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

Forms and Documents

Document Name	Status
EZCLEAR.stm[1].doc Supporting Statement A	2010-01-25

IC Document Collections

IC ID	Document Title	Status
16588	Payment by banks and other financial institutions of U.S. Savings Bonds	Modified

ICR Details

OMB Control No: 1535-0087	ICR Reference No: 200912-1535-002
Status: Historical Active	Previous ICR Reference No: 200610-1535-006
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 without change	Conclusion Date: 04/12/2010
	Date Received in OIRA: 01/25/2010
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2013	36 Months From Approved	04/30/2010
Responses	40,682,900	0	47,516,700
Time Burden (Hours)	45,896	0	56,227
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:
	74 FR 55088	10/26/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	75 FR 2928	01/19/2010
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	40,682,900	47,516,700	0	-6,833,800	0	0
Annual Time Burden (Hours)	45,896	56,227	0	-10,331	0	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: The annual number of responses and the burden hours have declined due to a decrease in the amount of savings bonds that are redeemed. This is directly related to the availability of electronic savings bonds and a declining number of paper bonds that are sold.

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Annual Cost to Federal Government: $24,051,013

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)? No

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: 01/25/2010

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