[Federal Register: March 20, 2006 (Volume 71, Number 53)]
[Notices]
[Page 13960-13961]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr20mr06-20]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Quarterly 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 5 p.m. May 19,
2006.
ADDRESSES: Direct all written comments to Diane Hynek, Departmental
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th
and Constitution Avenue, NW., Washington, DC 20230, or via the Internet
at dhynek@doc.gov, ((202) 482-0266).
FOR FURTHER INFORMATION CONTACT: Direct requests for additional
information or copies of the survey and instructions to Christopher
Emond, Chief, Special Surveys Branch, International Investment
Division, (BE-50), Bureau of Economic Analysis, U.S. Department of
Commerce, Washington, DC 20230; phone: (202) 606-9826; fax: (202) 606-
5318; or via the Internet at christopher.emond@bea.gov.
SUPPLEMENTARY INFORMATION:
I. Abstract
Form BE-85, Quarterly Survey of Financial Services Transactions
Between U.S. Financial Services Providers and Unaffiliated Foreign
Persons, obtains quarterly data from financial services providers that
have receipts from or payments to unaffiliated foreign persons in the
financial services covered by the survey. The data are needed to
monitor trade in financial services, analyze its impact on the U.S. and
foreign economies, compile and improve the U.S. economic accounts,
support U.S. commercial policy on financial services, conduct trade
promotion, and improve the ability of U.S. businesses to identify and
evaluate market opportunities.
The data from the survey are primarily intended as general purpose
statistics. They are needed to answer any number of research and policy
questions related to cross-border trade in services.
The form remains the same as in the past. No changes in the data
collected or in exemption levels are proposed.
II. Method of Collection
Survey forms will be sent to U.S. companies each quarter; responses
will be due within 45 days after the close of each fiscal quarter,
except for the final quarter of the fiscal year, when the reports are
due within 90 days after the close of the quarter. Potential
respondents are U.S. financial services providers that have receipts
from unaffiliated foreign persons in the financial services covered by
the survey greater than $20 million for the prior calendar year or that
are expected to be greater than $20 million in the current calendar
year; or that have payments to unaffiliated foreign persons in the
financial services covered by the survey greater than $15 million for
the prior calendar year or that are expected to be greater than $15
million in the current calendar year . The data collected are cut-off
sample data. In addition, estimates are developed based upon previously
reported or estimated data for non-respondents, including those
companies that fall below the reporting threshold for the survey.
III. Data
OMB Number: 0608-0065.
Form Number: BE-85.
Type of Review: Regular submission.
Affected Public: U.S. financial services companies that transact
financial services with unaffiliated foreign persons.
Estimated Number of Respondents: 125 per quarter; 500 annually.
[[Page 13961]]
Estimated Time Per Response: 10 hours.
Estimated Total Annual Burden Hours: 5,000 hours.
Estimated Total Annual Cost: $200,000 (based on an estimated
reporting burden of 5,000 hours and an estimated hourly cost of $40).
Respondent's Obligation: Mandatory.
Legal Authority: The International Investment and Trade in
Services Survey Act, 22 U.S.C. 3101-3108, as amended.
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.
Dated: March 14, 2006.
Madeleine Clayton,
Management Analyst, Office of Chief Information Officer.
[FR Doc. E6-3948 Filed 3-17-06; 8:45 am]
BILLING CODE 3510-06-P