WELCOME TO THE TREASURY INTERNATIONAL CAPITAL
(TIC) REPORTS SEMINAR
NOVEMBER 13, 2002
TIC GENERAL OVERVIEW
ORIGINS
The Treasury International Capital (TIC) Reporting System originated in 1934 to provide U.S. government data on U.S. international portfolio investment and capital movements
PURPOSE
Balance of Payments– Statistical statement that summarizes economic transactions
for an economy with the rest of the world• Current Account
– (e.g., goods, services, income)• Capital Account
– (non-produced, non-financial assets)• Financial Account
– (U.S. Reserves, Direct Investment, Portfolio Investment)
PURPOSE
U.S. International Investment Position– Net International Investment Position
Monetary and Fiscal Policies– Assessments of the U.S. economy– Money and credit aggregates– Debt aggregates– Monitoring banks’ operations and competitiveness– Exposure to country risk
PURPOSE
Economic Analysis– Financial account analysis
– Capital markets analysis
– Country analysis
PUBLICATIONS OF TIC DATA
Treasury Bulletin– Published quarterly by the U.S. Department of Treasury
Federal Reserve Bulletin– Published monthly by the Federal Reserve Board
Survey of Current Business– Published monthly by the Dept. of Commerce, Bureau of
Economic Analysis International Financial Statistics
– Published monthly by the IMF
PUBLICATIONS OF TIC DATA
TIC WEB SITE– http://www.ustreas.gov/tic/
– Monthly time series, by country, updated on the last business day each month on a two month lag:
• Banking liabilities and claims positions by major category
• International securities transactions
• Net foreign purchases of long-term U.S. Treasury issues, by major foreign sector
• Estimated “Major Foreign Holders of U.S. Treasury Securities”
RELATIONSHIP TO OTHER REPORTS
Foreign Holdings of U.S. Securities, Including Selected Money Market Instruments
(Form SHL) U.S. Ownership of Foreign Securities, Including
Selected Money Market Instruments (Form SHC)
Treasury Foreign Currency (TFC) Forms Direct Investment Forms
REPORT SERIES
TIC B Forms (BC, BC (SA), BL-1, BL-1(SA), BL-2, BL-2 (SA), BQ-1, BQ-2 and BQ-3)– Reports by Depository Institutions, by Bank Holding
Companies/Financial Holding Companies (BHCs/FHCs), and Securities Brokers/Dealers of Liabilities to, and Claims on, Foreign Residents by U.S. Residents
– Monthly, Quarterly and Semiannual reports
REPORT SERIES
TIC C Forms (CQ-1 and CQ-2)– Reports for U.S. Residents Other than Depository Institutions
and Securities Brokers/Dealers on Liabilities to, and Claims on, Foreign Residents
– Quarterly reports
TIC S Form – Report of Purchases and Sales of Long-term Securities by
Foreigners– Monthly report
REASON FOR CHANGES
To meet new and expanded international standards for reporting data on portfolio flows to the International Monetary Fund (IMF)
To reduce reporting burden To clarify reporting instructions To improve the quality of the data by closing
data gaps
EFFECTIVE DATES OF CHANGE
All monthly TIC B and TIC S report series are effective with the February 2003 as-
of date All quarterly TIC B and TIC C report series are
effective with the March 2003 as-of date
All semiannual TIC B report series are effective with the June 2003 as-of date
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
Overall Changes Depository institutions, BHC/FHCs and brokers and
dealers will report most cross-border positions with affiliates (including affiliates of their parent) by type of counterparty and instrument
The scope of reportable claims and liabilities has been expanded to include all positions in covered instruments– permanent capital
– unrealized gains and losses
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
The scope of customers’ positions has been expanded to include non-traditional custody items
Combining claims on foreign official institutions with claims on foreign banks
Including claims/liabilities to own foreign offices either with foreign banks or all other foreigners, and in
a separate memorandum column
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
Combining short-term U.S. agency obligations and other negotiable and readily transferable
instruments Eliminating BQ-1, Part 1, Reporter’s Own Claims
(maturity information) Memorandum cells to capture customers’ liabilities by
sector of U.S. debtor and types of instruments
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
“Of Which” Memorandum Items – Negotiable CDs and other short-term negotiable
securities (BC)
– Non-interest bearing liabilities (BL-1)
– Commercial paper and claims of U.S. banks (BQ-1)
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
New Report Form – The BQ-3 will be required for those reporters with $4 billion
or more in reportable liabilities (excluding securities) as reported on the BL-1 or BQ-2
CHANGES TO THE TIC BANKING FORMS
(Effective Feb. 2003)
Mapping of Current Forms to New Forms (Exhibit 1)
TIC B GENERAL
INSTRUCTIONS
WHO MUST REPORT
Depository institutions including– Commercial banks– U.S. branches and agencies of foreign banks– Trust companies that conduct commercial banking business– Industrial banks, private or unincorporated banks– Banking Edge Acts and Agreement corporations– New York State Article XII corporations– Mutual or stock savings banks– Non-deposit and limited purpose companies– Non-bank banks
WHO MUST REPORT
Securities brokers/dealers, regardless of their affiliations with other entities
Bank Holding Companies (BHCs) and Financial Holding Companies (FHCs)
Depository Institutions
Securities Brokers/Dealers
BHCs / FHCs
DistrictFRB FRBNY
CONSOLIDATION RULES HOW TO FILE
FORMS
BC/BC (SA) - Report of U.S. Dollar Claims of Depository Institutions, Bank Holding
Companies/Financial Holding Companies, Brokers, and Dealers on Foreigners
BL-1/BL-1 (SA) - Report of U.S. Dollar Liabilities of Depository Institutions, Bank Holding
Companies/Financial Holding Companies, Brokers, and Dealers to Foreigners
FORMS
BL-2/BL-2 (SA) - Report of Customers’ U.S. Dollar Liabilities to Foreigners
BQ-1 - Report of Customers’ U.S. Dollar Claims on Foreigners
new
FORMS
BQ-2
Part 1 - Report of Foreign Currency Liabilities and Claims of Depository Institutions, Bank Holding Companies/Financial Holding Companies, Brokers and Dealers, and of their Domestic Customers vis-à-vis Foreigners
Part 2 - Report of Customers’ Foreign Currency Liabilities to Foreigners
new
FORMS
BQ-3
Report of Maturities of Selected Liabilities of Depository Institutions, Bank
Holding Companies/Financial Holding Companies, Brokers, and Dealers to Foreigners
DATES
Form
BC, BL-1, BL-2
BQ-1, BQ-2, BQ-3
BC (SA), BL-1 (SA),
BL-2 (SA)
Due Date
No later than the 15th calendar day of the following month
No later than the 20th calendar day of the following month
No later than the 30th calendar day of the following month
As of Date
Last business day of each month
