15218 Federal Register / Vol. 62, No. 61 / Monday, March 31, 1997 / Notices

Type of Review: Extension.

Affected Public: Business or other forprofit.

Estimated Number of Respondents:

75.

Estimated Time Per Respondent:

Varies, depending on individual

circumstances, with an average of 10

hours.

Estimated Total Annual Burden

Hours: 750.

Request for Comments

Comments submitted in response to

this Notice will be summarized and/or

included in the request for OMB

approval. All comments will become a

matter of public record. Comments are

invited on:

(a) Whether the collection of

information is necessary for the proper

performance of the functions of the

agency, including whether the

information shall have practical utility;

(b) The accuracy of the agency’s

estimate of the burden of the collection

of information;

(c) Ways to enhance the quality,

utility, and clarity of the information to

be collected;

(d) Ways to minimize the burden of

the collection on respondents, including

through the use of automated collection

techniques or other forms of information

technology;

(e) Estimates of capital or start-up

costs and costs of operation,

maintenance, and purchase of services

to provide information.

Dated: March 25, 1997.

Kirsten S. Moy,

Director, Community Development Financial

Institutions Fund.

[FR Doc. 97–8003 Filed 3–28–97; 8:45 am]

BILLING CODE 4810–70–M

Proposed Collection; Comment

Request

AGENCY: Economic Policy, Treasury.

ACTION: Notice and request for

comments.

SUMMARY: By this notice the Treasury

Department invites public comment on

a proposed information collection. The

full title of the information collection is

‘‘Outbound Portfolio Investment Survey:

Survey of U.S. Ownership of Foreign

Long-Term Securities’’.

DATES: Written comments should be

received by June 1, 1997.

ADDRESSES: Comments should be

directed to: U.S. Treasury Department,

1500 Pennsylvania Ave. NW., Room

5466, Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT:

Request for additional information or

copies of the forms and instructions

should be addressed to William Griever

at the above address or by calling (202)

622–0729.

SUPPLEMENTARY INFORMATION:

Abstract: These forms are used to

conduct periodic surveys of U.S.

holdings of foreign long-term securities

for portfolio investment purposes. These

data are used for policy analysis, and

are major inputs into the computation of

the U.S. balance of payments account

and international investment position.

The previous such survey was

conducted as of March 31, 1994, and

clearly demonstrated the need for such

periodic surveys by significantly

altering the estimated level of U.S.

holdings of foreign long-term securities.

This survey is also part on an

internationally-coordinated effort under

the auspices of the International

Monetary Fund to improve data in this

area worldwide. These data are believed

to be in serious error on a worldwide

basis. Most of the major industrial and

financial countries will be participating

in this survey.

Current Actions: Forms will be

reduced from five to three, the

instructions will be simplified and

greatly reduced, and fewer overall data

items will be collected. Data will be

collected primarily from custodians of

securities, and from major investors if

they do not employ U.S. custodians.

Investors employing U.S. custodians

need only identify their custodians and

the amounts entrusted to them.

Type of Review: Reinstatement with

change.

Affected Public: Business/Financial

Institutions.

Estimated Number of Respondents:

2,500.

Estimated Time per Respondent: 240

hours on average for reporters supplying

detailed information. 40 hours on

average for reporters employing U.S.

custodians. 16 hours on average for

reporters claiming exemptions.

Custodians with less than $20 million in

foreign long-term securities in custody

or investors owning less than $20

million in foreign long-term securities

are exempt from reporting on the

survey. The amount of time required to

complete the survey will vary

depending on the amount of data to

report.

Estimated Total Burden: 147,500

hours.

Frequency of Response:

Approximately once every five years.

Comments: Comments submitted in

response to this notice will be

summarized and/or included in the

request for Office of Management and

Budget approval. All comments will

become a matter of public record.

Comments are invited on: (a) Whether

the collection of information is

necessary for the proper performance of

the functions of the agency, including

whether the information shall have

practical utility; (b) the accuracy of the

agency’s estimate of the burden of the

collection of information; (c) ways to

enhance the quality, utility, and clarity

of the information to be collected; (d)

ways to minimize the burden of the

collection of information on

respondents, including through the use

of automated collection techniques or

other forms of information technology;

and (e) estimates of capital or start-up

costs of operation, maintenance and

purchase of services to provide

information.

Joshua Gotbaum,

Assistant Secretary for Economic Policy.

[FR Doc. 97–8012 Filed 3–28–97; 8:45 am]

BILLING CODE 4810–25–M

Submission to OMB for Review;

Comment Request

March 17, 1997.

The Department of Treasury has

submitted the following public

information collection requirement(s) to

OMB for review and clearance under the

Paperwork Reduction Act of 1995,

Public Law 104–13. Copies of the

submission(s) may be obtained by

calling the Treasury Bureau Clearance

Officer listed. Comments regarding this

information collection should be

addressed to the OMB reviewer listed

and to the Treasury Department

Clearance Officer, Department of the

Treasury, Room 2110, 1425 New York

Avenue, NW., Washington, DC 20220.

Internal Revenue Service (IRS)

OMB Number: 1545–0957.

Form Number: IRS Form 8508. .

Type of Review: Revision

Title: Request for Waiver From Filing

Information Returns on Magnetic Media.

Description: Certain filers of

information returns are required by law

to file on magnetic media. In some

instances, waivers from this

requirement are necessary and justified.

Form 8508 is submitted by the filer and

provides information on which IRS will

base its waiver determination.

Respondents: Business or other forprofit.

Estimated Number of Respondents:

1,000.

Estimated Burden Hours Per

Respondent: 45 minutes.

Frequency of Response: On occasion.