2492 Federal Register / Vol. 83, No. 11 / Wednesday, January 17, 2018 / Notices 

[FR Doc. 2018–00673 Filed 1–16–18; 8:45 am] 

BILLING CODE 4910–9X–C 

DEPARTMENT OF THE TREASURY 

Proposed Collection; Comment 

Request 

AGENCY: Departmental Offices; 

Department of the Treasury. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork burdens, invites 

the general public and other Federal 

agencies to comment on the revision of 

an information collection that is to be 

proposed for approval by the Office of 

Management and Budget. The Office of 

International Affairs of the Department 

of the Treasury is soliciting comments 

concerning Treasury International 

Capital Form SLT, Aggregate Holdings 

of Long-Term Securities by U.S. and 

Foreign Residents. 

DATES: Written comments should be 

received on or before March 19, 2018 to 

be assured of consideration. 

ADDRESSES: Direct all written comments 

to Dwight Wolkow, International 

Portfolio Investment Data Systems, 

Department of the Treasury, Room 5422, 

1500 Pennsylvania Avenue NW, 

Washington, DC 20220. In view of 

possible delays in mail delivery, please 

also notify Mr. Wolkow by email 

(comments2TIC@treasury.gov), FAX 

(202–622–2009) or telephone (202–622– 

1276). 

FOR FURTHER INFORMATION CONTACT: 

Copies of the proposed forms and 

instructions are available on the 

Treasury’s TIC Forms web page, https:// 

www.treasury.gov/resource-center/datachart-center/tic/Pages/forms-slt.aspx. 

Requests for additional information 

should be directed to Mr. Wolkow. 

SUPPLEMENTARY INFORMATION: Title: 

Treasury International Capital Form 

SLT, Aggregate Holdings of Long-Term 

Securities by U.S. and Foreign 

Residents. 

OMB Control Number: 1505–0235. 

Abstract: Form SLT is part of the 

Treasury International Capital (TIC) 

reporting system, which is required by 

law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 

10033; 31 CFR 128), and is designed to 

collect timely information on 

international portfolio capital 

movements. Form SLT is a monthly 

report on cross-border portfolio 

investment in long-term marketable 

securities by U.S. and foreign residents. 

This information is used by the U.S. 

Government in the formulation of 

international financial and monetary 

policies and for the preparation of the 

U.S. balance of payments accounts and 

the U.S. international investment 

position. 

Current Actions: No changes in the 

form are being proposed at this time. 

The proposed changes in the 

instructions are: 

(1) The section II.A ‘‘Who Must 

Report,’’ the section II.F ‘‘What Must Be 

Reported,’’ and the section II.G.1 ‘‘How 

to Report’’ of the instructions are 

updated to list out separately ‘‘certain 

private funds’’, which are a subgroup of 

the class of financial entities defined by 

the Securities and Exchange 

Commission as private funds on Form 

PF: ‘‘any issuer that would be an 

investment company as defined in 


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Federal Register / Vol. 83, No. 11 / Wednesday, January 17, 2018 / Notices 2493 

section 3 of the Investment Company 

Act of 1940 but for section 3(c)(1) or 

3(c)(7) of . . . [that] Act.’’ In 

cooperation with the Bureau of 

Economic Analysis (BEA), effective for 

TIC reports beginning as of January 1, 

2017 and afterwards, reporters of 

investments in private funds that meet 

the definition of direct investment (that 

is, ownership by one person of 10 

percent or more of the voting interest of 

a business enterprise) but display 

characteristics of portfolio investment 

(specifically, investors who do not 

intend to control or influence the 

management of an operating company) 

are required to report through the 

Treasury International Capital (TIC) 

reporting system, where other related 

portfolio investments are already being 

reported, and not to report on BEA’s 

direct investment surveys. Specifically, 

cross-border investments by or into 

private funds are included in TIC 

reports regardless of ownership share if 

they meet BOTH of the following 

criteria: (i) The private fund does not 

own, directly or indirectly through 

another business enterprise, an 

‘‘operating company’’—i.e., a business 

enterprise that is not a private fund or 

a holding company—in which the U.S. 

or foreign parent owns at least 10 

percent of the voting interest, and (ii) If 

the private fund is owned indirectly 

(through one or more other business 

enterprises), there are no ‘‘operating 

companies’’ between the U.S. or foreign 

parent and the indirectly-owned private 

fund. Direct investment in operating 

companies, including investment by 

and through private funds, will 

continue to be reported to BEA. 

Guidance on the decision to report 

investments in certain private funds or 

between entities of certain private funds 

in the TIC system or in BEA surveys can 

be found at: https://www.bea.gov/ 

privatefunds; use the tools labeled ‘‘U.S. 

Investments in Foreign Private Funds’’ 

and ‘‘Foreign Investments in U.S. 

