Overview
Title
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Bureau of Engraving and Printing Background Investigation Request Form
Agencies
ELI5 AI
The government is checking to make sure certain companies and people are allowed to see new money designs so they can make machines that work with the money. They are asking people to give their thoughts on this plan by March 3, 2025.
Summary AI
The Department of the Treasury is seeking public comments on an information collection request submitted to the Office of Management and Budget (OMB) regarding the Bureau of Engraving and Printing's Background Investigation Request Form. This form is used to evaluate companies and key personnel who need access to new designs and samples of U.S. currency, to ensure they can update products accurately. Comments should be submitted by March 3, 2025. The form primarily affects Banknote Equipment and Currency Reader Manufacturers and has an annual response requirement of about 38 hours.
Abstract
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
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AnalysisAI
The recent notice from the Department of the Treasury, as highlighted in the Federal Register, invites public commentary on a request for information collection concerning the Bureau of Engraving and Printing's Background Investigation Request Form. This form serves a crucial role in safeguarding the process of designing and printing U.S. currency by evaluating the eligibility of companies and their key personnel to access sensitive materials such as test decks and production samples of new currency designs.
General Summary
The document's main purpose is to seek feedback on the renewal of an information collection process without any changes to its currently approved form. The Department of the Treasury intends to review the information under the Paperwork Reduction Act of 1995 and accepts public comments until March 3, 2025. The form impacts Banknote Equipment Manufacturers and Currency Reader Manufacturers, with an estimated 50 respondents annually.
Significant Issues or Concerns
Several issues are apparent in the document that may be of concern:
Security Concerns: The document does not elaborate on the measures in place to ensure only eligible companies and personnel access highly sensitive designs and samples. This omission may raise security questions, particularly in a sphere where unauthorized access could have significant repercussions.
Calculation of Burden Hours: The estimation of a total annual burden of 38 hours appears low. This figure is based on 50 respondents with an average response time of 45 minutes each. Additional clarity on this calculation could assure stakeholders of its accuracy and viability.
Clarity on Process and Significance: For readers unfamiliar with the technicalities of BEP Circular 82-00.13, the description of the Background Information Request Form's process might be complex. Simplifying these details or offering a more comprehensive explanation could enhance understanding.
Eligibility Criteria: The document lacks specific narrative on the eligibility criteria Banknote Equipment and Currency Reader Manufacturers must meet. Providing these details could aid stakeholders in understanding the requirements and adjust their applications or operations accordingly.
Impact on the Public
Broadly, the document serves to maintain transparency and invite public scrutiny and input for a process that is a part of the nation's financial security framework. For the public, it ensures that currency production continues to adhere to legal and procedural standards intended to safeguard against counterfeiting and other financial crimes.
Impact on Specific Stakeholders
For stakeholders like Banknote Equipment and Currency Reader Manufacturers, the process described affects their operational compliance and access to official currency designs. Positive implications include maintaining or gaining access to new currency designs which is vital for updating and producing relevant equipment. Conversely, lack of transparency or unclear processes may hinder their ability to meet requirements, potentially impacting business operations and innovation.
In conclusion, while the document advances currency security and integrity, it may benefit from additional clarity and more comprehensive details to fully reassure the public and directly impacted stakeholders of the safeguard measures and processes involved.
Issues
• The document does not indicate how the Treasury Department plans to ensure that only eligible companies and personnel gain access to sensitive materials such as test decks of new designs and production samples, which could be a security concern.
• The estimated total annual burden hours of 38 appears relatively low; further clarification on how this figure was calculated might be beneficial to ensure accuracy.
• The description of the Background Information Request Form process and its significance could be clearer for individuals not familiar with BEP Circular 82-00.13.
• The document might benefit from providing more detail about the criteria used for determining the eligibility of Banknote Equipment Manufacturers and Currency Reader Manufacturers.