International Services Surveys: BE-150, Quarterly Survey of Cross-Border Credit, Debit, and Charge Card Transactions, 15843-15844 [E9-7987]

Agencies

• DEPARTMENT OF COMMERCE
• Bureau of Economic Analysis
• Economic Analysis Bureau

[Federal Register Volume 74, Number 66 (Wednesday, April 8, 2009)]
[Rules and Regulations]
[Pages 15843-15844]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-7987]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

15 CFR Part 801

[Docket No. 0807311000-9272-02 ]
RIN 0691-AA67


International Services Surveys: BE-150, Quarterly Survey of 
Cross-Border Credit, Debit, and Charge Card Transactions

AGENCY: Bureau of Economic Analysis, Commerce.

ACTION: Final rule.

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SUMMARY: This final rule amends regulations of the Bureau of Economic 
Analysis, Department of Commerce (BEA) to set forth the reporting 
requirements for a new mandatory survey entitled the BE-150, Quarterly 
Survey of Cross-Border Credit, Debit, and Charge Card Transactions. The 
survey will collect from major U.S. credit card companies data on 
cross-border credit, debit, and charge card transactions between U.S. 
cardholders traveling abroad and foreign businesses and between foreign 
cardholders traveling in the United States and U.S. businesses. The BE-
150 survey will be conducted on a quarterly basis beginning with the 
first quarter of 2009.
    The BE-150 survey data will be used by BEA in estimating the travel 
component of the U.S. International Transactions Accounts (ITAs). In 
constructing the estimates, these data will be used in conjunction with 
data BEA is collecting separately from U.S. and foreign travelers on 
the Survey of International Travel Expenditures on the methods these 
travelers used to pay for their international travel, such as credit, 
debit, and charge card purchases, cash withdrawals, currency brought 
from home, and travelers' checks.

DATES: This final rule will be effective May 8, 2009.

FOR FURTHER INFORMATION CONTACT: Chris Emond, Chief, Special Surveys 
Branch, (BE-50), Balance of Payments Division, Bureau of Economic 
Analysis, U.S. Department of Commerce, Washington, DC 20230; e-mail 
christopher.emond@bea.gov; or phone (202) 606-9826.

SUPPLEMENTARY INFORMATION: In the September 18, 2008 Federal Register, 
73 FR 54095, BEA published a notice of proposed rulemaking to amend 15 
CFR 801.9 to set forth reporting requirements for a new mandatory 
survey entitled BE-150, Quarterly Survey of Cross-Border Credit, Debit, 
and Charge Card Transactions. No comments were received on the proposed 
rule. Thus, the proposed rule is adopted without change.

Description of Changes

    The BE-150 survey is a mandatory survey and will be conducted, 
beginning with transactions for the first quarter of 2009, by BEA under 
the International Investment and Trade in Services Survey Act (22 
U.S.C. 3101-3108), hereinafter, ``the Act.'' For the initial quarter of 
coverage, BEA will send the survey to potential respondents in April of 
2009; responses will be due by May 30, 2009.
    The BE-150 survey will collect from the U.S. credit card companies 
data covering cross-border credit, debit, and charge card transactions 
between U.S. cardholders traveling abroad and foreign businesses and 
between foreign cardholders traveling in the United States and U.S. 
businesses--by country of the transaction (for U.S. cardholders) or by 
country of residency of the cardholder (for foreign cardholders). 
Credit card companies that operate networks used to clear and settle 
credit card transactions between issuing banks and acquiring banks 
would be responsible for reporting on this survey. Issuing banks, 
acquiring banks, and individual cardholders will not be required to 
report. Data will be collected by the type of transaction, by type of 
card, by spending category, and by country. Data on credit card 
transactions of U.S. cardholders traveling abroad and foreign 
cardholders traveling in the United States will be collected at an 
aggregate level from the U.S. credit card companies; data on the 
transactions of individuals will not be collected.

Survey Background

    The Bureau of Economic Analysis (BEA), U.S. Department of Commerce, 
will conduct the survey under the International Investment and Trade in 
Services Survey Act (22 U.S.C. 3101-3108), hereinafter, ``the Act.'' 
Section 4(a) of the Act (22 U.S.C. 3103(a)) provides that the President 
shall, to the extent he deems necessary and feasible, conduct a regular 
data collection program to secure current information related to 
international investment and trade in services and publish for the use 
of the general public and United States Government agencies periodic, 
regular, and comprehensive statistical information collected pursuant 
to this subsection.
    In Section 3 of Executive Order 11961, as amended by Executive 
Orders 12318 and 12518, the President delegated the responsibilities 
under the Act for performing functions concerning international trade 
in services to the Secretary of Commerce, who has redelegated them to 
BEA.
    The survey provides a basis for compiling the travel account of the 
United States international transactions accounts. In constructing the 
estimates, these data will be used in conjunction with data BEA is 
collecting separately from U.S. and foreign travelers on the Survey of 
International Travel Expenditures on the methods these travelers used 
to pay for international travel expenditures. With the two data 
sources, BEA will be able to estimate total expenditures by foreign 
travelers in the United States (U.S. exports) and total expenditures by 
U.S. travelers abroad (U.S. imports) by country and region.

