[Federal Register Volume 63, Number 28 (Wednesday, February 11, 1998)]
[Notices]
[Page 6889]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-3481]


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DEPARTMENT OF COMMERCE


Submission for OMB Review; Comment Request

    DOC has submitted to the Office of Management and Budget (OMB) for 
clearance the following proposal for collection of information under 
the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35).
Agency: Bureau of Economic Analysis.
    Title: Direct Transactions of U.S. Reporter with Foreign Affiliate.
    Form Number(s): BE-577.
    Agency Approval Number: 0608-0004.
    Type of Request: Revision of a currently approved collection.
    Burden: 64,000 hours.
    Number of Respondents: 12,800 respondents, 4 responses each per 
year.
    Avg Hours Per Response: 1\1/4\ hours.
    Needs and Uses: The survey collects quarterly sample data on 
transactions and positions between U.S.-owned foreign business 
enterprises and their U.S. parents. Universe estimates are developed 
from the reported sample data. The data are needed to compile the U.S. 
international transactions, input-output, and national income and 
product accounts, and the international investment position of the 
United States. The data are also needed to measure the economic 
significance of U.S. direct investment abroad, measure changes in such 
investment, and assess its importance.
    In addition, the data are needed by the Departments of Treasury, 
State, and Commerce, the Office of the U.S. Trade Representative, and 
the Council of Economic Advisers to carry out U.S. international 
economic policy. They are also needed by the Federal Reserve Board in 
the conduct of U.S. monetary policy. Such policy must be based upon an 
informed analysis of current information on cross border transactions, 
including transactions between U.S. affiliates and their foreign 
parents. The data are particularly valuable to these agencies because 
they are collected, analyzed, and published within 90 days after the 
end of each calendar quarter, allowing data users to see the 
consequences of changes in economic conditions almost immediately.
    Affected Public: Businesses or other for-profit institutions.
    Frequency: Quarterly.
    Respondent's Obligation: Mandatory.
    Legal Authority: Title 22 U.S.C., Sections 3101-3108, as amended.
    OMB Desk Officer: Paul Bugg, (202) 395-3093.
    Copies of the above information collection proposal can be obtained 
by calling or writing Linda Engelmeier, DOC Forms Clearance Officer, 
(202) 482-3272, Department of Commerce, Room 5732, 14th Street and 
Constitution Avenue, NW, Washington, DC 20230.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to Paul Bugg, OMB Desk Officer, Room 10201, New Executive Office 
Building, Washington, DC 20503.

    Dated: February 6, 1998.
Linda Engelmeier,
Departmental Forms Clearance Officer, Office of Management and 
Organization.
[FR Doc. 98-3481 Filed 2-10-98; 8:45 am]
BILLING CODE 3510-06-P