federal_register: 00-24214
Data license: Public Domain (U.S. Government data) · Data source: Federal Register API & Regulations.gov API
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| document_number | title | type | abstract | publication_date | pub_year | pub_month | html_url | pdf_url | agency_names | agency_ids | excerpts |
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| 00-24214 | International Services Surveys: BE-82, Annual Survey of Financial Services Transactions Between U.S. Financial Services Providers and Unaffiliated Foreign Persons | Proposed Rule | This document sets forth proposed rules to revise regulations to present the reporting requirements for the BE-82, Annual Survey of Financial Services Transactions Between U.S. Financial Services Providers an Unaffiliated Foreign Persons. 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. The BE-82 survey is mandatory and is conducted annually, in which years the BE-80, Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and Unaffiliated Foreign Persons is not conducted, by the Bureau of Economic Analysis (BEA), U.S. Department of Commerce, under the International Investment and Trade in Services Survey Act hereinafter "the Act," and under Section 5408 of the Omnibus Trade and Competitiveness Act of 1988. The first annual survey conducted under these proposed rules will cover transactions in fiscal year 2000. BEA will send the survey to potential respondents in January of the year 2001; responses will be due by March 31, 2001. The last annual survey was conducted for 1998. The annual survey will obtain data used to update universe data, collected on the BE-80 benchmark survey, on trade in financial services, by type and by country, between U.S. financial services providers and unaffiliated foreign persons. Data from the BE-82 survey (and the benchmark survey, the BE-80) are needed to monitor 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 financial services, conduct trade promotion, improve the ability of U.S. businesses to identify and evaluate market opportunities, and for other Government uses. BEA proposes to raise the exemption level for the BE-82 survey to $10 million in covered sales or purchases transactions, from $5 million on the previous (1998) survey. Raising the exemption level will reduce burden, particularly for small companies. BEA also proposes to combine private placement services with underwriting services, combine foreign exchange brokerage services with other brokerage services, and create a separate category for electronic funds transfers. The changes in the types of services to be reported separately mirror changes introduced in the 1999 BE-80 benchmark survey. Finally, BEA has restated the definition of "financial services provider" using the nomenclature of the new North American Industry Classification System that has replaced the U.S. Standard Industrial Classification System. The changes in the types of services to be reported separately reflect BEA's experience in collecting data on financial services transactions over the past 6 years. Data collected for both private placement and foreign exchange brokerage services have been very small and do not justify the continuation of separate reporting. Electronic funds transfer services, in contract, appear to account for a large fraction of both total receipts and total payments for "other financial services," in which electronic funds transfers were previously included. | 2000-09-21 | 2000 | 9 | https://www.federalregister.gov/documents/2000/09/21/00-24214/international-services-surveys-be-82-annual-survey-of-financial-services-transactions-between-us | https://www.govinfo.gov/content/pkg/FR-2000-09-21/pdf/00-24214.pdf | Commerce Department; Economic Analysis Bureau | 54,118 | This document sets forth proposed rules to revise regulations to present the reporting requirements for the BE-82, Annual Survey of Financial Services Transactions Between U.S. Financial Services Providers an Unaffiliated Foreign Persons. The... |