ABS do not include securities, such as covered bonds or pfandbriefes, where the security is
collateralized, but the holder of the security does not have a claim of the cash flows generated by the collateral.)
ABS, including stripped ABS, are reported as security type 10 (asset-backed security), except for asset-backed
commercial paper, which is reported as security type 5 (commercial paper).
BEARER BOND – Securities that are not registered in the name of their owner. The owner collects interest and
dividends upon presentation of detachable coupons to a bank or fiduciary agent. These securities are reported as
security type 9 (unstripped bond or note and all other long-term debt).
BRADY BONDS – Collateralized dollar-denominated bonds issued by a foreign government or central bank in exchange
for loans under the Brady Plan. These securities are reported as all other long-term debt (security type = 9).
COMMERCIAL PAPER – A promissory note, either unsecured or backed by assets such as loans or mortgages. They are
usually sold at a discount and customarily have a fixed maturity of 270 days or less. All commercial paper should be
reported as security type = 5 (commercial paper).
COMMINGLED ACCOUNT – An account in which the investment funds of individual clients are pooled, with each
client owning portions of the pooled account. Foreign securities held in U.S.-resident commingled accounts should be
reported. U.S. residents’ ownership of foreign-resident commingled should also be reported.
CONVERTIBLE BOND – A bond that can be exchanged at a set price for equity securities by the holder under
certain conditions. These securities are reported as convertible debt (security type = 7).
COVERED BOND – Also known as Mortgage Bond or Pfandbriefe. A bond that is backed by loans, typically
mortgages, but does not give the purchaser a claim against the cash flows generated by the

46

underlying assets. These securities are reported as security type 9 (unstripped bond or note and all other longterm debt.
CUSTODIAN – A bank or other organization that manages or administers the custody or safekeeping of
stock certificates, debt securities, or other assets for institutional and private investors.
DEPOSITARY RECEIPTS – See American Depositary Receipts (ADR). Related types of depositary receipts, such
as Global Depositary Receipts, are reported in the same manner as ADRs.
DEPOSITORY – An entity that holds securities, either in certificated or uncertificated (dematerialized) form, to
enable the transfer of ownership of securities. Depositories are not necessarily custodians, since they may be
responsible only for registering and settling security transactions.
DERIVATIVE CONTRACT – Financial instrument or other contract with all three of the following
characteristics:
1.
2.

3.

(a) One or more underlyings; (b) one or more notional amounts; and (c) payment provisions. These
terms determine the amount of the settlement or settlements, and, in some cases, whether or not a
settlement is required.
Requires no initial investment, or an initial net investment that is much smaller than would be required
for other types of contracts that would be expected to have a similar response to changes in market
factors.
The terms require or permit net settlement, it can readily be settled net by a means outside the
contract, or it provides for delivery of an asset that puts the recipient in a position not substantially
different from net settlement.

Derivative contracts are excluded from the report. Embedded derivatives that are not bifurcated under ASC
815 (formerly FAS 133) should be reported without separating the embedded derivative from the host contract.
However, if the embedded derivative is bifurcated from the host contract, then the derivative should be
excluded from the report and the host security should be included on the report.
DEVELOPMENT BANKS – Entities owned by national governments and established to promote economic
development of sectors of the economy, such as trade, housing, agriculture, finance and industry. Securities issued
by foreign development banks should be reported.
DIRECT INVESTMENT – Investment in which a resident of one country obtains a degree of influence over the
management of a business enterprise in another country. The criterion used to define direct investment is
ownership of at least 10 percent of the voting securities of an incorporated business enterprise or the equivalent
interest in an unincorporated business enterprise. U.S. direct investment abroad represents the ownership or
control, directly or indirectly, by one U.S. resident (U.S. parent) of at least 10 percent of a foreign business
enterprise, which is called a foreign affiliate. Foreign direct investment in the United States represents the
ownership or control, directly or indirectly, by one foreign resident (foreign parent) of at least 10 percent of a U.S.
business enterprise, which is called a U.S. affiliate. For guidance on how to apply the direct investment criterion in
the case of a limited partnership, see “Limited partnerships and direct investment” below.
Direct investment transactions and positions include the equity that gives rise to control or influence and
intercompany lending, i.e., debt between affiliated enterprises. However, debt between selected affiliated financial
intermediaries is not classified as direct investment because it is not considered to be so strongly connected to the