Last business day of March, June, September and December
Last business day of June and December
EXEMPTION LEVEL S
Applies to the consolidated reportable claims and liabilities
Once the exemption level is exceeded, reports must continue to be submitted for the remainder of the calendar year
EXEMPTION LEVELS
Form Grand Total of all Individual Country
Geographic areas Data
(Row 9999-6) (Any Country Row) BC$50 Million $25 Million
BL-1 $50 Million $25 Million
BL-2 $50 Million $25 Million
BQ-1 $50 Million $25 Million
BQ-2, Part 1 $50 Million $25 Million
BQ-2, Part 2 $50 Million N/A
new
EXEMPTION LEVELS
Form Total reported data on Forms BL-1 and BQ-2, Part 1, Columns 1 and 2
Geographical Areas (Row 9999-6)
BQ-3 $4 Billion
new
DATA SUBMISSION
Reporters’ Information– The RSSD ID and name of reporting entity must be entered in
the space provided on each page of the report form
Alternative Methods of Reporting– Electronically via Internet Electronic Submission System
(IESUB)– Typed or handwritten in ink– Computer generated with prior written approval from the
responsible Federal Reserve Bank
DATA SUBMISSION
Signature Requirement– Hard Copy
• Report forms must be signed by an authorized officer of the reporting institution
– Electronic filers• Signature page should be retained by the reporter
– Methods of Submission• Mail• Fax• Hand delivered
MAINTAINING DATA RECORDS
Record/Report Retention– Reports must be retained for 3 years from the date of
submission
TIC B COMMON
REPORTING ELEMENTS
GENERAL ACCOUNTING ISSUES
Report gross, using settlement date accounting Report in millions of U.S. dollars at the face
value of the instrument Report the U.S. dollar equivalent of foreign
currency denominated transactions converted by using the spot exchange rate on the as of date of the report
GENERAL ACCOUNTING ISSUES
This differs from the S report for which securities are reported at cost regardless of any discounts or premiums
Do not report decimals or negative values in any cell
GENERAL ACCOUNTING ISSUES
Treatment of Charge-offs, Reserves and Write-offs:– Deduct from reportable claims any charge-offs or
specific reserves (Do not reduce claims by general or valuation reserves)
– Report the amount of the charge-off, including the specific reserves, on the BC (Row 8200-9), in the initial reporting period when established
DEFINITIONS
United States– The fifty states and the District of Columbia
– The Commonwealth of Puerto Rico and the Northern Mariana Islands
– U.S. territories
DEFINITIONS
Location of Foreign Counterparty– The positions should be reported opposite the location in
which the direct counterparty resides, not the location of the guarantor, currency of denomination or the nationality of the counterparty
DEFINITIONS
Example– A respondent has a reportable claim on Cayman Islands
branch of a U.S. bank. The claim should be reported opposite the location in which the direct counterparty resides (Cayman Islands), not the location of that bank’s head office (United States)
DEFINITIONS
Exceptions– Branches or agencies of Foreign Official Institutions
– Bank for International Settlements (BIS)
– Red Cross and The Institute of International Finance
– International and multi-national regional organizations
DEFINITIONS Foreign Resident
– Any individual/entity located outside the United States
– Any entity incorporated or chartered outside the U.S, even if it has no physical presence outside the United States
Include
• Foreign governments and any subdivision or agency
• Entities that have filed an IRS Form W-8
• Branches, subsidiaries and other affiliates of U.S. entities located abroad
Exception: International, Regional or affiliated agencies thereof, created by treaty or convention between sovereign states, even if located in the U.S. are also considered foreign
DEFINITIONS
Own Foreign Offices– Reporter’s own offices located outside the U.S. (banking and
non-banking)
– Foreign-located head office/parent
– Foreign banking subsidiaries of your head office/parent bank
– Exclude
• Foreign-located affiliated banks and non-banking subsidiaries of your foreign head office/parent
Note: Follow the FR 2950/2951 rules not the Call Report rules
RELATIONSHIP CHART FOR REPORTING TIC OWN
FOREIGN OFFICE
FOREIGN BHC
Do Not Include withOwn Foreign Offices
FOREIGN PARENT BANK
Include with Own Foreign Offices
NYBANKING
BRANCH/IBF
TOKYONONBANKING
OFFICE
MADRIDBANKING BRANCH
ROMEBANKINGBRANCH
LONDONNONBANKING
OFFICE
TIC REPORTER
Include with OwnForeign Offices
Do Not Include with Own Foreign Offices
Include with Own Foreign Offices
DEFINITIONS
Brokerage Balances– Cash balances
• held by U.S residents in brokerage and margin accounts with foreigners (liability)
• held by foreign residents in brokerage and margin accounts at U.S. resident entities (claim)
– Reported gross
– Represent funds that are freely withdrawn or held to support positions in futures, securities or other financial instruments
DEFINITIONS
Credit Balances– Liabilities to a third party that are incidental to, or that arise
from, the exercise of banking powers, including the payment of checks and lending money
– Must be no larger than necessary for the specific transaction
– Reported as deposits on the BL-1
– Reported as demand deposits on the BQ-3
DEFINITIONS
Repurchase Agreements– A transaction involving the sale of financial assets by one
party to another, subject to an agreement by the seller to repurchase the assets at a specified date or in specified circumstances
Resale Agreement (Reverse Repurchase Agreement)– A transaction involving the purchase of financial assets by
one party from another, subject to an agreement by the purchaser to resell the assets at a specified date or in specified circumstances
TYPES OF HOLDERS
Foreign Banks– All depository institutions (as defined under the laws of the host
country) that are located outside the U.S.
Include
• Commercial and savings banks
• Nationalized banks
• Development banks
• Discount houses
• Reporter’s banking offices located outside the U.S.
• Other banking institutions which are owned by central governments that are not Foreign Official Institutions
TYPES OF HOLDERS
Foreign Official Institutions (FOIs)– Foreign central governments and their corresponding
departments and agencies including
• Treasuries
• Ministries of finance
– Central banks, including development banks performing the functions of a FOI
– Stabilization funds, including
• Official exchange control or other government exchange authorities
TYPES OF HOLDERS
All Other Foreigners– Foreign securities brokers and dealers
– Departments and agencies of foreign state, provincial, and local governments
– Foreign government-sponsored corporations
– Other foreign financial and non-financial corporations, partnerships, or individuals
– Reporter’s non-banking offices and subsidiaries located outside the U.S.
