[Federal Register Volume 63, Number 28 (Wednesday, February 11, 1998)]
[Notices]
[Page 6889]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-3481]
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DEPARTMENT OF COMMERCE
Submission for OMB Review; Comment Request
DOC has submitted to the Office of Management and Budget (OMB) for
clearance the following proposal for collection of information under
the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35).
Agency: Bureau of Economic Analysis.
Title: Direct Transactions of U.S. Reporter with Foreign Affiliate.
Form Number(s): BE-577.
Agency Approval Number: 0608-0004.
Type of Request: Revision of a currently approved collection.
Burden: 64,000 hours.
Number of Respondents: 12,800 respondents, 4 responses each per
year.
Avg Hours Per Response: 1\1/4\ hours.
Needs and Uses: The survey collects quarterly sample data on
transactions and positions between U.S.-owned foreign business
enterprises and their U.S. parents. Universe estimates are developed
from the reported sample data. The data are needed to compile the U.S.
international transactions, input-output, and national income and
product accounts, and the international investment position of the
United States. The data are also needed to measure the economic
significance of U.S. direct investment abroad, measure changes in such
investment, and assess its importance.
In addition, the data are needed by the Departments of Treasury,
State, and Commerce, the Office of the U.S. Trade Representative, and
the Council of Economic Advisers to carry out U.S. international
economic policy. They are also needed by the Federal Reserve Board in
the conduct of U.S. monetary policy. Such policy must be based upon an
informed analysis of current information on cross border transactions,
including transactions between U.S. affiliates and their foreign
parents. The data are particularly valuable to these agencies because
they are collected, analyzed, and published within 90 days after the
end of each calendar quarter, allowing data users to see the
consequences of changes in economic conditions almost immediately.
Affected Public: Businesses or other for-profit institutions.
Frequency: Quarterly.
Respondent's Obligation: Mandatory.
Legal Authority: Title 22 U.S.C., Sections 3101-3108, as amended.
OMB Desk Officer: Paul Bugg, (202) 395-3093.
Copies of the above information collection proposal can be obtained
by calling or writing Linda Engelmeier, DOC Forms Clearance Officer,
(202) 482-3272, Department of Commerce, Room 5732, 14th Street and
Constitution Avenue, NW, Washington, DC 20230.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to Paul Bugg, OMB Desk Officer, Room 10201, New Executive Office
Building, Washington, DC 20503.
Dated: February 6, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and
Organization.
[FR Doc. 98-3481 Filed 2-10-98; 8:45 am]
BILLING CODE 3510-06-P