EIB 95-09 Letter of Interest Application Supporting Statement 2014-05-29

EIB 95-09 Letter of Interest Application Supporting Statement 2014-05-29.doc

Ex-Im Bank Letter of Interest Application

OMB: 3048-0005

Document [doc]
Download: doc | pdf

Supporting Statement for Paperwork Reduction Act Submissions
EIB92-05 Letter of Interest Application


General Instructions

A Supporting Statement, including the text of the notice to the public required by 5 CFR 1320.5(a)(i)(iv) and its actual or estimated date of publication in the Federal Register, must accompany each request for approval of a collection of information. The Supporting Statement must be prepared in the format described below, and must contain information specified in Section A below. If an item is not applicable, provide a brief explanation. OMB reserves the right to require the submission of additional information with respect to any request for approval.


Specific Instructions


  1. Justification


  1. Explain the circumstances that make the collection of information necessary. Identify any legal or administrative requirements that necessitate the collection. Attach a copy of the appropriate section of each statute and regulation mandating or authorizing the collection of information.

    The Export Import Bank of the US (Ex-Im Bank) pursuant to the Export Import Bank Act of 1945, as amended (12 USC 635, et seq), facilitates the finance of export of U.S. goods and services. By neutralizing the effect of export credit insurance and guarantees offered by foreign governments and by absorbing credit risks that the private sector will not accept, Ex-Im Bank enables U.S. exporters to compete fairly in foreign markets on the basis of price and product. This collection of information is used to obtain a preliminary determination of the eligibility of the applicant and transaction for Ex-Im Bank assistance.



  2. Indicate how, by whom and for what purpose the information is to be used. Except for a new collection, indicate the actual use the agency has made of the information received form the current collection.

    Ex-Im Bank is the U.S. Government agency (created by the Export-Import Bank Act of 1945, as amended) that facilitates the export financing of U.S. goods and services. By neutralizing the effect of export credit insurance offered by foreign governments and by assuming credit risks that the private sector will not accept, Ex-Im Bank enables U.S. exporters to compete fairly in foreign markets on the basis of price and products. The Letter of Interest (LI) is an indication of Export-Import (Ex-Im) Bank's willingness to consider financing a given export transaction. Collection of this information is necessary under Sec. 635 (a) (1) to determine eligibility of the applicant for Ex-Im Bank assistance or participation.



  1. 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, e.g., permitting electronic submissions of responses, and the basis for the decision for adopting this means of collection. Also describe any consideration of using information technology to reduce burden.

    The applicant has the option to fill out and submit the completed form online, or to fill out and submit a hard copy version. The applicant submits a completed form to obtain a preliminary determination of the eligibility of the applicant and transaction for Ex-Im Bank assistance and a preliminary offer of financing support under the Bank’s loan and guarantee programs. Ex-Im Bank uses the information provided on the form to determine the applicant’s eligibility for requested support.


  1. Describe effort to identify duplication. Show specifically why any similar information already available cannot be used or modified for use for the purposes described in Item 2 above.

    Ex-Im Bank accepts online applications and has done so since 1999. The online application provides requesters with the opportunity to fill out an easy-to-follow application process. This reduces the burden of filling out a hard copy instrument and eliminates the burden and expense of using mail or courier services.

  2. If the collection of information impacts small businesses or other small entities describe any methods used to minimize burden.

    All applications are independent of each other, i.e., no duplication. In circumstances when some information may already be on file at Ex-Im Bank, the application includes language allowing the applicant to so indicate.



  1. Describe the consequence to Federal program or policy activities if the collection is not conducted or is conducted less frequently, as well as any technical or legal obstacles to reducing burden.

    Not applicable.

  2. Explain any special circumstances that would cause an information collection to be conducted in a manner”
    *requiring respondents to report information to the agency more often than quarterly;
    *requiring respondents to prepare a written response to a collection of information in fewer than 30 days after receipt of it;
    *requiring respondents to submit more than an original and two copies of any document;
    *in connection with a statistical survey, that is not designed to produce valid or reliable results that can be generalized to the universe of study;
    *requiring the use of statistical data classification that has not been reviewed and approved by OMB;
    *that includes a pledge of confidentiality that is not supported by authority established in statute or regulation, that is not supported by disclosure and data security policies that are consistent with the pledge, or which unnecessarily impedes sharing of data with other agencies for compatible confidential use; or
    *requiring respondents to submit proprietary trade secrets, or other confidential information unless the agency can demonstrate that it has instituted procedures to protect the information’s confidentiality to the extent permitted by law.