INTERNET ELECTRONIC SUBMISSION
SYSTEM (IESUB)
IESUB - FEATURES
Data Submission (Initial and Revised)– Data Entry– Spreadsheet File Transfer – STAT File Transfer
Data validation Data review Receipt Remarks Feedback
IESUB - SECURITY
Unique User-ID & Password 128- bit Encryption Server-side certificate
IESUB - COMMENTS FROM USERS
User friendly and convenient Time saver Eliminates paper and fax Able to submit reports for multiple DIs to
multiple Reserve Banks Confirmation of receipt Validity checking
DATA ENTRY/SPREADSHEETFILE TRANSFER
Available Forms TIC BC TIC BC (SA ) TIC BL-1 TIC BL-1 (SA) TIC BL-2 TIC BL-2 (SA)
TIC BQ-1TIC BQ-1TIC BQ-2TIC BQ-2TIC BQ-3TIC BQ-3
TIC STIC STIC CQ-1TIC CQ-1TIC CQ-2 TIC CQ-2
new
REPORT FORMS AVAILABLE
STAT FILE TRANSFER FFIEC 002 FFIEC 002S FR 2900 FR 2900Q FR 2950 FR 2951 FR Y-8
FR Y-9C FR Y-9CS FR Y-9ES FR Y-9LP FR Y-9SP FR Y-11I FR Y-11Q FR Y-12
NON-TIC REPORT FORMS AVAILABLE DATA ENTRY/SPREADSHEET FILE
TRANSFER FR 2004A FR 2004B FR 2004C FR 2004SD FR 2004SI FR 2004WI FR 2069 FR 2415W FR 2415Q FR 2415A FR 2416
FR 2644 FR 2900 FR 2900Q FR 2915 FR 2950 FR 2951 FR Y-8 FR Y-9SP FR Y-9ES FR Y-12
FOR MORE INFORMATIONFOR MORE INFORMATION
Visit
IESUB on the Reporting and Reserves
Web Site
http://www.reportingandreserves.org/iesub.html
IESUB Q & A
TIC MONTHLY REPORT
OF CLAIMS
TIC BC
REPORT OF U.S. DOLLAR CLAIMS OF DEPOSITORY
INSTITUTIONS, BANK HOLDING
COMPANIES/FINANCIAL HOLDING COMPANIES,
BROKERS, AND DEALERS ON FOREIGNERS
REPORTABLE CLAIMS
Report U.S. dollar-denominated claims on foreigners unless specifically excluded,
include:– Affiliates
– Own foreign offices (both banking and non-banking)
– Unaffiliated counterparties
REPORTABLE CLAIMS Deposit balances due from banks (including non-
negotiable CDs) Brokerage balances Customers’ overdrawn accounts Loans and loan participations Resale agreements and similar financing agreements Negotiable CDs Short-term negotiable and non-negotiable securities Money market instruments (e.g., commercial paper,
bankers’ acceptances) with an original maturity of one year or less
SPECIFIC EXCLUSIONS
Long-term securities Credit commitments (unused loan commitments) Spot foreign exchange contracts Derivatives
– Forward and future exchange contracts
– Options
– Warrants
SPECIFIC EXCLUSIONS
Precious metals and currencies in transit or held outside the U.S.
Foreign-currency denominated claims Securities borrowing agreements in which one
security is borrowed in return for another
TYPES OF FOREIGN HOLDERS
Foreign Banks and Foreign Official Institutions– (Columns 1, 2 & 3)
All Other Foreigners– (Columns 4 & 5)
TYPES OF INSTRUMENTS
Non-negotiable Foreign Deposits (Column 1) Deposits
– Demand
– Time
– Savings
– Non-negotiable CDs Brokerage balances from foreign banks
TYPES OF INSTRUMENTS
Negotiable CDs and All Short-Term Negotiable
Securities (Columns 2 & 4) Negotiable CDs (Column 2) Negotiable securities (Columns 2 & 4)
TYPES OF INSTRUMENTS
Other (Columns 3 & 5) Loans Funds loaned under resale agreements Non-negotiable securities Brokerage balances due from foreign securities
brokers and dealers
“OF WHICH” COLUMN ITEMS
Foreign Official Institutions (Column 7) Report all claims included in Columns 1 through
3 that are due from Foreign Official Institutions
“OF WHICH” COLUMN ITEMS
Own Foreign Offices (Column 8)
Include
– All claims in Columns 1 through 5 that are due from own foreign offices, both banking and non-banking, including your direct foreign parent and any non-U.S. banking subsidiary or branch
Exclude
– Claims due from other offices of affiliated banks and non-banking subsidiaries of the reporter’s parent, even though they are reportable in Columns 1 through 5
“OF WHICH” COLUMN ITEMS
Resale Agreements (Column 9) Report amounts included in Columns 3 & 5 that
are loaned to foreigners under resale agreements or similar financing agreements. Report them gross ( i.e., no FIN 41 netting)
MEMORANDUM ITEMS “OF WHICH” ROWS
Total IBF Assets Row (8300-3) Report the amounts included in the Grand Total
row (9999-6) which represent claims of your International Banking Facilities (IBFs) on foreigners
Negotiable CDs (8110-8), Column 2 Report the total amount included in the Grand
Total row (9999-6) which represents negotiable CDs issued by foreigners
MEMORANDUM ITEMS “OF WHICH” ROWS
Assets Written Off This Reporting Period
Memorandum Row (8200-9) The amount of charge-offs or specific reserves
for reportable claims, taken partially or entirely, during the reporting period
Only report charge-offs during the period in which they are established
Do not include general reserves
TIC MONTHLY REPORT
OF LIABILITIES
TIC BL-1
REPORT OF U.S. DOLLAR LIABILITIES OF DEPOSITORY
INSTITUTIONS, BANK HOLDING COMPANIES/FINANCIAL HOLDING
COMPANIES, BROKERS, AND DEALERS TO FOREIGNERS
REPORTABLE LIABILITIES
Report all U.S. dollar-denominated liabilities to foreigners:
– Affiliates
– Own foreign offices (both banking and non-banking)
– Unaffiliated counterparties
REPORTABLE LIABILITIES
Non-negotiable deposits Brokerage balances Overdrawn deposit accounts Loans of any maturity (exclude drawn syndicated
loans where there is a U.S administrative agent) Short-term non-negotiable securities Repurchase agreements and similar financing
agreements
SPECIFIC EXCLUSIONS
Long-term securities Negotiable CDs Negotiable short-term securities Contingent liabilities Spot foreign exchange contracts Derivatives
– Future & forward exchange contracts– Options – Warrants
SPECIFIC EXCLUSIONS
Precious metals (e.g., gold, silver) and currencies in transit or held outside the U.S.
