[Federal Register: July 7, 2003 (Volume 68, Number 129)]
[Notices]               
[Page 40240]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr07jy03-47]                         

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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis

 
Proposal To Collect Information on 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 September 5, 
2003.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Office of the Chief Information Officer, 
Department of Commerce, Room 6625, 14th and Constitution Avenue, NW., 
Washington, DC 20230, or via the Internet at dHynek@doc.gov.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instruments and instructions 
should be directed to: Obie G. Whichard, U.S. Department of Commerce, 
Bureau of Economic Analysis, BE-50 (OC), Washington, DC 20230, or via 
the Internet at Obie.Whichard@bea.gov (Telephone: 202-606-9890).

SUPPLEMENTARY INFORMATION: 

I. Abstract

    The Annual Survey of Financial Services Transactions Between U.S. 
Financial Services Providers and Unaffiliated Foreign Persons (Form BE-
82) obtains information on U.S. sales to and purchases from 
unaffiliated foreign persons of financial 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. No changes are 
proposed for Form BE-82.

II. Method of Collection

    Form BE-82 will be sent each year to potential respondents in 
January and responses are due by March 31. A U.S. person that provides 
financial services and has financial services transactions with 
unaffiliated foreign persons is required to report if total sales or 
purchases of covered financial services transactions are more than $10 
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 financial services transactions with unaffiliated foreign 
persons.
    Estimated Number of Respondents: 300 annually.
    Estimated Time Per Response: 7 hours.
    Estimated Total Annual Burden: 2,100 hours.
    Estimated Total Annual Cost: $63,000 (based on an estimated 
reporting burden of 2,100 hours and estimated hourly cost of $30).
    Respondent's Obligation: Mandatory.
    Legal Authority: Title 22, U.S.C., Sections 3101-3108.

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 will also become a matter of public record.

    Dated: July 1, 2003.
Madeleine Clayton,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 03-17046 Filed 7-3-03; 8:45 am]

BILLING CODE 3510-06-P