[Federal Register: September 18, 2008 (Volume 73, Number 182)]
[Proposed Rules]
[Page 54095-54097]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr18se08-24]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
15 CFR Part 801
[Docket No. 0807311000-81013-01]
RIN 0691-AA67
International Services Surveys: BE-150, Quarterly Survey of
Cross-Border Credit, Debit, and Charge Card Transactions
AGENCY: Bureau of Economic Analysis, Commerce.
ACTION: Notice of proposed rulemaking.
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SUMMARY: This proposed rule amends regulations of the Bureau of
Economic Analysis, Department of Commerce (BEA) to set forth the
reporting requirements for a new mandatory survey entitled the BE-150,
Quarterly Survey of Cross-Border Credit, Debit, and Charge Card
Transactions. The proposed survey would collect from major U.S. credit
card companies data on cross-border credit, debit, and charge card
transactions between U.S. cardholders traveling abroad and foreign
businesses and between foreign cardholders traveling in the United
States and U.S. businesses. If approved, the BE-150 survey would be
conducted on a quarterly basis beginning with the first quarter of
2009.
The proposed BE-150 survey data will be used by BEA in estimating
the travel component of the U.S. International Transactions Accounts
(ITAs). In constructing the estimates, these data will be used in
conjunction with data BEA will collect separately from U.S. and foreign
travelers on the Survey of International Travel Expenditures on the
methods these travelers used to pay for their international travel,
such as credit, debit, and charge card purchases, cash withdrawals,
currency brought from home, and travelers' checks.
DATES: Comments on this proposed rule will receive consideration if
submitted in writing on or before 5 p.m. November 17, 2008.
ADDRESSES: You may submit comments, identified by RIN 0691-AA67, and
referencing the agency name (Bureau of Economic Analysis), by any of
the following methods:
Federal eRulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments. For agency, select
``Commerce Department--all.''
E-mail: Christopher.Emond@bea.gov.
Fax: Chris Emond, Chief, Special Surveys Branch, (202)
606-5318.
Mail: Chris Emond, Chief, Special Surveys Branch, Balance
of Payments Division, U.S. Department of Commerce, Bureau of Economic
Analysis, BE-50, Washington, DC 20230.
Hand Delivery/Courier: Chris Emond, Chief, Special Surveys
Branch, Balance of Payments Division, U.S. Department of Commerce,
Bureau of Economic Analysis, BE-50, Shipping and Receiving Section,
M100, 1441 L Street, NW., Washington, DC 20005.
Written comments regarding the burden-hour estimates or other
aspects of the collection-of-information requirements contained in the
proposed rule should be sent both to BEA, through any of the methods
listed above, and to the Office of Management and Budget, O.I.R.A.,
Paperwork Reduction Project, Attention PRA Desk Officer for BEA, via e-
mail at pbugg@omb.eop.gov, or by FAX at 202-395-7245.
Public Inspection: All comments received are a part of the public
record and will generally be posted to http://www.regulations.gov
without change. All personal identifying information (for example,
name, address, etc.) voluntarily submitted by the commentator may be
publicly accessible. Do not submit confidential business information or
otherwise sensitive or protected information. BEA will accept anonymous
comments.
FOR FURTHER INFORMATION CONTACT: Chris Emond, Chief, Special Surveys
Branch, Balance of Payments Division (BE-50), Bureau of Economic
Analysis, U.S. Department of Commerce, Washington, DC 20230; e-mail
Christopher.Emond@bea.gov; or phone (202) 606-9826.
SUPPLEMENTARY INFORMATION: This proposed rule would amend 15 CFR Part
801.9 to add the reporting requirements for a new mandatory survey
entitled BE-150, Quarterly Survey of Cross-Border Credit, Debit, and
Charge Card Transactions. 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.
Description of Changes
The proposed BE-150 survey would be a mandatory survey that would
be conducted by BEA, beginning with transactions for the first quarter
of 2009, under the International Investment and Trade in Services
Survey Act (22 U.S.C. 3101-3108), hereinafter, ``the Act.'' For the
initial quarter of coverage, BEA would send the survey to potential
respondents in March of 2009; responses would be due by April 30, 2009.
BEA maintains a continuing dialogue with respondents and with data
users, including its own internal users, to ensure that, as far as
possible, the required data serve their intended purposes and are
available from the existing records, that instructions are clear, and
that unreasonable burdens are not imposed. In reaching decisions on
what questions to include in the survey, BEA considered the
Government's need for the data, the burden imposed on respondents, the
quality of the likely responses (for example, whether the data are
available on respondents' books), and BEA's experience in previous
annual and quarterly surveys.
If implemented, the BE-150 survey would collect from the U.S.
credit card companies data covering cross-border credit, debit, and
charge card transactions between U.S. cardholders traveling abroad and
foreign businesses and between foreign cardholders traveling in the
United States and U.S. businesses--by country of the transaction (for
U.S. cardholders) or by country of residency of the cardholder
[[Page 54096]]
(for foreign cardholders). Credit card companies that operate networks
used to clear and settle credit card transactions between issuing banks
and acquiring banks would be responsible for reporting on this survey.
Issuing banks, acquiring banks, and individual cardholders would not be
required to report. Data would be collected by the type of transaction,
by type of card, by spending category, and by country. Data on credit
card transactions of U.S. cardholders traveling abroad and foreign
cardholders traveling in the United States would be collected at an
aggregate level from the U.S. credit card companies; data on the
transactions of individuals would not be collected.
Survey Background
The Bureau of Economic Analysis (BEA), U.S. Department of Commerce,
would conduct the survey under the International Investment and Trade
in Services Survey Act (22 U.S.C. 3101-3108), hereinafter, ``the Act.''
