Federal Register / Vol. 76, No. 245 / Wednesday, December 21, 2011 / Rules and Regulations 79051 

compile computerized loan-level data 

on each AMA-approved mortgage 

purchased. See 12 CFR 1281.21(a). Each 

Bank is required to submit to the 

Director, on a semi-annual basis, a 

Mortgage Report containing aggregations 

of the loan-level mortgage data for yearto-date AMA-approved mortgage 

purchases, as well as year-to-date dollar 

volume, number of units, and number of 

AMA-approved mortgages on owneroccupied properties purchased that do, 

and do not, qualify under each housing 

goal. See 12 CFR 1281.21(b). The first 

semi-annual Mortgage Report must be 

submitted within 45 days of the end of 

the second quarter, and the annual 

Mortgage Report must be submitted 

within 60 days of the end of the 

calendar year. See 12 CFR 1281.21(c). In 

addition, the Bank housing goals 

regulation currently provides that a 

Bank may revise its first semi-annual 

Mortgage Report for a year at any time 

before submission of its annual 

Mortgage Report. See 12 CFR 

1281.21(d). 

C. Data Reporting Manual Requirements 

FHFA has established separate data 

reporting requirements for the Banks 

under the Data Reporting Manual 

(DRM). The data reporting requirements 

under the Bank housing goals regulation 

are similar to existing data reporting 

requirements under the DRM, but the 

requirements are not identical. 

Specifically, the DRM provides that data 

that is required to be reported on a semiannual basis must be submitted within 

two calendar months of the end of the 

second quarter, or within two calendar 

months of the end of the year, as 

applicable. In addition, the DRM 

requires that any corrections to data 

submitted by a Bank must be made 

within 30 days of identifying the need 

for a correction. This requirement 

effectively limits a Bank’s ability to 

submit a revised semi-annual Mortgage 

Report pursuant to 12 CFR 1281.21(d). 

II. Analysis of Final Rule 

A. Timing of Mortgage Reports— 

§ 1281.21(c) 

In order to make the mortgage 

reporting schedule for the Banks under 

the Bank housing goals consistent with 

the DRM reporting schedule, the final 

rule amends § 1281.21(c) to allow the 

Banks two calendar months, rather than 

45 days, from the end of the second 

quarter to submit the semi-annual 

Mortgage Report, and two calendar 

months, rather than 60 days, from the 

end of the year to submit the annual 

Mortgage Report. 

B. Revisions to Mortgage Reports— 

§ 1281.21(d) 

In order to make the data integrity 

provisions under the Bank housing 

goals consistent with the data integrity 

requirements under the DRM, the final 

rule removes paragraph (d) from 

§ 1281.21. This change does not impose 

any new requirements on the Banks. 

The change simply makes clear that the 

data integrity reporting requirements 

established under the DRM continue to 

apply to all data submissions from the 

Banks. 

C. Banks’ and Enterprises’ Differences 

Section 1313 of the Federal Housing 

Enterprises Financial Safety and 

Soundness Act of 1992, as amended, 12 

U.S.C. 4513(f), requires the Director of 

FHFA to consider the differences 

between the Banks and the Enterprises 

(Fannie Mae and Freddie Mac) 

whenever promulgating regulations that 

affect the Banks. The changes in this 

final rule are intended to conform the 

data reporting requirements under the 

Bank housing goals to the Bank data 

reporting requirements under the DRM. 

FHFA has considered these procedural 

changes in light of the differences 

between the Banks and the Enterprises 

and has determined that the final rule 

is appropriate. 

III. Paperwork Reduction Act 

The final rule does not contain any 

information collection requirement that 

requires the approval of the Office of 

Management and Budget under the 

Paperwork Reduction Act (44 U.S.C. 

3501 et seq.). 

IV. Notice and Public Participation 

FHFA has determined that this 

rulemaking is exempt from the notice 

and comment requirements of the 

Administrative Procedure Act. Because 

the changes are procedural in nature 

and will not significantly affect a Bank’s 

substantive rights, FHFA has concluded 

that notice and comment are not 

required pursuant to 5 U.S.C. 553(b)(A). 

