[Federal Register Volume 73, Number 182 (Thursday, September 18, 2008)]
[Proposed Rules]
[Pages 54095-54097]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E8-21896]


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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: [email protected].
     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 [email protected], 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 
[email protected]; 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