Foreign-currency denominated liabilities Securities lending agreements in which one
security is lent in return for another Loans from a foreigner that are serviced by a
U.S. resident
TYPES OF FOREIGN HOLDERS
Foreign Official Institutions (Columns 1 & 2)
Foreign Banks (Columns 3 & 4)
All Other Foreigners (Columns 5 & 6)
TYPES OF INSTRUMENTS
Non-negotiable Deposits and Brokerage Balances
(Columns 1, 3 & 5) Deposits
– Demand
– Time
– Savings
– Non-negotiable CDs Brokerage balances of foreign residents
TYPES OF INSTRUMENTS
Non-negotiable Deposits and Brokerage Balances
(Columns 1, 3 & 5)Exclude
Balances swept into money market funds, government securities funds, or other kinds of mutual funds
TYPES OF INSTRUMENTS
Other Liabilities (Columns 2, 4 & 6) Non-negotiable securities issued by the reporter Loans from foreign counterparties Funds borrowed under repurchase agreements Overdrawn deposit accounts
“OF WHICH” COLUMN ITEMS
Own Foreign Offices (Column 8) Include
– All liabilities in Columns 3 through 6 that are due from own foreign offices, both banking and non-banking,
including your direct foreign parent bank and its non-U.S. banking subsidiaries and branches
Exclude– Depository institution’s liabilities due to offices of other
affiliated banks and to non-banking subsidiaries of the reporter’s parents, even though they are reportable in Columns 3 through 6
“OF WHICH” COLUMN ITEM
Repurchase Agreements (Column 9) Report funds borrowed under repurchase
agreements and similar financing agreements included in Columns 2, 4 & 6. Report them gross ( i.e., no FIN 41 netting)
MEMORANDUM ITEMS “OF WHICH” ROWS
Total IBF Liabilities Row (8300-3) Report the amounts included in the Grand Total
row (9999-6) which represent liabilities of your International Banking Facilities
(IBFs) on foreigners
Repurchase Agreements Row (8400-7) Report the amounts included in the Grand Total
row (9999-6) which represents funds borrowed from foreigners included in columns 2, 4, 6, & 8
MEMORANDUM ITEMS “OF WHICH” ROWS
Non-Interest Bearing Liabilities Row (8130-2) Report non-interest bearing liabilities included in the
Grand Total row (9999-6), columns 1 through 6 regardless of the nature of the instruments
TIC MONTHLY REPORT
OF CUSTODYLIABILITIES
TIC BL-2
REPORT OF CUSTOMERS’ U.S.
DOLLAR LIABILITIES TO FOREIGNERS
REPORTABLE CUSTOMER LIABILITIES
U.S. dollar denominated liabilities of U.S. residents to
foreigners– Custody Items
– Liabilities to Managed Foreign Offices
– Loans Placed Overseas
– Short-term Negotiable Securities
REPORTABLE CUSTOMER LIABILITIES
Custody Items Short-term negotiable and non-negotiable debt
securities Short-term U.S. Treasury securities Short-term securities issued or guaranteed by U.S.
government agencies and federally-sponsored enterprises
Note: Securities that have been temporally “transferred out”under Repurchase/Resale agreements
REPORTABLE CUSTOMER LIABILITIES
Custody Items Negotiable CDs held by the reporter for
foreigners that are issued:– by the reporter or
– another U.S. resident depository institution
Situation 1
A U.S. resident has a liability to a foreign resident in the form of a short-term security or a certificate of deposit (of any maturity)
FLOWCHART 1a - A U.S.-resident custodian is used
Foreign person/investor U.S.-resident custodian
Report on the BL-2 (if U.S. dollar-denominated) or on the BQ-2, Part 2 (if foreign currency-denominated)
Note: The U.S. resident issuer does not report the security or CD on the TIC forms
FLOWCHART 1b -Two U.S.-resident custodians are used
U.S. issuer Foreign person/investor
U.S. institution A that maintains a custodial relationship with U.S. resident custodian B
U.S.-resident institution B that is a custodian for a foreign resident or foreign custodian
Does not report Report on the BL-2 (if U.S. dollar-denominated) or on the BQ-2, Part 2 (if foreign currency-denominated
Note: If multiple U.S. custodians are involved, the U.S. custodian nearest the foreign end-claimant should report.
REPORTABLE CUSTOMER LIABILITIES
Liabilities to Managed Foreign Offices Liabilities of non-bank U.S. residents to managed
foreign offices of the reporter – Managed foreign offices are offices for which a majority of the
responsibility for business decisions, or the responsibility for record-keeping for that foreign office resides at the reporter
(See FFIEC 002s instructions for more information located on the FFIEC website at: http://www.ffiec.gov/ffiec_report_forms.html)
REPORTABLE CUSTOMER LIABILITIES
Loans Placed Overseas Foreign holdings of loans and loan participations
to U.S. residents that are serviced by the reporter
Situation 3
A U.S resident has a loan from a foreigner which is serviced by a TIC B reporter (U.S.-resident BHC/FHC, depository institution, or securities broker or dealer)
FLOWCHART 3 - Responsibility of loan servicing office
U.S. resident borrowerForeign issuer or foreign custodian
U.S. TIC B reporter
Report loans to U.S. residents on the BL-2 (if U.S. dollar-denominated) or on the BQ-2, Part 2 (if foreign currency-denominated) as “Other Customers’ Liabilities.”
Loan
Serviced by:
REPORTABLE CUSTOMER LIABILITIES
Syndicated Loans Liabilities of U.S. residents to foreigners from loan
syndications in which the reporter is the administrative agent– report portion that represents U.S. resident’s U.S. dollar
denominated loan liability to a foreigner only
– report the outstanding amount drawn
Exclude
• unused loan commitments
• loan liabilities in which the administrative agent is foreign
Situation 6
Drawn syndicated loans of U.S. residents held by foreigners
FLOWCHART 6a - A U.S.-resident administrative agent is used
U.S. resident borrower
U.S. Administrative agent
U.S. administrative agent reports on the BL-2 (if U.S. dollar-currency-denominated) or the BQ-2, Part 2 (if foreign currency denominated
Drawn syndicated loan
Foreign lender
FLOWCHART 6b - No U.S.-resident administrative agent is used
U.S. resident borrower
Since no U.S. administrative agent is used, the U.S. borrower reports the liability to foreigners on the BL-1 (or TIC CQ-1 if not a TIC B filer).
Drawn syndicated loan
Foreign lender
REPORTABLE CUSTOMER LIABILITIES
Short-term Negotiable Securities Issued by the reporter directly in a foreign market
where no U.S. custodian (other than the reporter) is used
FLOWCHART 1c - No U.S.-resident custodian is used for a negotiable
instrument
U.S. TIC B issuerForeign-resident person
or custodian
Note: All negotiable securities and negotiable CDs issued directly in a foreign market should be reported in this manner.
Report as a Custodian on the BL-2 (if U.S. dollar-denominated) or on the BQ-2, Part 2 (if foreign currency-denominated)
FLOWCHART 1d - No U.S.-resident custodian is used for a non-negotiable
instrument
U.S. TIC B issuer Foreign-resident person or custodian
Note: On the BL-1, non-negotiable CDs are reported as “non-negotiable deposits” and non-negotiable short-term securities are reported as “other”.
