Proposed Information Collection; Comment Request; Services Surveys: BE-185, Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons, 31363-31364 [2018-14420]
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Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices
contacted by BEA have no reporting
responsibilities.
BEA offers electronic filing through
its eFile system for use in reporting on
the BE–9 quarterly survey form. For
information about eFile, go to
www.bea.gov/efile. In addition, BEA
posts all its survey forms and reporting
instructions on its website,
www.bea.gov/ssb. These may be
downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0068.
Form Number: BE–9.
Type of Review: Regular submission.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses: 180
annually (45 filed each quarter: 44
reporting mandatory data, and one that
would file an exemption claim).
Estimated Time Per Response: 6 hours
is the average for those reporting data.
One hour is the average for those filing
an exemption claim. Hours may vary
considerably among respondents
because of differences in the volume
and complexity of information on the
foreign air carriers represented by the
reporter.
Estimated Total Annual Burden
Hours: 1,060.
Estimated Total Annual Cost to
Public: $0.
Respondent’s Obligation: Mandatory.
Legal Authority: International
Investment and Trade in Services
Survey Act (Pub.L. 94–472, 22 U.S.C.
3101–3108, as amended).
amozie on DSK3GDR082PROD with NOTICES1
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 will
have 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;
VerDate Sep<11>2014
16:43 Jul 03, 2018
Jkt 244001
they also will become a matter of public
record.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of
Chief Information Officer.
[FR Doc. 2018–14422 Filed 7–3–18; 8:45 am]
BILLING CODE 3510–06–P
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection;
Comment Request; Services Surveys:
BE–185, Quarterly Survey of Financial
Services Transactions Between U.S.
Financial Services Providers and
Foreign Persons
Bureau of Economic Analysis,
Department of Commerce.
ACTION: Notice.
AGENCY:
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.
DATES: Written comments must be
submitted on or before September 4,
2018.
SUMMARY:
Direct all written comments
to Jennifer Jessup, Departmental
Paperwork Clearance Officer,
Department of Commerce, Room 6616,
14th and Constitution Avenue NW,
Washington, DC 20230, or via email at
PRAcomments@doc.gov.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the information collection
instrument and instructions should be
directed to Christopher Stein, Chief,
Services Surveys Branch (SSB) BE–50,
Bureau of Economic Analysis, U.S.
Department of Commerce, Washington,
DC 20233; phone: (301) 278–9189; fax:
(301) 278–9507; or via email at:
christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION:
ADDRESSES:
I. Abstract
The Quarterly Survey of Financial
Services Transactions between U.S.
Financial Services Providers and
Foreign Persons (BE–185) is one of
BEA’s primary data sources for its
estimates of financial services exports
and imports. A U.S. financial services
provider must report if it had sales of
covered services to foreign persons that
exceeded $20 million for the previous
fiscal year or that are expected to exceed
PO 00000
Frm 00005
Fmt 4703
Sfmt 4703
31363
that amount during the current fiscal
year, or if it had purchases of covered
services from foreign persons that
exceeded $15 million for the previous
fiscal year or that are expected to exceed
that amount during the current fiscal
year.
The data are needed to monitor U.S.
trade in financial services, to analyze
the impact of U.S. trade on the U.S. and
foreign economies, to compile and
improve the U.S. economic accounts, to
support U.S. commercial policy on trade
in services, to conduct trade promotion,
and to improve the ability of U.S.
businesses to identify and evaluate
market opportunities. The data are used
in estimating the financial services
component of the U.S. international
transactions accounts (ITAs) and
national income and product accounts
(NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing no additions or
modifications to the current BE–185
survey. The effort to keep current
reporting requirements unchanged is
intended to minimize respondent
burden while considering the needs of
data users. Existing language in the
instructions and definitions will be
reviewed and adjusted as necessary to
clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents
by mail at the end of each fiscal quarter.
Respondents must file completed BE–
185 forms within 45 days after the end
of each fiscal quarter, or within 90 days
after the close of the fiscal year. Reports
are required from each U.S. financial
services provider that had sales of
covered services to foreign persons that
exceeded $20 million for the previous
fiscal year, or that are expected to
exceed that amount during the current
fiscal year, or if it had purchases of
covered services from foreign persons
that exceeded $15 million for the
previous fiscal year, or that are expected
to exceed that amount during the
current fiscal year. Entities required to
report will be contacted individually by
BEA. Entities not contacted by BEA
have no reporting responsibilities.
BEA offers its electronic filing option,
the eFile system, for use in reporting on
Form BE–185. For more information
about eFile, go to www.bea.gov/efile. In
addition, BEA posts all its survey forms
and reporting instructions on its
website, www.bea.gov/ssb. These may
be downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0065.
