83_FR_31492 83 FR 31363 - Proposed Information Collection; Comment Request; Services Surveys: BE-185, Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons

83 FR 31363 - Proposed Information Collection; Comment Request; Services Surveys: BE-185, Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons

DEPARTMENT OF COMMERCE
Bureau of Economic Analysis

Federal Register Volume 83, Issue 129 (July 5, 2018)

Page Range31363-31364
FR Document2018-14420

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.

Federal Register, Volume 83 Issue 129 (Thursday, July 5, 2018) 
[Federal Register Volume 83, Number 129 (Thursday, July 5, 2018)]
[Notices]
[Pages 31363-31364]
From the Federal Register Online  [www.thefederalregister.org]
[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

Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices 31363 contacted by BEA have no reporting they also will become a matter of public that amount during the current fiscal responsibilities. record. year, or if it had purchases of covered BEA offers electronic filing through services from foreign persons that Sheleen Dumas, its eFile system for use in reporting on exceeded $15 million for the previous Departmental Lead PRA Officer, Office of fiscal year or that are expected to exceed the BE–9 quarterly survey form. For Chief Information Officer. information about eFile, go to that amount during the current fiscal [FR Doc. 2018–14422 Filed 7–3–18; 8:45 am] year. www.bea.gov/efile. In addition, BEA BILLING CODE 3510–06–P The data are needed to monitor U.S. posts all its survey forms and reporting trade in financial services, to analyze instructions on its website, the impact of U.S. trade on the U.S. and www.bea.gov/ssb. These may be DEPARTMENT OF COMMERCE foreign economies, to compile and downloaded, completed, printed, and improve the U.S. economic accounts, to submitted via fax or mail. Bureau of Economic Analysis support U.S. commercial policy on trade III. Data Proposed Information Collection; in services, to conduct trade promotion, Comment Request; Services Surveys: and to improve the ability of U.S. OMB Control Number: 0608–0068. BE–185, Quarterly Survey of Financial businesses to identify and evaluate Form Number: BE–9. Services Transactions Between U.S. market opportunities. The data are used Financial Services Providers and in estimating the financial services Type of Review: Regular submission. Foreign Persons component of the U.S. international Affected Public: Business or other for- transactions accounts (ITAs) and profit organizations. AGENCY: Bureau of Economic Analysis, national income and product accounts Estimated Number of Responses: 180 Department of Commerce. (NIPAs). annually (45 filed each quarter: 44 ACTION: Notice. The Bureau of Economic Analysis reporting mandatory data, and one that (BEA) is proposing no additions or SUMMARY: The Department of modifications to the current BE–185 would file an exemption claim). Commerce, as part of its continuing survey. The effort to keep current Estimated Time Per Response: 6 hours effort to reduce paperwork and reporting requirements unchanged is is the average for those reporting data. respondent burden, invites the general intended to minimize respondent One hour is the average for those filing public and other Federal agencies to burden while considering the needs of an exemption claim. Hours may vary comment on proposed and/or data users. Existing language in the considerably among respondents continuing information collections, as instructions and definitions will be because of differences in the volume required by the Paperwork Reduction reviewed and adjusted as necessary to and complexity of information on the Act of 1995. clarify survey requirements. foreign air carriers represented by the DATES: Written comments must be reporter. submitted on or before September 4, II. Method of Collection Estimated Total Annual Burden 2018. BEA contacts potential respondents Hours: 1,060. by mail at the end of each fiscal quarter. ADDRESSES: Direct all written comments Estimated Total Annual Cost to Respondents must file completed BE– to Jennifer Jessup, Departmental Public: $0. 