On 10 June 2019, US Treasury notified it's conducting mandatory survey.
- US Treasury announced mandatory survey of foreign ownership of US securities.
- The survey covers foreign ownership of US securities as of 30 June 2019.
- Survey is authorized by international investment and trade in services survey act.
- Applies to US persons, who meet reporting requirements, must respond to survey.
- They are US persons, who manage safekeeping of US securities for foreign persons, including the affiliates in the US of foreign entities, collectively called US custodians.
- US custodians must report if total market value of the U.S. securities in safekeeping is $100Mn or more as of 30 June 2019, aggregated over all accounts, US branches.
- Also, US persons, who issue securities, owned directly by foreign persons if the total market value is $100Mn or more as of 30 June 2019, aggregating issues by all subs.
- Not apply to issues/holdings if no U.S.-resident custodian, securities depository used.
- Securities held by U.S. nominees, for example, bank or broker custody departments, should be considered to be U.S.-held securities, as far as the issuer is concerned.
- Also, US persons, who receive letter from Fed New York, requiring filing of Schedule 1.
- Even if US person is under $100Mn threshold and need only say exempt on Schedule.
- The survey forms is SHL (2019), and accessible on Treasury website with instructions.
- Information on foreign resident holdings of US securities, in equity, short-term debt securities including some money market instruments, and long-term debt securities.
- Data should be submitted to Fed New York, on behalf Treasury, by 30 August 2019.