Form Number: BE–185.
E:\FR\FM\05JYN1.SGM
05JYN1
31364
Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices
Type of Review: Regular submission.
Affected Public: Business or other forprofit organizations.
Estimated Number of Responses:
2,860 annually (715 filed each quarter:
580 reporting mandatory data, and 135
that would file other responses).
Estimated Time per Response: 10
hours is the average for those reporting
data. One hour is the average for those
filing and exemption. Hours may vary
considerably among respondents
because of differences in company size
and complexity.
Estimated Total Annual Burden
Hours: 23,740.
Estimated Total Annual Cost to
Public: $0.
Respondent’s Obligation: Mandatory.
Legal Authority: International
Investment and Trade in Services
Survey Act (Pub. L. 94–472, 22 U.S.C.
3101–3108, as amended) and Section
5408 of the Omnibus Trade and
Competitiveness Act of 1988.
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 will
have 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.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of
Chief Information Officer.
[FR Doc. 2018–14420 Filed 7–3–18; 8:45 am]
amozie on DSK3GDR082PROD with NOTICES1
BILLING CODE 3510–06–P
VerDate Sep<11>2014
16:43 Jul 03, 2018
Jkt 244001
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection;
Comment Request; Services Surveys:
BE–125, Quarterly Survey of
Transactions in Selected Services and
Intellectual Property With Foreign
Persons
Bureau of Economic Analysis,
Department of Commerce.
ACTION: Notice.
AGENCY:
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.
DATES: Written comments must be
submitted on or before September 4,
2018.
ADDRESSES: Direct all written comments
to Jennifer Jessup, Departmental
Paperwork Clearance Officer,
Department of Commerce, Room 6616,
14th and Constitution Avenue NW,
Washington, DC 20230, or via email at
PRAcomments@doc.gov.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the information collection
instrument and instructions should be
directed to Christopher Stein, Chief,
Services Surveys Branch BE–50 (SSB),
Bureau of Economic Analysis, U.S.
Department of Commerce, Washington,
DC 20233; phone: (301) 278–9189; fax:
(301) 278–9507; or via email at
christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
I. Abstract
The Quarterly Survey of Transactions
in Selected Services and Intellectual
Property with Foreign Persons (BE–125)
is a survey that collects data from U.S.
persons who engage in covered
transactions with foreign persons in
selected services or intellectual
property. A Person means any
individual, branch, partnership,
associated group, association, estate,
trust, corporation, or other organization
(whether or not organized under the
laws of any State), and any government,
(including a foreign government, the
United States Government, a State or
local government, and any agency,
corporation, financial institution, or
other entity or instrumentality thereof,
including a government sponsored
agency). A U.S. person must report if it
had sales of covered services or
PO 00000
Frm 00006
Fmt 4703
Sfmt 4703
intellectual property to foreign persons
that exceeded $6 million for the
previous fiscal year, or are expected to
exceed that amount during the current
fiscal year, or if it had purchases of
covered services or intellectual property
from foreign persons that exceeded $4
million for the previous fiscal year, or
are expected to exceed that amount
during the current fiscal year.
The data are needed to monitor U.S.
trade in services, to analyze the impact
on the U.S. and foreign economies, to
compile and improve the U.S. economic
accounts, to support U.S. commercial
policy on trade in services, to conduct
trade promotion, and to improve the
ability of U.S. businesses to identify and
evaluate market opportunities. The data
are used in estimating the services
component of the U.S. international
transactions accounts (ITAs) and
national income and product accounts
(NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing one change to the
reporting requirements and several
modifications to the data collected on
the BE–125 survey, beginning with
reporting for first quarter 2019. These
modifications would allow BEA to align
its statistics more closely with
international economic accounting
guidelines, increasing the quality and
usefulness of BEA’s published statistics
on trade in services:
BEA proposes to adjust the reporting
requirements of the survey so they are
applied based on ‘‘combined’’
thresholds. Currently, the reporting
requirements for the BE–125 survey are
applied based on the dollar amount of
each covered transaction type collected
on the survey. For example, a reporter
with transactions in several of the
services and intellectual property
categories covered by the survey may
only exceed the threshold for
mandatorily reporting additional detail
by country, and by relationship to the
foreign transactor (foreign affiliate,
foreign parent group, or unaffiliated), for
a single transaction type. Under this
approach, the reporter is only required
to report this additional detail on the
mandatory schedule(s) for the single
transaction type in excess of the $6
million (sales) or $4 million (purchases)
threshold.