Report as an Issuer on the BL-1 (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated)
SPECIFIC EXCLUSIONS
Long-term securities Precious metals (e.g., gold, silver) and currencies held
in reporters’ vaults for foreign-residents Assets which have been temporarily “received in” as
collateral under resale agreements or similar financing agreements
SPECIFIC EXCLUSIONS
Foreign currency-denominated customers’ liabilities
Spot foreign exchange contracts Derivatives
– Forward and future exchange contracts
– Options
– Warrants
TYPES OF FOREIGNER HOLDERS
Foreign Official Institutions (Columns 1, 2 & 3) Foreign Banks (Columns 4, 5 & 6) All Other Foreigners ( Columns 7, 8 & 9)
TYPES OF INSTRUMENTS
Short-term U.S. Treasury Obligations (Columns 1, 4 & 7) Report foreign residents’ holdings of short-term
instruments that are direct obligations of the U.S. Treasury
TYPES OF INSTRUMENTS
Negotiable Certificates of Deposit and Negotiable
Short-term Securities (Columns 2, 5 & 8) Negotiable CDs Short-term securities including
– Securities of U.S. Government agencies
– Securities of Federally sponsored enterprises
– Securities of agencies and instrumentalities of state and local governments
TYPES OF INSTRUMENT
Other Custody Liabilities (Columns 3, 6 & 9) Loans to U.S. residents from foreigners that are
serviced by the reporter Loans to non-bank U.S. residents from managed
foreign offices of the reporter Syndicated loans from foreigners to U.S. residents for
which the reporter is the administrative agent Custodial holdings of non-negotiable securities
“OF WHICH” COLUMN ITEMS
Negotiable CDs (Column 11) Report negotiable CDs held for foreign residents
included in columns 2, 5 or 8
TIC BL-2
MEMORANDUM ROWS
LIABILITIES BY SECTOR OF U.S. DEBTOR
AND BY INSTRUMENT
MEMORANDUM ROWS
Total Bank Debt Row (8102-7) The total of all liabilities included in column 10
of the Grand Total Row (9999-6) for which U.S. depositories are the debtors.
MEMORANDUM ROWS
Loans to Banks Row (8141-8) Loans to U.S. banks from foreigners that are
included in the Total Bank Debt Row (8012-7)
Funds received from repurchase agreements and similar financing agreements included in
Total Bank Debt Row (8012-7)
MEMORANDUM ROWS
Short-term Negotiable Securities Issued by Banks
Row (8142-6) Short-term negotiable securities issued by U.S.
depositories held by foreigners that were included in the Total Bank Debt Row (8141-8)
Exclude
– Negotiable CDs
– Non-Negotiable Securities
MEMORANDUM ROWS
Total General Government Row (8144-2) Report the total of all debt issued by the:
– U.S. Treasury
– U.S. state and local governments
Exclude
• U.S. Government Agencies
• Federally Sponsored Enterprises
• U.S. Government Corporations
MEMORANDUM ROWSU.S. Agencies Row (8146-9) Report the total of all debt, including mortgage-
backed securities, issued by, or guaranteed by– U.S. Government Agencies– Federally Sponsored Enterprises– U.S. Government Corporations
Exclude– Privately-issued mortgage-backed securities that are guaranteed
by the U.S. government or federally sponsored enterprises, even if underlying collateral is government guaranteed
MEMORANDUM ROWS
Other Short-term Negotiable Securities Row (8150-3) Report short-term negotiable securities issued by
U.S. institutions other than:– U.S. Banks
– Federal Government
– State and Local Governments
– U.S. Government Agencies
MEMORANDUM ROWS
Loans to Others Row (8155-8) Report all loans from foreigners to U.S. residents other than to
U.S. Banks and U.S. Governments and Agencies
Include
– Funds received from repurchase agreements and similar financing agreements
– Loans to U.S. residents from foreigners that are serviced by the reporter
– Loans to non-bank U.S. residents from managed offices of the reporter
TIC QUARTERLY REPORT OF
CLAIMS
TIC BQ-1
REPORT OF CUSTOMERS’ U.S. DOLLAR CLAIMS ON
FOREIGNERS
WHAT TO REPORT
U.S. dollar-denominated claims of U.S. residents on foreigners: – Custody items
– Claims on managed foreign offices
– Funds placed overseas
– Brokerage balances
REPORTABLE CUSTOMER CLAIMS
Custody Items Claims on foreign residents that a reporter holds
in custody for the account of U.S. residents– Short-term negotiable and non-negotiable debt
securities issued by a foreigner
– Securities that have been temporarily “transferred out” under repurchase or similar agreements
– Negotiable CDs of any maturity issued by a foreigner and held by the reporter for U.S. residents
Situation 2
A U.S. resident has a claim on a foreign resident in the form of a short-term security or a certificate of deposit (of any maturity)
FLOWCHART 2a - U.S.-resident custodian is used
U.S. person/investor U.S.-resident custodian
Report on the BQ-1 (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated).
FLOWCHART 2b - No U.S. resident custodian is used
U.S. person/investor Foreign custodian, debtor, or issuer
Report on the BC (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated) or on the TIC CQ-1 (if not a TIC B report filer).
FLOWCHART 2c - U.S.-resident custodian and a U.S resident subcustodian is used
U.S. person/investor Foreign issuer or foreign custodian
U.S. institution A that maintains a custodial relationship with U.S. resident custodian B
U.S.-resident institution B that maintains custodian A’s custody account
Does not reportReport on the BQ-1 (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated) Note: The custodian closest to the U.S.-
resident claimant reports. The U.S. issuer does not report.
REPORTABLE CUSTOMER CLAIMS
Claims on Managed Offices Claims of non-bank U.S. residents on managed
offices of the reporter
Situation 4
A U.S. resident has a claim on a foreign office which is managed by the U.S. office of a depository institution
FLOWCHART 4a - Claims of a U.S. resident other than a BHC/FHC, depository institution, or securities broker or dealer
U.S. resident (other than BHC/FHC, depository institution, broker or dealer)
Foreign (e.g., Nassau) office of Bank A
U.S. office of Bank A
Report the claims on the TIC BQ-1 (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated) as “Other Customers’ Claims.”
Claims in the form of deposits or loans
Managed by:
FLOWCHART 4b - Claims of a U.S. resident BHC/FHC, depository institution, or securities broker or dealer
U.S. resident BHC/FHC, depository institution, broker or dealer
Foreign (e.g., Nassau) office of Bank A
U.S. office of Bank A
Report the claim on the BC (if U.S. dollar-denominated) or on the BQ-2, Part 1 (if foreign currency-denominated)
Claims in the form of deposits or loans
Managed by:
Does not report
REPORTABLE CUSTOMER CLAIMS
Funds Placed Overseas Claims of U.S. residents on foreign offices of the
reporter resulting from the reporter transferring funds from the accounts of U.S. residents from the reporters’ books to the books of foreign offices under pre-arranged “sweep” agreements
Situation 5
The assets of a U.S. resident are “swept” into an overseas account or asset.
FLOWCHART 5 - Funds “swept” Overseas
U.S. person/investor
Foreign (e.g., Nassau) office of Bank A
U.S. resident’s account at a foreign office or institution or other asset
U.S. office reports as a custody claim on the BQ-1 (if dollar denominated) or on the BQ-2, Part 1 (if foreign currency denominated).