Private Funds.’’ This change aligns the 

U.S. direct investment and portfolio 

investment data more closely with the 

intent of the investment with respect to 

management control. In addition, it 

reduces the burden for respondents, 

many of whom previously reported both 

to the TIC reporting system and to 

BEA’s direct investment reporting 

system. This change in reporting was 

effective January 1, 2017; this update 

will formalize the reporting 

requirements. Note: This change applies 

also to these other TIC forms if the 

reporting requirements of the form are 

met: BC, BL–1, BL–2, BQ–1, BQ–2, BQ– 

3, D, S, SHC(A) and SHL(A). 

(2) The section II.A ‘‘Who Must 

Report’’ of the instructions is updated to 

list out separately ‘‘principal trading 

firms’’ and ’’fund administrators.’’ 

(3) The section II.A ‘‘Who Must 

Report’’ and section II.B ‘‘Consolidation 

Rules’’ of the instructions are updated to 

list out separately Intermediate Holding 

Companies (IHCs), as defined by 

Regulation YY, 12 CFR 252, and to 

clarify that IHCs should follow the same 

consolidation rules that are applicable 

to Bank Holding Companies (BHCs), 

Financial Holding Companies (FHCs), 

and Savings and Loan Holding 

Companies. Regulation YY was effective 

by January 1, 2015, and IHCs are filing 

TIC reports; this update will formalize 

their reporting requirements. 

(4) The section II.F.2 ‘‘What Must Be 

Reported’’ of the instructions is updated 

to clarify that, regarding securities 

involved in security lending agreements 

and repurchase/resale (reverse 

repurchase) agreements, sales of the 

underlying security collateral to other 

parties and the purchases of such 

securities from other parties, undertaken 

in order to return the security collateral 

to the lenders, must be reported. 

(5) The section IV.C.1 columns 1 & 2 

‘‘Column by Column Instructions’’ of 

the instructions is updated to clarify 

that the stripped securities ‘‘teddy 

bears’’ (TBRs), ‘‘tigers’’ (TIGRs), ‘‘cats’’ 

(CATS) and ‘‘cougars’’ (COUGRs) 

should also be classified as U.S. 

Treasury securities. 

(6) The section II.F.2 ‘‘What Must Be 

Reported’’ clarifies that long-term 

Treasury securities are 

Bonds, Notes, TIPS, FRNs and 

Savings Bonds. 

(7) Some other clarifications and 

format changes may be made to improve 

the instructions. 

Type of Review: Revision of a 

currently approved collection. 

Affected Public: Business or other forprofit organizations. Form SLT (1505– 

0235). 

Estimated Number of Respondents: 

408. 

Estimated Average Time per 

Respondent: Average 8.8 hours per 

respondent per filing. The estimated 

average burden per respondent varies 

widely, from about 17 hours per filing 

for a U.S.-resident custodian filing Part 

A and Part B to about 6.5 hours for a 

U.S.-resident issuer or U.S.-resident 

end-investor filing Part B. 

Estimated Total Annual Burden 

Hours: 42,912 hours, based on 12 

reporting periods per year. 

Request for 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. The 

public is invited to submit written 

comments concerning: (a) Whether 

Form SLT is necessary for the proper 

performance of the functions of the 

Office, including whether the 

information will have practical uses; (b) 

the accuracy of the above estimate of the 

burdens; (c) ways to enhance the 

quality, usefulness and clarity of the 

information to be collected; (d) ways to 

minimize the reporting and/or record 

keeping burdens on respondents, 

including the use of information 

technologies to automate the collection 

of the data; and (e) estimates of capital 

or start-up costs of operation, 

maintenance and purchase of services to 

provide information. 

Dwight Wolkow, 

Administrator, International Portfolio 

Investment Data Reporting Systems. 

[FR Doc. 2018–00674 Filed 1–16–18; 8:45 am] 

BILLING CODE 4810–25–P 

DEPARTMENT OF VETERANS 

AFFAIRS 

Health Services Research and 

Development Service, Scientific Merit 

Review Board; Notice of Meetings 

The Department of Veterans Affairs 

(VA) gives notice under the Federal 

Advisory Committee Act the Health 

Services Research and Development 

Service Scientific Merit Review Board 

will conduct in-person and 

teleconference meetings of its eleven 

Health Services Research (HSR) 

subcommittees on the dates below from 

8:00 a.m. to approximately 4:30 p.m. 

(unless otherwise listed) at the FHI 360, 

1825 Connecticut Ave. NW, 

Washington, DC 20009 (unless 

otherwise listed): 

• HSR 0—Community Care on March 

13, 2018; 

• HSR 1—Health Care and Clinical 

Management on March 13–14, 2018; 

• HSR 2—Behavioral, Social, and 

Cultural Determinants of Health and 

Care on March 13–14, 2018; 

• HSR 3—Healthcare Informatics on 

March 16, 2018; 

• HSR 4—Mental and Behavioral 

Health on March 15–16, 2018; 

• HSR 5—Health Care System 

Organization and Delivery on March 

15–16, 2018; 

• HSR 6—Post-acute and Long-term 

Care on March 14, 2018; 

• MRA 0—Mentored Research on 

March 16, 2018; 

• HSR 8—Implementation Research 

Project on March 13, 2018; 


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