Completion of Foreign Currency Forms
FC-1 (1505-0012), FC-2 (1505-0010), and FC-3 (1505-0014), to be
filed by major market participants, is required under Title II of
Public Law 93-110 (87 Stat. 352, 31 U.S.C. 5315), and implementing
regulations. The data collected on Foreign Currency Forms FC-1,
FC-2 and FC-3 are used in connection with supplemental information
from other sources to better understand the sources and nature of
mobile capital flows which can have a significant impact on the
functioning of the international monetary system. Aggregate data
from these forms are published quarterly in the “Foreign Currency
Positions” section of the Treasury Bulletin. Data reported by
individual firms may be made available to other Federal agencies
and to the Federal Reserve District Banks. Data are made available
to the Federal Reserve System for analysis of market forces to aid
in the formulation and implementation of U.S. monetary policy and
operations in foreign exchange markets. In addition, data reported
by individual banks may be made available to the Federal Reserve
Board insofar as authorized by Section 11(a) of the Federal Reserve
Act, as amended (12 U.S.C. 248(a)(2)).
Statute at
Large: 87
Stat. 352 Name of Statute: null
US Code: 31
USC 5315 Name of Law: Title II of Public Law 93-110
The increases in total burden
hours of 208 hours for Form FC-1 and 216 hours for Form FC-2 are
entirely the result of increases in the number of respondents. The
decrease of 64 hours for Form FC-3 is entirely the result of a
decrease in the number of respondents. The estimates of total
burden hours currently carried in OMB's Information Collection
Inventory are 1,040 for Form FC-1, 1,080 for FC-2, and 1,728 for
FC-3. This ICR also shows an increase due to the consolidation of
all three TFC forms into a single ICR. Currently, FC-1 and FC-3 are
covered by separate ICRs (1505-0012 & 1505-0014, respectively).
Upon approval of this consolidated ICR, those two OMB control
numbers will be discontinued.
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:
(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;
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.
Form FC-3 Quarterly Consolidated Foreign Currency Report (FC-3)
1505-0010 Supporting Statement A&B 2017-11.docx
31C.F.R.5315etal.txt
Quarterly Consolidated Foreign Currency Report (FC-3)