This chapter outlines the submission of data to the Department of the Treasury (Treasury) relating to U.S. Government loans, credits, and contingent liabilities on loans, credits, and other payment scheduling agreements involving foreigners.

The Secretary of the Treasury requires the information agencies provide to fulfill reporting responsibilities to the Congress. In addition, the reported information provides data for:

• The annual "U.S. Government Foreign Credit Exposure" report,
• Submissions to the Organization for Economic Co-operation and Development’s (OECD) Creditor Reporting System (CRS), and
• Assistance to the Office of Management and Budget (OMB) in preparing budget estimates.

The provisions of this chapter apply to all departments and agencies of the executive branch of the U.S. Government, including Government corporations subject to the Government Corporation Control Act, that:

• Authorize, commit, or have outstanding, loans or other transactions creating foreign indebtedness to the U.S. Government, and
• Have contingent liabilities under agreements pertaining to loans, credits, or other payment scheduling agreements involving foreigners.

All reporting agencies must provide data to Treasury through the online Foreign Credit Reporting System (FCRS). 

Section 114 of the Budget and Accounting Procedures Act of 1950 (31 U.S.C. 3513) requires the Secretary of the Treasury to prepare reports to inform the President, the Congress, and the public on financial operations of the U.S. Government and provides that each executive agency must furnish the Secretary of the Treasury with information relating to the agency's financial condition and operations as the Secretary may require.

The following Congressional reports launched the Foreign Credit Reporting System and the annual Treasury publication, "U.S. Government Foreign Credit Exposure":

• The House Committee Report on Foreign Operations Appropriations Bill 1992, (H.R. Conf. Rept. 102-238) and
• The Conference Report 101-344 dated November 11, 1989.

Data collected also will provide information for the OECD's CRS, which has annual, semiannual, and quarterly reporting requirements.

For terms and definitions related to this chapter, please view the FCRS Glossary.

For information on reporting requirements, please refer to the FRCS User Guide. This guide is available at https://fcrs.treasury.gov/fcrs/s/. Upon login, the FRCS User Guide may be accessed for further information, including step-by-step instructions for uploading data into the FRCS system.

Direct inquiries concerning this chapter to:

Office of Global Economics and Debt
Office of International Affairs
Department of the Treasury
1500 Pennsylvania Avenue, NW.
Washington, DC 20220

Please visit https://fcrs.treasury.gov/fcrs/s/

For assistance with FCRS, please contact fcrsadmin@treasury.gov