US Treasury’s Benchmark TIC SHL Survey and Implications for Investment Managers

June 30, 2014

In August 2014, the U.S. Department of the Treasury (Treasury) and the Federal Reserve Bank of New York (FRBNY) will conduct a benchmark survey of foreign holdings of U.S. issuers’ securities on Treasury International Capital (TIC) Form SHL (TIC SHL). U.S. asset managers that advise investment funds with foreign investors may be required to file TIC SHL. This Dechert OnPoint provides an overview of the TIC SHL reporting requirements and explains how they may apply to investment managers.

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