[Federal Register Volume 83, Number 186 (Tuesday, September 25, 2018)]
[Notices]
[Page 48415]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-20787]
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DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Submission for OMB Review; Comment Request
The Department of Commerce will submit 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 (BEA), Department of Commerce.
Title: Quarterly Survey of Financial Services Transactions between
U.S. Financial Services Providers and Foreign Persons.
OMB Control Number: 0608-0065.
Form Number: BE-185.
Type of Request: Regular submission.
Number of Responses: 2,860 annually (715 filed each quarter; 580
reporting mandatory data, and 135 that would file other responses).
Average Hours per Response: 10 hours is the average for those
reporting data and one hour is the average for those filing an
exemption or providing voluntary responses, but hours may vary
considerably among respondents because of differences in company size
and complexity.
Estimated Total Annual Burden Hours: 23,740.
Needs and Uses: The Quarterly Survey of Financial Services
Transactions between U.S. Financial Services Providers and Foreign
Persons (BE-185) is one of BEA's primary data sources for its estimates
of financial services exports and imports. A U.S. financial services
provider must report if they had sales of covered services to foreign
persons that exceeded $20 million for the previous fiscal year, or 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 are expected to exceed
that amount during the current fiscal year.
The data are needed to monitor U.S. trade in financial services, to
analyze the impact of these cross-border services 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 (ITAs) and national income and product accounts
(NIPAs).
The Bureau of Economic Analysis (BEA) is not making any
modifications to the current BE-185 survey. The effort to keep current
reporting requirements 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.
Affected Public: Businesses or other for-profit organizations.
Frequency: Quarterly.
Respondent's Obligation: Mandatory.
OMB Desk Officer: Robert Sivinski, (202) 395-1205.
This information collection request may be viewed at reginfo.gov
http://www.reginfo.gov/public/. Follow the instructions to view
Department of Commerce collections currently under review by OMB.
Written comments and recommendations for the proposed information
collection should be sent within 30 days of publication of this notice
to [email protected].
Sheleen Dumas,
Departmental Lead PRA Officer, Office of the Chief Information Officer.
[FR Doc. 2018-20787 Filed 9-24-18; 8:45 am]
BILLING CODE 3510-06-P