83 FR 48415 - Submission for OMB Review; Comment Request
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis Federal Register Volume 83, Issue 186 (September 25, 2018)
Bureau of Economic Analysis
Federal Register Volume 83, Issue 186 (September 25, 2018)
| Page Range | 48415-48415 | |
| FR Document | 2018-20787 |
[Federal Register Volume 83, Number 186 (Tuesday, September 25, 2018)] [Notices] [Page 48415] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2018-20787] ----------------------------------------------------------------------- DEPARTMENT OF COMMERCE Bureau of Economic Analysis Submission for OMB Review; Comment Request The Department of Commerce will submit 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 (BEA), Department of Commerce. Title: Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons. OMB Control Number: 0608-0065. Form Number: BE-185. Type of Request: Regular submission. Number of Responses: 2,860 annually (715 filed each quarter; 580 reporting mandatory data, and 135 that would file other responses). Average Hours per Response: 10 hours is the average for those reporting data and one hour is the average for those filing an exemption or providing voluntary responses, but hours may vary considerably among respondents because of differences in company size and complexity. Estimated Total Annual Burden Hours: 23,740. Needs and Uses: 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 they had sales of covered services to foreign persons that exceeded $20 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 from foreign persons that exceeded $15 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 financial services, to analyze the impact of these cross-border services 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 not making any 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. Affected Public: Businesses or other for-profit organizations. Frequency: Quarterly. Respondent's Obligation: Mandatory. OMB Desk Officer: Robert Sivinski, (202) 395-1205. This information collection request may be viewed at reginfo.gov http://www.reginfo.gov/public/. Follow the instructions to view Department of Commerce collections currently under review by OMB. Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to [email protected]. Sheleen Dumas, Departmental Lead PRA Officer, Office of the Chief Information Officer. [FR Doc. 2018-20787 Filed 9-24-18; 8:45 am] BILLING CODE 3510-06-P
![Federal Register / Vol. 83, No. 186 / Tuesday, September 25, 2018 / Notices 48415
Number of Responses: 2,200 annually burden while considering the needs of Transactions between U.S. Financial
(550 filed each quarter; 515 reporting data users. Existing language in the Services Providers and Foreign Persons
mandatory or voluntary data, and 35 instructions and definitions will be (BE–185) is one of BEA’s primary data
that would not report data). reviewed and adjusted as necessary to sources for its estimates of financial
Average Hours per Response: 9 hours clarify survey requirements. services exports and imports. A U.S.
is the average for those reporting data Affected Public: Businesses or other financial services provider must report
and one hour is the average for those for-profit organizations. if they had sales of covered services to
filing an exemption, but hours may vary Frequency: Quarterly. foreign persons that exceeded $20
considerably among respondents Respondent’s Obligation: Mandatory. million for the previous fiscal year, or
because of differences in company size OMB Desk Officer: Robert Sivinski, are expected to exceed that amount
and complexity. (202) 395–1205. during the current fiscal year, or if it
Estimated Total Annual Burden This information collection request had purchases of covered services from
Hours: 18,680. may be viewed at http:// foreign persons that exceeded $15
Needs and Uses: The Quarterly www.reginfo.gov/public/. Follow the million for the previous fiscal year, or
Survey of Insurance Transactions by instructions to view Department of are expected to exceed that amount
U.S. Insurance Companies with Foreign Commerce collections currently under during the current fiscal year.
Persons (BE–45) is one of BEA’s primary review by OMB.
data sources for its estimates of Written comments and The data are needed to monitor U.S.
