[Federal Register Volume 80, Number 202 (Tuesday, October 20, 2015)]
[Notices]
[Page 63503]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-26495]


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DEPARTMENT OF COMMERCE


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: 2,700 annually (675 filed each quarter; 550 
reporting mandatory data, and 125 that would file other responses).
    Average Hours per Response: 10 hours is the average for those 
reporting data and 1 hour is the average for those not reporting data 
or providing voluntary responses, but hours may vary considerably among 
respondents because of differences in company size and complexity.
    Estimated Total Annual Burden Hours: 22,500.
    Needs and Uses: 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 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 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 no additions and 
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.
    This information collection request may be viewed at 
www.reginfo.gov. Follow the instructions to view the 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 OIRA [email protected] or faxed to (202) 395-5806.

    Dated: October 14, 2015.
Glenna Mickelson,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 2015-26495 Filed 10-19-15; 8:45 am]
BILLING CODE 3510-06-P