Agency Information Collection Activities; Submission to the Office of Management and Budget (OMB) for Review and Approval; Comment Request; Services Surveys: BE-45, Quarterly Survey of Insurance Transactions by U.S. Insurance Companies With Foreign Persons

CourtEconomic Analysis Bureau
Citation86 FR 30913
Publication Date10 Jun 2021
Record Number2021-12194
30913
Federal Register / Vol. 86, No. 110 / Thursday, June 10, 2021 / Notices
SUMMARY
: Notice is hereby given,
pursuant to the provisions of the rules
and regulations of the U.S. Commission
on Civil Rights (Commission) and the
Federal Advisory Committee Act that
the Tennessee Advisory Committee
(Committee) will hold a meeting via
web-conference on Thursday, June 17,
2021, at 12:00 p.m. Central Time. The
purpose of the meeting is for the
committee to discuss proposed civil
rights topics of study.
DATES
: The meetings will be held on:
Thursday, June 17, 2021, at 12:00 p.m.
Central Time https://
civilrights.webex.com/civilrights/
j.php?MTID=m992749f83df222
cdaaa858ecac88662f or Join by phone:
800–360–9505 USA Toll Free; Access
code: 1992 414 037.
FOR FURTHER INFORMATION CONTACT
:
David Barreras, Designated Federal
Officer, at dbarreras@usccr.gov or (202)
499–4066.
SUPPLEMENTARY INFORMATION
: Members
of the public may listen to this
discussion through the above call-in
number. An open comment period will
be provided to allow members of the
public to make a statement as time
allows. Callers can expect to incur
regular charges for calls they initiate
over wireless lines, according to their
wireless plan. The Commission will not
refund any incurred charges.
Individuals who are deaf, deafblind and
hard of hearing may also follow the
proceedings by first calling the Federal
Relay Service at 1–800–877–8339 and
providing the Service with the
conference call number and conference
ID number.
Members of the public are entitled to
submit written comments; the
comments must be received in the
regional office within 30 days following
the meeting. Written comments may be
emailed to David Barreras at dbarreras@
usccr.gov.
Records generated from this meeting
may be inspected and reproduced at the
Regional Programs Unit Office, as they
become available, both before and after
the meeting. Records of the meeting will
be available via www.facadatabase.gov
under the Commission on Civil Rights,
Tennessee Advisory Committee link.
Persons interested in the work of this
Committee are directed to the
Commission’s website, http://
www.usccr.gov, or may contact the
Regional Programs Unit at the above
email or street address.
Agenda
I. Welcome & Roll Call
II. Chair’s Comments
III. Committee Discussion
IV. Next Steps
V. Public Comment
VI. Adjournment
Dated: June 7, 2021.
David Mussatt,
Supervisory Chief, Regional Programs Unit.
[FR Doc. 2021–12190 Filed 6–9–21; 8:45 am]
BILLING CODE P
DEPARTMENT OF COMMERCE
Bureau of Economic Analysis
Agency Information Collection
Activities; Submission to the Office of
Management and Budget (OMB) for
Review and Approval; Comment
Request; Services Surveys: BE–45,
Quarterly Survey of Insurance
Transactions by U.S. Insurance
Companies With Foreign Persons
AGENCY
: Bureau of Economic Analysis,
Commerce.
ACTION
: Notice of Information
Collection, request for comment.
SUMMARY
: The Department of
Commerce, in accordance with the
Paperwork Reduction Act of 1995
(PRA), invites the general public and
other Federal agencies to comment on
proposed and continuing information
collections, which helps us assess the
impact of our information collection
requirements and minimize the public’s
reporting burden. The purpose of this
notice is to allow for 60 days of public
comment preceding submission of the
collection to OMB.
DATES
: To ensure consideration,
comments regarding this proposed
information collection must be received
on or before August 9, 2021.
ADDRESSES
: Interested persons are
invited to submit written comments to
Christopher Stein, Chief, Services
Surveys Branch, Bureau of Economic
Analysis, by email to christopher.stein@
bea.gov or PRAcomments@doc.gov.