Transfers funds in account at U.S. office to a foreign account under prearranged sweep agreement
REPORTABLE CUSTOMER CLAIMS
Brokerage Balances Brokerage balances of U.S. residents placed abroad
through the reporter
SPECIFIC EXCLUSIONS
Long-term securities Assets held in custody for customers, which have
been temporarily received in as collateral under resale agreements or similar financing agreements
Foreign currency-denominated claims Administrative agents for syndicated loans should
exclude loans to foreign borrowers by U.S. creditors A reporter’s own claims
TYPES OF INSTRUMENTS
Non-negotiable Foreign Deposits (Column 1) Deposits of non-bank U.S. residents that are held at
managed foreign offices of the reporter Claims of U.S. residents on foreign offices of the
reporter resulting from the reporter transferring funds from the accounts of U.S. residents from the
reporter’s books to the books of foreign offices as a deposit under pre-arranged “sweep” agreements
Brokerage balances of U.S. residents placed abroad
TYPES OF INSTRUMENTS
Negotiable CDs (Column 2) U.S. residents’ holdings of negotiable CDs issued
by foreign banks
TYPES OF INSTRUMENTS
All Short-term Negotiable Securities (Column 3) U.S. residents holdings of short-term negotiable
securities issued by foreigners
TYPES OF INSTRUMENTS
Other Claims (Column 4) U.S. residents’ holdings of non-negotiable
securities issued by foreigners Claims in the form of borrowings by non-U.S.
residents on managed offices of the reporter
TYPES OF INSTRUMENTS
Other Claims (Column 4) Claims of U.S. residents on foreign offices of the
reporter resulting from the reporter transferring funds from the accounts of U.S. residents from the reporter’s books to the books of the foreign offices in the form of a borrowing under pre-arranged “sweep” agreements
MEMORANDUM ITEMS“OF WHICH” ROWS
Commercial Paper Memorandum (Row 8161-2) Report the amount issued by foreigners and held
for the account of U.S. residents that is included in the Grand Total (Row 9999-6)
Claims of U.S. Banks Memorandum (Row 8163-9) Report the amounts for which U.S. depository
institutions are the customer of the reporter
TIC QUARTERLY REPORT OF
FOREIGN CURRENCY
CLAIMS AND LIABILITES
TIC BQ-2
PART 1 - REPORT OF FOREIGN CURRENCY LIABILITIES AND CLAIMS OF DEPOSITORY INSTITUTIONS, BANK HOLDING COMPANIES/FINANCIAL HOLDING COMPANIES, BROKERS AND DEALERS, AND OF THEIR DOMESTIC CUSTOMERS VIS-A-VIS FOREIGNERS
CURRENCY CONVERSION
All figures should be converted to U.S. dollars using the spot exchange rate on the as of date of the report
TYPES OF INSTRUMENTS
Reportable Own Liabilities (Columns 1 & 2)
Non-negotiable foreign deposits (Column 1) CDs Time Demand Savings (of any maturity) Brokerage balances
TYPES OF INSTRUMENTS
Other Liabilities (Column 2) Overdrawn deposits accounts Loans (any maturity) Short-term non-negotiable securities (an original
maturity of one year or less) Repurchase agreements and similar financing
agreements
TYPES OF INSTRUMENTS
Other Liabilities (Column 2) Exclude
– Loans from a foreigner that are serviced by a U.S. resident
– Security lending agreements
– Spot foreign exchange contracts
– Derivatives
TYPES OF INSTRUMENTS
Reporters Own Claims (Columns 3 & 4)
Non-negotiable foreign deposits (Column 3) All deposit balances due from foreign banks Brokerage balances due from foreign security
brokers and dealers and foreign banks
TYPES OF INSTRUMENTS
Reporters Own Claims (Columns 3 & 4)
Other Claims (Column 4) Negotiable CDs and all short-term securities Customer’s overdrawn accounts Loans and loan participations of any maturity Resale agreements and similar financing agreements Money market instruments
TYPES OF INSTRUMENTS
Customers’ Claims (Columns 5 & 6)
Non-negotiable Foreign Deposits (Column 5) Deposits of non-bank U.S. residents that are held at
managed foreign offices of the reporter Claims of U.S. residents on foreign offices of the
reporter resulting from the reporter transferring funds from the accounts of U.S. residents from the reporter’s books to the books of foreign offices as a deposit under pre-arranged “sweep” agreements
TYPES OF INSTRUMENTS
Other Customers’ Claims (Column 6) U.S. residents’ holdings of all other reportable
claims – Non-negotiable securities of foreigners
– Non-deposit claims of non-bank U.S. residents on managed offices of the reporter
TYPES OF INSTRUMENTS
Other Customers’ Claims (Column 6) Claims of U.S. residents on foreign offices of the
reporter resulting from the reporter transferring funds from the accounts of U.S. residents from the reporter’s books to the books of foreign offices in the form of a borrowing under pre-arranged “sweep” agreements
MEMORANDUM ITEMS “OF WHICH” ROWS
Total IBF Liabilities/Assets Memorandum Row
(Row 8300-3) Report the amounts included in the Grand Total
Row (Row 9999-6) which represent the liabilities (columns 1 & 2) or claims (columns 3 & 4) of the reporter’s International Banking Facilities (IBFs) to foreigners
MEMORANDUM ITEMS “OF WHICH” ROWS
Foreign Currency Detail Report Memorandum
Rows (8500-1 to 8500-4) Report the amounts that are denominated in:
– Canadian Dollars
– Euros
– Sterling
– Japanese Yen
MEMORANDUM ITEMS “OF WHICH” ROWS
Negotiable CDs Memorandum Row (8110-8) Report in columns 4 & 6, the total amount included in
the Grand Total row (9999-6) which represents negotiable CDs issued by foreigners
MEMORANDUM ITEMS “OF WHICH” ROWS
Short-term Negotiable Securities Memorandum
Row (8120-5) Report in columns 4 & 6, all short-term
negotiable securities issued by foreigners
MEMORANDUM ITEMS “OF WHICH” ROWS
Repurchase/Resale Agreements Memorandum
Row (8400-7) Report in column 2 of this row funds borrowed
from foreigners under repurchase agreements and similar financing arrangements
Report in column 4 of this row, funds loaned to foreigners under resale agreements
and similar financing arrangements
TIC BQ-2
PART 2 - REPORT OF CUSTOMERS’ FOREIGN
CURRENCY LIABILITIES TO FOREIGNERS
REPORTABLE CUSTOMER’S LIABILITIES
Foreign-currency denominated liabilities of U.S. residents
to foreigners including– Custody Items
– Liabilities to Managed Foreign Offices
– Loans Placed Overseas
– Short-term negotiable securities
TYPES OF INSTRUMENTS
Negotiable CDs (Column 1) Report foreign residents’ holdings of negotiable
CDs
All Short-term Negotiable Securities (Column 2) Foreign-resident holdings of negotiable securities
Other Liabilities (Column 3)
TYPES OF INSTRUMENTS
Other Liabilities (Column 3) Report foreign residents’ holding of all liabilities
other than negotiable CDs, and negotiable securities
Loans to U.S. residents that are serviced by the reporter
Loans to non-bank U.S. residents from managed foreign offices of the reporter
Holdings of non-negotiable securities
TIC QUARTERLY REPORT OF
MATURITIES OF SELECTED LIABILITIES
new
TIC BQ-3
REPORT OF MATURITIES OF SELECTED LIABILITIES OF
DEPOSITORY INSTITUTIONS, BANK HOLDING COMPANIES/FINANCIAL
HOLDING COMPANIES BROKERS AND DEALERS TO FOREIGNERS
WHAT TO REPORT
Remaining Maturity– Remaining maturity is the amount of time remaining
from the report date until the final contractual maturity date or the next call date
Treatment of Foreign Currency Denominated Liabilities– Convert to U.S. dollars equivalent using the spot exchange
rate on the as of date
FORM BQ-3MATURITIES OF SELECTED
LIABILITIES
ROW DEFINITIONS
Demand Deposits (Row 8010-1)– Amount of non-interest bearing liabilities that are payable
on demand
Arrears (Row 8020-9)– Amount of liabilities to foreigners that are past due. A
liability is past due when principal or interest due is unpaid for 30 days or more
ROW DEFINITIONS
Non-Interest Paying Items Without a Fixed Maturity Including Repos Under Continuing Contract (Row 8030-6)– Non-interest bearing liabilities to foreigners that have no
stated maturity or that rollover under continuing contract, excluding demand deposits.