insurance services exports and imports. recommendations for the proposed trade in financial services, to analyze
A U.S. insurance company must report information collection should be sent the impact of these cross-border services
if it had transactions with foreign within 30 days of publication of this on the U.S. and foreign economies, to
persons, in any of the data items notice to OIRA_Submission@ compile and improve the U.S. economic
covered by the survey, that exceeded $8 omb.eop.gov. accounts, to support U.S. commercial
million (positive or negative) in the policy on trade in services, to conduct
prior calendar year, or are expected to Sheleen Dumas, trade promotion, and to improve the
exceed that amount during the current Departmental Lead PRA Officer, Office of ability of U.S. businesses to identify and
calendar year. Chief Information Officer. evaluate market opportunities. The data
The data are needed to monitor U.S. [FR Doc. 2018–20783 Filed 9–24–18; 8:45 am] are used in estimating the financial
trade in insurance services, to analyze BILLING CODE 3510–06–P services component of the U.S.
the impact of these cross-border services international transactions accounts
on the U.S. and foreign economies, to (ITAs) and national income and product
compile and improve the U.S. economic DEPARTMENT OF COMMERCE accounts (NIPAs).
accounts, to support U.S. commercial The Bureau of Economic Analysis
policy on trade in services, to conduct Bureau of Economic Analysis
(BEA) is not making any modifications
trade promotion, and to improve the to the current BE–185 survey. The effort
Submission for OMB Review;
ability of U.S. businesses to identify and to keep current reporting requirements
Comment Request
evaluate market opportunities. The data unchanged is intended to minimize
are used in estimating the insurance The Department of Commerce will respondent burden while considering
services component of the U.S. submit to the Office of Management and the needs of data users. Existing
international transactions accounts Budget (OMB) for clearance the language in the instructions and
(ITAs) and national income and product following proposal for collection of definitions will be reviewed and
accounts (NIPAs). information under the provisions of the adjusted as necessary to clarify survey
The Bureau of Economic Analysis Paperwork Reduction Act (44 U.S.C. requirements.
(BEA) is implementing one change to chapter 35).
the data collected on the BE–45 survey, Affected Public: Businesses or other
Agency: Bureau of Economic Analysis
beginning with reporting for first quarter for-profit organizations.
(BEA), Department of Commerce.
2019, which will allow BEA to improve Title: Quarterly Survey of Financial Frequency: Quarterly.
the accuracy of our quarterly statistics Services Transactions between U.S. Respondent’s Obligation: Mandatory.
on insurance services exports and Financial Services Providers and
OMB Desk Officer: Robert Sivinski,
imports. Foreign Persons.
Schedule B of the BE–45 survey, (202) 395–1205.
OMB Control Number: 0608–0065.
which currently collects annual data on Form Number: BE–185. This information collection request
primary insurance premiums and losses, Type of Request: Regular submission. may be viewed at reginfo.gov http://
reinsurance losses, and auxiliary Number of Responses: 2,860 annually www.reginfo.gov/public/. Follow the
insurance services receipts and (715 filed each quarter; 580 reporting instructions to view Department of
payments, on a mandatory basis in the mandatory data, and 135 that would file Commerce collections currently under
fourth quarter of the year, will now be other responses). review by OMB.
collected on a mandatory basis every Average Hours per Response: 10 Written comments and
quarter. hours is the average for those reporting recommendations for the proposed
BEA estimates the proposed changes, data and one hour is the average for information collection should be sent
being implemented beginning with those filing an exemption or providing within 30 days of publication of this
reporting for first quarter 2019, will voluntary responses, but hours may vary notice to OIRA_Submission@
daltland on DSKBBV9HB2PROD with NOTICES
increase the average number of hours considerably among respondents omb.eop.gov.
per response from 8 hours to 9 hours for because of differences in company size
those reporting data. The reporting and complexity. Sheleen Dumas,
thresholds of the current BE–45 survey Estimated Total Annual Burden Departmental Lead PRA Officer, Office of the
will be retained. The effort to keep Hours: 23,740. Chief Information Officer.
current reporting thresholds unchanged Needs and Uses: The Quarterly [FR Doc. 2018–20787 Filed 9–24–18; 8:45 am]
is intended to minimize respondent Survey of Financial Services BILLING CODE 3510–06–P
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Document Created: 2018-09-25 00:21:45
Document Modified: 2018-09-25 00:21:45
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| FR Citation | 83 FR 48415 |
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