[Federal Register Volume 63, Number 93 (Thursday, May 14, 1998)]
[Notices]
[Page 26770]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-12822]
[[Page 26770]]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Annual Survey of Financial Services Transactions Between U.S.
Financial Services Providers and Unaffiliated Foreign Persons
ACTION: Proposed collection; comment request.
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SUMMARY: The Department of Commerce, as part of its continuing effort
to reduce paperwork and respondent burden, invites the general public
and other Federal agencies to comment on proposed and/or continuing
information collections, as required by the Paperwork Reduction Act of
1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
DATES: Written comments must be submitted on or before July 13, 1998.
ADDRESSES: Direct all written comments to Linda Engelmeier,
Departmental Forms Clearance Officer, Department of Commerce, Room
5327, 14th and Constitution Avenue, NW, Washington, DC 20230.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection instrument and instructions should
be directed to: R. David Belli, U.S. Department of Commerce, Bureau of
Economic Analysis, BE-50 (OC), Washington, DC 20230 (Telephone: 202-
606-9800).
SUPPLEMENTARY INFORMATION:
I. Abstract
The BE-82 Annual Survey of Financial Services Transactions between
U.S. Financial Services Providers and Unaffiliated Foreign Persons will
obtain data on financial services transactions between U.S. financial
services providers and unaffiliated foreign persons and covers all
transactions above a size-exemption level. The data from the survey
will update the data collected in the quinquennial BE-80 benchmark
survey of such services. The information gathered is needed, among
other purposes, to support U.S. trade policy initiatives and to compile
the U.S. international transactions, input-output, and national income
and product accounts. BEA is requesting only an extension of a
currently approved collection and is not proposing any changes in
either language or data collected.
II. Method of Collection
The survey will be sent each year to potential respondents in
January and responses are due by March 31. A U.S. person that is a
financial services provider is required to report if its total receipts
from, or total payments to, unaffiliated foreign persons for financial
services exceeded $5 million during the covered year. A U.S. person
that receives a form but is not required to report data must file an
exemption claim.
III. Data
OMB Number: 0608-0063.
Form Number: BE-82.
Type of Review: Regular submission.
Affected Public: U.S. businesses or other for-profit institutions
engaging in international financial services transactions.
Estimated Number of Responses: 425.
Estimated Time Per Response: 7.5 hours.
Estimated Total Annual Burden Hours: 3,200.
Estimated Total Annual Cost: $96,000 (based on an estimated
reporting burden of 3,200 hours and an estimated hourly cost of $30).
IV. Request for Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information has practical utility;
(b) the accuracy of the agency's estimate of the burden (including
hours and cost) of the proposed collection of information; (c) ways to
enhance the quality, utility, and clarity of the information to be
collected; and (d) ways to minimize the burden of the collection of
information on respondents, including through the use of automated
collection techniques or other forms of information technology.
Comments submitted in response to this notice will be summarized
and/or included in the request for OMB approval of this information
collection; they also will become a matter of public record.
Dated: May 8, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and
Organization.
[FR Doc. 98-12822 Filed 5-13-98; 8:45 am]
BILLING CODE 3510-06-P
