69508 Federal Register / Vol. 69, No. 229 / Tuesday, November 30, 2004 / Rules and Regulations 

PART 97—STANDARD INSTRUMENT 

APPROACH PROCEDURES

■ 1. The authority citation for part 97 

continues to read as follows:

Authority: 49 U.S.C. 106(g), 40103, 40106, 

40113, 40114, 40120, 44502, 44514, 44701, 

44719, 44721–44722.

■ 2. Part 97 is amended to read as 

follows:

* * * Effective December 23, 2004 

Seattle, WA, Seattle-Tacoma Intl, ILS RWY 

16R, Amdt 12D 

Seattle, WA, Seattle-Tacoma Intl, NDB RWY 

16R, Amdt 1B 

Seattle, WA, Seattle-Tacoma Intl, RNAV 

(GPS) RWY 16R, Orig-B 

Seattle, WA, Seattle-Tacoma Intl, VOR RWY 

16L/R, Amdt 13A 

* * * Effective January 20, 2005 

Deadhorse, AK, Deadhorse, LOC/DME BC 

RWY 22, Amdt 10 

King Cove, AK, King Cove, RNAV (GPS)-A, 

Orig 

Point Lay, AK, Point Lay LRRS, RNAV (GPS) 

RWY 5, Orig 

Point Lay, AK, Point Lay LRRS, RNAV (GPS) 

RWY 23, Orig 

Point Lay, AK, Point Lay LRRS, NDB RWY 

5, Orig 

Point Lay, AK, Point Lay LRRS, NDB RWY 

5, Orig, CANCELLED 

Point Lay, AK, Point Lay LRRS, GPS RWY 5, 

Orig, CANCELLED 

Point Lay, AK, Point Lay LRRS, GPS RWY 

23, Orig, CANCELLED 

Mobile, AL, Mobile Regional, VOR OR 

TACAN–A, Amdt 2 

Mariposa, CA, Mariposa-Yosemite, RNAV 

(GPS)–B, Orig 

Mariposa, CA, Mariposa-Yosemite, RNAV 

(GPS)–A, Orig 

Blakely, GA, Early County, RNAV (GPS) 

RWY 5, Amdt 1 

Blakely, GA, Early County, RNAV (GPS) 

RWY 23, Amdt 1 

St Marys, GA, St Marys, RNAV (GPS) RWY 

31, Orig-A 

Goodland, KS, Renner Fld/Goodland Muni, 

ILS OR LOC RWY 30, Amdt 1 

Somerset, KY, Somerset-Pulaski CountyJ.T.Wilson Field, RNAV (GPS) RWY 22, 

Orig-A 

Somerset, KY, Somerset-Pulaski CountyJ.T.Wilson Field, RNAV (GPS) RWY 4, 

Orig-A 

Shreveport, LA, Shreveport Regional, RNAV 

(GPS) RWY 23, Orig-A 

Elkton, MD, Cecil County, RNAV (GPS) RWY 

13, Orig 

Mitchellville, MD, Freeway, RNAV (GPS) 

RWY 18, Orig-A 

Mitchellville, MD, Freeway, RNAV (GPS) 

RWY 36, Orig-A 

St. Joseph, MO, Rosecrans Memorial, ILS OR 

LOC RWY 35, Amdt 31 

Cozad, NE, Cozad Muni, RNAV (GPS) RWY 

13, Orig 

Cozad, NE, Cozad Muni, RNAV (GPS) RWY 

31, Orig 

Cozad, NE, Cozad Muni, VOR RWY 13, Amdt 

2 

Oshkosh, NE, Garden City, RNAV (GPS) 

RWY 12, Orig 

Oshkosh, NE, Garden City, RNAV (GPS) 