Please reference OMB Control Number
0608–0066 in the subject line of your
comments. Do not submit Confidential
Business Information or otherwise
sensitive or protected information.
FOR FURTHER INFORMATION CONTACT
:
Requests for additional information or
specific questions related to collection
activities should be directed to
Christopher Stein, Chief, Services
Surveys Branch, Bureau of Economic
Analysis; 301–278–9189; or via email at
christopher.stein@bea.gov.
SUPPLEMENTARY INFORMATION
:
I. Abstract
The Quarterly Survey of Insurance
Transactions by U.S. Insurance
Companies with Foreign Persons (Form
BE–45) is a survey that collects data
from U.S. persons who engage in
covered insurance transactions. A U.S.
person means any individual, branch,
partnership, associated group,
association, estate, trust, corporation, or
other organization (whether or not
organized under the laws of any State),
resident in the United States or subject
to the jurisdiction of the United States.
A U.S. person must report if they had
combined transactions in the covered
insurance services with foreign persons
that exceeded $8 million (based on
absolute value) for the previous
calendar year or are expected to exceed
that amount during the current calendar
year.
The data are needed to monitor U.S.
trade in insurance 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 trade in
insurance services component of the
U.S. international transactions accounts
(ITAs) and national income and product
accounts (NIPAs).
The Bureau of Economic Analysis
(BEA) is proposing a single modification
to the survey reporting requirements
and a change to the survey due date,
beginning with reporting for first quarter
2022. The proposed modifications to the
BE–45 survey would allow BEA to
increase the quality and usefulness of
BEA’s statistics on trade in insurance
services.
BEA proposes to adjust the reporting
requirements of the survey so they are
applied based on a combined threshold
for premiums, losses, and auxiliary
services, for the eight covered
transaction categories: (1) Premiums
earned on reinsurance assumed from
insurance companies resident abroad;
(2) losses incurred on reinsurance
assumed from insurance companies
resident abroad; (3) premiums earned on
primary insurance sold to foreign
persons; (4) losses incurred on primary
insurance sold to foreign persons; (5)
premiums incurred on reinsurance
ceded to insurance companies resident
abroad; (6) losses recovered on
reinsurance ceded to insurance
companies resident abroad; (7) receipts
for auxiliary insurance services; and (8)
payments for auxiliary insurance
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30914
Federal Register / Vol. 86, No. 110 / Thursday, June 10, 2021 / Notices
services. U.S. persons with combined
transactions in excess of $8 million
(based on absolute value), would be
required to disaggregate all transaction
types by country and by relationship of
the foreign transactor to the U.S.
reporter (foreign affiliate, foreign parent
group, or unaffiliated) on the mandatory
schedule(s). On the current survey, the
reporting requirements are applied for
each transaction type separately. This
change will align the survey’s reporting
requirements with those of the other
quarterly services surveys conducted by
BEA.
BEA also proposes to change the due
date of the survey to 30 days after the
close of each calendar quarter from 45
days for the three quarters that are not
the final calendar quarter of the year.
For the close of the final calendar
quarter of the year, reports would be
due 45 days after the close of the quarter
instead of 90 days. Shortening the
reporting timeline will allow BEA to
produce more accurate and complete
trade in services statistics in
preliminary estimates of the ITAs,
which is critical information for
policymakers’ timely decisions on
international trade policy. The earlier
due date will allow BEA to use more
reported data for preliminary statistics,
improving the accuracy of both the
aggregates and the country detail, and
reducing revisions in subsequent
statistical releases. In addition, the
proposed reporting deadlines are also
consistent with the reporting deadlines
of BEA’s quarterly direct investment
surveys.
BEA estimates there will be a small
change in the number of respondents
that would now be required to provide
additional country and affiliation detail
on the mandatory schedules due to the
change in reporting requirements. Most
quarterly respondents are large enough
that they are already required to report
detail on the mandatory schedules. BEA
estimates that approximately 13
additional respondents would now be
required to provide the additional detail
that were not previously required to do
so, and on average would report
transactions with 3 countries.
