BE-150 support sttmt section B v4

SUPPORTING STATEMENT

U.S DEPARTMENT OF COMMERCE

BUREAU OF ECONOMIC ANALYSIS

QUARTERLY SURVEY OF PAYMENT CARD AND BANK CARD TRANSACTIONS RELATED TO INTERNATIONAL TRAVEL

OMB Control Number: 0608-0072

B. COLLECTIONS OF INFORMATION EMPLOYING STATISTICAL METHODS

1. Describe (including a numerical estimate) the potential respondent universe and any sampling or other respondent selection method to be used. Data on the number of entities (e.g. establishments, State and local governmental units, households, or persons) in the universe and the corresponding sample are to be provided in tabular form. The tabulation must also include expected response rates for the collection as a whole. If the collection has been conducted before, provide the actual response rate achieved.

The potential respondent universe is the major U.S. credit card companies and personal identification number (PIN)-based debit network companies that process payment and bank card transactions between U.S. cardholders and foreign businesses and between foreign cardholders and U.S. businesses – by country of the transaction (for U.S. cardholders) or by country of residency of the cardholder (for foreign cardholders). The Bureau of Economic Analysis (BEA) plans to send the survey to each of the companies on a quarterly basis. Therefore, BEA expects six reports each quarter, or 24 annually. BEA expects the response rate to be 100%.

Response rate for the current quarterly survey is 100%. BEA expects that this response rate will continue for the proposed survey. This will provide information of sufficient accuracy and reliability for its intended purposes.

2. Describe the procedures for the collection, including: the statistical methodology for stratification and sample selection; the estimation procedure; the degree of accuracy needed for the purpose described in the justification; any unusual problems requiring specialized sampling procedures; and any use of periodic (less frequent than annual) data collection cycles to reduce burden.

The survey will be administered to the four major U.S. credit card companies and the two PIN-based debit network companies. BEA expects each of the potential respondents to file the survey on a timely basis. In the case that a survey is not filed, or is filed too late to be used for the current estimate, BEA will generate an estimate based upon data previously reported or estimated for the non-respondent, in conjunction with information on changes in the data for companies that did respond. A high degree of accuracy is needed for the purposes stated in the justification. No unusual problems have been identified that would require the use of specialized sampling procedures; because the universe is small (six companies), BEA will be collecting data from the entire universe. The data tabulated from this proposed survey will be used to produce monthly and quarterly estimates, so any use of periodic data collection cycles would reduce the effectiveness of these travel estimates.

3. Describe the methods used to maximize response rates and to deal with nonresponse. The accuracy and reliability of the information collected must be shown to be adequate for the intended uses. For collections based on sampling, a special justification must be provided if they will not yield "reliable" data that can be generalized to the universe studied.

BEA plans to maximize response rates by sending the survey electronically to the respondents according to a schedule provided by BEA to the respondents. Nonrespondents will be contacted by BEA staff and, in the event of continued nonresponse, will be referred to the Office of General Counsel for further action.

4. Describe any tests of procedures or methods to be undertaken. Tests are encouraged as effective means to refine collections, but if ten or more test respondents are involved OMB must give prior approval.

This submission supports a proposed rulemaking, which will solicit comments on this survey. BEA maintains a continuing dialog with respondents and with data users, including its own internal users through the Bureau’s Source Data Improvement and Evaluation Program, to ensure that, as far as possible, the required data serve their intended purposes and are available from existing records, that instructions are clear, and that unreasonable burdens are not imposed.

In April of this year, BEA mailed a copy of the proposed survey and an introductory letter to the major credit card and PIN-based debit network companies seeking comments on the types of transactions covered by the proposed survey. BEA also offered to discuss its proposed survey with these companies. Subsequently, BEA staff spoke by telephone with four of the major credit card companies and to one PIN-based debit network company to explain the proposed changes to the survey, receive feedback on the survey design, and better understand the ability of the companies to submit the information requested by BEA. The companies responded that they can produce most the data requested by BEA using their current recordkeeping systems. One company requested that the due date be changed from 30 days after the end of the quarter to 45 days after the end of the quarter. BEA accommodated the company’s request and changed the proposed due date to 45 days after the end of the quarter

5. Provide the name and telephone number of individuals consulted on the statistical aspects of the design, and the name of the agency unit, contractor(s), grantee(s), or other person(s) who will actually collect and/or analyze the information for the agency.

The survey is designed and conducted within BEA by the Balance of Payments Division (BPD). For further information, contact Chris Emond via email at Christopher.Emond@bea.gov or by phone at 202-606-9826.

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