83 FR 19577 - Submission for OMB Review; Comments Request

OVERSEAS PRIVATE INVESTMENT CORPORATION

Federal Register Volume 83, Issue 86 (May 3, 2018)

Under the provisions of the Paperwork Reduction Act (44 U.S.C. Chapter 35), agencies are required to publish a Notice in the Federal Register notifying the public that the agency is modifying an existing previously approved information collection for OMB review and approval and requests public review and comment on the submission. Comments are being solicited on the need for the information; the accuracy of OPIC's burden estimate; the quality, practical utility, and clarity of the information to be collected; and ways to minimize reporting the burden, including automated collected techniques and uses of other forms of technology.

[Federal Register Volume 83, Number 86 (Thursday, May 3, 2018)]
[Notices]
[Page 19577]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-09397]


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OVERSEAS PRIVATE INVESTMENT CORPORATION


Submission for OMB Review; Comments Request

AGENCY: Overseas Private Investment Corporation (OPIC).

ACTION: Notice and request for comments.

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SUMMARY: Under the provisions of the Paperwork Reduction Act (44 U.S.C. 
Chapter 35), agencies are required to publish a Notice in the Federal 
Register notifying the public that the agency is modifying an existing 
previously approved information collection for OMB review and approval 
and requests public review and comment on the submission. Comments are 
being solicited on the need for the information; the accuracy of OPIC's 
burden estimate; the quality, practical utility, and clarity of the 
information to be collected; and ways to minimize reporting the burden, 
including automated collected techniques and uses of other forms of 
technology.

DATES: Comments must be received within sixty (60) calendar days of 
publication of this Notice.

ADDRESSES: Mail all comments and requests for copies of the subject 
form to OPIC's Agency Submitting Officer: James Bobbitt, Overseas 
Private Investment Corporation, 1100 New York Avenue NW, Washington, DC 
20527. See SUPPLEMENTARY INFORMATION for other information about 
filing.

FOR FURTHER INFORMATION CONTACT: OPIC Agency Submitting Officer: James 
Bobbitt, (202) 336-8558.

SUPPLEMENTARY INFORMATION: All mailed comments and requests for copies 
of the subject form should include form number OPIC-129 on both the 
envelope and in the subject line of the letter. Electronic comments and 
requests for copies of the subject form may be sent to 
[email protected], subject line OPIC-129.

Summary Form Under Review

    Type of Request: Revision of currently approved information 
collection.
    Title: Sponsor Disclosure Report.
    Form Number: OPIC-129.
    Frequency of Use: One per investor per project.
    Type of Respondents: Business or other institution (except farms); 
individuals.
    Standard Industrial Classification Codes: All.
    Description of Affected Public: U.S. companies or citizens 
investing overseas.
    Reporting Hours: 500 (1 hour per form).
    Number of Responses: 500 per year.
    Federal Cost: $27,455 ($54.91 x 500 x 1).
    Authority for Information Collection: Sections 231, 234(a), 239(d), 
and 240A of the Foreign Assistance Act of 1961, as amended.
    Abstract (Needs and Uses): The information provided in the OPIC-129 
is used by OPIC as a part of the Character Risk Due Diligence/
background check procedure (similar to a commercial bank's Know Your 
Customer procedure) that it performs on each party that has a 
significant relationship (10% or more beneficial ownership, provision 
of significant credit support, significant managerial relationship) to 
the projects that OPIC finances or insures. OPIC has a robust due 
diligence process that includes access to electronic databases. Certain 
questions that can be addressed through such electronic databases have 
been removed from the OPIC-129 form to eliminate duplication. These 
search tools provide immediate results, and thus, the OPIC-129 form is 
only one aspect of the due diligence review. The form has also been 
revised to update the electronic input fields in a manner that is 
consistent with new programming at OPIC. The form will include limited 
drop-down menus tailored to the specific applicant and OPIC business 
line.

    Dated: April 30, 2018.
Nichole Skoyles,
Administrative Counsel, Department of Legal Affairs.
[FR Doc. 2018-09397 Filed 5-2-18; 8:45 am]
BILLING CODE 3210-01-P