STATUTES & REGULATIONS

Frequently Asked Questions Relating to Treasury's Large Position Recordkeeping and Reporting Rules - APPENDIX B TO PART 420 - SAMPLE LARGE POSITION REPORT

6.1) When submitting a large position report, is there a specific form that must be used? What information must be submitted?

No, there is no specific form that is required. Rather than mandating a specific form, Treasury permits reporting entities to develop their own large position reports, provided that the reports contain all of the required information as detailed in the rules. It is suggested that the following sample be used as a guide. Market participants are advised to carefully read the rules to ensure that all the required information is reported correctly. Failure to include any of the required information, including administrative information, in the large position report will constitute non-compliance with the rules.

6.2) Can an individual sign a large position report as the authorized official if he/she does not have one of the specific titles listed in the rules?

Yes, such an individual may sign a large position report as long as he or she is the functional equivalent (i.e., has equivalent authority or responsibilities) of one of the officials listed in the rules. For example, an entity's treasurer may sign the report in lieu of a chief financial officer if he or she acts as the entity's top decision-maker regarding the entity's financial matters.

6.3) Sample Large Position Report

Formula for Determining a Reportable Position
        ($ Amounts in millions at par value as of trade date)

Security Being Reported: ___________________
Date For Which Information is Being Reported: ___________________

1. Net Trading Position

Cash/Immediate Net Settled Positions $_____________
Net When-Issued Positions for To-Be-Issued
         and Reopened Issues $_____________
Net Forward Settling Positions Including
         Next-Day Settling $_____________
Net Positions in Futures Contracts Requiring
        Delivery of the Specific Security $_____________
Net Holdings of STRIPS Principal Components
         of the Specific Security $_____________

TOTAL NET TRADING POSITION $_____________

2. Gross Financing Position

  Total of securities received through

Reverse Repurchase Agreements
         Overnight and Open $_____________
         Term $_____________
Bonds borrowed, and as collateral for financial
         derivatives and other financial
         transactions $_____________

TOTAL GROSS FINANCING POSITION $_____________

3. Net Fails Position $_____________

  (Fails to receive less fails to deliver. If equal to or less than zero, report 0.)

4. TOTAL REPORTABLE POSITION = $_____________

Memorandum 1

Report the total gross par amounts of securities delivered
through
   Repurchase Agreements
      Overnight and Open $_____________
     Term $_____________
   Securities loaned, and as collateral for financial
   derivatives and other securities
   transactions $_____________

TOTAL MEMORANDUM 1 $_____________

Memorandum 2

Report the gross par amount of fails to deliver. Included in the
calculation of line item 3 (Net Fails Position $_____________

6.4) Administrative Information to be Provided in the Report

Name of Reporting Entity:
Address of Principal Place of Business:
Name and Address of the Designated Filing Entity:
Treasury Security Reported on:
CUSIP Number:
Date or Dates for Which Information Is Being Reported:
Date Report Submitted:
Name and Telephone Number of Person to Contact Regarding Information Reported:
Name and Position of Authorized Individual Submitting this Report (Chief Compliance Officer; Chief Legal Officer; Chief Financial Officer; Chief Operating Officer; Chief Executive Officer; or Managing Partner or Equivalent of the Designated Filing Entity Authorized to Sign Such Report on Behalf of the Entity):

Statement of Certification: “By signing below, I certify that the information contained in this report with regard to the designated filing entity is accurate and complete. Further, after reasonable inquiry and to the best of my knowledge and belief, I certify: (i) that the information contained in this report with regard to any other aggregating entities is accurate and complete; and (ii) that the reporting entity, including all aggregating entities, is in compliance with the requirements of 17 CFR Part 420.”

 

Signature of Authorized Person Named Above:

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