Executive Order 12866

    This final rule has been determined to be not significant for 
purposes of E.O. 12866.

Executive Order 13132

    This final rule does not contain policies with Federalism 
implications sufficient to warrant preparation of a Federal assessment 
under E.O. 13132.

Paperwork Reduction Act

    The collection-of-information in this final rule has been approved 
by the Office of Management and Budget (OMB) under control number 0608-
0072 pursuant to the requirements of the Paperwork Reduction Act.

[[Page 15844]]

    Notwithstanding any other provisions of the law, no person is 
required to respond to, nor shall any person be subject to a penalty 
for failure to comply with, a collection of information subject to the 
requirements of the Paperwork Reduction Act unless that collection 
displays a currently valid Office of Management and Budget Control 
Number. The collection will display this number.
    The BE-150 quarterly survey is expected to result in the filing of 
reports from four respondents on a quarterly basis, or 16 reports 
annually. The respondent burden for this collection of information will 
vary from one respondent to another, but is estimated to average 16 
hours per response (64 hours annually), including time for reviewing 
the instructions, searching existing data sources, gathering and 
maintaining the data needed, and completing and reviewing the 
collection of information. Thus, the total respondent burden for the 
BE-150 survey is estimated at 260 hours.
    Written comments regarding the burden-hour estimate or any other 
aspect of this collection of information contained in this final rule 
should be sent to (1) the Bureau of Economic Analysis via mail to U.S. 
Department of Commerce, Bureau of Economic Analysis, Chris Emond, 
Chief, Special Surveys Branch (BE-50), Washington, DC 20230, via e-mail 
at christopher.emond@bea.gov, or by FAX at 202-606-5318; and (2) the 
Office of Management and Budget, O.I.R.A., Paperwork Reduction Project, 
Attention PRA Desk Officer for BEA, via e-mail at pbugg@omb.eop.gov, or 
by FAX at 202-395-7245.

Regulatory Flexibility Act

    The Chief Counsel for Regulation, Department of Commerce, has 
certified to the Chief Counsel for Advocacy, Small Business 
Administration, under provisions of the Regulatory Flexibility Act (5 
U.S.C. 605(b)), that this rule will not have a significant economic 
impact on a substantial number of small entities. The factual basis for 
this certification was published with the proposed rule. No comments 
were received regarding the economic impact of this rule. As a result, 
no final regulatory flexibility analysis was prepared.

List of Subjects in 15 CFR Part 801

    International transactions, Economic statistics, Foreign trade, 
Penalties, Reporting and recordkeeping requirements, Travel expenses, 
Cross-border transactions, Credit card, and Debit card.

    Dated: January 29, 2009.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.

0
For the reasons set forth in the preamble, BEA amends 15 CFR part 801, 
as follows:

PART 801--SURVEY OF INTERNATIONAL TRADE IN SERVICES BETWEEN U.S. 
AND FOREIGN PERSONS

0
1. The authority citation for 15 CFR part 801 continues to read as 
follows:

    Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 22 U.S.C. 3101-3108; 
and E.O. 11961, 3 CFR, 1977 Comp., p. 86, as amended by E.O. 12318, 
3 CFR, 1981 Comp., p. 173, and E.O. 12518, 3 CFR, 1985 Comp., p. 
348.


0
2. Amend Sec.  801.9 by adding paragraph (c)(7) to read as follows:


Sec.  801.9  Reports required.

    (c) Quarterly surveys. * * *
    (7) BE-150, Quarterly Survey of Cross-Border Credit, Debit, and 
Charge Card Transactions:
    (i) A BE-150, Quarterly Survey of Cross-Border Credit, Debit, and 
Charge Card Transactions will be conducted covering the first quarter 
of the 2009 calendar year and every quarter thereafter.
    (A) Who must report. A BE-150 report is required from each U.S. 
company that operates networks for clearing and settling credit card 
transactions made by U.S. cardholders in foreign countries and by 
foreign cardholders in the United States. Each reporting company must 
complete all applicable parts of the BE-150 form before transmitting it 
to BEA. Issuing banks, acquiring banks, and individual cardholders are 
not required to report.
    (B) Covered Transactions. The BE-150 survey collects aggregate 
information on the use of credit, debit, and charge cards by U.S. 
cardholders when traveling abroad and foreign cardholders when 
traveling in the United States. Data are collected by the type of 
transaction, by type of card, by spending category, and by country.
    (ii) [Reserved]

 [FR Doc. E9-7987 Filed 4-7-09; 8:45 am]
BILLING CODE 3510-06-P