Payment by banks and other financial institutions of U.S. Savings Bonds

Forms and Documents

Document	Type	Status	Availability
EZCLEAR.stm.pdf	Supporting Statement A	Uploaded 2006-10-16	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
16588	Payment by banks and other financial institutions of U.S. Savings Bonds		Modified

ICR Details

OMB Control No: 1535-0087	ICR Reference No: 200610-1535-006
Status: Historical Active	Previous ICR Reference No: 200311-1535-004
Agency/Subagency: TREAS/BPD	Agency Tracking No:
Title: Payment by banks and other financial institutions of U.S. Savings Bonds
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 01/12/2007
	Date Received in OIRA: 11/09/2006
Terms of Clearance: The burden change was reclassified as an adjustment, per the explanation provided in the supporting statement.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	01/31/2010	36 Months From Approved	01/31/2007
Responses	47,516,700	0	47,300,000
Time Burden (Hours)	56,227	0	56,356
Cost Burden (Dollars)	0	0	0

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Abstract: Qualified financial institutions are authorized to redeem eligible savings bonds and receive settlement through FRB check collection system.

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Authorizing Statute(s): US Code: 31 USC CFR Part 321 Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 156	08/14/2006
30-day Notice:	Federal Register Citation:	Citation Date:
	71 FR 65569	11/08/2006
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Payment by banks and other financial institutions of U.S. Savings Bonds

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	47,516,700	47,300,000	0	216,700	0	0
Annual Time Burden (Hours)	56,227	56,356	0	0	-129	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Adjusted to reflect current totals.

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Annual Cost to Federal Government: $35,176,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Uncollected

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 11/09/2006

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