Absent the information required in the application form, Ex-Im Bank would be unable to make the necessary judgments to determine eligibility of the applicant to obtain support. Without those judgments, Ex-Im Bank would not be able to provide the financing commitment needed by our customers.


  1. If applicable, provide a copy and identify the date and page number of publication in the Federal Register of the agency’s notice soliciting comments on the information collection prior to submission to OMB. Summarize public comments received in response to that notice and describe actions taken by the agency in response to these comments.

    No comments were received.

  2. Explain any decision to provide any payment or gift to respondents, other than remuneration of contractors or grantees.

    Not applicable. Export Import Bank does not provide any payment of gifts to respondents.

  3. Describe any assurance of confidentiality provided to respondents and the basis for the assurance in statute, regulation, or agency policy.

Ex-Im Bank and its officers and employees are subject to the Trade Secrets Act, 18 U.S.C. Sec. 1905, which requires Ex-Im Bank to protect confidential information from disclosure, as well as 12 CFR 404.1, which provides that, except as required by law, Ex-Im Bank will not disclose information provided in confidence without the submitter’s consent.


  1. Provide additional justification for any question of a sensitive nature, such as sexual behavior and attitudes, religious beliefs, and other matters that are commonly considered provides. This justification should include the reasons why the agency considered the questions necessary, the specific uses to be made of the information, the explanation to be given to persons from whom the information is requested, and any steps to be taken to obtain their consent.

    Not applicable. No sensitive questions are asked.

  2. Provide estimates of the hour burden of the collection of information. The statement should include:

    The number of respondents: 540
    The frequency of response: On occasion
    Annual hour burden; and 270 hours


    An explanation of how the burden was estimated.

    From time to time staff completes a “sample” application form for use in testing, training, etc. The time is takes for staff to fill out the application form is 30 minutes. If the applicant has their credit information at hand, it should take the respondent 30 minutes as well. We expect to receive, on average 540 per year. Thus, the annual burden rate can be calculated as (540 * .50) = 270 hours.

  3. Provide an estimate for the total annual cost burden to respondents or records keepers resulting from the collection of information. Agencies must estimate the actual cost, in current dollars, for non-labor expenditures that would not have been made but for the information collection requirement. (Do not include the cost of any hour burden shown in items 12 and 14).

    Ex-Im Bank charges a $100 application fee for all Letter of Interest applications that are received in paper and accepted and a $50 application for all Letter of Interest applications received electronically and accepted.

    Ex-In Bank received 85% of these applications electronically and 2% are not accepted and the fees are returned – please see below for the calculations of the fees collected by the Bank.

    85% x 540 respondents x $ 50 = $22,950
    15% x 540 respondents x $100 = $ 8,100

    Less

    2 % x 540 applications not accepted x $100 = $1,080

    Total fees collected each year $29,970

  4. Provide estimates of annualized costs to the Federal government.

    Reviewing time per hour: 0.5
    Responses per year 540
    Reviewing time per year 270 hours
    Average Wages per hour $42.5
    Average cost per year $11,475
    (time * wages)
    Benefits and overhead 20%
    Total Government Cost $13,770


  5. Explain the reasons for any program changes or adjusted reported in items 13 or 14 of OMB from 83-1.

    We have added information concerning the application fees charged by the Bank to respondents. This has increased the cost to the respondent.
    We have also updated the Hourly Rate and Benefits & Overhead percentage in item 14 to reflect the Bank’s current information. This has resulted in a decrease in the cost to the Agency.

  6. For collection of information whose results will be published, outline plans for tabulation and publication. Address any complex analytical techniques that will bee used. Provide the time schedule for the entire project, including beginning and ending dates of the collection of information, completion of report, publication dates, and other actions.

    Not applicable. Information is not published.

  7. If seeking approval to not display the expiration date for OMB approval of the information collection, explain the reasons that display would be inappropriate.

    Not applicable. We are not seeking approval.

  8. Explain each exception to the certification statement identified in Item 19 “Certification for Paperwork Reduction Act Submissions,” of OMB Form 83-1.

    No exceptions.

  1. Collection of Information Employing Statistical Methods

    Statistical methods are not used in this information collection.



File Typeapplication/msword
File TitleSupporting Statement for Paperwork Reduction Act Submissions
Authorwhitt
Last Modified ByAlla Lake
File Modified2014-05-29
File Created2014-05-29

© 2024 OMB.report | Privacy Policy