View Information Collection Request (ICR) Package
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
0608-0065
ICR Reference No:
200910-0608-003
Status:
Historical Active
Previous ICR Reference No:
200702-0608-004
Agency/Subagency:
DOC/EASA
Agency Tracking No:
200707-0608-185
Title:
Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons
Type of Information Collection:
Extension without change of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
12/18/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
11/05/2009
Terms of Clearance:
Prior to the commencement of the Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons survey form mailings, the Bureau of Economic Analysis (BEA) shall provide on its Internet site prominent links to a complete set of finalized survey forms, including instructions and cover letters.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
12/31/2012
36 Months From Approved
01/31/2010
Responses
2,500
0
700
Time Burden (Hours)
16,900
0
7,000
Cost Burden (Dollars)
0
0
0
Abstract:
This survey will be used in monitoring U.S. exports and imports of financial services, analyzing their impact on the U.S. and foreign economies, compiling the international transactions, national income and product, and input-output accounts on the United States, supporting U.S. international trade policy on financial services, assessing U.S. competitiveness in international trade in financial services, and improving the ability of U.S. businesses to identify and evaluate market opportunities.
Authorizing Statute(s):
PL:
Pub.L. 94 - 472 22 U.S.C. 3101-3108
Name of Law: International Investment and Trade in Services Survey Act
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
74 FR 34711
07/17/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 57143
11/04/2009
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons (Private Sector Mandatory)
BE-185
Quarterly Survey of Financial Services Transactions Between U.S. Financial Services Providers and Foreign Persons
Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons (Private Sector Voluntary)
Quarterly Survey of Financial Services Transactions between U.S. Financial Services Providers and Foreign Persons (State and Local Gov.)
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
2,500
700
0
0
1,800
0
Annual Time Burden (Hours)
16,900
7,000
0
0
9,900
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
No
Burden Increase Due to:
Burden decreases because of Program Change due to Agency Discretion:
No
Burden Reduction Due to:
Short Statement:
The reason for the adjustment is two-fold. First, the number of respondents to the survey is greater then anticipated when the survey was first conducted three years ago. This is the first time the survey has been renewed so the adjustment is being made at this time. Second, BEA is changing the calculation of burden hours to include voluntary reporting of data. In the past, the burden hours were only reported for companies that filed mandatory data.
Annual Cost to Federal Government:
$390,000
Does this IC contain surveys, censuses, or employ statistical methods?
Yes
Part B of Supporting Statement
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Christopher Emond 202 606-9826 christopher.emond@bea.gov
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
11/05/2009
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