185 forms within 45 days after the end Paperwork Clearance Officer, of each fiscal quarter, or within 90 days Respondent’s Obligation: Mandatory. Department of Commerce, Room 6616, after the close of the fiscal year. Reports 14th and Constitution Avenue NW, Legal Authority: International are required from each U.S. financial Washington, DC 20230, or via email at Investment and Trade in Services services provider that had sales of PRAcomments@doc.gov. Survey Act (Pub.L. 94–472, 22 U.S.C. covered services to foreign persons that FOR FURTHER INFORMATION CONTACT: 3101–3108, as amended). exceeded $20 million for the previous Requests for additional information or fiscal year, or that are expected to IV. Request for Comments copies of the information collection exceed that amount during the current instrument and instructions should be fiscal year, or if it had purchases of Comments are invited on: (a) Whether directed to Christopher Stein, Chief, the proposed collection of information covered services from foreign persons Services Surveys Branch (SSB) BE–50, that exceeded $15 million for the is necessary for the proper performance Bureau of Economic Analysis, U.S. of the functions of the Agency, previous fiscal year, or that are expected Department of Commerce, Washington, to exceed that amount during the including whether the information will DC 20233; phone: (301) 278–9189; fax: have practical utility; (b) the accuracy of current fiscal year. Entities required to (301) 278–9507; or via email at: report will be contacted individually by the Agency’s estimate of the burden christopher.stein@bea.gov. (including hours and cost) of the BEA. Entities not contacted by BEA SUPPLEMENTARY INFORMATION: have no reporting responsibilities. proposed collection of information; (c) ways to enhance the quality, utility, and I. Abstract BEA offers its electronic filing option, clarity of the information to be the eFile system, for use in reporting on The Quarterly Survey of Financial Form BE–185. For more information collected; and (d) ways to minimize the Services Transactions between U.S. burden of the collection of information about eFile, go to www.bea.gov/efile. In Financial Services Providers and addition, BEA posts all its survey forms on respondents, including through the Foreign Persons (BE–185) is one of and reporting instructions on its amozie on DSK3GDR082PROD with NOTICES1 use of automated collection techniques BEA’s primary data sources for its or other forms of information website, www.bea.gov/ssb. These may estimates of financial services exports be downloaded, completed, printed, and technology. and imports. A U.S. financial services submitted via fax or mail. Comments submitted in response to provider must report if it had sales of this notice will be summarized and/or covered services to foreign persons that III. Data included in the request for OMB exceeded $20 million for the previous OMB Control Number: 0608–0065. approval of this information collection; fiscal year or that are expected to exceed Form Number: BE–185. VerDate Sep<11>2014 16:43 Jul 03, 2018 Jkt 244001 PO 00000 Frm 00005 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1

