[Federal Register Volume 77, Number 89 (Tuesday, May 8, 2012)]
[Notices]
[Page 27021]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-10982]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Quarterly 
Survey of Financial Services Transactions Between U.S. Financial 
Services Providers and Foreign Persons

AGENCY: Bureau of Economic Analysis, Commerce.

ACTION: Notice.

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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.

DATES: Written comments must be submitted on or before July 9, 2012.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6616, 14th 
and Constitution Avenue NW., Washington, DC 20230, or via the Internet 
at [email protected].

FOR FURTHER INFORMATION CONTACT: Direct requests for additional 
information or copies of the survey and instructions to Christopher 
Emond, Chief, Special Surveys Branch, Balance of Payments Division, 
(BE-50), Bureau of Economic Analysis, U.S. Department of Commerce, 
Washington, DC 20230; phone: (202) 606-9826; fax: (202) 606-5318; or 
via the Internet at [email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract

    Form BE-185, Quarterly Survey of Financial Services Transactions 
between U.S. Financial Services Providers and Foreign Persons, obtains 
quarterly data from U.S. financial services providers whose sales of 
covered financial services to foreign persons exceeded $20 million for 
the previous fiscal year or are expected to exceed that amount during 
the current fiscal year, or whose purchases of covered financial 
services from foreign persons exceeded $15 million for the previous 
fiscal year or are expected to exceed that amount during the current 
fiscal year. The data collected are cut-off sample data. In addition, 
estimates are developed based upon previously reported or estimated 
data for non-respondents, including those U.S. financial services 
companies that fall below the reporting threshold for the quarterly 
survey but reported on a previous benchmark survey.
    The data are needed to monitor U.S. international trade in 
financial services, analyze its impact on the U.S. and foreign 
economies, compile and improve the U.S. economic accounts, support U.S. 
commercial policy on trade in financial services, conduct trade 
promotion, and improve the ability of U.S. businesses to identify and 
evaluate market opportunities.
    Responses will be due within 45 days after the close of each 
calendar quarter, except for the respondents' final quarter of their 
fiscal year, when reports are due within 90 days after the close of the 
quarter. The data from the survey are primarily intended as general 
purpose statistics. They are needed to answer any number of research 
and policy questions related to cross-border trade in financial 
services.
    The form is unchanged from the previous version. No changes in the 
data collected or in exemption levels are proposed.

II. Method of Collection

    The surveys are sent to the respondents by U.S. mail; the surveys 
are also available from the Bureau of Economic Analysis (BEA) Web site. 
Respondents return the surveys one of four ways: U.S. mail, 
electronically using BEA's electronic collection system (eFile), fax, 
or email.

III. Data

    OMB Number: 0608-0065.
    Form Number: BE-185.
    Type of Review: Regular submission (extension of a currently 
approved information collection).
    Affected Public: Businesses or other for-profit organizations and 
non-profit organizations.
    Estimated Number of Respondents: 675 per quarter; 2,700 annually.
    Estimated Time per Response: 10 hours per mandatory response and 1 
hour per other responses.
    Estimated Total Annual Burden Hours: 22,500.
    Estimated Total Annual Cost to Public: $0.
    Respondent's Obligation: Mandatory.
    Legal Authority: The International Investment and Trade in Services 
Survey Act, 22 U.S.C. 3101-3108, as amended and by Section 5408 of the 
Omnibus Trade and Competitiveness Act of 1988.

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 will have 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 2, 2012.
Glenna Mickelson,
Management Analyst, Office of Chief Information Officer.
[FR Doc. 2012-10982 Filed 5-7-12; 8:45 am]
BILLING CODE 3510-06-P