(REVISED 4-25-2013) The Effective Date is changed to DECEMBER 2013, from June 2013, for the revision of the country list [FYI: This is the 2nd change; it supersedes the March 27 change of the effective date to September 2013.]:
- There is no federal register notice for this update of the country list. The revision of the country list for all TIC reporting forms will become effective for reports as of December 2013 and afterwards.
- UPCOMING new Form SLT (effective for reports as-of December 2013 and thereafter) -- Aggregate Holdings of Long-Term Securities by U.S. and Foreign Residents.
- There are no changes to the instructions. The following is more information on the new lists of countries and foreign official institutions:
-- Geographical Classification (revised for December 2013) with codes for foreign countries, areas, and organizations.
-- Selected foreign official institutions (revised for December 2013).
Current Form SLT and Instructions Now in Effect (in effect for reports as-of September 2011 through November 2013):
- NEW (8-4-2011) FAQs for Form SLT.
- NEW (8-4-2011) Reporting Responsibilities Flowcharts.
- The Federal Register Notice of June 2011 notified the start of the mandatory report.
(6-27-2011) SLT reporting will begin with the report as of September 30, 2011, instead of June 30 as originally proposed. Thus there will be two quarterly reports as of September 30 and December 31, 2011, and then reporting will change to a monthly basis beginning with the report as-of January 31, 2012. OMB approved the data collection in June 2011.
- The Federal Register Notice of August 2010 announced the proposed new Form SLT.
The Federal Reserve Bank of New York held a seminar on April 5, 2011, to train reporters how to correctly complete the new TIC SLT positions report. You may view the webcast of the seminar
, and also down load the items handed out at the seminar
, until October 20, 2011.
-- Key topics were: Why the new report is needed; Who should report (U.S. custodians; U.S. end-investors, including investment managers, pension funds and foundations; and issuers of U.S. securities); Consolidation rules and exemption levels; How to determine the residence of the issuer or holder; What types of securities should be reported and how they should be reported; Electronic submission of the report.
Description of Form SLT:
The TIC Form SLT is part of the Treasury International Capital (TIC) data reporting system, which is required by law (22 U.S.C. 286f; 22 U.S.C. 3103; E.O. 10033; 31 C.F.R. 128), and is designed to gather timely and reliable information on long-term U.S. securities held by foreign residents and long-term foreign securities held by U.S. residents. This information will be used by the U.S. Government in the formulation of U.S. international financial and monetary policies and for the preparation of the U.S. balance of payments accounts and the U.S. international investment position.
Who Reports on Form SLT:
U.S.-resident custodians of securities, U.S.-resident issuers of long-term U.S. securities, and U.S.-resident end-investors in long-term foreign securities. These include banks, other depository institutions, securities brokers and dealers, investors, nonbanking business enterprises, funds, investment managers and other entities in the U.S. who deal with cross-border holdings of long-term securities. (In the instructions, see General Instructions, Sections A, B and C on "Who Must Report" for more details.)