The Export-Import Bank of the United States (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 complete fairly in foreign markets on the basis of price and product. This collection of information is necessary, pursuant to 12 USC Sec. 635 (a) (1), to determine eligibility of the export for Ex-Im Bank assistance.
This form enables Ex-Im Bank to transfer the duties and obligations of an insured exporter's medium term insurance policy to the financial institution providing financing to the exporter. These details are necessary for identifying the participating entities and documenting their agreement to transferring aforementioned duties and obligations.
Ex-Im Bank has experienced a lapse in its authority. The renewal process had been started, but Ex-Im Bankâs lack of authority has hindered continued progress on the renewal. Ex-Im Bank is requesting reinstatement and to extend the expiry date for form 3048-0040 for a six month period so that Ex-Im Bank can resume operating. Thank you for your kind attention to this request.
US Code:
12 USC 635
Name of Law: Export Import Bank Act of 1945
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:
(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;
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.
Form EIB 94-08 Notification & Assignment by Insured to Financial Institution of Medium Term Credit Insurance Policy
Supporting_Statement_EIB_94-10-25-12.doc
Notification & Assignment by Insured to Financial Institution of Medium Term Credit Insurance Policy