In addition, because the changes to part 

1281 are minor technical changes that 

conform regulatory provisions to the 

data reporting requirements that FHFA 

has already imposed on the Banks, 

FHFA for good cause has concluded that 

notice and comment are unnecessary 

pursuant to 5 U.S.C. 553(b)(B). 

V. Regulatory Flexibility Act 

The provisions of the Regulatory 

Flexibility Act do not apply to 

regulations that are exempt from the 

notice and comment requirements of the 

Administrative Procedure Act. See 5 

U.S.C. 604(a). 

List of Subjects in 12 CFR Part 1281 

Credit, Federal home loan banks, 

Housing, Mortgages, Reporting and 

recordkeeping requirements. 

Authority and Issuance 

For the reasons stated in the 

preamble, under the authority of 12 

U.S.C. 1430c, FHFA amends part 1281 

of title 12 of the Code of Federal 

Regulations as follows: 

PART 1281—FEDERAL HOME LOAN 

BANK HOUSING GOALS 

■ 1. The authority citation for part 1281 

continues to read as follows: 

Authority: 12 U.S.C. 1430c. 

■ 2. Amend § 1281.21 as follows: 

■ a. Revise paragraph (c); and 

■ b. Remove paragraph (d) and 

redesignate paragraph (e) as new 

paragraph (d). 

§ 1281.21 Mortgage Reports. 

* * * * * 

(c) Timing of Reports. Each Bank shall 

submit its first semi-annual Mortgage 

Report within two calendar months of 

the end of the second quarter. Each 

Bank shall submit its annual Mortgage 

Report within two calendar months of 

the end of the calendar year. 

* * * * * 

Dated: December 15, 2011. 

Edward J. DeMarco, 

Acting Director, Federal Housing Finance 

Agency. 

[FR Doc. 2011–32644 Filed 12–20–11; 8:45 am] 

BILLING CODE 8070–01–P 

DEPARTMENT OF TRANSPORTATION 

Federal Aviation Administration 

14 CFR Part 39 

[Docket No. FAA–2007–0218; Directorate 

Identifier 92–ANE–56–AD; Amendment 39– 

16894; AD 2011–26–04] 

RIN 2120–AA64 

Airworthiness Directives; Lycoming 

Engines, Fuel Injected Reciprocating 

Engines 

AGENCY: Federal Aviation 

Administration (FAA), DOT. 

ACTION: Final rule. 

SUMMARY: We are superseding an 

existing airworthiness directive (AD) for 

certain fuel injected reciprocating 

engines manufactured by Lycoming 

Engines. That AD currently requires 

inspection, replacement if necessary, 

and proper clamping of externally 


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mounted fuel injector fuel lines. That 

AD also states that it is not applicable 

to engines that have a Maintenance and 

Overhaul Manual with an Airworthiness 

Limitations Section that requires 

inspection and replacement, if 

necessary, of externally mounted fuel 

injector lines. This new AD requires the 

same actions. This AD was prompted by 

Lycoming Engines revising their 

Mandatory Service Bulletin (MSB) to 

add engine models requiring 

inspections. We are issuing this AD to 

prevent failure of the fuel injector fuel 

lines that would allow fuel to spray into 

the engine compartment, resulting in an 

engine fire. 

DATES: This AD is effective January 25, 

2012. 

The Director of the Federal Register 

approved the incorporation by reference 

of a certain publication listed in the AD 

as of January 25, 2012. 

ADDRESSES: For service information 

identified in this AD, contact Lycoming 

Engines, 652 Oliver Street, 

Williamsport, PA 17701, or go to 

www.lycoming.textron.com. You may 

review copies of the referenced service 

information at the FAA, Engine 

Certification Office, Engine & Propeller 

Directorate, 12 New England Executive 

Park, Burlington, MA. For information 

on the availability of this material at the 

FAA, call (781) 238–7125. 

Examining the AD Docket 

You may examine the AD docket on 

the Internet at http:// 

www.regulations.gov; or in person at the 

Docket Management Facility between 

9 a.m. and 5 p.m., Monday through 

Friday, except Federal holidays. The AD 

docket contains this AD, the regulatory 

evaluation, any comments received, and 

other information. The address for the 

Docket Office (phone: (800) 647–5527) 

is Document Management Facility, U.S. 

