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US Treasury Extends International Derivatives Reports
Practical Law Legal Update 9-616-3345 (Approx. 2 pages)
US Treasury Extends International Derivatives Reports
by Practical Law Finance
| Published on 05 Jun 2015 • USA (National/Federal) |
The Treasury Department extended the use of Treasury International Capital (TIC) Form D in order to continue information collection on US international portfolio capital positions.
On May 29, 2015, the US Treasury Department further extended quarterly reporting of the cross-border positions of large derivatives users on Treasury International Capital (TIC) Form D in order to collect further information on US international portfolio capital positions for an additional three years. TIC Form D must be filed quarterly by all entities resident in the United States that have derivatives contracts that exceed either of the following metrics:
- The total notional value of worldwide holdings of derivatives for the reporter's own account exceeds $400 billion.
- The amount reported by a TIC D reporter for grand total net settlements exceeds $400 million (either a positive or negative value).
According to the Federal Reserve Bank of New York, bank holding companies (BHCs), brokers and dealers, commercial banks and US branches and agencies of foreign banks are all required to file TIC Form D. TIC Form D is part of the TIC reporting system, which provides timely information on international capital movements other than direct investments by US persons. This information is used to:
- Compile US balance-of-payments accounts and international investment positions.
- Formulate US international financial and monetary policies.
For more information, see Legal Update, US Treasury Extends Quarterly Reporting for Large Derivatives Users.