RWY 30, Orig 

Oshkosh, NE, Garden City, NDB RWY 12, 

Amdt 1 

Mangum, OK, Scott Field, RNAV (GPS) RWY 

17, Amdt 1 

Mangum, OK, Scott Field, RNAV (GPS) RWY 

35, Amdt 1 

Saratoga Springs, NY, Saratoga County, VOR/

DME-A, Orig 

Saratoga Springs, NY, Saratoga County, VORA, Amdt 5, CANCELLED 

Saratoga Springs, NY, Saratoga County, 

RNAV (GPS) RWY 5, Orig 

Saratoga Springs, NY, Saratoga County, GPS 

RWY 5, Orig, CANCELLED 

Saratoga Springs, NY, Saratoga County, 

RNAV (GPS) RWY 23, Orig 

Saratoga Springs, NY, Saratoga County, GPS 

RWY 23, Orig, CANCELLED 

Collegeville, PA, Perkiomen Valley, VOR 

RWY 9, Amdt 5 

Collegeville, PA, Perkiomen Valley, RNAV 

(GPS) RWY 9, Orig 

Collegeville, PA, Perkiomen Valley, RNAV 

(GPS) RWY 27, Orig 

North Kingstown, RI, Quonset State, VOR 

RWY 34, Amdt 2 

Waupaca, WI, Waupaca Muni, RNAV (GPS) 

RWY 10, Orig 

Waupaca, WI, Waupaca Muni, RNAV (GPS) 

RWY 28, Orig 

Waupaca, WI, Waupaca Muni, NDB RWY 31, 

Orig 

Waupaca, WI, Waupaca Muni, NDB OR GPS 

RWY 30, Amdt 4, CANCELLED 

Evanston, WY, Evanston-Uinta County Burns 

Field, RNAV (GPS) RWY 5, Amdt 1 

Evanston, WY, Evanston-Uinta County Burns 

Field, RNAV (GPS) RWY 23, Amdt 1 

Evanston, WY, Evanston-Uinta County Burns 

Field, VOR/DME RWY 23, Orig 

Evanston, WY, Evanston-Uinta County Burns 

Field, VOR/DME OR GPS-A, Orig-A, 

CANCELLED 

Evanston, WY, Evanston-Uinta County Burns 

Field, VOR/DME RWY 23, Amdt 2B, 

CANCELLED

[FR Doc. 04–26342 Filed 11–29–04; 8:45 am] 

BILLING CODE 4910–13–P

DEPARTMENT OF COMMERCE

Bureau of Economic Analysis 

15 CFR Part 801 

[Docket No. 040803225–4315–02] 

RIN 0691–AA51 

International Services Surveys: BE–80, 

Benchmark Survey of Financial 

Services Transactions Between U.S. 

Financial Services Providers and 

Unaffiliated Foreign Persons

AGENCY: Bureau of Economic Analysis, 

Commerce.

ACTION: Final rule.

SUMMARY: This final rule amends 

regulations that set forth reporting 

requirements for the BE–80, Benchmark 

Survey of Financial Services 

Transactions Between U.S. Financial 

Services Providers and Unaffiliated 

Foreign Persons. 

The BE–80 survey is conducted once 

every five years by the Bureau of 

Economic Analysis (BEA), U.S. 

Department of Commerce, under the 

International Investment and Trade in 

Services Survey Act and under the 

Omnibus Trade and Competitiveness 

Act of 1988. The Benchmark Survey 

will be conducted for 2004. The data are 

needed to compile the U.S. international 

transactions, national income and 

product, and input-output accounts; 

support U.S. economic policy; assess 

U.S. competitiveness in international 

trade in services; and improve the 

ability of U.S. businesses to identify and 

evaluate market opportunities. 

This final rule changes the reporting 

of data on international transactions in 

financial services by: creating a new 

category for brokerage services related to 

equities transactions; collecting total 

receipts and total payments for financial 

services transactions with affiliated 

foreign parties (that is, with foreign 

affiliates and foreign parents); and 

revising the definition of a financial 

services provider to more fully align the 

definition with the North American 

Industry Classification System—2002.

DATES: This final rule will become 

effective December 30, 2004.

FOR FURTHER INFORMATION CONTACT: Obie 

G. Whichard, Chief, International 

Investment Division (BE–50), Bureau of 

Economic Analysis, U.S. Department of 

Commerce, Washington, DC 20230; 

phone (202) 606–9800 or e-mail 

(obie.whichard@bea.gov).

SUPPLEMENTARY INFORMATION: In the 

August 27, 2004 Federal Register, 69 FR 

52613–52615, BEA published a notice of 

proposed rulemaking setting forth 

revised reporting requirements for the 

BE–80, Benchmark Survey of Financial 

Services Transactions Between U.S. 

Financial Services Providers and 

Unaffiliated Foreign Persons. No 

comments on the proposed rule were 

received. Thus, the proposed rule is 

adopted without change. 

