Overview
Title
Agency Information Collection Activities: Submission to the Office of Management and Budget for Review and Approval; Comment Request; EIB 18-03, Itemized Statement of Payments-Local Costs for EXIM Credit Guarantee Facility
Agencies
ELI5 AI
The Export-Import Bank of the United States wants people's thoughts on a new form that helps check money requests for buying local things. They think it will be quick to fill out, and they want to know what people think by the end of March.
Summary AI
The Export-Import Bank of the United States (EXIM) is inviting comments on a proposed information collection effort to reduce paperwork and respondent burden under the Paperwork Reduction Act of 1995. This effort involves a form called the "Itemized Statement of Payments—Local Costs for EXIM Credit Guarantee Facility," which is used by EXIM borrowers when requesting disbursements for local cost goods and services. The form helps EXIM lenders ensure financing requests meet EXIM's requirements. The Bank estimates 12 respondents will fill out this thirty-minute form, which will be submitted to the CGF lender for review. Comments are due by March 28, 2025, and additional details can be found on the federal regulations website or by contacting Donna Schneider at EXIM.
Abstract
The Export-Import Bank of the United States (EXIM), as a part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal Agencies to comment on the proposed information collection, as required by the Paperwork Reduction Act of 1995.
Keywords AI
Sources
AnalysisAI
The document from the Federal Register highlights a notice from the Export-Import Bank of the United States (EXIM) regarding a request for comments on a proposed information collection related to its Credit Guarantee Facility. The aim of the request is to solicit feedback from the public and other agencies as part of compliance with the Paperwork Reduction Act of 1995.
Summary of the Document
The notice details EXIM's intention to gather feedback on a form titled "Itemized Statement of Payments—Local Costs for EXIM Credit Guarantee Facility." This form is a necessary component for borrowers seeking disbursement for local cost goods and services through EXIM's Credit Guarantee Facility (CGF) transactions. By collecting this information, EXIM hopes to streamline the process and ensure that all financing requests comply with its disbursement guidelines.
Significant Issues and Concerns
There do not appear to be any major issues or concerns highlighted directly in the notice. However, the notice requires that comments be submitted by March 28, 2025, signaling the importance of timely public engagement in the process. The short estimated time commitment to complete the form—30 minutes—is relatively low, which may help mitigate concerns over undue burden on respondents.
Impact on the General Public
The impact on the general public is likely limited to those directly engaging with EXIM's financing processes. However, the broader community benefits indirectly if EXIM's efforts to reduce paperwork and ensure compliance lead to more efficient lending practices and support for businesses involved in international trade.
Impact on Specific Stakeholders
For borrowers and lenders involved in EXIM's CGF transactions, this notice is significant. Borrowers will need to complete the form when seeking local cost disbursements. By reducing paperwork, EXIM aims to make the process more efficient for these stakeholders, potentially leading to quicker access to financing.
Lenders also benefit from this standardized process, as it provides a clear framework for evaluating disbursement requests, which can contribute to reducing approval times and enhancing compliance monitoring. Ultimately, reducing administrative burdens can improve relationships between lenders and borrowers, potentially leading to increased usage of EXIM's programs.