Department of Transportation, Docket 

Operations, M–30, West Building 

Ground Floor, Room W12–140, 1200 

New Jersey Avenue SE., Washington, 

DC 20590. 

FOR FURTHER INFORMATION CONTACT: 

Norm Perenson, Aerospace Engineer, 

New York Aircraft Certification Office, 

FAA, Engine & Propeller Directorate, 

1600 Stewart Avenue, Suite 410, 

Westbury, NY 11590; phone: (516) 228– 

7337; fax: (516) 794–5531; email: 

Norman.perenson@faa.gov. 

SUPPLEMENTARY INFORMATION: 

Discussion 

We issued a notice of proposed 

rulemaking (NPRM) to amend 14 CFR 

part 39 to supersede AD 2008–14–07, 

Amendment 39–15602 (73 FR 39574, 

July 10, 2008). That AD applies to the 

specified products. The NPRM 

published in the Federal Register on 

February 15, 2011 (76 FR 8661). That 

NPRM proposed to inspect, replace if 

necessary, and properly clamp 

externally mounted fuel injector fuel 

lines. That AD also states that it is not 

applicable to engines that have a 

Maintenance and Overhaul Manual with 

an Airworthiness Limitations Section 

that requires inspection and 

replacement, if necessary, of externally 

mounted fuel injector lines. 

Comments 

We gave the public the opportunity to 

participate in developing this AD. The 

following presents the comment 

received on the proposal and the FAA’s 

response to the comment. 

Question 

One commenter asked why the AD 

requirements are only for Lycoming 

engines, and not also for Teledyne 

Continental Motors (TCM) engines. The 

commenter inferred that we write ADs, 

just to make owners maintain their 

aircraft. 

In response, any AD made applicable 

to TCM engines with externally 

mounted fuel injector lines, would have 

to be written by the Atlanta Aircraft 

Certification Office (ACO), because that 

office has oversight of TCM. The Atlanta 

ACO has informed us that at this time, 

there is insufficient data to justify an AD 

for TCM engines with externally 

mounted fuel injector lines, however, 

they realize there may be justification 

for issuing a Special Airworthiness 

Information Bulletin (SAIB), for TCM 

engines on this subject. They are 

looking into possibly issuing an SAIB. 

Conclusion 

We reviewed the relevant data, 

considered the comment received, and 

determined that air safety and the 

public interest require adopting the AD 

as proposed. 

Costs of Compliance 

We estimate that this AD affects 

21,180 four-cylinder engines, 21,449 

six-cylinder engines, and 256 eightcylinder engines installed on aircraft of 

U.S. registry. We also estimate that it 

will take about 0.2 work-hour to inspect 

all lines on a four-cylinder engine, 0.5 

work-hour to inspect all lines on a sixcylinder engine, and 0.7 work-hour to 

inspect all lines on an eight-cylinder 

engine. We also estimate that the 

average labor rate is $85 per work-hour. 

We do not anticipate any additional 

costs on U.S. operators, as the 

inspection would be done in 

conjunction with other work performed 

concurrently. We anticipate no parts to 

be required. Based on these figures, the 

total cost of the AD to U.S. operators for 

one inspection of the fleet is $1,286,875. 

Authority for This Rulemaking 

Title 49 of the United States Code 

specifies the FAA’s authority to issue 

rules on aviation safety. Subtitle I, 

section 106, describes the authority of 

the FAA Administrator. Subtitle VII, 

Aviation Programs, describes in more 

detail the scope of the Agency’s 

authority. 

We are issuing this rulemaking under 

the authority described in subtitle VII, 

part A, subpart III, section 44701, 

‘‘General requirements.’’ Under that 

section, Congress charges the FAA with 

promoting safe flight of civil aircraft in 

air commerce by prescribing regulations 

for practices, methods, and procedures 

the Administrator finds necessary for 

safety in air commerce. This regulation 

is within the scope of that authority 

because it addresses an unsafe condition 

that is likely to exist or develop on 

products identified in this rulemaking 

action. 