This final rule amends 15 CFR part 

801.11 to set forth reporting 

requirements for the BE–80, Benchmark 

Survey of Financial Services 

Transactions Between U.S. Financial 

Services Providers and Unaffiliated 

Foreign Persons. 

Description of Revisions 

The BE–80, Benchmark Survey of 

Financial Services Transactions 

Between U.S. Financial Services 

Providers and Unaffiliated Foreign 

Federal Register / Vol. 69, No. 229 / Tuesday, November 30, 2004 / Rules and Regulations 69509

Persons, is mandatory and is conducted 

every 5 years by the Bureau of Economic 

Analysis (BEA), U.S. Department of 

Commerce, under the International 

Investment and Trade in Services 

Survey Act (22 U.S.C. 3101–3108)—

hereinafter, ‘‘the Act,’’ and under 

section 5408 of the Omnibus Trade and 

Competitiveness Act of 1988 (15 U.S.C. 

4908). BEA will send the survey to 

potential respondents in January 2005, 

and a response will be due by March 31, 

2005. BEA will enact the following 

changes to the Code of Federal 

Regulations: (1) Split the category for 

brokerage services into two categories, 

by collecting information on services 

related to equities transactions 

separately from other brokerage 

services; (2) add questions covering total 

receipts and total payments for 

transactions in financial services with 

affiliated foreign parties (i.e., foreign 

affiliates and foreign parents); and (3) 

revise the definition of a financial 

services provider to more fully align the 

definition with the 2002 version of 

North American Industry Classification 

System. The forms and instructions for 

the 2004 Benchmark Survey will be 

amended to reflect these changes to the 

Code of Federal Regulations.

Survey Background 

The Bureau of Economic Analysis 

(BEA), U.S. Department of Commerce, 

will conduct the survey under the 

International Investment and Trade in 

Services Survey Act (22 U.S.C. 3101–

3108)—hereinafter, ‘‘the Act,’’ and 

under section 5408 of the Omnibus 

Trade and Competitiveness Act of 1988 

(15 U.S.C. 4908). 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 the 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 

Order 12518, the President delegated his 

authority under the Act as concerns 

international trade in services to the 

Secretary of Commerce, who has 

redelegated it to BEA. 

The major purposes of the survey are 

to compile the U.S. international 

transactions, national income and 

product, and input-output accounts; 

support U.S. international economic 

policy; assess U.S. competitiveness in 

international trade in financial services; 

and improve the ability of U.S. 

businesses to identify and evaluate 

market opportunities. 

The survey is intended to cover the 

universe of financial services 

transactions between U.S. financial 

services providers and foreign persons. 

Reporting is required from U.S. 

financial services providers who have 

sales to or purchases from unaffiliated 

foreign persons in all financial services 

combined in excess of $3 million during 

the reporting year. Financial services 

providers meeting these criteria must 

supply data on the amount of their sales 

or purchases with unaffiliated foreign 

persons for each type of covered service, 

disaggregated by country, and must 

report transactions with foreign 

affiliates and foreign parents at the 

global level for both total sales and total 

purchases of the covered financial 

services. U.S. financial services 

providers that have covered transactions 

of $3 million or less during the 

reporting year are asked to provide 

voluntary estimates of their total sales 

and total purchases of each type of 

financial service. 

Executive Order 12866 

This final rule has been determined to 

be not significant for purposes of E.O. 

12866. 

Executive Order 13132 

This final rule does not contain 

policies with federalism implications as 

that term is defined in E.O. 13132. 

Paperwork Reduction Act 

The collection-of-information 

required in this final rule has been 

approved by the Office of Management 

and Budget (OMB) under the Paperwork 

Reduction Act of 1995 (PRA). 

Notwithstanding any other provision 

of law, no person is required to respond 

to, nor shall a 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 OMB number for the BE–

80 is 0608–0062; the collection will 

display this control number. 

The survey is expected to result in the 

filing of reports from approximately 375 

respondents. The respondent reporting 

burden for this collection of information 

is estimated to vary from less than 4 

hours to 150 hours, with an overall 

average burden of 8 hours. This 

includes 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 of the 

survey is estimated at 3,000 hours (375 

responses times 8 hours average 

burden). 

