Application for Short-Term Equity Express Select Credit Insurance Policy

Forms and Documents

Document Name	Status
Form EIB 23-02 Application for Short-Term Equity Express Select Credit Insurance Policy Form and Instruction	New
EIB 23-02 Application for ST Equity Express Select Ins Policy Letter - Nov 13 2023.docx Supplementary Document	2023-11-20
EIB 23-02 Application for ST Equity Express Select Ins Policy SUPPORTING STATEMENT - Nov 09 2023.docx Supporting Statement A	2023-11-20

IC Document Collections

IC ID	Document Title	Status
263601	Application for Short-Term Equity Express Select Credit Insurance Policy Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202311-3048-002
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: EXIMBANK	Agency Tracking No: EIB 23-02
Title: Application for Short-Term Equity Express Select Credit Insurance Policy
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 11/28/2023
Date Submitted to OIRA: 11/20/2023

	Requested	Previously Approved
Expiration Date	6 Months From Approved
Responses	500	0
Time Burden (Hours)	125	0
Cost Burden (Dollars)	0	0

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Abstract: The Export Import Bank of the United States (EXIM) pursuant to the Export Import Bank Act of 1945, as amended (12 USC 635, et seq), facilitates the financing of exports 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, EXIM enables U.S. exporters to compete fairly in foreign markets on the basis of price and produce. This collection of information is necessary, pursuant to 12 USC Sec. 635 (a) (1), to determine eligibility of the applicant for EXIM assistance.

Emergency Justfication: EXIM wishes to make available on its EXIM Online (EOL) online portal, used by U.S. companies to apply for export credit insurance, an “Application for Equity Express Select Insurance” that is, except for the title, identical to the OMB-approved “Application for Express Insurance”, which is already available on EOL. The content of the two forms and the information collected is the same for both forms. Only the title of the documents is different. We need to integrate this form into our IT systems (i.e., EOL) alongside the Express Insurance application. Both forms target U.S. small business, but the “Application for Equity Express Select Insurance” targets a subset of small businesses, specifically certain underserved communities (e.g.., minorities, woman, veterans, disabled, and rural). Having a separate but identical form (except for the title) will help EXIM to better brand this product and position it with its targeted market segment. EXIM is celebrating its 90th anniversary in February 2024. The Chair of EXIM is expected to announce the availability of Equity Express Select insurance as part of EXIM’s anniversary celebrations . EXIM needs to have the “Application for Equity Express Select Insurance” form available in EOL for qualifying small business customers in time for the launch of Equity Express Select insurance. As EXIM is the official export credit agency for the U.S., this Application is essential to EXIM’s mission. And because of our Chair’s anticipated announcement date of February 2024, use of the normal PRA approval procedures will likely disrupt EXIM’s ability to collect information using this Application.

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Authorizing Statute(s): US Code: 12 USC 635 Name of Law: Powers and functions of Bank
  

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:
	88 FR 216	11/09/2023
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
Application for Short-Term Equity Express Select Credit Insurance Policy	EIB 23-02	Application for Equity Express Select Insurance

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ICR Summary of Burden

	Total Request	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	500	0	0	500	0	0
Annual Time Burden (Hours)	125	0	0	125	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: This is a new form

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Annual Cost to Federal Government:

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

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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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: 11/20/2023

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