[Federal Register Volume 80, Number 156 (Thursday, August 13, 2015)]
[Notices]
[Pages 48492-48493]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-19880]


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DEPARTMENT OF COMMERCE

Bureau of Economic Analysis


Proposed Information Collection; Comment Request; Services 
Surveys: BE-185, Quarterly Survey of Financial Services Transactions 
Between U.S. Financial Services Providers and Foreign Persons

AGENCY: Bureau of Economic Analysis, Department of 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

DATES: Written comments must be submitted on or before October 13, 
2015.

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 email at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to Christopher Stein, Chief, Services Surveys Branch (SSB) 
BE-50, Bureau of Economic Analysis, U.S.

[[Page 48493]]

Department of Commerce, Washington, DC 20230; phone: (202) 606-9850; 
fax: (202) 606-5318; email: [email protected].

SUPPLEMENTARY INFORMATION: 

I. Abstract

    The Quarterly Survey of Financial Services Transactions between 
U.S. Financial Services Providers and Foreign Persons (BE-185) is a 
survey that collects data from U.S. financial services providers that 
engage in covered transactions with foreign persons in financial 
services. A U.S. person must report if it had sales of covered services 
to foreign persons that exceeded $20 million for the previous fiscal 
year, or that are expected to exceed that amount during the current 
fiscal year, or if it had purchases of covered services from foreign 
persons that exceeded $15 million for the previous fiscal year, or that 
are expected to exceed that amount during the current fiscal year.
    The data collected on the survey are needed to monitor U.S. trade 
in services, to analyze the impact of U.S. trade on the U.S. and 
foreign economies, to compile and improve the U.S. economic accounts, 
to support U.S. commercial policy on trade in services, to conduct 
trade promotion, and to improve the ability of U.S. businesses to 
identify and evaluate market opportunities. The data are used in 
estimating the financial services component of the U.S. international 
transactions accounts and national income and product accounts.
    The Bureau of Economic Analysis (BEA) is proposing minor additions 
and modifications to the current BE-185 survey. The effort to keep 
current reporting requirements generally unchanged is intended to 
minimize respondent burden while considering the needs of data users. 
Existing language in the instructions and definitions will be reviewed 
and adjusted as necessary to clarify survey requirements.

II. Method of Collection

    Form BE-185 is a quarterly report that must be filed within 45 days 
after the end of each fiscal quarter, or within 90 days after the close 
of the fiscal year. BEA offers its electronic filing option, the eFile 
system, for reporting on Form BE-185. For more information about eFile, 
go to www.bea.gov/efile.

III. Data

    OMB Control Number: 0608-0065.
    Form Number: BE-185.
    Type of Review: Regular submission.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Responses: 2,700 annually (675 filed each 
quarter: 550 reporting mandatory data, and 125 that would file other 
responses).
    Estimated Time per Response: 10 hours is the average for those 
reporting data, and 1 hour is the average for other responses, but 
hours may vary considerably among respondents because of differences in 
company size and complexity.
    Estimated Total Annual Burden Hours: 22,500.
    Estimated Total Annual Cost to Public: $0.
    Respondent's Obligation: Mandatory.
    Legal Authority: International Investment and Trade in Services 
Survey Act (Public Law 94-472, 22 U.S.C. 3101-3108, as amended) and 
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: August 7, 2015.
Glenna Mickelson,
Management Analyst, Office of Chief Information Officer.
[FR Doc. 2015-19880 Filed 8-12-15; 8:45 am]
BILLING CODE 3510-06-P