Comments regarding the burden 

estimate or any other aspect of this 

collection of information should be 

addressed to: Director, Bureau of 

Economic Analysis (BE–1), U.S. 

Department of Commerce, Washington, 

DC 20230 (fax: 202–606–5311); and 

either faxed (202–395–7245) or e-mailed 

(pbugg@omb.eop.gov) to the Office of 

Management and Budget, O.I.R.A. 

(Attention PRA Desk Officer for BEA). 

Regulatory Flexibility Act 

The Chief Counsel for Regulation, 

Department of Commerce, has certified 

to the Chief Counsel for Advocacy, 

Small Business Administration, under 

the provisions of the Regulatory 

Flexibility Act (5 U.S.C. 605(b)), that 

this final rule will not have a significant 

economic impact on a substantial 

number of small entities. Although BEA 

does not collect data on total sales or 

other measures of the overall size of 

businesses that respond to the survey, 

historically the respondent universe has 

been comprised mainly of major U.S. 

corporations. With the exemption level 

for the survey being $3 million in 

covered receipts or payments, the 

reporting threshold for this survey is set 

at a level that will exempt most small 

businesses from reporting. Of those 

smaller businesses that must report, 

most will tend to have specialized 

operations and activities and thus will 

be likely to report only one type of 

service transaction, often limited to 

transactions with a single partner 

country; therefore, the burden on them 

can be expected to be small. 

BEA received no comments on the 

economic impact of this rule. As a 

result, no regulatory flexibility analysis 

was prepared.

List of Subjects in 15 CFR Part 801 

Economic statistics, Foreign trade, 

Penalties, Reporting and recordkeeping 

requirements.

Dated: November 2, 2004. 

J. Steven Landefeld, 

Director, Bureau of Economic Analysis.

■ For the reasons set forth in the 

preamble, BEA amends 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 is revised to read as follows:

69510 Federal Register / Vol. 69, No. 229 / Tuesday, November 30, 2004 / Rules and Regulations 

1 7 U.S.C. 24.

2 11 U.S.C. 761(17).

Authority: 5 U.S.C. 301; 15 U.S.C. 4908; 22 

U.S.C. 3101–3108; 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. Section 801.11(b) and (c) are revised 

to read as follows:

§ 801.11 Rules and regulations for the BE–

80, Benchmark Survey of Financial Services 

Transactions Between U.S. Financial 

Services Providers and Unaffiliated Foreign 

Persons.

* * * * *

(b) BE–80 definition of financial 

services provider. The definition of 

financial services provider used for this 

survey is identical in coverage to Sector 

52—Finance and Insurance, and holding 

companies that own or influence, and 

are principally engaged in making 

management decisions for these firms 

(part of Sector 55—Management of 

Companies and Enterprises, of the North 

American Industry Classification 

System, United States, 2002). For 

example, companies and/or subsidiaries 

and other separable parts of companies 

in the following industries are defined 

as financial services providers: 

Depository credit intermediation and 

related activities (including commercial 

banking, savings institutions, credit 

unions, and other depository credit 

intermediation); nondepository credit 

intermediation (including credit card 

issuing, sales financing, and other 

nondepository credit intermediation); 

activities related to credit 

intermediation (including mortgage and 

nonmortgage loan brokers, financial 

transactions processing, reserve, and 

clearinghouse activities, and other 

activities related to credit 

intermediation); securities and 

commodity contracts intermediation 

and brokerage (including investment 

banking and securities dealing, 

securities brokerage, commodity 

contracts dealing, and commodity 

contracts brokerage); securities and 

commodity exchanges; other financial 

investment activities (including 

miscellaneous intermediation, portfolio 

management, investment advice, and all 

other financial investment activities); 

insurance carriers; insurance agencies, 

brokerages, and other insurance related 

activities; insurance and employee 

benefit funds (including pension funds, 

health and welfare funds, and other 

insurance funds); other investment 

pools and funds (including open-end 

investment funds, trusts, estates, and 

agency accounts, real estate investment 

trusts, and other financial vehicles); and 

holding companies that own, or 

influence the management decisions of, 

firms principally engaged in the 

aforementioned activities. 

