International Services Surveys: BE-80, Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and Unaffiliated Foreign Persons

Résumé

This notice sets forth proposed rules to revise 15 CFR part 801.11 to present the reporting requirements for the BE-80, Benchmark Survey of Financial Services Transactions Between U.S. Financial Services Providers and 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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). BEA proposes to raise the exemption level for the 1999 survey to $3 million in covered sales or purchases transactions, from $1 million on the previous (1994) survey. Raising the exemption level will reduce respondent 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. Finally, BEA has restated the definition of ``financial services provider'' using the nomenclature of the new North American Industry Classification