Regulatory Findings 

We have determined that this AD will 

not have federalism implications under 

Executive Order 13132. This AD will 

not have a substantial direct effect on 

the States, on the relationship between 

the national government and the States, 

or on the distribution of power and 

responsibilities among the various 

levels of government. 

For the reasons discussed above, I 

certify that this AD: 

(1) Is not a ‘‘significant regulatory 

action’’ under Executive Order 12866, 

(2) Is not a ‘‘significant rule’’ under 

DOT Regulatory Policies and Procedures 

(44 FR 11034, February 26, 1979), 

(3) Will not affect intrastate aviation 

in Alaska, and 

(4) Will not have a significant 

economic impact, positive or negative, 

on a substantial number of small entities 

under the criteria of the Regulatory 

Flexibility Act. 

List of Subjects in 14 CFR Part 39 

Air transportation, Aircraft, Aviation 

safety, Incorporation by reference, 

Safety. 

Adoption of the Amendment 

Accordingly, under the authority 

delegated to me by the Administrator, 

the FAA amends 14 CFR part 39 as 

follows: 


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Federal Register / Vol. 76, No. 245 / Wednesday, December 21, 2011 / Rules and Regulations 79053 

PART 39—AIRWORTHINESS 

DIRECTIVES 

■ 1. The authority citation for part 39 

continues to read as follows: 

Authority: 49 U.S.C. 106(g), 40113, 44701. 

§ 39.13 [Amended] 

■ 2. The FAA amends § 39.13 by 

removing airworthiness directive (AD) 

2008–14–07, Amendment 39–15602 (73 

FR 39574, July 10, 2008), and adding the 

following new AD: 

2011–26–04 Lycoming Engines (formerly 

Textron Lycoming Division, AVCO 

Corporation): Amendment 39–16894; 

Docket No. FAA–2007–0218; Directorate 

Identifier 92–ANE–56–AD. 

(a) Effective Date 

This airworthiness directive (AD) is 

effective January 25, 2012. 

(b) Affected ADs 

This AD supersedes AD 2008–14–07, 

Amendment 39–15602 (73 FR 39574, July 10, 

2008). 

(c) Applicability 

(1) This AD applies to fuel injected 

reciprocating engines manufactured by 

Lycoming Engines that incorporate externally 

mounted fuel injection lines (engines with an 

‘‘I’’ in the prefix of the engine model 

designation) as listed in the following Table 

1: 

TABLE 1—ENGINE MODELS AFFECTED

Engine Model 

AEIO–320 ............................. –D1B, –D2B, –E1B, –E2B 

AIO–320 ............................... –A1B, –BIB, –C1B 

IO–320 .................................. –B1A, –B1C, –C1A, –D1A, –D1B, –E1A, –E1B, –E2A, –E2B 

LIO–320 ................................ –B1A, –C1A 

AEIO–360 ............................. –A1A, –A1B, –A1B6, –A1D, –A1E, –A1E6, –B1F, –B2F, –B1G6, –B1H, –B4A, –H1A, –H1B 

AIO–360 ............................... –A1A, –A1B, –B1B 

HIO–360 ............................... –A1A, –A1B, –B1A, –C1A, –C1B, –D1A, –E1AD, –E1BD, –F1AD, –G1A 

IO–360 .................................. –A1A, –A1B, –A1B6, –A1B6D, –A1C, –A1D, –A1D6, –A2A, –A2B, –A3B6, –A3B6D, –B1B, –B1D, –B1E, –B1F, 

–B1G6, –B2F, –B2F6, –B4A, –C1A, –C1B, –C1C, –C1C6, –C1D6, –C1E6, –C1F, –C1G6, –F1A, –J1A6D, 

–M1B, –L2A, –M1A 

IVO–360 ............................... –A1A 

LIO–360 ................................ –C1E6, –M1A 

TIO–360 ............................... –A1B, –C1A6D 

IGO–480 ............................... –A1B6 

AEIO–540 ............................. –D4A5, –D4B5, –D4D5, –L1B5, –L1B5D, –L1D5 

IGO–540 ............................... –B1A, –B1C 

IO–540 .................................. –A1A5, –AA1A5, –AA1B5, –AB1A5, –AC1A5, –AE1A5, –B1A5, –B1C5, –C1B5, –C4B5, –C4D5D, –D4A5, –E1A5, 