The proposed change would modify
the reporting thresholds such that they
are applied based on a ‘‘combined’’
threshold for sales or purchases of the
covered types of services and
intellectual property transactions. U.S.
persons with combined sales in excess
of $6 million or combined purchases in
excess of $4 million would be required
to disaggregate all transaction types by
E:\FR\FM\05JYN1.SGM
05JYN1
]]>Agencies
[Federal Register Volume 83, Number 129 (Thursday, July 5, 2018)]
[Notices]
[Pages 31363-31364]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-14420]
-----------------------------------------------------------------------
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Proposed Information Collection; Comment Request; Services
Surveys: BE-185, Quarterly Survey of Financial Services Transactions
Between U.S. Financial Services Providers and Foreign Persons
AGENCY: Bureau of Economic Analysis, Department of Commerce.
ACTION: Notice.
-----------------------------------------------------------------------
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.
DATES: Written comments must be submitted on or before September 4,
2018.
ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th
and Constitution Avenue NW, Washington, DC 20230, or via email at
[email protected].
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the information collection instrument and instructions should
be directed to Christopher Stein, Chief, Services Surveys Branch (SSB)
BE-50, Bureau of Economic Analysis, U.S. Department of Commerce,
Washington, DC 20233; phone: (301) 278-9189; fax: (301) 278-9507; or
via email at: [email protected].
SUPPLEMENTARY INFORMATION:
I. Abstract
The Quarterly Survey of Financial Services Transactions between
U.S. Financial Services Providers and Foreign Persons (BE-185) is one
of BEA's primary data sources for its estimates of financial services
exports and imports. A U.S. financial services provider must report if
it had sales of covered services to foreign persons that exceeded $20
million for the previous fiscal year or that are expected to exceed
that amount during the current fiscal year, or if it had purchases of
covered services from foreign persons that exceeded $15 million for the
previous fiscal year or that are expected to exceed that amount during
the current fiscal year.
The data are needed to monitor U.S. trade in financial services, to
analyze the impact of U.S. trade on the U.S. and foreign economies, to
compile and improve the U.S. economic accounts, to support U.S.
commercial policy on trade in services, to conduct trade promotion, and
to improve the ability of U.S. businesses to identify and evaluate
market opportunities. The data are used in estimating the financial
services component of the U.S. international transactions accounts
(ITAs) and national income and product accounts (NIPAs).
The Bureau of Economic Analysis (BEA) is proposing no additions or
modifications to the current BE-185 survey. The effort to keep current
reporting requirements unchanged is intended to minimize respondent
burden while considering the needs of data users. Existing language in
the instructions and definitions will be reviewed and adjusted as
necessary to clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents by mail at the end of each
fiscal quarter. Respondents must file completed BE-185 forms within 45
days after the end of each fiscal quarter, or within 90 days after the
close of the fiscal year. Reports are required from each U.S. financial
services provider that had sales of covered services to foreign persons
that exceeded $20 million for the previous fiscal year, or that are
expected to exceed that amount during the current fiscal year, or if it
had purchases of covered services from foreign persons that exceeded
$15 million for the previous fiscal year, or that are expected to
exceed that amount during the current fiscal year. Entities required to
report will be contacted individually by BEA. Entities not contacted by
BEA have no reporting responsibilities.
BEA offers its electronic filing option, the eFile system, for use
in reporting on Form BE-185. For more information about eFile, go to
www.bea.gov/efile. In addition, BEA posts all its survey forms and
reporting instructions on its website, www.bea.gov/ssb. These may be
downloaded, completed, printed, and submitted via fax or mail.
III. Data
OMB Control Number: 0608-0065.
Form Number: BE-185.
[[Page 31364]]
Type of Review: Regular submission.
Affected Public: Business or other for-profit organizations.
Estimated Number of Responses: 2,860 annually (715 filed each
quarter: 580 reporting mandatory data, and 135 that would file other
responses).
Estimated Time per Response: 10 hours is the average for those
reporting data. One hour is the average for those filing and exemption.
Hours may vary considerably among respondents because of differences in
company size and complexity.
Estimated Total Annual Burden Hours: 23,740.
Estimated Total Annual Cost to Public: $0.
Respondent's Obligation: Mandatory.
Legal Authority: International Investment and Trade in Services
Survey Act (Pub. L. 94-472, 22 U.S.C. 3101-3108, as amended) and
Section 5408 of the Omnibus Trade and Competitiveness Act of 1988.
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 will have 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.
Sheleen Dumas,
Departmental Lead PRA Officer, Office of Chief Information Officer.
[FR Doc. 2018-14420 Filed 7-3-18; 8:45 am]
BILLING CODE 3510-06-P
