On June 27, 2011, the Department of the Treasury (Treasury) announced the approval of Treasury International Capital Form SLT (Form SLT)1 and accompanying instructions2 by the Office of Management and Budget.3 Form SLT is a reaction to the recent global financial crisis, which heightened awareness of the importance of collecting economic and financial data on cross-border transactions. The Treasury currently collects monthly and annual data on holdings of short-term securities, as well as monthly data on purchases and sales of long-term securities. It uses this data to estimate aggregate monthly holdings of long-term securities. The Treasury, however, has concluded that these estimates are costly and inaccurate. Consequently, the Treasury created Form SLT to ensure more timely and accurate measurement of cross-border holdings of long-term securities. The Treasury expects data from Form SLT reports to improve the preparation of the U.S. balance of payments accounts and the U.S. international investment position, as well as the formulation of U.S. international financial and monetary policies. The first reporting date was September 30, 2011, and the first report will be due on October 24, 2011. The determination of whether and what to report will prove burdensome for many potential reporters, in part because the scope of the report is quite broad. This article provides an overview of the reporting requirements under Form SLT.
— U.S.-resident Custodians
— U.S.-resident Issuers
— U.S.-resident End-investors
Reporting Issues for Investment Advisers
Timing and Submission of Reports
Penalties for Non-compliance
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