ROW DEFINITIONS
Other Items Without a Fixed Maturity Including Repos Under a Continuing Contract (Row 8040-3)– Interest-bearing liabilities to foreigners that have no
stated maturity or roll-over under continuing contract
ROW DEFINITIONS
Time Remaining to Maturity:
90 Days or Less (Row 8051-9)
Over 90 to 180 Days (Row 8052-7)
Over 180 to 270 Days (Row 8053-5)
Over 270 to 1 year (Row 8054-3)
Over 1 year to 2 years (Row 8055-1)
Over 2 years (Row 8057-8)
TIC SEMIANNUAL
REPORTS
TIC BC (SA), BL-1(SA) and BL-2 (SA)
PURPOSE
To capture data in countries not listed separately on the monthly report forms– Data are reported in millions of dollars, on a gross basis
– Data reported should be the balances outstanding at the “close of business “ of the last business day of June or December
– Due no later than the 30th calendar day of the following month
– Each “Region Total” reported on the semiannual report form must equal the corresponding “Other” category on the monthly report
REPORTING CRITERIA
Claims on or liabilities to counterparties residing in the following regions – Other Europe
– Other Latin America
– Other Caribbean
– Other Asia
– Other Africa
– All Other
Question & Answers
TIC B WORKSHOP & ANSWERS
WORKSHOP
You are the manager of Bank Lundy, NY Branch. As such, you are responsible for the filing of the TIC Banking reports. The Head Office for Bank Lundy, NY Branch, is located in Paris, France.
The NY Branch acts as custodian for assets of its customers and is the U.S. sub-custodian for the Head Office. In addition, the Branch uses Reliable Bank, NY, as a custodian. Bank Lundy, NY Branch, is a participant of the Depository Trust and Clearing Company (DTCC).
The balances are outstanding as of the last business day of June and are short-term unless otherwise specified. The amounts are in millions of U.S. dollars. Please indicate which report(s), what column(s) and opposite which country(s) or International and Regional Organization(s) the following balances should be reported.
BC WORKSHOP
1. Bank Lundy, NY Branch, entered into a resale agreement with Trusty Securities, Germany, whereby the Branch received $150M 5-year U.S. Treasury notes as collateral against payment of $144M.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BC 1100-2 - Germany 5 & 6 $144MBC “Of Which” Items
1100-2 - Germany 9 $144M
(The amount lent, not the value of the collateral is reported)
BC WORKSHOP
2. Bank Lundy, NY Branch, granted a loan to the Ministry of Finance of Canada in the amount of $95M and its Paris head office, for $45M.
Bank Lundy, NY Branch, should file:Report Country Code/ Country
NameColumn Amount To Be
ReportedBC 2999-8 - Canada 3 & 6 $95M
BC 1080-4 - France 3 & 6 $45MBC “ Of Which” Items
2999-8 - Canada1080-4 - France
78
$95M$45M
BC WORKSHOP
3. Bank Lundy, NY Branch, placed funds in their own brokerage accounts held at a security broker in Paris ($100m) and a bank in Costa Rica ($65M), to support futures positions.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BC 1080-4 - France 5 & 6 $100MBC 3910-1 - Other Latin America 1 & 6 $65M
BC (SA) 3058-9 - Costa Rica 1 & 6 $65M
BL-1 WORKSHOP
1. A Bank in Germany opened a $55M non-interest bearing deposit with Bank Lundy, NY Branch.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-1 1100-2 - Germany 3 & 7 $55MBL-1 “Of Which” Items
8130-2 - Total Non-InterestBearing Liabilities 3 & 7 $55M
BL-1 WORKSHOP
2. A bank in Germany placed $75M in an overnight deposit with your IBF.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-1 1100-2 - Germany 4 & 7 $75MBL-1 “Of Which” Items
8300-3 - Total IBF Liabilities 4 & 7 $75M
BL-1 WORKSHOP
3. Bank Lundy, NY Branch issued $100M of non-negotiable CDs of which:– $50M was issued to the Bank for International Settlements (BIS), Switzerland,– $35M to Shima Bank, Japan, and – $15M to Resorts Inn, Guam;
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-1 1800-7 - Other Europe 1 & 7 $50MBL1 (SA) 1330-7 - BIS 1 & 7 $50M
BL-1 4260-9 - Japan 3 & 7 $35M
The $15M is not reportable. (Guam is a territory of the United States)
BL-1 WORKSHOP
6. Bank Lundy, NY Branch borrowed $75M from Reliable Bank, Switzerland. The loan is serviced by Reliable Bank, New York.
Bank Lundy, NY Branch, should file:
Not reportable by Bank Lundy, NY Branch, Reliable Bank, NY acting as loanservicer for a loan to a U.S. resident should report the U.S. resident’s loan liabilityto foreigners on the BL-2 (if dollar denominated) or BQ-2 (Part 2) (if foreigncurrency denominated).
BL-2 WORKSHOP
1. A bank located in Germany purchased $60M U.S. Treasury Bills for which Bank Lundy, NY Branch acts as custodian. The bank, in turn, entrusted the assets to Reliable Bank NY.
