Agency information collection activities: Submission for OMB review; comment request,

[Federal Register: February 11, 1998 (Volume 63, Number 28)]

[Notices]

[Page 6889]

From the Federal Register Online via GPO Access [wais.access.gpo.gov]

[DOCID:fr11fe98-25]

DEPARTMENT OF COMMERCE

Submission for OMB Review; Comment Request

DOC has submitted 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.

Title: Direct Transactions of U.S. Reporter with Foreign Affiliate.

Form Number(s): BE-577.

Agency Approval Number: 0608-0004.

Type of Request: Revision of a currently approved collection.

Burden: 64,000 hours.

Number of Respondents: 12,800 respondents, 4 responses each per year.

Avg Hours Per Response: 1\1/4\ hours.

Needs and Uses: The survey collects quarterly sample data on transactions and positions between U.S.-owned foreign business enterprises and their U.S. parents. Universe estimates are developed from the reported sample data. The data are needed to compile the U.S. international transactions, input-output, and national income and product accounts, and the international investment position of the United States. The data are also needed to measure the economic significance of U.S. direct investment abroad, measure changes in such investment, and assess its importance.

In addition, the data are needed by the Departments of Treasury, State, and Commerce, the Office of the U.S. Trade Representative, and the Council of Economic Advisers to carry out U.S. international economic policy. They are also needed by the Federal Reserve Board in the conduct of U.S. monetary policy. Such policy must be based upon an informed analysis of current information on cross border transactions, including transactions between U.S. affiliates and their foreign parents. The data are particularly valuable to these agencies because they are collected, analyzed, and published within 90 days after the end of each calendar quarter, allowing data users to see the consequences of changes in economic conditions almost immediately.

Affected Public: Businesses or other for-profit institutions.

Frequency: Quarterly.

Respondent's Obligation: Mandatory.

Legal Authority: Title 22 U.S.C., Sections 3101-3108, as amended.

OMB Desk Officer: Paul Bugg, (202) 395-3093.

Copies of the above information collection proposal can be obtained by calling or writing Linda Engelmeier, DOC Forms Clearance Officer, (202) 482-3272, Department of Commerce, Room 5732, 14th Street and Constitution Avenue, NW, Washington, DC 20230.

Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to Paul Bugg, OMB Desk Officer, Room 10201, New Executive Office Building, Washington, DC 20503.

Dated: February 6, 1998. Linda Engelmeier, Departmental Forms Clearance Officer, Office of Management and Organization.

[FR Doc. 98-3481Filed2-10-98; 8:45 am]

BILLING CODE 3510-06-P