Quarterly Consolidated Foreign Currency Report

Forms and Documents

Document Name	Status
1505-0014_supporting_statement_20140603.doc Supporting Statement A	2014-06-03

IC Document Collections

IC ID	Document Title	Status
15078	Quarterly Consolidated Foreign Currency Report Instruction	Modified

ICR Details

OMB Control No: 1505-0014	ICR Reference No: 201405-1505-003
Status: Historical Active	Previous ICR Reference No: 201104-1505-006
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Quarterly Consolidated Foreign Currency Report
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 08/04/2015
	Date Received in OIRA: 06/18/2014
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	08/31/2018	36 Months From Approved	08/31/2015
Responses	216	0	152
Time Burden (Hours)	1,728	0	1,216
Cost Burden (Dollars)	0	0	0

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Abstract: Collection of information on Form FC-3 is required by law. Form FC-3 is designed to collect timely information on foreign exchange contracts purchased and sold; foreign exchange futures purchased and sold; foreign currency denominated assets and liabilities; foreign currency options and net delta equivalent value.

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

Citations for New Statutory Requirements: None

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

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 8538	02/12/2014
30-day Notice:	Federal Register Citation:	Citation Date:
	79 FR 30235	05/27/2014
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Quarterly Consolidated Foreign Currency Report	FC-3	Quarterly Consolidated Foreign Currency Report

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	216	152	0	0	64	0
Annual Time Burden (Hours)	1,728	1,216	0	0	512	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to:

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

Burden Reduction Due to:

Short Statement: The increases in total burden hours of 125 hours for FC-1, 130 hours for FC-2, and 512 hours for FC-3, are entirely the result of increases in the number of respondents, as compared to the estimates of total burden hours currently carried in OMB's Information Collection Inventory of 915 for FC-1, 950 for FC-2, and 1,216 for FC-3.

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Annual Cost to Federal Government: $40,109

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

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

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

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

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

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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

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

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

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

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

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

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

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

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

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

(v) Nature and extent of confidentiality; and

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

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

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

(j) It makes appropriate use of information technology.

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

Certification Date: 06/18/2014

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