–E1B5, –G1A5, –G1B5, –G1C5, –G1D5, –G1E5, –G1F5, –J4A5, –V4A5D, –K1A5, –K1A5D, –K1B5, –K1C5, 

–K1D5, –K1E5, –K1E5D, –K1F5, K1H5, –K1J5, –K1F5D, –K1G5, –K1G5D, –K1H5, –K1J5D, –K1K5, –K1E5, 

–K1E5D, –K1F5, –K1J5, –L1C5, –M1A5, –M1B5D, –M1C5, –N1A5, –P1A5, –R1A5, –S1A5, –T4A5D, –T4B5, 

–T4B5D, –T4C5D, –V4A5, –V4A5D, –W1A5, –W1A5D, –W3A5D 

IVO–540 ............................... –A1A 

LTIO–540 ............................. –F2BD, –J2B, –J2BD, –N2BD, –R2AD, –U2A, –V2AD, –W2A 

TIO–540 ............................... –A1A, –A1B, –A2A, –A2B, –A2C, –AE2A, –AH1A, –AA1AD, –AF1A, –AF1B, –AG1A, –AB1AD, –AB1BD, –AH1A, 

–AJ1A, –AK1A, –C1A, –E1A, –G1A, –F2BD, –J2B, –J2BD, –N2BD, –R2AD, –S1AD, –U2A, –V2AD, –W2A 

TIVO–540 ............................. –A2A 

IO–720 .................................. –A1A, –A1B, –D1B, –D1BD, –D1C, –D1CD, –B1B, –B1BD, –C1B 

(2) Engine models in Table 1 of this AD are 

installed on, but not limited to, Piper PA–24 

Comanche, PA–30 and PA–39 Twin 

Comanche, PA–28 Arrow, and PA–23 Aztec; 

Beech 23 Musketeer; Mooney 20, and Cessna 

177 Cardinal airplanes. 

(3) This AD is not applicable to engines 

having internally mounted fuel injection 

lines, which are not accessible. Those engine 

models are not included in Table 1 of this 

AD. 

(4) This AD is not applicable to engines 

that have a Maintenance and Overhaul 

Manual with an Airworthiness Limitations 

Section that requires inspection of externally 

mounted fuel injector lines. Those engine 

models are not included in Table 1 of this 

AD. 

(d) Unsafe Condition 

This AD was prompted by Lycoming 

Engines revising their Mandatory Service 

Bulletin (MSB) to add engine models 

requiring inspection. We are issuing this AD 

to prevent failure of the fuel injector fuel 

lines that would allow fuel to spray into the 

engine compartment, resulting in an engine 

fire. 

(e) Compliance 

Comply with this AD within the 

compliance times specified, unless already 

done. 

(f) Engines That Have Had Initial Inspections 

For engines that have had initial 

inspections in accordance with Textron 

Lycoming MSB No. 342, dated March 24, 

1972; Textron Lycoming MSB No. 342A, 

dated May 26, 1992; Textron Lycoming MSB 

No. 342B, dated October 22, 1993; 

Supplement No. 1 to MSB No. 342B, dated 

April 27, 1999; Textron Lycoming MSB No. 

342C, dated April 28, 2000; Textron 

Lycoming MSB No. 342D, dated July 10, 

2001; Lycoming Engines MSB No. 342E, 

dated May 18, 2004, or Lycoming Engines 

MSB 342F, dated June 4, 2010, inspect in 

accordance with paragraph (h) of this AD. 

(g) Engines That Have Not Had Initial 

Inspections 

For engines that have not had initial 

inspections previously done in accordance 

with Textron Lycoming MSB No. 342, dated 

March 24, 1972; Textron Lycoming MSB No. 