Section 4(a) of the Act (22 U.S.C. 3103(a)) provides that the President
shall, to the extent he deems necessary and feasible, conduct a regular
data collection program to secure current information related to
international investment and trade in services and publish for the use
of the general public and United States Government agencies periodic,
regular, and comprehensive statistical information collected pursuant
to this subsection.
In section 3 of Executive Order 11961, as amended by Executive
Orders 12318 and 12518, the President delegated the responsibilities
under the Act for performing functions concerning international trade
in services to the Secretary of Commerce, who has redelegated them to
BEA.
The survey would provide a basis for compiling the travel account
of the United States international transactions accounts. In
constructing the estimates, these data would be used in conjunction
with data BEA will collect separately from U.S. and foreign travelers
on the Survey of International Travel Expenditures on the methods these
travelers used to pay for international travel expenditures. With the
two data sources, BEA would be able to estimate total expenditures by
foreign travelers in the United States (U.S. exports) and total
expenditures by U.S. travelers abroad (U.S. imports) by country and
region.
Executive Order 12866
This proposed rule has been determined to be not significant for
purposes of E.O. 12866.
Executive Order 13132
This proposed rule does not contain policies with Federalism
implications sufficient to warrant preparation of a Federalism
Assessment under E.O. 13132.
Paperwork Reduction Act
This proposed rule contains a collection-of-information requirement
subject to review and approval by the Office of Management and Budget
(OMB) under the Paperwork Reduction Act. The requirement will be
submitted to OMB as a request for a new collection of information.
Notwithstanding any other provisions of the law, no person is
required to respond to, nor shall any person be subject to a penalty
for failure to comply with, a collection of information subject to the
requirements of the Paperwork Reduction Act unless that collection
displays a currently valid Office of Management and Budget Control
Number.
The BE-150 quarterly survey, as proposed, is expected to result in
the filing of reports from four respondents on a quarterly basis, or 16
reports annually. The respondent burden for this collection of
information would vary from one respondent to another, but is estimated
to average 16 hours per response (64 hours annually), including time
for reviewing the instructions, searching existing data sources,
gathering and maintaining the data needed, and completing and reviewing
the collection of information. Thus, the total respondent burden for
the BE-150 survey is estimated at 260 hours.
Comments are requested concerning: (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 burden estimate; (c)
ways to enhance the quality, utility, and clarity of the information
collected; and (d) ways to minimize the burden of the collection of
information on the respondents, including the use of automated
collection techniques or other forms of information technology.
Written comments regarding the burden-hour estimates or other
aspects of the collection-of-information requirements contained in the
proposed rule should be sent to both BEA and OMB following the
instructions given in the ADDRESSES section above.
Regulatory Flexibility Act
The Chief Counsel for Regulation, Department of Commerce, has
certified to the Chief Counsel for Advocacy, Small Business
Administration, under provisions of the Regulatory Flexibility Act (5
U.S.C. 605(b)), that this proposed rulemaking, if adopted, will not
have a significant economic impact on a substantial number of small
entities. BEA estimates that this rule will not have an impact on any
small entities as the BE-150 survey is mandatory for only those U.S.
credit card companies that operate networks used to clear and settle
credit card transactions between issuing banks and acquiring banks. BEA
estimates that there are only four U.S. credit card companies that are
subject to this rule. Of the four companies, none is considered to be a
small entity under the Small Business Administration's Table of Small
Business Size Standards. All four companies are corporations that
exceed the maximum annual revenue threshold to be considered a small
entity. Because there are no small businesses that are subject to
reporting, the Chief Counsel for Regulation certifies that this
proposed rule would not have a significant economic impact on a
substantial number of small entities.
List of Subjects in 15 CFR Part 801
International transactions, Economic statistics, Foreign trade,
Penalties, Reporting and recordkeeping requirements, Travel expenses,
Cross-Border transactions, Credit card, and Debit card.
Dated: September 8, 2008.
J. Steven Landefeld,
Director, Bureau of Economic Analysis.
For the reasons set forth in the preamble, BEA proposes to amend 15
CFR part 801, as follows:
PART 801--SURVEY OF INTERNATIONAL TRADE IN SERVICES BETWEEN U.S.
AND FOREIGN PERSONS
1. The authority citation for 15 CFR part 801 continues to read as
follows:
Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 22 U.S.C. 3101-3108;
and E.O. 11961, 3 CFR, 1977 Comp., p.86, as amended by E.O. 12318, 3
CFR, 1981 Comp., p. 173, and E.O. 12518, 3 CFR, 1985 Comp., p 348.
2. Amend Sec. 801.9 by adding paragraph (c)(7):
Sec. 801.9 Reports required.
(c) Quarterly surveys. * * *
(7) BE-150, Quarterly Survey of Cross-Border Credit, Debit, and
Charge Card Transactions:
(i) A BE-150, Quarterly Survey of Cross-Border Credit, Debit, and
Charge Card Transactions will be conducted covering the first quarter
of the 2009
[[Page 54097]]
calendar year and every quarter thereafter.
(A) Who must report. A BE-150 report is required from each U.S.
company that operates networks for clearing and settling credit card
transactions made by U.S. cardholders in foreign countries and by
foreign cardholders in the United States. Each reporting company must
complete all applicable parts of the BE-150 form before transmitting it
to BEA. Issuing banks, acquiring banks, and individual cardholders are
not required to report.
(B) Covered Transactions. The BE-150 survey collects aggregate
information on the use of credit, debit, and charge cards by U.S.
cardholders when traveling abroad and foreign cardholders when
traveling in the United States. Data are collected by the type of
transaction, by type of card, by spending category, and by country.
(ii) [Reserved]
[FR Doc. E8-21896 Filed 9-17-08; 8:45 am]
BILLING CODE 3510-06-P