31364 Federal Register / Vol. 83, No. 129 / Thursday, July 5, 2018 / Notices Type of Review: Regular submission. DEPARTMENT OF COMMERCE intellectual property to foreign persons Affected Public: Business or other for- that exceeded $6 million for the Bureau of Economic Analysis previous fiscal year, or are expected to profit organizations. exceed that amount during the current Estimated Number of Responses: Proposed Information Collection; fiscal year, or if it had purchases of 2,860 annually (715 filed each quarter: Comment Request; Services Surveys: covered services or intellectual property 580 reporting mandatory data, and 135 BE–125, Quarterly Survey of from foreign persons that exceeded $4 that would file other responses). Transactions in Selected Services and million for the previous fiscal year, or Intellectual Property With Foreign are expected to exceed that amount Estimated Time per Response: 10 Persons during the current fiscal year. hours is the average for those reporting data. One hour is the average for those AGENCY: Bureau of Economic Analysis, The data are needed to monitor U.S. filing and exemption. Hours may vary Department of Commerce. trade in services, to analyze the impact ACTION: Notice. on the U.S. and foreign economies, to considerably among respondents compile and improve the U.S. economic because of differences in company size SUMMARY: The Department of accounts, to support U.S. commercial and complexity. policy on trade in services, to conduct Commerce, as part of its continuing Estimated Total Annual Burden effort to reduce paperwork and trade promotion, and to improve the Hours: 23,740. respondent burden, invites the general ability of U.S. businesses to identify and Estimated Total Annual Cost to public and other Federal agencies to evaluate market opportunities. The data Public: $0. comment on proposed and/or are used in estimating the services continuing information collections, as component of the U.S. international Respondent’s Obligation: Mandatory. required by the Paperwork Reduction transactions accounts (ITAs) and Legal Authority: International Act of 1995. national income and product accounts Investment and Trade in Services DATES: Written comments must be (NIPAs). Survey Act (Pub. L. 94–472, 22 U.S.C. submitted on or before September 4, The Bureau of Economic Analysis 3101–3108, as amended) and Section 2018. (BEA) is proposing one change to the 5408 of the Omnibus Trade and reporting requirements and several ADDRESSES: Direct all written comments Competitiveness Act of 1988. modifications to the data collected on to Jennifer Jessup, Departmental the BE–125 survey, beginning with IV. Request for Comments Paperwork Clearance Officer, reporting for first quarter 2019. These Department of Commerce, Room 6616, modifications would allow BEA to align Comments are invited on: (a) Whether 14th and Constitution Avenue NW, its statistics more closely with the proposed collection of information Washington, DC 20230, or via email at international economic accounting is necessary for the proper performance PRAcomments@doc.gov. guidelines, increasing the quality and of the functions of the Agency, FOR FURTHER INFORMATION CONTACT: usefulness of BEA’s published statistics including whether the information will Requests for additional information or on trade in services: have practical utility; (b) the accuracy of copies of the information collection BEA proposes to adjust the reporting the Agency’s estimate of the burden instrument and instructions should be requirements of the survey so they are (including hours and cost) of the directed to Christopher Stein, Chief, applied based on ‘‘combined’’ proposed collection of information; (c) Services Surveys Branch BE–50 (SSB), thresholds. Currently, the reporting ways to enhance the quality, utility, and Bureau of Economic Analysis, U.S. requirements for the BE–125 survey are clarity of the information to be Department of Commerce, Washington, applied based on the dollar amount of collected; and (d) ways to minimize the DC 20233; phone: (301) 278–9189; fax: each covered transaction type collected burden of the collection of information (301) 278–9507; or via email at on the survey. For example, a reporter christopher.stein@bea.gov. with transactions in several of the on respondents, including through the SUPPLEMENTARY INFORMATION: services and intellectual property use of automated collection techniques categories covered by the survey may or other forms of information I. Abstract only exceed the threshold for technology. The Quarterly Survey of Transactions mandatorily reporting additional detail Comments submitted in response to in Selected Services and Intellectual by country, and by relationship to the this notice will be summarized and/or Property with Foreign Persons (BE–125) foreign transactor (foreign affiliate, included in the request for OMB is a survey that collects data from U.S. foreign parent group, or unaffiliated), for approval of this information collection; persons who engage in covered a single transaction type. Under this they also will become a matter of public transactions with foreign persons in approach, the reporter is only required record. selected services or intellectual to report this additional detail on the property. A Person means any mandatory schedule(s) for the single Sheleen Dumas, individual, branch, partnership, transaction type in excess of the $6 Departmental Lead PRA Officer, Office of associated group, association, estate, million (sales) or $4 million (purchases) Chief Information Officer. trust, corporation, or other organization threshold. [FR Doc. 2018–14420 Filed 7–3–18; 8:45 am] (whether or not organized under the The proposed change would modify BILLING CODE 3510–06–P laws of any State), and any government, the reporting thresholds such that they (including a foreign government, the are applied based on a ‘‘combined’’ amozie on DSK3GDR082PROD with NOTICES1 United States Government, a State or threshold for sales or purchases of the local government, and any agency, covered types of services and corporation, financial institution, or intellectual property transactions. U.S. other entity or instrumentality thereof, persons with combined sales in excess including a government sponsored of $6 million or combined purchases in agency). A U.S. person must report if it excess of $4 million would be required had sales of covered services or to disaggregate all transaction types by VerDate Sep<11>2014 16:43 Jul 03, 2018 Jkt 244001 PO 00000 Frm 00006 Fmt 4703 Sfmt 4703 E:\FR\FM\05JYN1.SGM 05JYN1


Document Created: 2018-07-03 23:40:06
Document Modified: 2018-07-03 23:40:06
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesWritten comments must be submitted on or before September 4, 2018.
ContactRequests 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]
FR Citation83 FR 31363 
2025 Federal Register | Disclaimer | Privacy Policy
USC | CFR | eCFR