This is not reportable by Bank Lundy, NY Branch. However, Reliant Bank does
need to file. Reliant Bank should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-2 1100-2 - Germany 4 & 10 $60MBL-2 Memorandum Items
8144-2 - Total General Gov’t Total $60M
The U.S. custodian closest to the claimant reports.
BL-2 WORKSHOP
2. A bank located in Germany purchased $70M negotiable CDs issued by Guarantee Bank, Dallas, held by Bank Lundy, NY Branch, as custodian.
Bank Lundy, NY Branch, should file:Report Country Code/ CountryName
Column Amount To BeReported
BL-2 1100-2 - Germany 5 & 10 $70MBL-2 “Of Which” Item
1100-2 - Germany 11 $70 MBL-2 Memorandum Items
8102-7 - Total Bank Debt Total $70M
Note: Negotiable CDs issued by banks are not included in the Short-Term NegotiableSecurities Issued by Bank (8142-6) memorandum row.
BL-2 WORKSHOP
4. Bank Lundy, NY Branch manages the safekeeping of $80M FNMA discount notes for Volkswagen, Germany, which have entrusted to Reliable Bank, NY, for Bank Lundy, NY Branch’s own account.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-2 1100-2 - Germany 8 & 10 $80MBL-2 Memorandum Items
8146-9 - U.S. Agencies Total $80M
BL-2 WORKSHOP
9. Bank Lundy, NY Branch acts as administrative agent for a syndicated $500M loan of Volkswagen, Germany to Volkswagen, New York. $100M of the loan was drawn down.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-2 1100-2 - Germany 9 & 10 $100MBL-2 Memorandum Items
8155-8 - Loans to Others Total $100M
(Only report the portion of the loan that is drawn down.)
BL-2 WORKSHOP
11. Bank Lundy, Paris (Head Office) holds an $80M loan for ABC Trucking, San Diego. Bank Lundy, NY Branch acts as administrative agent for the loan.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BL-2 1080-4 - France 6 & 10 $80MBL-2 Memorandum Items
8155-8 - Loans to Others Total $80M
BQ-1 WORKSHOP
1. Bank Lundy, NY Branch purchased a $72M negotiable CD issued by Reliable Bank, Cayman Islands, which you have entrusted to Reliable Bank, NY for safekeeping.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-1 3613-7 - Cayman Islands 2 & 5 $72MBQ-1 8163-9 - Claims of U.S.
Banks 2 & 5 $72M
BQ-1 WORKSHOP
2. Bank Lundy, NY Branch manages the safekeeping of $25M, 2-year participation in a loan to a chocolate factory in Belgium, for Walt Disney & Co. California.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-1 1025-1 - Belgium 4 & 5 $25M
Loan participation certificates regardless of maturity are reportable.
BQ-1 WORKSHOP
5. Bank Lundy, NY Branch transferred $150M on its books from the account of JP Morgan Chase, New York, into a loan account in the form of a borrowing at Bank Lundy, Hong Kong under a pre-arranged “sweep” agreement.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-1 4200-5 - Hong Kong 4 & 5 $150MBQ-1 “Of Which” Items
8163-9 - Claims of US Banks 4 & 5 $150M
BQ-1 WORKSHOP
6. Bank Lundy, NY Branch manages the safekeeping of $350M U.S. dollar-denominated commercial paper issued by Danish Bakery of Denmark, held at DTCC for ABC Company of Florida.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-1 1050-2 - Denmark 3 & 5 $350MBQ-1 “Of Which” Items
8161-2 - Commercial Paper 3 $350M
The branch is a participant of DTCC. DTCC does not know the customers of itsparticipants.
BQ-2 WORKSHOP
1. Bank Lundy, NY Branch purchased $15M equivalent of yen-denominated Japanese Treasury bills held at Bank Lundy, Hong Kong.
Bank Lundy, NY Branch, should file:Report Country Code/ Country
NameColumn Amount To Be
ReportedBQ-2 4260-9 - Japan 4 & 7 $15MBQ-2 “Of Which” Items
8500-4 - Denominated inYen
8120-5 - Short-termnegotiable security
4
4
$15M
$15M
The claim is reportable opposite the direct obligor, not opposite the location ofthe custodian.
BQ-2 WORKSHOP
2. Bank Lundy, NY Branch manages the safekeeping of $20M equivalent Sterling-denominated, 6-month notes issued by Volkswagen USA and guaranteed by Volkswagen, Germany, for San Juan Hotel, Puerto Rico.
Bank Lundy, NY Branch, should file:
Not reportable. Domestic-to-domestic. Neither the country of currency nor thecountry of the guarantor has any bearing on its reportability. The country ofobligor is the determining factor.
BQ-2 WORKSHOP
4. Bank Lundy, NY Branch manages the safekeeping of $75M Euro equivalent collection items payable by U.S. car importers for Volkswagen, Germany.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-2,Part 2 9980-5 - Total for All
Foreign Countries & Int’l.& Regional Orgs. 3 & 4 $75M
BQ-2 WORKSHOP
5. Bank Lundy, NY Branch executed a $50M Sterling equivalent acceptance payable to Rolls Royce, Canada, payable by U.S. importers.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-2,Part 2 9980-5 - Total for All
Foreign Countries & Int’l.& Regional Orgs. 3 & 4 $50M
BQ-3 WORKSHOP
1. Bank Lundy, NY Branch issued $300m of negotiable CDs’ which $150m was issued to the Bank of Niagara, Canada.
Bank Lundy, NY Branch, should file:
All negotiable securities and negotiable certificates of deposit are excluded fromthe BQ-3. This transaction should be reported on the BL-2 (if dollar-denominated) or BQ-2 (if foreign currency-denominated). U.S. held foreignnegotiable certificates of deposits should be reported on the BC or BQ-1 (if dollar-denominated), or the BQ-2 (if foreign currency-denominated).
BQ-3 WORKSHOP
2. Bank Lundy, NY Branch entered into a repurchase agreement with the Central Bank of Bahamas, where the branch sold U.S. Treasury Notes to the National Bank of Bahamas against payment of $200m with the intentions of repurchasing the Treasury Notes (which mature in one year) on September 30.
Bank Lundy, NY Branch, should file:
Report Country Code/ CountryName
Column Amount To BeReported
BQ-3 8054-3 Over 270 Days to 1 Year 2 & 4 $200M
BL-1 3531-9 Bahamas 2 ,7 & 9 $200MBL-1 “Of Which” Items
8400-7 - RepurchaseAgreements 2 & 7 $200M
BQ-3 WORKSHOP
3. Canadian Inc, Canada opened a 2-year, $90M time deposit account denominated in Japanese Yen at Bank Lundy, NY Branch.
Bank Lundy, NY Branch, should file: Report Country Code/ Country
NameColumn Amount To Be
ReportedBQ-3 8055-1
Over 1 Year to 2 Years 1 & 4 $90MBQ-2 2999-8 Canada 1 & 7 $90MBQ-2 “Of Which” Items
8500-4 - Denominated inYen 1 $90M
THE END