47

direct investment relationship. The financial intermediaries covered by this case are: (a) deposit-taking
corporations; (b) securities brokers and dealers; and (c) financial and bank holding companies. Insurance companies,
investment funds and other financial intermediaries are not covered by this case.
All direct investment transactions and positions are excluded from the TIC system. These transactions and positions
should instead be reported to the Bureau of Economic Analysis (BEA). U.S. residents in direct investment
relationships are required to file reports with BEA unless exempt. (See forms and reporting requirements at:
http://www.bea.gov/international /index.htm#surveys.) For U.S. direct investment abroad, call 202-606-5566; for
foreign direct investment into the United States, call 202-606-5577.
Limited partnerships and direct investment - The determination of whether a partner and a limited partnership are
in a direct investment relationship is based on who controls the partnership; it is NOT based on the percentage of
ownership in the partnership’s equity.
In most cases, the general partner is presumed to control a limited partnership and therefore, to be in a direct
investment relationship with the limited partnership. If there is more than one general partner, the partnership is
presumed to be controlled equally by each of the general partners, unless a clause to the contrary is contained in the
partnership agreement.
Limited partners do not normally exercise any control over a limited partnership. Therefore unless a clause to the
contrary is contained in the partnership agreement, limited partners are presumed not to be in a direct investment
relationship with the limited partnership.
Some partnership agreements grant voting rights to limited partners. In such a case, the limited partner could be in
a direct investment relationship with the limited partnership if it met the 10 percent voting rights criterion for direct
investment.
END-INVESTOR – An entity that invests in foreign securities for its own account (for trading, investment, or
any other purpose) or invests on behalf of others, including asset pools, such as managers of mutual funds,
managers of insurance company policyholder assets, and pension fund managers. (See Section II.A for examples
of end-investors.)
FOREIGN RESIDENT (FOREIGN, FOREIGNER) - Any individual, corporation, or other entity legally established
outside of the United States, regardless of the actual center of economic activity of the entity. Thus, a
corporation incorporated outside the United States is a foreign resident even if it has no physical presence
outside the United States. Foreigners/foreign residents include:
1.

Individuals, including citizens of the United States, residing outside the United States. (This includes
individuals that have filed an IRS Form W-8, indicating that the individual is a non-resident alien.
However, if an IRS form is not available, the mailing address can be used to determine residency.)

2.

Entities that have filed an IRS Form W-8, indicating that the individual or entity is a nonresident alien or
foreign entity not subject to certain United States information return reporting or to backup
withholding rules.

3.

Any corporation or other organization legally established outside of the United States, including
branches, subsidiaries and other affiliates of U. S. entities located abroad.

4.

Foreign governments and any subdivision, agency or instrumentality thereof, including all foreign
official nonbanking institutions, even if located in the United States (e.g., an embassy, consulate, or
other diplomatic establishment of a foreign country). (However, all U.S.-resident subsidiaries of foreign

48

corporations, including government-owned foreign corporations, are U.S. residents.)
5.

International or regional organizations or subordinate or affiliated agencies thereof, created by treaty or
convention between sovereign states, even if located in the United States, including the
Internation al Ban k for Recon stru ction an d Develop ment (IBRD or World Bank), the
International Monetary Fund (IMF), and the United N ations (UN ). (See App endix E for a list of
intern ation al an d regional organizations.)

FOREIGN-RESIDENT CUSTODIAN – A custodian organized under the laws of a country other than the United States,
including a foreign affiliate of a U.S. custodian. Reporters should determine the residence of a custodian according
to the country in which the custodian is incorporated, or otherwise legally established, not according to the country
of the custodian's parent firm, and not according to the location of the custodian's operations center.
FOREIGN SUBCUSTODIAN – A foreign institution that holds in safekeeping foreign securities for a U.S.-resident
custodian.
FUNDS – Pooled, separate and general investment accounts of one or more of the following institutional and private
investors: private and public pension funds; mutual funds, country funds, exchange traded funds, unit investment
trusts, collective-investment trusts, and any other similarly pooled, commingled investment funds; insurance
companies; foundations; institutions of higher learning; government-sponsored enterprises and
other independently acting government agencies; financial and nonfinancial corporations; investment advisors;
trusts and estates; and private individuals. U.S. ownership of shares of foreign-resident funds are reported as funds
(security type= 3), regardless of the types of securities held by the fund. Foreign securities held in U.S.-resident
funds should also be reported. (See Section III.0 for the correct reporting of funds.)
INVESTMENT TRUST SHARE – A share of a company bound by a trust deed issued in registered form, formed to
invest in specific types of securities. Shares in an investment trust can usually be bought and sold only through the
stock exchange. Sometimes referred to as a 'closed-end' fund. Investment trust shares are reported as fund shares
(security type =3), regardless of the types of securities held by the trust. U.S. ownership of shares of foreign-resident
investment trust are reported as funds (security type= 3), regardless of the types of securities held by the trust.
Foreign securities held in U.S.-resident investment trusts or their foreign equivalents should also be reported. (See
Section III.0 for the correct reporting of funds.)
LONG-TERM – No contractual maturity or an original maturity of more than one year.
LONG-TERM DEBT SECURITY – Debt security with no contractual maturity or with an original maturity of
more than one year.
NATIONALIZED BANK – Institution owned by a foreign central government that is classified as a bank in its
own country. A nationalized bank is considered to be an official organization only if it also performs the
functions of a central bank.
NEGOTIABLE CERTIFICATES OF DEPOSIT – A negotiable (transferable) instrument or deposit in book entry
form evidenced by a receipt or similar acknowledgement issued by a bank, which provides on its face that the
amount of such deposit is payable to bearer or any specified person (e.g., deposit notes, bank notes). These
negotiable money market instruments should be reported as security type 6.
SECURITY – Any bill, note, bond, debenture, instrument representing ownership of equity in a company,
negotiable money market instrument, or similar instrument that is commonly referred to as a security,