342A, dated May 26, 1992; Textron Lycoming 

MSB No. 342B, dated October 22, 1993; 

Supplement No. 1 to MSB No. 342B, dated 

April 27, 1999; Textron Lycoming MSB No. 

342C, dated April 28, 2000; Textron 

Lycoming MSB No. 342D, dated July 10, 

2001; Lycoming Engines MSB No. 342E, 

dated May 18, 2004, or Lycoming Engines 

MSB 342F, dated June 4, 2010, inspect as 

follows: 

(1) For engines that have not yet had any 

fuel line maintenance done, or have not had 

any fuel line maintenance done since new or 

since the last overhaul, inspect in accordance 

with paragraph (i) of this AD within 50 hours 

time-in-service (TIS) after the effective date 

of this AD. 

(2) For all other engines, inspect in 

accordance with paragraph (i) of this AD 

within 10 hours TIS after the effective date 

of this AD. 

(h) Repetitive Inspections 

Thereafter, inspect at intervals of 100 hours 

TIS (not to exceed 110 hours), at each engine 

overhaul, and after any maintenance has 

been done on the engine where any clamp (or 

clamps) on a fuel injector line (or lines) has 


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been disconnected, moved, or loosened, in 

accordance with paragraph (i) of this AD. 

(i) Inspection Criteria 

Inspect the fuel injector fuel lines and 

clamps between the fuel manifold and the 

fuel injector nozzles, and replace as 

necessary any fuel injector fuel line and 

clamp that does not meet all conditions 

specified in Lycoming Engines MSB No. 

342F, dated June 4, 2010. 

(j) Alternative Methods of Compliance 

(AMOCs) 

The Manager, New York Aircraft 

Certification Office, FAA, has the authority to 

approve AMOCs for this AD if requested 

using the procedures found in 14 CFR 39.19. 

AMOCs approved previously in accordance 

with AD 2008–14–07, Amendment 39–15602, 

are approved as AMOCs for the 

corresponding requirements in paragraph (h) 

of this AD. 

(k) Related Information 

(1) For more information about this AD, 

contact Norm Perenson, Aerospace Engineer, 

New York Aircraft Certification Office, FAA, 

Engine & Propeller Directorate, 1600 Stewart 

Avenue, Suite 410, Westbury, NY 11590; 

phone: (516) 228–7337; fax: (516) 794–5531; 

email: Norman.perenson@faa.gov. 

(2) FAA Special Airworthiness Information 

Bulletin No. NE–07–49, dated September 20, 

2007, is not mandatory, but has additional 

information on this subject. 

(l) Material Incorporated by Reference 

(1) You must use Lycoming Engines 

Mandatory Service Bulletin No. 342F, dated 

June 4, 2010, to perform the actions required 

by this AD. 

(2) The Director of the Federal Register 

approved the incorporation by reference of 

this service bulletin in accordance with 5 

U.S.C. 552(a) and 1 CFR part 51. 

(3) Contact Lycoming Engines, 652 Oliver 

Street, Williamsport, PA 17701, or go to 

www.lycoming.textron.com for a copy of this 

service information. You may review copies 

at the FAA, New England Region, 12 New 

England Executive Park, Burlington, MA. 

(4) You may also review copies of the 

service information that is incorporated by 

reference at the National Archives and 

Records Administration (NARA). For 

information on the availability of this 

material at an NARA facility, call (202) 741– 

6030, or go to http://www.archives.gov/

federal_register/code_of_federal_regulations/

ibr_locations.html. 

Issued in Burlington, Massachusetts, on 

December 5, 2011. 

Peter A. White, 

Manager, Engine & Propeller Directorate, 

Aircraft Certification Service. 

[FR Doc. 2011–32467 Filed 12–20–11; 8:45 am] 

BILLING CODE 4910–13–P 

DEPARTMENT OF COMMERCE 

Bureau of Industry and Security 

15 CFR Part 774 

The Commerce Control List 

CFR Correction 

■ In Title 15 of the Code of Federal 

Regulations, Parts 300 to 799, revised as 

of January 1, 2011, on page 704, in 

Supplement No. 1 of Part 774, ECCN 

1E001 is amended by removing the first 

entry in the table under Reasons for 

control for NS Column 1 and adding an 

entry following the remaining NS 

Column 1 entry that reads ‘‘NS applies 

to ‘‘technology’’ for items controlled by 

1A004.......NS Column 2’’. 