(c) Covered types of services. The BE–

80 survey covers the following types of 

financial services transactions 

(purchases and/or sales) between U.S. 

financial services providers and 

unaffiliated foreign persons: Brokerage 

services related to equities transactions; 

other brokerage services; underwriting 

and private placement services; 

financial management services; creditrelated services, except credit card 

services; credit card services; financial 

advisory and custody services; 

securities lending services; electronic 

funds transfer services; and other 

financial services. The BE–80 also 

covers total receipts and total payments 

for the above-listed types of financial 

services transactions with affiliated 

foreign parties (foreign affiliates and 

foreign parents).

* * * * *

[FR Doc. 04–26367 Filed 11–29–04; 8:45 am] 

BILLING CODE 3510–06–P

COMMODITY FUTURES TRADING 

COMMISSION 

17 CFR Part 190

Interpretative Statement Regarding 

Funds Determined To Be Held in the 

Futures Account Type of Customer 

Account Class

AGENCY: Commodity Futures Trading 

Commission.

ACTION: Interpretative statement.

SUMMARY: This interpretation by the 

Commodity Futures Trading 

Commission is issued to clarify the 

appropriate means by which to allocate 

customer funds held by an insolvent 

Futures Commission Merchant (FCM) to 

account classes (as such term is defined 

in section 190.01(a) of the Commission’s 

Regulations (17 CFR 190.01(a)) in cases 

where money, securities or other 

property margining, guaranteeing or 

securing futures contracts traded on 

non-domestic boards of trade has been 

deposited, pursuant to a Commission 

Order, in a segregated account 

established pursuant to Regulation 1.20 

(17 CFR 1.20).

FOR FURTHER INFORMATION CONTACT:

Robert B. Wasserman, Associate 

Director, Division of Clearing and 

Intermediary Oversight, Commodity 

Futures Trading Commission, Three 

Lafayette Centre, 1155 21st Street, NW., 

Washington, DC 20581. Telephone: 

(202) 418–5092; e-mail 

rwasserman@cftc.gov.

* * * * *

Section 20 of the Commodity 

Exchange Act 1 empowers the 

Commission to provide by rule or 

regulation how the net equity of a 

customer is to be determined:

‘‘* * * the Commission may provide, with 

respect to a commodity broker that is a 

debtor under chapter 7 of title 11 of the 

United States Code, by rule or regulation—

(1) that certain cash, securities, other 

property, or commodity contracts are to be 

included in or excluded from customer 

property or member property; * * * and (5) 

how the net equity of a customer is to be 

determined.’’

Subchapter IV of the Bankruptcy Code 

(concerning Commodity Brokers) has 

the same effect, explicitly subjecting its 

definition of ‘‘net equity’’ to ‘‘such rules 

and regulations as the Commission 

promulgates under the [Commodity 

Exchange ] Act.’’ 2

The Commission has exercised this 

power in promulgating Part 190. In 

particular, Net Equity is defined in 

Regulation 190.07. This definition 

includes the concept of ‘‘account 

classes.’’ For example, § 190.07(b)(2) 

directs that one of the steps in 

calculating a customer’s net equity is to 

‘‘[a]ggregate the credit and debit equity 

balances of all accounts of the same 

class held by a customer in the same 

capacity.’’ Similarly, § 190.07(c) defines 

the ‘‘funded balance’’ as ‘‘a customer’s 

pro rata share of the customer estate 

account class available as of the primary 

liquidation date for distribution to 

customers of the same class.’’

Commission Regulation 190.01(a) 

defines account class as follows:

each of the following types of customer 

accounts which must be recognized as a 

separate class of account by the trustee: 

futures accounts, foreign futures accounts, 

leverage accounts, commodity option 

accounts, and delivery accounts as defined in 

§ 190.05(a)(2): Provided, however, That to the 

extent that the equity balance, as defined in 

§ 190.07, of a customer in a commodity 

option, as defined in § 1.3(hh) of this chapter, 

may be commingled with the equity balance 

of such customer in any domestic commodity 

futures contract pursuant to regulations 

under the Act, the aggregate shall be treated 

for purposes of this part as being held in a 

futures account.

There is a potential ambiguity in how 

this provision should be applied in two 

related contexts. First, where a customer 

account holds foreign futures contracts, 

and/or property margining, 

guaranteeing, or securing such 

contracts, but where the collateral has, 

pursuant to a Commission order, been 

segregated in accordance with 

Commission Regulation 1.20 in the