49

whether or not is tradeable. Do not include loans, even if tradeable. See Section III.A for a list of reportable
foreign securities.
SETTLEMENT DATE – The date a security is delivered to the purchaser.
SETTLEMENT DATE ACCOUNTING – Under settlement date accounting, the purchase and sale of assets
are not recorded until the settlement date. Settlement date accounting should be used for purposes of this
report.
SHORT-TERM – Original maturity of one year or less.
SHORT-TERM DEBT SECURITY – Debt security, including negotiable money market instruments, with an
original maturity of one year or less.
STRUCTURED NOTE OR BOND – An over-the-counter financial instrument created specifically to meet the
needs of one or a small number of investors. Some of the more common structures include: step-up
bonds, index amortizing notes, dual index notes, deleveraged bonds, range bonds, and inverse floaters. These
securities are reportable debt securities.
SUBORDINATED DEBT – A security evidencing debt that the holder agrees to rank after senior creditors, but
before shareholders, in a bankruptcy.
SUBSIDIARY – A company in which another company (parent) owns 50 percent or more of the voting
securities, or an equivalent interest.
TREASURY BILL – a common form of sovereign debt issued by many governments. Foreign treasury bills
should be reported as security type 9 (unstripped bond or note and all other non- asset-backed debt).
UNITED STATES – The fifty (50) States of the United States, the District of Columbia, the Commonwealth of
Puerto Rico, the Commonwealth of the Northern Mariana Islands, and the following: American Samoa, Baker
Island, Guam, Howland Island, Jarvis Island, Johnston Atoll, Kingman Reef, Midway Islands, Navassa Island,
Palmyra Atoll, the U.S. Virgin Islands, and Wake Island.
UNIT INVESTMENT TRUST – A fixed portfolio of securities that are assembled by an underwriter sponsor and
upon completion of the underwriting, are deposited with an independent trustee. Unit investment trusts have a
definite termination date, usually between 6 months and 10 years. U.S. ownership of shares of foreign-resident
unit investment trusts are reported as fund shares (security type = 3), regardless of the types of securities in
held by the trust. Foreign securities held in U.S.-resident unit investment trusts should also be reported. (See
Section III.0 for the correct reporting of unit investment trusts.)
U.S. RESIDENT – Any individual, corporation, or other entity incorporated or legally established in the United
States, including branches, subsidiaries and affiliates of foreign entities located in the United States.
Corporations incorporated in the United States are considered to be U.S. residents even if they have no
"physical presence" in the United States.
U.S.-RESIDENT CUSTODIAN – A custodian that is resident in the United States, including a
U.S.-resident affiliate of a foreign custodian.
U.S.-RESIDENT END-INVESTOR – An entity that is resident in the United States, including a U.S. affiliate of a
foreign end-investor, that either invests for its own account (for trading, investment and other purposes) or on
behalf of others, including managed accounts and asset pools. U.S.-resident end-investors include managers of a
mutual fund, managers of assets held for insurance company policyholders, and managers of pension and
endowment funds.

51

ZERO-COUPON BOND – Bonds that do not provide interest payments. Zero coupon bonds usually have an
issue price well below 100% of the face value with repayment on maturity at face value or par. The investors'
return is the difference between the issue price and redemption value. These securities are reported as security
type 8 (zero coupon & stripped security).

52