[FR Doc. 2011–32747 Filed 12–20–11; 8:45 am] 

BILLING CODE 1505–01–D 

DEPARTMENT OF COMMERCE 

Bureau of Economic Analysis 

15 CFR Part 806 

[Docket No. 110822526–1715–02] 

RIN 0691–AA80 

Direct Investment Surveys: BE–12, 

Benchmark Survey of Foreign Direct 

Investment in the United States 

AGENCY: Bureau of Economic Analysis, 

Commerce. 

ACTION: Final rule. 

SUMMARY: This final rule amends 

regulations of the Department of 

Commerce’s Bureau of Economic 

Analysis (BEA) to set forth the reporting 

requirements for the 2012 BE–12, 

Benchmark Survey of Foreign Direct 

Investment in the United States. The 

BE–12 survey is conducted every five 

years; the prior survey covered 2007. 

The benchmark survey covers the 

universe of foreign direct investment in 

the United States, and is BEA’s most 

detailed survey of such investment. For 

the 2012 benchmark survey, BEA is 

changing reporting thresholds and data 

items collected, as well as changing the 

names and design of the survey forms. 

The changes are intended to align the 

data collection program for 

multinational companies with available 

resources and align the statistics on 

multinational companies with recent 

changes in financial accounting 

standards and international statistical 

standards. 

DATES: This final rule will be effective 

January 20, 2012. 

FOR FURTHER INFORMATION CONTACT: 

David H. Galler, Chief, Direct 

Investment Division (BE–50), Bureau of 

Economic Analysis, U.S. Department of 

Commerce, Washington, DC 20230; 

email David.Galler@bea.gov or phone 

(202) 606–9835. 

SUPPLEMENTARY INFORMATION: On 

September 21, 2011, BEA published a 

notice of proposed rulemaking that set 

forth revised reporting criteria for the 

BE–12, Benchmark Survey of Foreign 

Direct Investment in the United States 

(76 FR 58420–58424). No comments on 

the proposed rule were received. Thus 

the proposed rule is adopted without 

change. This final rule amends 15 CFR 

806.17 to set forth the reporting 

requirements for the BE–12, Benchmark 

Survey of Foreign Direct Investment in 

the United States. 

The BEA conducts the BE–12 survey 

under the authority of the International 

Investment and Trade in Services 

Survey Act (22 U.S.C. 3101–3108), 

hereinafter, ‘‘the Act.’’ Section 3103(b) 

of the Act provides that ‘‘with respect to 

foreign direct investment in the United 

States, the President shall conduct a 

benchmark survey covering year 1980, a 

benchmark survey covering year 1987, 

and benchmark surveys covering every 

fifth year thereafter.’’ 

The benchmark survey covers the 

universe of foreign direct investment in 

the United States in terms of value, and 

is BEA’s most detailed survey of such 

investment. Foreign direct investment 

in the United States is defined as the 

ownership or control, directly or 

indirectly, by one foreign person 

(foreign parent) of ten percent or more 

of the voting securities of an 

incorporated U.S. business enterprise or 

an equivalent interest in an 

unincorporated U.S. business 

enterprise, including a branch. 

The purpose of the benchmark survey 

is to obtain universe data on the 

financial and operating characteristics 

of U.S. affiliates, and on positions and 

transactions between U.S. affiliates and 

their foreign parent groups (which are 

defined to include all foreign parents 

and foreign affiliates of foreign parents). 

These data are needed to measure the 

size and economic significance of 

foreign direct investment in the United 

States, measure changes in such 

investment, and assess its impact on the 

U.S. economy. Such data are generally 

found in enterprise-level accounting 

records of respondent companies. These 

data are used to derive current universe 

estimates of direct investment from 

sample data collected in other BEA 

surveys in nonbenchmark years. In 

particular, they serve as benchmarks for 


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