The TIC data cover cross-border transactions. What kinds of transactions are considered “cross-border”?
The TIC data collection system is specifically designed to capture U.S.-cross border financial transactions for balance of payments purposes. That is, it is designed to capture only financial transactions that involve both a U.S. resident and a foreign resident. Note that a U.S. resident includes any individual, corporation, or organization located in the United States including branches, subsidiaries, and affiliates of foreign entities located in the United States . In addition, any corporation incorporated in the United States is considered a U.S. resident even if it has no physical presence. Thus, a U.S. branch of a Japanese bank is considered a U.S. resident, and a London branch of a U.S. bank is considered a foreign resident.
Related Questions
- How do the TIC data on foreign official transactions in U.S. agency securities compare with changes in FRBNY custody holdings?
- What securities are included in "corporate and other" bonds in the survey reports and in the monthly TIC transactions data?
- The TIC data cover cross-border transactions. What kinds of transactions are considered "cross-border"?