PART343.stm

SUPPORTING STATEMENT
Justification for:
31 CFR PART 343, "Offering of United States Mortgage
Guaranty Insurance Company Tax and Loss Bonds.
1. Explain the circumstances that make the collection of
information necessary. Identify any legal or
administrative requirements that necessitate the
collection. Chapter 31 of Title 31 of the United States
Code, authorizes the Secretary of the Treasury to
prescribe the terms and conditions, including the
form, of United States Treasury bonds, notes and
bills. The information collected is essential to
establish and maintain Tax and Loss Bond accounts (31
CFR Part 343). This regulation governs issues,
reissues and redemptions of Tax and Loss bonds. The
information requested will be used to issue a
Statement of Account to the entity, establish issue
and maturity dates for the bonds, and provide
electronic payment routing instructions for the
proceeds
2. Indicate how, by whom, and for what purpose the
information is to be used. The information currently
being collected is used by the Bureau of the Public
Debt to perform functions in connection with the
issuance, reissue and payment of Tax and Loss bonds.
If the collection of information were not conducted,
the Treasury would be unable to establish accounts for
investors who wish the Department to hold their
accounts in book-entry form.

3. Describe whether, and to what extent, the collection
of information involves the use of automated,
electronic, mechanical, or other technological
collection techniques or other forms of information
technology. What consideration is given to use
information technology to reduce burden?
The regulations only require the information that is
needed to complete the transactions to be submitted.

4. Describe efforts to identify duplication. Why can’t
any similar information already available be used or
modified for use for the purposes described in item 2
above? Duplicate information is not requested.
5. If the collection of information impacts small
business or other small entities describe any methods
used to minimize burden? This collection of
information does not impact small business or other
small entities.
6. What consequences to Federal program or policy
activities and what, if any, technical or legal
obstacles to reducing burden will occur if this
collection is not conducted or is conducted less
frequently? N/A
7. Is this collection of information conducted in a
manner consistent with the guidelines of 5 CFR 1320.6?
The collection of information cannot be conducted less
frequently because the collection is initiated for a
single purpose.
8. What effort was made to notify the general public
about this collection of information? The Bureau’s
notice was published in the Federal Register on
December 11, 2006, Page 71610. No comments were
received.
9. What decision was made to provide any payment or gift
to respondents, other than reenumeration of
contractors or grantees? N/A
10. What assurance of confidentiality was provided to
respondents and what was the basis for the assurance in
statute, regulations, or agency policy? In accordance
with the Privacy Act of 1974, information furnished by
the public is assured confidentiality.
11. What justification is there for questions of a
sensitive nature? There are no questions of a sensitive
nature.
12. What is the estimated hour burden of this collection of
information? In order to compute the disclosure of
burden estimates, the Bureau of the Public Debt
personnel who process these types of transactions

(governed by 31 CFR Part 343), determined that the
average time required to furnish all necessary
information is fifteen minutes. Studies were conducted
on the program activity during which determined that on
approximately 80 occasions, information was submitted
according to this regulation. This information was
submitted by 37 different respondents. The average time
required to complete and submit the information was
fifteen minutes, multiplied by the number of occasions,
reflecting a total burden of 20 hours.

13.

What is the estimated total annual cost burden to
respondents or recordkeepers resulting from this
collection of information? Estimated cost burden
to respondents is not available.

14.

What is the annualized cost to the Federal
Government? N/A

15.

What is the reason for any program changes or
adjustments reported in Items 13 or 14 of the OMB
Form 83-I? N/A

16.

For collections of information whose results will
be published, outline plans for tabulation and
publication. The results of the collection of this
information will not be published for statistical
use.

17.

If seeking approval to not display the expiration
date for OMB approval of this information
collection, what are the reasons that the display
would be inappropriate? N/A

18.

What are the exceptions to the certification
statement? N/A