The additional mandatory reporting
for individual transactions previously
below the reporting thresholds,
resulting from the application of the
threshold to combined transactions,
should have a minimal impact on
reporting burden for the reporters who
will now be required to complete the
mandatory schedules. Since these
respondents represent only a small
portion of the total number of reporters
already filing full country and affiliation
detail, and because BEA believes this
data is readily available in their existing
accounting records, overall burden for
completing the full survey with data
will continue to average 9 hours per
response.
BEA estimates there will be no change
in burden hours per response as a result
of the proposed change in survey due
dates. While survey respondents will
have to file earlier, the burden for the
survey is unchanged because the same
information will be required on the
survey as in the past. The language in
the instructions and definitions will be
reviewed and adjusted as necessary to
clarify survey requirements.
II. Method of Collection
BEA contacts potential respondents
by mail at the end of each quarter.
Respondents would be required to file
the completed BE–45 forms within 30
days after the end of each calendar
quarter that is not the final quarter of
the year and within 45 days after the
close of the final calendar quarter of the
year. Reports would be required from
each U.S. person that had combined
transactions in the covered insurance
services with foreign persons that
exceeded $8 million (based on absolute
value), for the previous calendar year or
are expected to exceed that amount
during the current calendar year.
Entities required to report will be
contacted individually by BEA. Entities
not contacted by BEA have no reporting
responsibilities.
BEA offers its electronic filing option,
the eFile system, for use in reporting on
Form BE–45. For more information
about eFile, go to www.bea.gov/efile. In
addition, BEA posts all its survey forms
and reporting instructions on its
website, www.bea.gov/ssb. These may
be downloaded, completed, printed, and
submitted via fax or mail.
III. Data
OMB Control Number: 0608–0066.
Form Number(s): BE–45.
Type of Review: Regular submission.
Affected Public: Business or other for-
profit organizations.
Estimated Number of Respondents:
2,200 annually (550 filed each quarter;
515 reporting mandatory data, and 35
that would file exemption claims or
voluntary responses).
Estimated Time per Response: 9 hours
is the average for those reporting data
and one hour is the average for those
filing an exemption claim. Hours may
vary considerably among respondents
because of differences in company size
and complexity.
Estimated Total Annual Burden
Hours: 18,680.
Estimated Total Annual Cost to
Public: $0.
Respondent’s Obligation: Mandatory.
Legal Authority: International
Investment and Trade in Services
Survey Act (Pub. L. 94–472, 22 U.S.C.
3101–3108, as amended).
IV. Request for Comments
Comments are invited on: (a) Whether
the proposed collection of information
is necessary for the proper performance
of the functions of the Agency,
including whether the information will
have practical utility; (b) the accuracy of
the Agency’s estimate of the burden
(including hours and cost) of the
proposed collection of information; (c)
ways to enhance the quality, utility, and
clarity of the information to be
collected; and (d) ways to minimize the
burden of the collection of information
on respondents, including through the
use of automated collection techniques
or other forms of information
technology.
Comments that you submit in
response to this notice are a matter of
public record. We will include or
summarize each comment in our request
to OMB to approve this ICR. Before
including your address, phone number,
email address, or other personal
identifying information in your
comment, you should be aware that
your entire comment—including your
personal identifying information—may
be made publicly available at any time.
While you may ask us in your comment
to withhold your personal identifying
information from public review, we
cannot guarantee that we will be able to
do so.
Sheleen Dumas,
Department PRA Clearance Officer, Office of
the Chief Information Officer, Commerce
Department.
[FR Doc. 2021–12194 Filed 6–9–21; 8:45 am]
BILLING CODE 3510–06–P
DEPARTMENT OF COMMERCE
Foreign-Trade Zones Board
[B–7–2021]
Foreign-Trade Zone (FTZ) 134—
Chattanooga, Tennessee;
Authorization of Production Activity;
Wacker Polysilicon North America,
LLC (Hydrophilic Fumed Silica);
Charleston, Tennessee
On February 5, 2021, Wacker
Polysilicon North America, LLC
submitted a notification of proposed
production activity to the FTZ Board for
its facility within Subzone 134B, in
Charleston, Tennessee.
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