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TCH Recommends Changes to TIC Instructions

The Clearing House Association submitted a letter to the Federal Reserve Bank of New York requesting that (i) the TIC instructions be revised to provide uniform definitions of defined terms and to clarify reporting for a bank’s “own foreign office” and the definitions of other terms used in the instructions to the TIC reports and (ii) TIC B instructions’ Consolidation/Combination Rules be clarified with respect to where on the TIC B reports a reporting entity should consolidate a subsidiary.