[Federal Register Volume 63, Number 93 (Thursday, May 14, 1998)]
[Notices]
[Page 26770]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-12822]



[[Page 26770]]

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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


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 July 13, 1998.

ADDRESSES: Direct all written comments to Linda Engelmeier, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
5327, 14th and Constitution Avenue, NW, Washington, DC 20230.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to: R. David Belli, U.S. Department of Commerce, Bureau of 
Economic Analysis, BE-50 (OC), Washington, DC 20230 (Telephone: 202-
606-9800).

SUPPLEMENTARY INFORMATION:

I. Abstract

    The BE-82 Annual Survey of Financial Services Transactions between 
U.S. Financial Services Providers and Unaffiliated Foreign Persons will 
obtain data on financial services transactions between U.S. financial 
services providers and unaffiliated foreign persons and covers all 
transactions above a size-exemption level. The data from the survey 
will update the data collected in the quinquennial BE-80 benchmark 
survey of such 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. BEA is requesting only an extension of a 
currently approved collection and is not proposing any changes in 
either language or data collected.

II. Method of Collection

    The survey will be sent each year to potential respondents in 
January and responses are due by March 31. A U.S. person that is a 
financial services provider is required to report if its total receipts 
from, or total payments to, unaffiliated foreign persons for financial 
services exceeded $5 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 international financial services transactions.
    Estimated Number of Responses: 425.
    Estimated Time Per Response: 7.5 hours.
    Estimated Total Annual Burden Hours: 3,200.
    Estimated Total Annual Cost: $96,000 (based on an estimated 
reporting burden of 3,200 hours and an estimated hourly cost of $30).

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 also will become a matter of public record.

    Dated: May 8, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 98-12822 Filed 5-13-98; 8:45 am]
BILLING CODE 3510-06-P