What value should be used to report long-term securities transactions?
A. The figures reported on TIC Form S for purchases and sales of long-term securities should represent the total gross U.S. dollar amount of money debited or credited (i.e., the cost of purchases plus commissions, etc., or the proceeds of sales less commissions, tax, etc.). For example, if a foreign resident located in France purchases a $50 million U.S. Treasury note from a U.S.-resident broker/dealer, and the total cost to the foreign resident is $52 million ($50 million plus $2 million for fees) the U.S.-resident broker/dealer should report on TIC Form S $52 million opposite France, column 1 (Purchases of U.S. Treasury and Financing Bank Bonds and Notes). Alternately, if a foreign resident located in France sells a $100 million U.S. Treasury note to a U.S.-resident broker/dealer, and receives $98 million from the sale ($100 million less $2 million for fees), the U.S.-resident broker/dealer should report on TIC Form S the gross amount of $98 million opposite France, column 2 (Sales o
